Russia 3rd largest crude oil exporter to India; trade at $16.46 bn in Apr-Aug
MoS commerce & industry Anupriya Patel tells Parliament that India’s dependence on imports of intermediate goods and raw materials is largely due to the gap between domestic supply and demand.
Shying from multilateral trade bodes ill for GDP growth
Apart from denying exports-led growth opportunity, India’s aversion to trade with big and powerful blocs would shut the door to global supply and value chains
India’s trade with China rises 29% to $115 bn in 5 yrs
In FY22, electrical machinery and equipment, sound recorders and reproducers, and TVs accounted for the highest $30.7 billion worth of trade, says the govt
Imports from China were the highest ever in FY2022. But this does not signal the failure of India’s strategy to reduce dependence on China.
Capitalise on China + 1 strategy with mini-trade deals: Parliamentary Panel to Govt
The committee welcomed the government's plan to advance negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with Bangladesh.