New Delhi, June 22 (IANS) Apex industry body ASSOCHAM on Monday welcomed the agreement reached between the US and Iran in Switzerland to ensure safe commercial shipping through the Strait of Hormuz, saying the development is expected to ease global crude oil prices and deliver significant benefits to the Indian economy.The chamber said the breakthrough — which comes amid heightened geopolitical tensions in the region — could help restore stability to global energy markets and reduce risks asso…
Latest Supply Chains News & Updates
Tokyo, June 13 (IANS) Japan’s Prime Minister Sanae Takaichi on Saturday departed for her first trip to Europe since taking office in October. She is going to visit the UK, Italy and attend the G7 Summit in France.In the UK and Italy, Takaichi will meet the respective Prime Ministers Kier Starmer and Georgia Meloni and discuss issues such as the situation in East Asia, the Middle East, and Ukraine, while also engaging in discussions with the leaders of both countries to strengthen bilateral coope…
Washington, June 11 (IANS) President Donald Trump has cast a fresh doubt on the future of the United States-Mexico-Canada Agreement (USMCA), saying he is not certain he will renew the North American trade pact when it comes up for review during his current term. Speaking at the White House after signing the Secure America Act on Wednesday (local time), Trump said the agreement’s most important feature was not the trade provisions themselves but the fact that it allows the United States to revisi…
Washington, June 9 (IANS) Two senior Democratic senators have urged the Trump administration to restore proposed port fees on Chinese ships, arguing that the move is essential to rebuilding America’s shrinking shipbuilding industry and reducing dependence on China in a sector increasingly viewed as critical to national security.In a letter to US Trade Representative Jamieson Greer, Senators Elizabeth Warren and Mark Kelly said the administration should reinstate Section 301 fees and restrictions…
New Delhi, June 8 (IANS) India’s electronics manufacturing services (EMS) market could exceed $150 billion by FY30, and is at a critical inflection point, a report said on Monday.A report by KPMG in India showed that the EMS market has grown rapidly from roughly $10–12 billion in FY20 to $40–45 billion in FY25. The sector’s rapid expansion was driven by domestic demand, policy support and China+1 strategies, it said.However, it now faces a “scale without depth” paradox that limits valu…
New Delhi, June 4 (IANS) Pakistan’s economy has suffered losses of $1.4 billion over the past seven months as border tensions with Afghanistan and the ongoing Middle East crisis disrupted trade flows and export activity, a report has said.According to an analysis by Kabul Now, the country lost nearly $850 million due to the closure of border crossings with Afghanistan between October 2025 and May 2026.The report described tensions with Afghanistan and the wider Middle East conflict as two majo…
Washington, June 3 (IANS) Secretary of State Marco Rubio on Wednesday said the United States has brought together more than 30 countries in a new effort to secure global supplies of rare earth minerals, as Washington seeks to reduce dependence on China for critical resources essential to advanced industries and emerging technologies. Appearing before the House Foreign Affairs Committee, Rubio highlighted the initiative as part of a broader strategy to strengthen economic security and supply-chai…
Washington, June 3 (IANS) US Secretary of State Marco Rubio warned that China’s dominance of global critical mineral supply chains poses a growing threat to economic and national security, saying the United States is expanding partnerships worldwide to reduce dependence on Beijing for resources vital to advanced technologies, defence systems and industrial production.Speaking before the House Appropriations Subcommittee on National Security, Department of State and Related Programs, Rubio said t…
Washington, June 3 (IANS) Critical minerals have become a central pillar of American diplomacy, with US embassies around the world increasingly focused on securing supply chains and reducing dependence on China, Secretary of State Marco Rubio told lawmakers.Testifying before the House Appropriations Subcommittee on National Security, Department of State and Related Programs, Rubio said the Trump administration has elevated critical minerals to the forefront of its diplomatic agenda as competitio…
Washington, June 2 (IANS) Secretary of State Marco Rubio warned Tuesday that the United States cannot afford to lose its technological edge to China, telling lawmakers that maintaining American leadership in artificial intelligence has become a critical national security priority. Appearing before the Senate Foreign Relations Committee, Rubio said the United States and China would remain strategic competitors for years, if not decades, even as both countries continue to engage diplomatically.”Ch…