Expanding Trade Ties

India sees significant growth in export volume in FY 22. With the free trade pact with the UAE, garment export is touted to boom. Moscow is importing vital goods including aircraft, car, and train parts from India. A moment of pride for India as we gear up to assume the presidency of the G20 group of nations. Additionally, finance minister Mr. Goyal announces the beginning of the India- Australia Economic Cooperation & Trade Agreement, effective from 29th December, 2022.

ECONOMY

India – A 1 trillion manufacturing export market by 2030

Exports have seen tremendous growth over the last two years. India has reached $418 billion of manufacturing exports in the fiscal year 2022 (FY22) with rapid growth over the last 2 years.

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BILATERAL TRADE

India-UAE free trade pact will boost exports of garment sector : AEPC

Chairman Fair and Exhibitions AEPC Ashok Rajani said India is the second largest supplier of ready-made garments to the UAE after China. "The UAE has traditionally been the topmost trading partner for Indian garment exports. With signing of the UAE-India CEPA agreement giving duty free access to Indian garment exports, this share is expected to increase further," he said.

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BILATERAL TRADE

Sanctions-hit Russia asks India for parts for key sectors, say sources

Moscow has sent India a list of more than 500 products for potential delivery, including parts for cars, aircraft and trains, as sanctions squeeze Russia's ability to keep vital industries running.

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WTO

India's G20 Presidency: Significance and challenges as world's biggest economic powers converge on Indian soil

India assumed the presidency of the G20 group of nations from today. India will hold this significant position for a year during which Prime Minister Narendra Modi will chair around 200 meetings that will aim to further global economic growth and prosperity.

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BILATERAL TRADE

India-Australia Free Trade Agreement to come into force from December 29

“India & Australia consolidate their long-standing partnership. Economic Cooperation & Trade Agreement, realized under the guidance of leaders of both countries, comes into effect from December 29, 2022. It is the dawn of a whole new era for our businesses & people,” said Union Commerce and Industry Minister Piyush Goyal on Twitter.

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