Upping its growing engagement with Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), India will be hosting the first-ever business summit for the grouping. The summit will be a three-day event from 6-8 August organised by the Ministry of External Affairs (MEA) and the Confederation of Indian Industry (CII) here in the national capital. 

Commerce and Industry Minister Piyush Goyal on Thursday held meetings with export promotion councils as well as industry associations to discuss strategies to enhance global market outreach, further boost India's exports by focusing on key sectors, and addressing trade barriers.

In a flavourful boost to bilateral relations, German Ambassador Philipp Ackermann celebrated the arrival of North Indian mangoes in European markets, emphasising that Europeans too 'deserve to have good mangoes'.

Exporters on Thursday sought a separate division in the Commerce and Industry Ministry to deal with non-trade barriers such as those on environment and sustainability. At a meeting with Union Minister Piyush Goyal, they also raised the issue of Chinese goods entering India through the ASEAN free trade agreement.

The Kerala Cooperatives Department has begun exporting 12 tonnes of value-added agricultural products to the United States. These goods, processed by local cooperative societies, were sent off by Cooperation Minister V N Vasavan.

Exports are likely to be a key focus area for improvement in Maharashtra in the near term, as per experts analyzing data that came to the fore in the state economic survey released on Thursday.

Due to India becoming a regional manufacturing hub, the effectiveness of supply chain relocation to this area is significant. From January to May 2024, the highest export from Taiwan to India was in chips, amounting to $1.18 billion, a growth rate of 49.4%, accounting for more than 36% of Taiwan's total exports to India ($3.23 billion).

India on Wednesday allowed limited imports of corn, crude sunflower oil, refined rapeseed oil, and milk powder under the tariff-rate quota (TRQ), where importers pay nil or lower duty, as New Delhi tries to bring down food inflation.