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…
Latest global trade News & Updates
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…
New Delhi, April 23 (IANS) The Reserve Bank of India purchased $7.41 billion in the foreign exchange market during February this year on a net basis, marking the second straight month of net dollar buys, data from the monthly bulletin released on Thursday showed.The value of the Indian rupee rose 1 per cent vis-a-vis the dollar in February to post its first monthly gain in 10 months following the announcement of a trade deal between India and the US.During the month, the RBI purchased $21.4 bill…
New Delhi, April 20 (IANS) Legal verification of the New Zealand-India Free Trade Agreement (FTA) has been completed, with both countries agreeing to its signing in New Delhi on April 27 in the presence of a large contingent of representatives of businesses from the two countries, Trade and Investment Minister Todd McClay said on Monday.In a statement, McClay said, “This once-in-a-generation agreement gives our exporters unprecedented access to 1.4 billion people and an economy set to become t…
New Delhi, April 19 (IANS) The legal and policy implications of the WTO Panel Report on transnational subsidies, particularly under the Agreement on Subsidies and Countervailing Measures, came under sharp focus during a panel discussion held in the national capital on Sunday, as experts examined its impact on global trade rules and evolving industrial policies.The discussion was organised by the Centre for Trade and Investment Law (CTIL) at the Indian Institute of Foreign Trade in collaboration …