-Abhishek Vij US President Donald Trump never tires of calling Prime Minister Narendra Modi his old friend. Despite this, India has been facing threats from Trump to increase tariffs on petrol purchased from Russia. Going further, the US Congress has now passed a new law giving Trump the power to impose 100% tariffs on countries.
With the West Asia conflict leading to energy shocks and disruption in supply chains due to the choking of Strait of Hormuz, the importance of alternative trade routes for countries like India has come to the fore. In this context, the Eastern Maritime Corridor (EMC), an Indo-Pacific seaborne trade route between southern India and Russia’s.
After Iran demonstrated that it can exploit its geographical advantage to use the Strait of Hormuz as a chokepoint and monetise transit through the narrow waterway by charging a fee on ships, the trend appears to be spreading, with Indonesia sending a signal that it is contemplating similar steps to raise revenue from the Strait.
Union Commerce and Industry Minister Piyush Goyal on Sunday said that India’s recent free trade agreements with developed economies had given the country preferred access to markets accounting for nearly 70 per cent of global GDP.
Amidst the fierce conflict raging in West Asia—involving the US, Israel, and Iran—reports regarding ceasefires and peace talks in Islamabad suggest that these efforts have hit a roadblock. This climate of uncertainty is impacting the majority of nations across the globe. Due to disruptions in supply chains, industries, businesses, and international trade in the affected.
London, April 10: UK Foreign Secretary Yvette Cooper on Friday reiterated Britain’s call for freedom of navigation, making it clear that the Strait of Hormuz must be fully reopened, without restrictions or tolls. UK Stresses ‘Free Navigation’ as Global Trade Hit “In my Mansion House speech, I made clear: the Strait of Hormuz must be.
South Korea is in active discussions with Iran and other regional partners to ensure the safe passage of its ships through the Gulf maritime corridor, a crucial route for global energy trade. This step comes amid heightened geopolitical tensions in the Persian Gulf region, which is a key route for transporting oil and liquefied natural.
New Delhi: Calling the US decision to reduce tariffs to 10 per cent a ‘very positive development’ for emerging markets, an expert on Saturday said the move helps normalise global trade and brings much-needed clarity to businesses and investors. A Welcome Step and Relief to India Speaking to IANS on the sidelines of an event.
The India–New Zealand Free Trade Agreement (FTA) has sent a clear message that pragmatism has prevailed, with both sides agreeing on a framework for a bilateral economic partnership aimed at the mid-21st century, according to a new report.
Mumbai: Prime Minister Narendra Modi inaugurated the Navi Mumbai International Airport and unveiled various developmental projects in Mumbai on Wednesday, saying that the new international airport and underground metro are set to transform travel and connectivity in the city. Noting that Mumbai’s long wait has ended with the city now receiving its second international airport,.
