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Time of India
14-07-2025
- Business
- Time of India
CM hold talks with UAE foreign trade minister, Emirates Airlines
Bhopal: On the second day of his visit to the UAE, chief minister Mohan Yadav visited the headquarters of the Textile Merchants Group (TEXMAS) and held discussions with leading textile traders in Dubai. He also met UAE minister of state for foreign trade Thani Bin Al Zeyoudi and Sheikh Ahmed bin Saeed Al Maktoum, chairman of Emirates Airlines and the Dubai Civil Aviation Authority among others. A t TEXMAS the high-level interaction on Monday focused on strengthening trade, innovation, and investment opportunities in the textile sector under the India–UAE Comprehensive Economic Partnership Agreement (CEPA). During the meeting, attended by TEXMAS chairman Nasir Akhoon, vice chairman Vinod Nagda, and other senior Indian-origin office bearers, both sides agreed to accelerate bilateral trade under CEPA. The chief minister told TEXMAS representatives that Madhya Pradesh is one of India's leading textile-producing states, with cutting-edge textile clusters like the PM MITRA Park in Dhar ready for global investors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo He also highlighted provisions under the new Industrial Policy 2025, including land allocation, capital subsidies, SGST reimbursement, and labour reforms. He invited UAE-based companies to explore technical collaboration in this area. The meeting between CM Yadav and Sheikh Ahmed bin Saeed Al Maktoum, chairman of Emirates Airlines and the Dubai Civil Aviation Authority marked an important step in strengthening aviation ties between Madhya Pradesh and the UAE. Yadav assured the state's readiness to participate in I2U2 (India, Israel, UAE, USA) partnerships in focus areas like clean tech, food logistics, and industrial innovation. He invited organizations like TEXMAS to initiate pilot projects in the state.
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First Post
03-07-2025
- Business
- First Post
Lithium, hydrocarbons, uranium…: Critical mineral reserves in countries PM Modi visits on 5-nation tour
As the global race for resources intensifies, Prime Minister Modi's five-nation tour signals India's resolve to secure its economic future through strategic mineral diplomacy read more As India sharpens its focus on securing critical minerals to drive its green energy and industrial ambitions, Prime Minister Narendra Modi's ongoing five-nation tour holds profound strategic significance. His visits to Ghana, Trinidad & Tobago, Argentina and Namibia — each rich in key mineral and energy resources — highlight India's evolving mineral diplomacy. This diplomatic offensive is geared toward building long-term partnerships in sectors such as lithium mining, hydrocarbons, uranium supply and rare earth elements, ensuring sustainable access to the raw materials needed for India's technological transformation. STORY CONTINUES BELOW THIS AD Apart from the four countries mentioned above, Prime Minister Modi's itinerary also includes Brazil, where he will travel from July 5 to 8. His visit will serve a dual purpose of attending the 17th Brics Summit in Rio de Janeiro and undertaking a formal State Visit. At the summit, the prime minister will engage with fellow Briocs leaders on pressing global challenges ranging from reforming international institutions and fostering global peace to advancing multilateral cooperation, ethical AI development, climate resilience, global public health and economic stability. A series of one-on-one meetings with other world leaders is also expected on the margins of the summit. Following the Brics deliberations, Prime Minister Modi will head to Brasília for high-level talks with President Luiz Inácio Lula da Silva. Their dialogue is set to deepen the India–Brazil Strategic Partnership, with a focus on boosting collaboration across key sectors including trade, defence, renewable energy, space exploration, digital innovation, sustainable agriculture, healthcare and people-to-people ties. Ghana: West Africa's lithium gateway and beyond Once primarily known for its exports of gold and cocoa, Ghana is increasingly seen as a key player in the global lithium supply chain. Ranking 10th globally and third in Africa in terms of lithium reserves, Ghana's west coast has become central to discussions on critical minerals. The lithium discovered in Ghana in 2018 has brought the country into the spotlight, especially as the world transitions to electric mobility and battery storage systems. This rise in mineral prominence aligns with India's green energy roadmap. Lithium is essential to the manufacture of lithium-ion batteries that power electric vehicles (EVs), smartphones and energy storage systems — technologies at the heart of India's energy security strategy. In light of this, Prime Minister Modi's visit to Ghana, the first by an Indian head of government in over three decades reflects a reinvigorated partnership anchored on shared resource interests. STORY CONTINUES BELOW THIS AD India has responded with an economic commitment, extending a line of credit worth approximately $450 million to Ghana, targeted at critical sectors like lithium, manganese and bauxite. According to the Ghana Investment Promotion Centre, Indian companies have invested in