GLOBAL TRADE
India’s trade deals can boost jobs, attract investment: Commerce Secy Rajesh Agarwal
Commerce Secretary Rajesh Agarwal highlighted India's potential to grow its participation in global value chains. He noted that the current participation rate has increased significantly over the past decade. Agarwal emphasized the importance of free trade agreements with developed economies for facilitating trade and attracting investments.
Ships take long way around as drought snarls Panama Canal
The month of August and September witnessed an impressive 70% rise in maritime traffic transiting the Strait of Magellan. This surge is primarily due to restrictions in the drought-stricken Panama Canal, prompting shipping companies to seek alternative routes.
India, Norway discuss green partnership, EFTA trade ties, Arctic cooperation
Sibi George of the Ministry of External Affairs met Norway's State Secretary Astrid Bergmal in New Delhi for discussions. They addressed enhancing the India-Norway Green Strategic Partnership and boosting trade ties under the India-EFTA framework. The conversation also touched on cooperation in fisheries and Arctic affairs, in addition to regional and global issues. Furthermore, George met Austria's National Security Advisor Dr. Peter Vorhofer to strengthen India-Austria cooperation in security matters.
India-US trade deal talks may have reached a ‘plateau’, further concessions difficult: Nirmala Sitharaman
During a recent briefing, India's Finance Minister Nirmala Sitharaman announced that talks regarding a trade pact with the US are currently stalled. While she sees some room for advancement, she pointed out the complexities involved in making further concessions. The dialogue also encompasses the trade deficit issues with both the US and China.
Sebi says Jane Street’s appeal for more details a delaying ploy
Sebi has called Jane Street’s demand for additional documents a “dilatory” tactic as the Wall Street trading firm challenges the regulator’s market manipulation allegations. The dispute centres on Jane Street’s trading in Nifty Bank derivatives. The outcome could influence how global trading firms assess regulatory risks in India’s derivatives market, with the hearing set to continue Wednesday.
Jane Street denies manipulation charges in India appeal case
Jane Street Group LLC is currently appealing against the Securities and Exchange Board of India’s allegations of market manipulation. The company has previously been cleared of wrongdoing by regulatory reviews, which raises questions about the ongoing investigation. Jane Street is seeking further information about the origins and conduct of the SEC investigation into its trading activities.
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The US said China was priming a trade superweapon. Then it vanished
LOGINK, originally a project to improve cargo logistics, has seen its international efforts falter significantly. The platform lost key partnerships, withdrew from an international association, and is currently embroiled in legal disputes. Its operations hub in Wenzhou appears abandoned, indicating financial troubles that have emerged in recent years. Additionally, US pressure has contributed to its declining influence in global shipping.
India-US trade talks hit a plateau, with little room left to give or take, says Finance Minister Nirmala Sitharaman
India and the US are currently negotiating a trade agreement aimed at expanding market access and addressing trade balance concerns. Finance Minister Nirmala Sitharaman mentioned that both sides appear to have reached a plateau in negotiations. She indicated that further concessions may be challenging following rigorous discussions. Despite this, she believes there could be opportunities for additional negotiations. The US is particularly focused on reducing its trade deficit with India.
Opportunity alone doesn’t create trade. Connectivity does
BRICS 2026 has built momentum. The next chapter will depend on how effectively agreements are matched by the corridors, infrastructure, technology, and systems needed to move goods reliably, with alternatives when disruptions occur.
RoDTEP extension to help sustain exports in challenging global trade environment: CII's Budhia
The government has extended the RoDTEP scheme until December 31 to support exporters effectively. This scheme offers refunds on various taxes and duties which exporters incur. The Confederation of Indian Industry emphasizes the need for a longer-term extension of this scheme.
IMF reaches staff-level deal with Sri Lanka for $345 million in financing
The International Monetary Fund has agreed to a $345 million financing deal with Sri Lanka. This deal is contingent upon the upcoming 2027 budget being compliant with the programme's terms. Sri Lanka aims to restructure its debt as part of its ongoing economic recovery. Global trade conditions and energy prices remain significant concerns for the nation's economic stability.
