Stay updated with the Global Import and Export Industry with Well Formulated Information
Every morning, we start our day with a cup of tea, for a fresh mind for a whole day. This tea, which makes our day is not just a beverage, it has thousands of years of history, from its origin in ancient times to its popularity today, tea has captivated people with its diverse flavours with cultural tastes.
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India is facing an impact of the ongoing crisis around the Red Sea shipping route. The country is heavily reliant on the Red Sea route through the Suez Canal for its trade of goods with global regions, particularly Europe, North America, North Africa, and the Middle East. These regions accounted for about 50% of India’s exports and about 30% of imports. Let’s understand how Red Crisis may impact on India’s exports and imports of commodities.
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With the ongoing tensions between Maldives and India, Maldives’s trade relations with China are getting better. Maldives is focusing on importing more goods from China, instead relying on India. Recently, Maldives has signed new agreement with China to boost their trade relations. Following Maldives criticism of India, the new government of Maldives has put restrictions on importing goods from India.
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India is aimed at promoting climate-resilient activities and sustainable development in coastal areas. In interim budget 2024, the minister has announced unveiled plans for the launch of Blue Economy 2.0. The scheme will focus on restoration and adaptation measures, as well as the expansion of coastal aquaculture and mariculture, adopting an integrated and muti-sectoral approach.
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Ever wondered what plays an important role in the country’s ambitious goal of achieving trillion-dollar exports of goods and what are the driving forces behind export dominance in the global market? Let’s explore this with the help of India’s ambitious target of trade exports. India, the fastest-growing economy in the world, 3rd largest in purchasing power parity and 5th largest in nominal GDP, set an ambitious target to achieve $1 trillion in exports by 2030. States have also joined with their vision of a trillion-dollar-state GDP to accelerate the process.
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