over 820 projects worth nearly $2 billion since 1994, positioning India as Ghana's second-largest investor by number of projects in 2024. Beyond trade, Prime Minister Modi and President John Mahama upgraded bilateral relations to a Comprehensive Partnership, focussing on energy, maritime security, defence and digital infrastructure. The two countries also signed Memoranda of Understanding covering areas such as traditional medicine, standards cooperation and cultural exchanges. With increasing Indian involvement in lithium exploration and capacity building, Ghana is poised to play a significant role in India's mineral security framework. Trinidad & Tobago: Energy diplomacy in the Caribbean Trinidad & Tobago, the largest producer of oil and natural gas in the Caribbean, represents a crucial energy partner for India. Positioned just north of Venezuela — a country with some of the world's largest hydrocarbon reserves — Trinidad & Tobago has a well-established petroleum industry dating back over a century. The country boasts one of the largest natural gas processing facilities in the Western Hemisphere and is the world's top exporter of ammonia and the second-largest exporter of methanol, as per data from IHS Global Insight. With global demand for clean-burning fuels increasing, Trinidad & Tobago's vast hydrocarbon reserves provide a vital option for India to diversify its energy imports. STORY CONTINUES BELOW THIS AD During his two-day visit beginning July 3, Prime Minister Modi shall meet with President Christine Carla Kangaloo and Prime Minister Kamla Persad-Bissessar to bolster bilateral relations that span not just energy, but also digital infrastructure, pharmaceuticals, renewable energy and disaster resilience. The focus on areas such as FinTech and digital payments — where India has considerable expertise — highlights the complementarity in the India-Trinidad & Tobago relationship. Given that nearly half of Trinidad & Tobago's population is of Indian origin, the visit also celebrated longstanding cultural and historical bonds while laying the groundwork for deeper strategic cooperation. Argentina: South America's lithium powerhouse and energy frontier With lithium demand surging due to the proliferation of electric vehicles and energy storage technologies, Argentina has emerged as one of the most strategically important countries in the world. Holding the second-largest lithium reserves globally — constituting about 20.94 per cent of the world's total, or nearly 22 million tonnes — Argentina is at the centre of the Lithium Triangle, alongside Bolivia and Chile. This region alone hosts over half of the world's known lithium resources. Most of Argentina's lithium lies in brine deposits in salt flats, offering cost-effective extraction opportunities. The nation currently commands approximately 13 per cent of the global lithium resource market and is rapidly increasing its production, making it indispensable to the global battery supply chain. India's interest in Argentina extends beyond lithium. The South American country also holds the second-largest shale gas and fourth-largest shale oil reserves globally, with the Vaca Muerta formation in Neuquén Province seen as a future energy hub. STORY CONTINUES BELOW THIS AD These assets have drawn increasing attention from Indian public and private sector companies. In 2024, a landmark deal was struck between India's state-owned KABIL and Argentina's CAMYEN for the leasing and development of five lithium blocks in Catamarca. Further, India and Argentina have expanded cooperation in oil and gas through agreements between OVL and Argentina's YPF. Defence ties are also growing, marked by the supply of helicopter components by Hindustan Aeronautics Limited and technology exchanges with FAdeA. Trade between the two nations has seen significant growth, rebounding to $5.2 billion in 2024 after a previous year's downturn due to climate-related disruptions. With over $1.2 billion in Indian investments in Argentina, spanning IT, engineering and manufacturing, the strategic relationship is gaining traction. Prime Minister Modi's visit is expected to further galvanise these partnerships, ensuring Indian industries gain access to critical raw materials while offering technology and investment in return. Namibia: Uranium and rare earths for strategic autonomy Namibia, often overshadowed in global headlines, is increasingly seen as a linchpin in India's quest for nuclear fuel security and rare earth elements. As the third-largest producer of uranium in the world — contributing roughly 11 per cent to global supply — Namibia is vital to the global nuclear energy chain. The country's uranium production is poised for a significant upswing, as new mining projects come online in 2024 and beyond, according to the Chamber of Mines of Namibia. India is actively courting Namibia to secure stable uranium supplies for its civilian nuclear power programme. The visit by Prime Minister Modi to Namibia marks a strategic outreach to not just bolster uranium imports, but also explore cooperation in rare earth minerals such as neodymium, dysprosium and cobalt. These minerals are essential for the manufacture of high-efficiency motors, wind turbines and advanced electronics — sectors critical to India's technological future. STORY CONTINUES BELOW THIS AD Namibia