Capital limited but confidence in rules of trade, fiscal path of large economies: DEA secretary
Economic Affairs Secretary Anuradha Thakur said trade shaped by security and geopolitical considerations could deepen global imbalances, raise capital costs and create friction. She said private investment was showing signs of revival despite tight global financial conditions, while the AI investment cycle was adding to demand for capital and debt.
There could be a pretty big global shock, says Nobel laureate & economist Michael Spence
Michael Spence highlights the economic growth of India and China, noting India's potential growth trajectory. He emphasizes India's advancements in digital infrastructure, particularly in digital financial services like UPI. Spence discusses the significance of AI in economic development and its anticipated impact over the next decade. He warns of potential economic shocks due to rising debt levels and high market valuations.
Explainer: Who are the Houthis, Iran's allies in Yemen?
Yemen's Saudi-backed government has initiated a military counteroffensive against the Iran-backed Houthis, seeking to recover lost territory. The renewed warfare has increased tensions in the region, jeopardizing Red Sea shipping routes and disrupting energy exports. The Houthis have previously demonstrated their missile and drone capabilities, impacting global trade and regional stability. The conflict, which has caused significant humanitarian crises, has recently escalated after a period of relative peace.
GVC integration, supply chain resilience, FTAs key to boost exports, high-end manufacturing: Deloitte India
India needs deeper integration into global value chains, lower logistics costs and better use of free trade agreements to boost exports and move into higher-value manufacturing, according to Deloitte India. It also called for stronger supply-chain resilience, tariff rationalisation and greater support for MSMEs facing trade-finance, compliance and currency risks.
Pvt investment, strategic resource security, global openness key for growth path ahead: FM Sitharaman
India's finance minister Nirmala Sitharaman highlighted strategic priorities to build resilience amid ongoing global economic uncertainty. She emphasized the importance of optimizing supply chains and fostering private sector investment for strengthening innovation. The minister noted that India's R&D expenditure is significantly lower compared to OECD countries, necessitating increased private participation. Sitharaman discussed the shocks faced in recent years and the importance of managing economic stability.
Nirmala Sitharaman calls for open, rules-based global economic ties amid geopolitical tensions
At the Kautilya Economic Conclave, Nirmala Sitharaman spoke about fostering international trade policies that are not only open but also predictable. She underlined the critical need for nations to communicate effectively to dissolve geopolitical trade barriers. Highlighting the importance of resilience in the global economy, she introduced the National Critical Minerals Mission, stressing strategic autonomy to reduce single-source dependencies amid ongoing global economic turmoil.
Piyush Goyal calls for WTO-compliant approach to correcting global trade distortions at G20 Trade Ministers' Meet
Union Minister of Commerce and Industry Piyush Goyal called for a World Trade Organization-compliant approach to tackle trade distortions and excess capacity during the concluding day of the G20 Trade Ministers' Meeting in Milwaukee, Wisconsin.
CBAM can help India build a greener, competitive export sector
The EU's Carbon Border Adjustment Mechanism is set to reshape global trade dynamics by prioritizing carbon intensity. Indian exporters must strategize for compliance that extends beyond the current focus on iron and steel. The Indian government is actively supporting small and medium enterprises in achieving these new sustainability benchmarks. To navigate this transition successfully, enhanced funding for carbon accounting and technological advancements is essential.
Sebi penalises SMC Global Securities for compliance lapses
Sebi has levied a penalty of Rs 1 lakh on SMC Global Securities due to regulatory infractions, particularly the mishandling of client order-placement records uncovered during an inspection. This examination, covering the period from January to September 2024, highlighted issues tied to unauthorized trading and the oversight of authorized representative Amit Lilhare's client transactions. SMC Global Securities operates under Sebi’s regulations and engages with various stock exchanges across India.
