Drop in EU-India trade flows: Report

September 29th, 2009 MOSCOW - Trade between India and Russia could reach $10 billion in 2010, Russian Deputy Prime Minister Alexander Zhukov said Tuesday. "Trade is forecast to reach $8.4 billion in 2009, and we are able to...

September 21st, 2009 ADB raises Asia forecasts as region leads recoveryBEIJING — The Asian Development Bank raised its growth forecasts for China and India on Tuesday and said the region is leading a global recovery but warned against ending stimulus efforts too quickly. The bank increased its 2009 growth forecast for China from its 7 percent outlook in March to 8.2 percent, and India from 5 percent to 6 percent.

September 13th, 2009 NEW DELHI - India's business with Sweden is booming and bilateral trade is likely to double to $5 billion in five years, according to a report by the Confederation of Indian Industry (CII). Bilateral trade expanded almost four-fold between 2002-03 and 2007-08 to stand at $2.7 billion.

September 6th, 2009 NEW DELHI - Pakistan's Commerce Secretary Suleman Ghani has said that trade between India and Pakistan can go up to 10 billion dollars per annum in 5-6 years if both the countries resume their dialogue. "If everything goes right then once we resume dialogue, it should not take more than 5-6 years for trade to reach 10 billion dollars from the current 2 billion dollars," The News quoted Ghani as saying.

July 26th, 2009 JOHANNESBURG - The South African government is to press its regional partners in the Southern African Customs Union (SACU) to speed up the finalisation of the preferential trade agreement with India that could double the current $6-billion trade between the two countries. SACU consists of Botswana, Lesotho, Namibia, South Africa and Swaziland.

July 14th, 2009 NEW DELHI - India, China and Mexico retain their positions as the top recipients of migrant remittances among developing countries, said the World Bank Tuesday. As per official estimates, India has the largest diaspora of 25 million spread over 136 countries.

July 9th, 2009 L'AQUILA - The groups of rich and developing countries, including India, are likely to commit themselves to early conclusion of the Doha Development Round of multilateral trade talks under the World Trade Organisation (WTO) later Thursday. A statement in this regard to this effect is expected from the G8 and G5 countries, as well as Egypt, at the G8 Summit being held at this quake-hit Italian city, some 100 km northeast of Rome.

June 22nd, 2009 World Bank cuts 2009 global growth forecastBEIJING — The World Bank has cut its 2009 global growth forecast, saying the world economy will shrink by 2.9 percent and warning that a drop in investment in developing countries will increase poverty. "The global recession has deepened," the Washington-based multilateral lender said in a report.

June 21st, 2009 NEW DELHI - Bilateral trade between India and the US can reach $320 billion by 2018, an eight-time increase from $42 billion in 2007-08, says a report by the Confederation of Indian Industry (CII). "Given the right conditions, merchandise trade could rise to $320 billion by 2018," said the report, "India-US Economic Relations: The Next Decade", released by Commerce Minister Anand Sharma in New York.

June 18th, 2009 LONDON - India has emerged as the second largest investor in Britain, with a recession-busting 44 percent jump in the number of projects it has created since 2008, new figures reveal. Projects created or brought in by Indian investments number 108 -- behind top-ranking US's 621 and just ahead of third-ranked France's 101, the British government's trade and investment department said.

June 18th, 2009 WASHINGTON - India and US will consult with public and private stakeholders on how to bring down trade barriers and open markets for exporters as they discuss multilateral issues like the Doha round of world trade talks even as Washington expects New Delhi to take "bold steps" on trade liberalisation and economic reforms. Visiting Indian Commerce and Industry Minister Anand Sharma and US Trade Representative (USTR) Ronald Kirk agreed on such consultations during a meeting Wednesday to discuss strengthening the bilateral US-India trade relationship.

June 17th, 2009 Current account trade deficit drops to $101.5BWASHINGTON — The deficit in the broadest measure of trade plunged sharply in the first three months of the year as the country's deep recession depressed imports of oil and other goods. The Commerce Department said Wednesday the current account trade deficit dropped to $101.5 billion in the first quarter, a 34.5 percent decline from the deficit in the fourth quarter.

May 14th, 2009 BRUSSELS - Foreign direct investment (FDI) between India and the European Union (EU) declined sharply in 2008 amidst the global economic slump, the 27-member bloc's statistical office said Thursday. FDI from India into the EU as a whole dropped from 10 billion euros ($ 13.5 billion) in 2007 to 2.4 billion euros ($3.2 billion) in 2008, the Eurostat report said.

March 27th, 2009 BRUSSELS - The European Parliament has expressed disappointment over the slow pace of negotiations on a Free Trade Agreement (FTA) with India, EuAsiaNews reported. In a report adopted during a plenary session of the block in the French city of Strasbourg Thursday, the members expressed disappointment with the slow pace of negotiations.

January 6th, 2009 NEW DELHI - Even as India's exports decline, India-African bilateral trade is projected to grow by over nine times from $26 billion now to $150 billion by 2012, according to an estimate by a leading business chamber. The Associated Chambers of Commerce and Industry of India (Assocham), in a report on Africa, projects that in the next four years the continent will have greater business significance and drive two-way trade to over $150 billion.