Join us

Searched Tag: red sea

India's exports surge 11-month high despite Red Sea disruptions, trade deficit improves

March 15, 2024, 08:24 PM - 2 min read

Despite the challenges posed by the geopolitical crisis in the Red Sea region, India's overall trade deficit improved by 37.80% from April-February 2022-23 to April-February 2023-24, falling to $72.24 billion. The merchandise trade deficit decreased by 8.43% to $225.20 billion during the same period.

GTRI warns of trade data fallout from prolonged Red Sea Crisis in upcoming fiscal year

March 12, 2024, 01:29 PM - 2 min read

According to the report, this war is causing higher insurance premiums (15–20 percent), delays caused by rerouting (up to 20 days longer), and possible cargo loss from piracy and attacks. Shipping expenses are also expected to grow by 40–60 percent.

Representatives from various ministries and exporters are set to convene with top officials of India's commerce ministry on Friday to deliberate upon the ramifications of the ongoing Red Sea crisis on Indian exporters.

Commerce secretary to meet exporters, officials to discuss Red Sea crisis

March 7, 2024, 06:46 PM - 2 min read

In April 2023 the World Trade Organization (WTO) had forecast that merchandise trade volumes would likely grow 1.7% that year. However, disruptions in the Red Sea region coupled with a global economic slowdown will likely lead to a less than 0.8% increase, well short of the WTO's April projection, the organisation’s chief Ngozi Okonjo-Iweala said at the 13th Ministerial Conference (MC13) in Abu Dhabi last week.

Red Sea tensions soar: Houthi rebels launch daring attack on US fleet

March 6, 2024, 12:28 PM - 2 min read

Yemen's Houthi militants have once again stirred international tensions by targeting two US warship destroyers in the Red Sea. This recent attack, involving both naval missiles and drones, has escalated concerns over the group's military capabilities and regional stability.