China replaces U.S. to become India’s largest trading partner in FY24
In the past five years, India's exports to China shrunk 0.6%, but imports zoomed 44.7%
In the past five years, India's exports to China shrunk 0.6%, but imports zoomed 44.7%
The two countries need to think how to reduce tariffs and make regulatory bodies more predictable to boost trade and economic relations further, says Garcetti.
The RBI and the Central Bank of UAE are also in discussion for other payment tools to make it a part of the UAE-India framework in the coming months.
Both the countries will sign a MoU this year to enhance trade and economic relationship between India and Canada.
The BIS Triennial Central Bank Survey of 2022 reports that only 1.62% of global transactions are settled in Indian rupee
During the period FY 2017-18 to FY 2021-22, bilateral trade between India and the GCC has grown by 10.57% on a compounded annual growth rate basis.
The India-Australia bilateral trade is expected to increase from the current $31 billion to about $50 billion in the next five years.
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
Not just political leaders, but the next age of India-U.S. ties would be equally determined by giant corporations and startups.
It is in the interest of both India and the U.S. to iron out their bilateral issues and identify ways to increase synergies across new sectors.