also boasts substantial reserves of diamonds and copper. Indian firms have invested heavily — over $800 million — in Namibia, particularly in diamond processing and services. Despite the fact that Namibia doesn't sell rough diamonds directly to India, Indian diamond traders access Namibian stones via hubs like Antwerp and London. Prime Minister Modi's visit could pave the way for more direct trade routes and collaborations in value addition. The country also ranks among the top 10 globally in rare earth element potential, offering India an opportunity to reduce its dependence on Chinese supply chains in this strategically sensitive domain. PM Modi's discussions in Namibia are expected to encompass defence cooperation, critical mineral exploration and deeper industrial partnerships. A mineral-driven diplomacy in action Prime Minister Narendra Modi's five-nation tour is not merely a diplomatic gesture; it is a manifestation of India's recalibrated foreign policy centred on energy security, mineral access and economic resilience. In each country, the bilateral agenda was carefully crafted around core Indian interests — securing lithium from Ghana and Argentina, hydrocarbons from Trinidad & Tobago and uranium and rare earths from Namibia. These strategic engagements are complemented by economic tools, including concessional credit lines, public-private investment and knowledge exchange. For instance, the $450 million credit to Ghana covers vital infrastructure like the Tema-Mpakadan railway line linking mineral-rich zones to export terminals. STORY CONTINUES BELOW THIS AD In Argentina, the public-sector KABIL's lithium acquisition marks a historic step in India's outward mineral acquisition strategy. From cultural diplomacy in Trinidad & Tobago to cutting-edge FinTech partnerships, India is broadening the definition of strategic engagement. At the heart of this diplomatic outreach is a desire to secure the critical minerals needed for energy transition, manufacturing expansion and digital transformation — three pillars of India's long-term development strategy. As the world races toward a resource-based geopolitical order, India's assertive mineral diplomacy, exemplified by Prime Minister Modi's five-nation tour, signals its intent to be a future-ready economy, securing its position in an increasingly competitive global resource arena.
Qatar Tribune
28-06-2025
- Business
- Qatar Tribune
EU-India FTA set to unlock economic opportunities
Agencies Brussels India and the European Union (EU) have nurtured a strong and evolving economic relations rooted in shared democratic values, strong complementarities, and a long-term vision of mutual prosperity. As the global trade architecture undergoes a profound transformation, driven by shifting supply chains, worsening -geopolitical conflicts, and sustainability imperatives, the proposed Free Trade Agreement (FTA) between India and the EU presents an unparalleled opportunity to redefine their economic partnership in the new global economic order. India's trade engagement with the EU dates back several decades, but the most significant turning point came in 1994 with the signing of the India–EU Cooperation Agreement. This accord laid the foundation for structured political and economic dialogue and paved the way for deeper commercial cooperation. Throughout the 2000s and early 2010s, India liberalized its trade regime and embraced global markets, leading to a surge in trade withthe EU. By 2006, India's exports to the EU stood at approximately $25 billion, and by 2018, they had nearly doubled. The trade basket expanded from traditional textiles and apparel to include pharmaceuticals, chemicals, auto components, and information technology services. Services trade witnessed rapid growth, with India consistently maintaining a surplus, particularly in IT and consulting. In recognition of this economic convergence, negotiations for a Broad-based Trade and Investment Agreement (BTIA) were launched in 2007. However, due to disagreements over tariff liberalization, intellectual property, and regulatory standards, talks stalled in 2013. Despite the pause, bilateral trade and investment ties remained resilient anddiversified. The post-COVID era provided a renewed impetus to reimagine global partnerships. Recognising the need for resilient supply chains and strategic diversification, India and the EU revived FTA negotiations in 2021. This time, the scope was broader and more forward-looking. Beyond trade in goods, the new talks aimed to cover services, investment protection, e-commerce, data governance, sustainability, and climate cooperation. The momentum received a further boost in March 2024 when India signed a landmark Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA), comprising Switzerland, Norway, Iceland, and Liechtenstein. The TEPA, India's first FTA with a European economic bloc, is expected to act as a catalyst for the India–EU FTA. In early 2025, diplomatic exchanges intensified with high-level meetings aimed at addressing critical issues impeding the FTA. Discussions focused on India's tariff structures, particularly on automobiles, wines, and dairy products. European concerns about sustainability and climate alignment, and India's expectations around professional mobility and data adequacy. These exchanges underscored a shared political