Economy & Trade

India, UAE Commence Crude Oil Trade Using Local Currency Settlement (LCS) Framework

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India and the UAE recently executed their first crude oil transaction involving 1 million barrels of crude oil using the Local Currency Settlement (LCS) mechanism, signalling a pivotal shift in the cross-border trade approach between the two nations.

Advance Authorization Scheme in India: Changes Made to Ease Compliance Burden on Exporters

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India is simplifying its advance authorization scheme to expedite the process for exporters seeking duty-free imports of input materials that are used for final export goods.

Investing in Karnataka, India: State Profile, Infrastructure, and Enabling Policies

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Karnataka in South India attracted major new investments in 2022-23 and continues to build up its business-friendly profile. Foxconn has announced intentions to invest further in a supplementary plant.

India-UK FTA: Broad Consensus on Scotch Whisky Imports Worry IMFL Brands

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Despite concerns from domestic and IMFL whisky brands, discussions on Indian imports of Scotch whisky have made some progress, which is expected to be well-received by Indian consumers. The discussions had been previously held up due to tariff disputes.

India-Japan Economic Partnership: Bilateral Trade, Infrastructure Projects, and Semiconductor Collaboration

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Semiconductors, decarbonization, manufacturing, and infrastructure projects are key areas of India-Japan investor collaboration. They overlap with India’s ambitious growth goals and economic development aspirations.

India’s Market Access Initiatives Scheme Offers Airfare Support for Start-ups and New Exporters

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India’s government has revamped the Market Access Initiatives (MAI) Scheme to provide financial incentives for exporters and start-ups.

India-France Strategic Partnership: Horizon 2047 Roadmap, Trade, and Investment

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Following PM Modi’s invitation to attend France’s Bastille Day celebrations amid 25 years of India-France strategic ties, the two countries agreed to a Horizon 2047 Roadmap. We discuss key thrust areas and note bilateral trade and investment trends.

Tamil Nadu State’s Exports Report Card for 2022-23

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In FY 2023, Tamil Nadu’s electronics exports reached US$5.37 billion, triple the previous year, making it the top Indian state in this domain. Further, the state topped India’s Export Preparedness Index for 2022.

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