Strong domestic demand widens the trade deficit in June

The trade deficit widened in June, partly due to a rise in non-oil-non-gold (NONG) imports, a key indicator of domestic demand. “Details within the import bill throws up two interesting developments – higher food imports to augment domestic supplies ahead of potentially weak monsoon rains and firmer urban consumption demand for electronics and transport equipment,” […]

Indian trade forum Assocham to open an office in Iran

The Associated Chamber of Commerce and Industry of India (ASSOCHAM), India’s third biggest industry forum, today announced it will consider opening office in Teheran, immediately after global trade with Iran becomes normal following lifting of international sanctions. Yesterday, Western powers and Iran announced an agreement to move towards normalization of trade and diplomatic relationships. Till […]

WTO confirms reciept of US complaint against Chinese export incentives

The United States has filed a ‘request for consultations’ with China at the World Trade Organization regarding “certain measures that allegedly provide export-contingent subsidies to enterprises in several industrial sectors.” The WTO said these sectors include textiles, agriculture, medical products, light industry, special chemical engineering, new materials, and hardware and building materials. “According to the […]