The Association of Indian Medical Device Industry (AIMED) has urged the central government to reconsider discussions on reducing import duties on medical devices from the United States, citing concerns over potential harm to the domestic industry. The manufacturers’ association stressed the need for a balanced approach that safeguards local production while fostering fair trade. The appeal follows a recommendation by the Global Trade Research Initiative (GTRI) for India to negotiate reciprocal trade terms in ongoing Free Trade Agreement (FTA) discussions with the European Union. AIMED underscored the importance of securing better market access for Indian medical devices in global markets.…

The Philippines is actively pursuing India as a new nickel trade partner, a move that analysts interpreted as an effort to reduce dependence on China and strengthen Manila’s position as a key supplier for New Delhi’s expanding manufacturing industry. During his visit to India on Monday, Philippines’ Foreign Affairs Secretary Enrique Manalo highlighted his country’s interest in integrating India into its nickel sector. He emphasized that this partnership would not only diversify exports but also support the development of a value chain in processing and manufacturing. As the world’s largest exporter of nickel ore, a crucial component in lithium-ion batteries,…

Ukraine’s arms imports have skyrocketed between 2020 and 2024, increasing nearly 100 times compared to the previous five-year period, making the country the world’s largest recipient of weapons. The surge, driven by Russia’s aggression and military aid from allies, has significantly reshaped global arms trade patterns, according to a report by the Stockholm International Peace Research Institute (SIPRI). European nations saw a 155% rise in major weapons imports between 2015-2019 and 2020-2024, with Ukraine alone recording a 9,627% increase. At least 35 countries have supplied Ukraine with arms, with the United States, Germany, and Poland leading the contributions. Hungary recorded…

Morocco has become Spain’s top African trade partner, reaching record trade volumes in 2024, according to the Spanish Ministry of Economy, Trade, and Enterprise. Trade exchanges between the two nations have reached an unprecedented €22.7 billion, reinforcing Morocco’s position as Spain’s seventh-largest global client and third-largest non-EU trading partner, trailing only the United Kingdom and the United States. This surge has propelled Morocco ahead of Belgium and the Netherlands in Spain’s global trade rankings. Spanish exports to Morocco amounted to €12.86 billion in 2024, accounting for 3.34% of Spain’s total exports. These exports are well-diversified across sectors, with fuels leading…

New Zealand’s Prime Minister Christopher Luxon announced on Tuesday that India and New Zealand are set to finalize a free trade agreement (FTA) within the next two months. The pact is expected to strengthen bilateral trade, particularly in agriculture, aerospace, and renewable energy. The negotiations, resuming after a decade-long pause, gained momentum following a meeting between Prime Minister Narendra Modi and Luxon during the latter’s visit to India. Speaking at a business gathering, Luxon emphasized the importance of advancing the trade relationship, expressing confidence in signing the agreement with Modi within 60 days. This development comes amid rising global trade…

The Aluminium Association of India (AAI) has called on the government to extend the Remission of Duties or Taxes on Export Products (RoDTEP) Scheme for aluminium-producing units in Special Economic Zones (SEZs), citing concerns over global trade uncertainties. Under the RoDTEP Scheme, exporters are eligible for refunds on embedded central, state, and local duties and taxes. Until February this year, aluminium-producing units operating under Advance Authorisation (AA) holders, Export Oriented Units (EOUs), and SEZs were covered under the scheme. In a statement, AAI highlighted the critical need to continue the RoDTEP benefits for aluminum producers operating within AA/EOU/SEZ units. With…

Egypt, the world’s largest date producer with an annual output of 1.87 million tons, currently exports only 2% of its production, highlighting significant growth potential. According to the Agricultural Export Council (AEC), date exports generate $90 million annually, contributing just 1% of Egypt’s total agricultural exports. Expanding Market Opportunities With Saudi Arabia—the second-largest date producer—consuming 80% of its 1.64 million ton output domestically, Egypt has an opportunity to strengthen its export market. The country currently exports premium date varieties such as Medjool, Sukkary, Khalas, and Ajwa, but experts suggest diversifying its offerings to include semi-dry varieties, which are in high…

Apple is set to begin manufacturing AirPods in India at Foxconn’s Hyderabad facility starting in April 2025, according to industry sources. This marks Apple’s second major product category to be produced in India, following the iPhone. A source familiar with the development stated, “Production of AirPods will commence at Foxconn’s Hyderabad plant in April, but it will initially be exclusively for exports.” Foxconn, Apple’s key manufacturing partner, has invested $400 million to establish the Hyderabad plant, a move aligned with Apple’s broader strategy to diversify its global supply chain. Apple currently leads the global true wireless stereo (TWS) device market,…

The latest Global Trade Update by the UN Trade and Development (UNCTAD) reveals a mixed global economic outlook, with developing nations—particularly India and China—leading trade expansion, even as the world grapples with economic challenges. While global trade surged by nearly $1.2 trillion in 2024, reaching a total of $33 trillion, concerns over trade imbalances, geopolitical tensions, and rising protectionist policies cast a shadow over 2025. India and China emerged as key drivers of trade momentum in the fourth quarter of 2024. Both nations recorded higher-than-average trade growth, contrasting with the sluggish performance of several developed economies. India’s quarterly imports in…

Ethiopia is intensifying efforts to rectify its trade imbalance by enhancing transport and logistics infrastructure, the Ministry of Transport and Logistics announced at a forum held in Addis Ababa under the theme ‘Driving Efficiency through Seamless Connectivity.’ Speaking at the forum, Minister of Transport and Logistics Alemu Sime highlighted the government’s commitment to reducing the nation’s trade deficit through strategic improvements in the sector, particularly in railway infrastructure. He emphasized that enhancing the efficiency and accessibility of transport and logistics services, including the railway network, is crucial for achieving a balanced trade regime and strengthening Ethiopia’s global competitiveness. The minister…