New Delhi, May 20 (IANS) While diplomacy could have reduced tensions in the Persian Gulf, Iran has chosen the path of “maximalist posturing” to choke the Gulf of Hormuz, resulting in the disruption of supply chains which have caused fuel, fertiliser and food prices to soar, leading to immense economic hardship in the developing countries, according to an article in International Business Times.During ceasefire discussions with the United States and other mediators, Iran reportedly attached m…
Latest global trade News & Updates
New Delhi, May 20 (IANS) The growing green strategic partnership between India and Norway offers a practical and scalable model for global climate cooperation, former Norwegian minister for climate and environment Erik Solheim said on Wednesday.Solheim said in an opinion piece for India Narrative that the partnership pairs complementary strengths — Norway’s financial resources and technical expertise with India’s scale.In the current era of climate, geopolitical fragmentation, and lack of b…
New Delhi, May 17 (IANS) Union Commerce and Industry Minister Piyush Goyal will launch the official website of the Bhartiya Vyapar Mahotsav during a two-day national conclave of trade leaders at Bharat Mandapam in New Delhi, organised by the Confederation of All India Traders (CAIT), it was announced on Sunday.The conclave will bring together around 150 prominent trade leaders, representatives of business associations, MSMEs, manufacturers, startups and industry stakeholders from across the coun…
Gandhinagar, May 16 (IANS) The intra-BRICS merchandise trade has risen thirteen-fold, from $ 84 billion in 2003 to $ 1.17 trillion in 2024, outpacing the growth in global trade and contributing to greater resilience and diversification for member countries, Rajesh Agrawal, Commerce Secretary said on Saturday.Speaking at 2nd meeting of the BRICS Contact Group on Trade and Economic Issues (CGETI) here, the top government official underscored that BRICS has continued to grow stronger and has emerge…
Mumbai, May 11 (IANS) India’s approach towards Free Trade Agreements (FTAs) is focused on building stable and future-ready partnerships that enable domestic industries to integrate more effectively with global value chains, Commerce Secretary Rajesh Agrawal said on Monday.Speaking at a session on “FTAs as Catalysts for Growth in Global Trade” during the CII Annual Business Summit 2026 here, Agrawal said that in an increasingly fragmented global landscape, trade resilience, long-term predic…
New Delhi, May 8 (IANS) The recently-concluded India-New Zealand Free Trade Agreement (FTA) is not only seen by the global media as a significant step forward for the two democracies in strengthening bilateral economic relations, but also a major move to correct the disruption in global trade caused by the tariff turmoil triggered by the US. According to an article in South Africa’s Independent Online (IOL), the FTA is a “leap forward in right-setting global trade following US President Donald…
Washington, May 6 (IANS) US Secretary of State Marco Rubio warned that Iran’s actions could trigger broader economic instability as the increasing tensions in the Strait of Hormuz and fears of prolonged disruption to one of the world’s busiest energy corridors are increasing pressure on global oil markets.At the White House news conference , Rubio said Iran’s attempts to control shipping through the Strait of Hormuz threatened fuel supplies, global trade and international shipping lanes re…
Washington, May 5 (IANS) The current US-Iran standoff in the Strait of Hormuz has left thousands of commercial vessels stranded, disrupting global trade and threatening energy supplies, with potential ripple effects for import-dependent economies like India.US officials said more than 22,500 mariners aboard over 1,550 commercial vessels are currently unable to transit the region due to Iranian attacks and threats to shipping.The Strait of Hormuz, a narrow but critical waterway between Iran and O…
New Delhi, May 1 (IANS) Defence experts on Friday voiced strong support for the Great Nicobar Project, describing it as a transformative initiative that will strengthen India’s maritime security, reduce dependence on foreign ports, and position the country as a key player in global trade.Speaking to IANS, they stressed that the project reflects a forward-looking vision aimed at enhancing national security while unlocking significant trade potential.Air Vice Marshal (Retd.) P. K. Srivastava sai…
New Delhi, April 24 (IANS) Europe is losing its strategic autonomy as it is getting increasingly dependent on Chinese factories for goods, even for the Green Transition in energy that it is aiming for, according to an article.The article in Brussels Signal highlights that China now controls 80 per cent of the world’s solar panels, 75 per cent of the batteries, and 70 per cent of the electric vehicles, which represents “a total monopoly on the energy and mobility of the next generation”.”This i…