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United News of India
3 days ago
- Business
- United News of India
India should prioritise a service-focused trade deal with US: NITI Aayog report
New Delhi, July 16 (UNI) NITI Aayog (National Institution for Transforming India), apex public policy think tank of India, revealed its 'Trade Watch Quarterly' publication for the third quarter of the Financial Year 2025. The focus of this edition is on measuring the implications of tariffs imposed by the United States on India's export competitiveness. Dr Arvind Virmani, Member of NITI Aayog, released the edition and congratulated the entire team for providing in-depth insights about the latest trade turbulence and India's status in the current trade evolution rounds. He also pointed towards the rising competitiveness, innovation, and strategic efforts to expand India's presence in key markets such as the United States. This report presented a data-driven picture of current economic health, including the Quarter 3 merchandise exports grew to the mark of 3pc (approx $108.7 billion), service surplus growth of $52.3 billion. The growth of the service sector is driven by a 17 pc growth in India's service exports. This also shows the optimism of global consumers in the Indian economy. India also emerged as the world's fifth-largest exporter with an investment of $269 billion in Digitally Delivered Services (DDS). The Trade Watch Quarterly report also highlighted that India can leverage the opportunity to expand its footprint in the US market. It's especially for the sectors such as pharmaceuticals, textiles, electric machinery, and others. The third Trade Watch Quarterly report pointed out the importance of the United States as a key trade destination for India. The report suggested some policy shifts, including targeted export promotion, deep integration into global value chains, and service-focused trade agreements. The report also highlighted the key sectors, including digital trade and cross-border data flows, including agility in policymaking on making new trade alignments. This thematic edition serves as a base for policymakers, industry, and academia to prioritize key policies regarding trade. UNI SAS PRS
Leaders
22-04-2025
- Business
- Leaders
Saudi Energy Minister Receives India's PM Principal Secretary
The Saudi Minister of Energy, Prince Abdulaziz bin Salman, on Monday met with the Principal Secretary of India's Prime Minister, P.K. Mishra, in Riyadh, reported the Saudi Press Agency (SPA). Prince Abdulaziz bin Salman also met with the CEO of the National Institution for Transforming India (NITI Aayog), B.V.R. Subrahmanyam. During their meeting, they reviewed relations between Saudi Arabia and India and explored ways to further strengthen them across various sectors. Moreover, they discussed ways to bolster coordination on issues of common interest. Modi's Visit to Saudi Arabia The meeting came ahead of India's Prime Minister, Narendra Modi, official visit to Saudi Arabia, scheduled to start on Tuesday, April 22, 2025, upon the invitation of the Saudi Crown Prince and Prime Minister, Mohammed bin Salman. Modi will visit Jeddah, in his first visit to Saudi Arabia's commercial capital and third visit to the Kingdom, according to the Times of India. The visit aligns with the ongoing efforts to boost bilateral relations. During his two-day trip, Modi will take part in several meetings and sign agreements. The Indian Prime Minister and the Saudi Crown Prince will co-chair the second meeting of the Saudi-India Strategic Partnership Council. Both leaders are expected to discuss several regional and international issues. The visit will also see the signing of multiple memoranda of understanding (MoUs) covering a wide range of areas, including economy and defense. Deep Ties On this occasion, Modi praised the Saudi-Indian ties. 'India values our historic relations with Saudi Arabia. Bilateral ties have gained significant momentum in the last decade,' he posted on X. Furthermore, India's Prime Minister hailed Saudi-Indian relations. In an interview with Arab News, Modi described Saudi Arabia as 'a trusted friend, strategic ally and one of the most valued partners for India,' adding that the partnership between the two countries 'has limitless potential.' He also praised the Saudi Crown Prince's leadership, calling him 'a strong advocate of our bilateral ties.' Short link : Post Views: 1
Saudi Gazette
21-04-2025
- Business
- Saudi Gazette
Energy minister meets Indian PM's principal secretary and Egypt's FM
Saudi Gazette report RIYADH — Saudi Minister of Energy Prince Abdulaziz bin Salman met with P.K. Mishra, principal secretary to the prime minister of India and B.V.R. Subrahmanyam, CEO of the National Institution for Transforming India (NITI Aayog) in Riyadh on Monday. The meeting focused on strengthening bilateral cooperation across key sectors and enhancing coordination on issues of shared interest. Also on Monday, Prince Abdulaziz bin Salman held talks with Egypt's Minister of Foreign Affairs, Immigration, and Egyptian Expatriates Affairs Badr Abdel Aty. The two ministers discussed expanding collaboration across energy fields and reviewed prospects for deepening bilateral ties that serve the mutual interests of both countries.