commitment to conclude the agreement, albeit with an understanding of its complexity. India's trade trajectory with the EU over the past decade reflects steady growth trajectory. In the financial year 2014–15, India exported goods worth approximately $49.3 billion from the EU and imported about $48.3 billion with a total trade of $97.3 billion. The bilateral trade in goods expanded substantially with EU in 2024-25 at $136.4 billion showing a growth of more than 40 percent with exports expanding to $75.75 billion and imports at $60 billion with a trade surplus of about $15.75 billion. The top 10 items of exports and imports with EU include include a variety of goods, with machinery and transport equipment, chemicals, and manufactured goods. India's top 10 import items from the EU include machinery and transport equipment, chemicals, manufactured goods, and mineral fuels. Specifically, India imports electrical machinery, organic chemicals, machinery (including nuclear reactors and boilers), mineral fuels, and manufactured goods. India-EU also hold a strong trade trajectory of more than $ 50 billion with India in a trade surplus with EU. The bilateral trade in goods and services is expected to double within the five years of comprehensive Free Trade Agreement with EU Alongside trade, investment flows between India and the EU have expanded considerably. The EU is India's largest source of foreign direct investment (FDI), accounting for nearly 16 percent of total FDI inflows since 2000. As of December 2024, the cumulative EU investment stock in India stood at approximately $119 billion, marking a sharp rise from around $91 billion in 2019. In the fiscal year 2024–25 alone, EU investments in India exceeded $17 billion. These flows have been directed towards high-growth sectors such as automotive manufacturing, renewable energy, pharmaceuticals, and digital infrastructure. Major European companies including Airbus, Siemens, Schneider Electric, and Bosch have not only expanded their Indian footprint but have also actively participated in technology transfers and skill development initiatives. Conversely, Indian investments in the EU have also shown a steady rise, reaching an estimated $11.2 billion by 2024. Indian firms such as Tata Motors, Infosys, Sun Pharma, and Wipro have made strategic investments into the European market through greenfield investments, joint ventures, and acquisitions. These ventures span across sectors such as automotive, life sciences, financial technology, and business consulting. This two-way investment flow reflects growing mutual confidence and underlines the interdependence of the two economies. As of 2025, the India–EU FTA negotiations have entered an advanced phase, though several complex issues are expected to come at conclusions soon. The EU is seeking substantial tariff cuts on sectors like automobiles and alcoholic beverages, India, in return, wants more liberal visa policies, mutual recognition of professional qualifications, and assurance on its data protection framework being deemed adequate under EU standards. A particularly contentious issue is the EU's Carbon Border Adjustment Mechanism (CBAM), which imposes levies on carbon-intensive imports such as steel and cement. Despite these challenges, both sides are exploring a phased or modular approach. A possible roadmap involves signing an 'early harvest' agreement covering low-sensitivity sectors such as textiles, pharmaceuticals, machinery, and IT services, followed by gradual liberalization in more sensitive areas. The successful implementation of the India–EFTA TEPA can offer useful lessons and establish trust around dispute resolution, labour standards, and environmental safeguards. Looking ahead, the future of India–EU bilateral economic relations appears promising. The EU is India's second-largest trading partner and a key source of capital, innovation, and clean technology. A comprehensive FTA could potentially double bilateral trade within five years and unlock new areas of cooperation. Digital trade stands out as a particularly promising domain, given India's prowess in IT and the EU's technological depth. Moreover, both partners are committed to climate goals under the Paris Agreement. This opens avenues for collaboration in green hydrogen, solar energy, electric vehicles, and circular economy models. Strategically, the India–EU partnership also serves as a hedge against rising protectionism and supply chain vulnerabilities. Amid growing geopolitical uncertainties, a robust India–EU economic corridor would not only strengthen regional stability but also reinforce global rules-based trade. The FTA, once concluded, could serve as a model for equitable, development-friendly trade agreements between developed and emerging economies. In conclusion, the proposed India–EU Free Trade Agreement holds transformative potential. While there are several hurdles to overcome, the long-term strategic and economic benefits make a compelling case for its early conclusion. A well-designed FTA would not only boost trade and investment but also enhance innovation, sustainability, and geopolitical cooperation. With sustained political will, stakeholder engagement, and creative diplomacy, the India–EU FTA could emerge as a landmark pact, reshaping global trade dynamics and advancing shared prosperity.