Putin sees ‘very big potential’ in India ties, backs joint use of global trade corridors
Vladimir Putin highlighted significant potential for economic collaboration with India, particularly in transport and shipping corridors. He expressed readiness for joint maritime initiatives following successful pilot voyages with China and South Korea. Putin praised Prime Minister Narendra Modi's efforts towards resolving the Ukraine conflict through dialogue and mutual understanding. Meanwhile, discussions about alternative trade routes to the Indian Ocean are gaining traction to mitigate regional transit risks.
Piyush Goyal calls for clear distinction between food supply ‘weaponisation’ and food-security measures
Piyush Goyal addressed the G20 Trade Ministers' meeting, focusing on the distinction in food supply chain strategies. He emphasized the need to differentiate coercive actions from legitimate food security measures. US Trade Representative Jamieson Greer discussed the implications of food weaponization and structural excess capacity in global markets. Greer also highlighted concerns about the Most-Favored-Nation principle and forced labor impacting trade fairness.
Building global infrastructure: JEY GROUP’s vision for long-term growth
Acknowledged for his pivotal role in global maritime investments, Dr. Dattatreya Nagireddy leads JEY GROUP’s mission in creating connected ecosystems to boost international trade and sustainable energy practices. His leadership is centered on logistics, shipping, and energy, aimed at branching out operations worldwide. This recognition reflects JEY GROUP's commitment to fostering long-term economic growth by adopting a holistic approach in key market industries.
'Very good call': US Ambassador Sergio Gor on PM Modi-Trump telephonic conversation
Modi and Trump engaged in a telephone conversation reviewing bilateral cooperation. They discussed trade, defense, energy, and critical technologies during the call. Both leaders reaffirmed their commitment to advancing the India-US Comprehensive Global Strategic Partnership after evaluating ongoing regional and international developments. EAM S Jaishankar indicated progress on a mutually beneficial trade deal while addressing tariff concerns.
US Trade Representative Greer jokes Piyush Goyal is 'trade minister for life' as G20 trade talks open in Milwaukee
US Trade Representative Jamieson Greer opened a two-day G20 trade ministers' meeting in Milwaukee addressing key issues. During the event, Greer emphasized the need to rethink global trade governance and identified four pressing priorities. Union Commerce and Industry Minister Piyush Goyal participated actively, promoting India's position on trade agreements alongside his counterparts. The discussions included initiatives concerning steel overcapacity, forced labour, and the Most-Favoured-Nation principle.
Greer urges G20 to back Trump tariff agenda, takes aim at China
US Trade Representative Jamieson Greer urged G20 major economies to refrain from coercive food trade actions. He emphasized the need to tackle industrial overcapacity and reassess the existing tariff system. Greer highlighted concerns regarding China's industrial policies contributing to excess capacity in global markets. Discussions among G20 members included potential tariffs on steel from countries with overproduction issues.
China factory activity returns to growth in September as AI boom supports industry
China's manufacturing sector showed signs of recovery with a manufacturing purchasing managers' index of 50.1 in September. This marks an improvement from the previous month's reading of 49.8, indicating a rebound in factory activity. Easing weather disruptions and a boost from the global AI industry contributed to this growth. Policymakers are under pressure to implement further support measures as economic readings remain soft.
The US-Iran war is now squeezing two major shipping routes from Strait of Hormuz to the Red Sea — here’s why global trade could feel the impact
The ongoing US-Iran war is affecting vital maritime chokepoints, specifically the Strait of Hormuz and Bab el-Mandeb Strait. Shipping traffic has decreased significantly through Hormuz due to conflict, impacting global energy markets. The situation at Bab el-Mandeb has worsened after Houthi forces seized strategic Perim Island. Discussions between the US and Iran continue with hopes for reopening Hormuz amid rising concerns.
Niti Aayog to review export SOPs amid evolving global trade order
India plans to evaluate the effectiveness of two export support schemes amidst changing trade dynamics. These schemes, RoSCTL and RoDTEP, have been in place since 2019 and 2021, respectively. The upcoming analysis will consider various economic impacts, including productivity and investment levels.
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