Washington, July 24 (IANS) The proposed India-Middle East-Europe Economic Corridor (IMEC) received strong bipartisan backing during a US congressional hearing on the future of the Abraham Accords, with lawmakers and policy experts describing the project as a strategic alternative to China’s Belt and Road Initiative that could slash transit times between India and Europe by more than half while reshaping regional economic cooperation.At a hearing of the House Foreign Affairs Subcommittee on the M…
Latest Department of Commerce News & Updates
New Delhi, July 20 (IANS) External Affairs Minister (EAM) S. Jaishankar on Monday stated that he had a good conversation with his Uzbek counterpart, Bakhtiyor Saidov, and discussed deepening India-Uzbekistan bilateral ties. “A good conversation with Bakhtiyor Saidov of Uzbekistan today. We spoke about deepening our bilateral ties, including in trade, investment and other areas,” EAM Jaishankar wrote on X.Minister of Foreign Affairs Bakhtiyor Saidov noted that he had a substantive phone conve…
New Delhi, July 14 (IANS) The government on Tuesday said that the first round of negotiations for the India-Maldives Free Trade Agreement (FTA) have been concluded successfully towards expanding bilateral trade and investment engagement.India is the second-largest trading partner of the Maldives. Bilateral trade between the two countries stood at $771.76 million in 2025–26, compared to $679.70 million in 2024–25, registering a growth of 13.54 per cent.According to a Commerce Ministry stateme…
New Delhi, July 11 (IANS) India and Canada concluded the third round of negotiations for the Comprehensive Economic Partnership Agreement (CEPA) in Ottawa from July 6-10, it was announced on Saturday.The discussions witnessed positive progress across multiple negotiating tracks, reaffirming the shared commitment of both countries to conclude the negotiations in 2026, in line with the vision of the leaders, said Department of Commerce in a post on X.On the sidelines of the G7 Summit in Evian, Fra…
New Delhi, July 11 (IANS) Commerce Secretary Rajesh Agrawal has said that India’s policy framework must provide the predictability and stability required for global value chains to expand their presence in the country.The global electronics industry is increasingly driven by these value chains, he said at Chintan Shivir organised here by the Department of Commerce, to develop policy recommendations for strengthening India’s electronics manufacturing and export competitiveness.He observed that …
New Delhi, July 8 (IANS) India and Costa Rica have agreed to strengthen business-to-business engagement, promote institutional cooperation, and encourage regular interactions between the concerned ministries, regulatory authorities and industry.Reaffirming their commitment to deepening bilateral economic ties, they agreed to utilise the India-Costa Rica Joint Economic and Trade Committee (JETCO) as a key platform for advancing trade, investment and sectoral cooperation.According to an official s…
New Delhi, July 6 (IANS) As part of the Centre’s outreach to help states boost exports, a Chintan Shivir on “Opportunities for the Seafood Sector under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA)” was held in Chennai to maximise the benefits of the sharp reduction in tariffs which are now available under the trade pact.The high-level brainstorming session, organised by the Centre’s Department of Commerce and held on the sidelines of Seafoo…
New Delhi, July 3 (IANS) In a significant step towards strengthening bilateral economic ties, India and Mali institutionalised their growing commercial partnership through the inaugural India-Mali Forum for the Promotion of Exports, setting the stage for deeper trade and investment cooperation between the two countries, according to a statement issued by the Commerce and Industry Ministry on Friday. The two-day forum, held in Bamako under the theme “Reinforcing Trade and Strategic Partnerships”,…
Washington, June 28 (IANS) Hundreds of visitors queued up in Washington’s popular Dupont Circle on Saturday afternoon to sample Indian mangoes at the annual Mango Festival, with many calling for wider availability of premium Indian varieties in the United States as organisers showcased the country’s rich horticultural diversity. The festival, organised by the Embassy of India in Washington in collaboration with the Agricultural and Processed Food Products Export Development Authority (APEDA), th…
Washington, June 26 (IANS) Two bipartisan U.S. lawmakers on Friday introduced legislation aimed at closing what they described as a major loophole in export controls that could allow China and other U.S. adversaries to access advanced American artificial intelligence computing power through cloud service providers. Congressman Josh Gottheimer and Congressman John Moolenaar, Chairman of the House Select Committee on China, unveiled the Cloud Security Act, arguing that existing U.S. export control…