New Indian Express
13-06-2025
- Politics
- New Indian Express
Defence Secretary Rajesh Kumar presides over closing ceremony of India-Mongolia joint military exercise
NEW DELHI: Defence Secretary Rajesh Kumar Singh reaffirmed the strength of India–Mongolia bilateral military ties as he attended the culmination of the 17th edition of the India–Mongolia Joint Military Exercise Nomadic Elephant in Ulaanbaatar on Friday. He was joined by Lieutenant General Pushpendra Singh, Director General of Operational Logistics and Strategic Movement, at the closing ceremony. The Indian Army contingent, consisting of 45 personnel, primarily from a battalion of the Arunachal Scouts, actively participated in the two-week-long exercise. The joint training focused on enhancing interoperability between the Indian Army and the Mongolian Armed Forces, operating as a combined task force in semi-conventional scenarios, covering semi-urban and mountainous terrain, under a United Nations mandate A key component of Nomadic Elephant involved simulated UN peacekeeping operations to replicate real-world scenarios in which multinational forces must collaborate under diverse and challenging conditions.
Fibre2Fashion
13-06-2025
- Business
- Fibre2Fashion
India, Sweden deepen trade and innovation partnership
Union Minister of Commerce and Industry, Piyush Goyal held a series of substantive engagements with senior members of the Swedish government and industry leaders on his two-day official visit to Stockholm. The visit aimed at further deepening the bilateral economic relationship, enhancing trade and investment flows, and exploring new avenues of cooperation in emerging sectors. In his official interactions, Goyal met with Benjamin Dousa, Minister for International Development Cooperation and Foreign Trade, and Håkan Jevrell, State Secretary for Foreign Trade. Discussions focused on expanding the scope of India–Sweden trade and investment partnership, facilitating sustainable industrial collaboration, and identifying key areas for technology and innovation-driven growth. During his Stockholm visit, Indian minister Piyush Goyal advanced Indiaâ€'Sweden economic ties through meetings with government officials and industry leaders. Key discussions focused on trade, innovation, sustainability, and investment. Swedish firms showed strong interest in expanding in India, reinforcing a shared commitment to deeper, future-oriented collaboration. The 21st session of the India–Sweden joint commission for economic, industrial and scientific cooperation was held during the visit. The agenda included strategic cooperation in innovation and research and a roundtable discussion on strengthening the India–Sweden economic partnership. The meeting witnessed participation from key Swedish institutions including LeadIT, Vinnova, the Swedish Energy Agency, the Swedish National Space Agency, the National Board of Trade, the Swedish Export Credit Agency, Business Sweden, and the Swedish Chamber of Commerce in India. Both sides underscored their shared commitment to advancing joint projects in green transition, advanced technologies, and resilient supply chains, the Ministry of Commerce and Industry said in a press release. Goyal also addressed the India–Sweden business leaders' roundtable, where he interacted with key members of Swedish industry. He invited companies to enhance their footprint in India by taking advantage of the country's enabling regulatory environment, growing consumer base, skilled talent pool, and well-developed industrial infrastructure. The roundtable served as a platform for strengthening private-sector collaboration in clean energy, smart manufacturing, mobility, life sciences, and digital technologies. The minister participated in the India–Sweden high-level Trade and Investment Policy Forum at the Confederation of Swedish Enterprise. The forum brought together business leaders and policy-makers from both sides to discuss the evolving trade architecture and opportunities under the proposed India–EU Free Trade Agreement. Presentations were made by CII and the Confederation of Swedish Enterprise. CEOs from leading companies shared their views on enhancing value-chain partnerships, technology transfers, and investment facilitation. A number of one-on-one meetings were held with Swedish companies from sectors such as automation, renewable energy, sustainable food systems, maritime technology, and advanced materials. Several companies conveyed strong confidence in the Indian economy and expressed intent to scale their presence through new investments, capacity expansion, and deeper localisation. Areas of support discussed included facilitation in land access, skilling partnerships, and fast-track clearances. Fibre2Fashion News Desk (RR)
