Day: March 6, 2023

Mar 06

The Top 5 Most Demanded Commodities in the World

Commodities are the raw materials that are essential for the functioning of modern economies. They are the backbone of many industries and are used to manufacture a wide range of products that we use in our daily lives. While there are many different types of commodities, some are more in demand than others. In this article, we will explore the top 5 most demanded commodities in the world. Crude OilCrude oil is the most demanded commodity in the world, with Read Full Details…

Mar 06

Global Demand of Lithium and Cobalt for Electric Vehicles and Future Business scope in India

Electric Vehicles (EVs) have emerged as a key solution to reduce carbon emissions and mitigate climate change. The global demand for Lithium and Cobalt, two essential components of the batteries that power EVs, has been on the rise in recent years. With the increase in the production and adoption of EVs, the demand for these materials is expected to continue to grow. This article explores the global demand for lithium and cobalt for electric vehicles and the future business scope Read Full Details…

Mar 06

Measures taken by Government to boost exports

Posted On: 16 DEC 2022 5:30PM by PIB DelhiThe Government has taken the following measures to boost exports and reduce trade deficit: Foreign Trade Policy (2015-20) extended upto 31-03-2023.Interest Equalization Scheme on pre and post shipment rupee export credit has also been extended upto 31-03-2024. Assistance provided through several schemes to promote exports, namely, Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme. Rebate of State and Central Levies and Taxes (RoSCTL) Scheme to promote labour oriented Read Full Details…

Mar 06

Foreign Trade Administrative Setup Requirements for Boosting Exports in Potential Villages including Rural/Remote areas of Each District in India

India has a significant potential to expand its exports, but many of its rural and remote areas are still untapped. These areas have immense potential to become key players in the export industry. However, there are various challenges that need to be addressed before the rural/remote areas of India can become an integral part of the country’s export market. To overcome these challenges, a foreign trade administrative setup is required that will provide adequate support and incentives to the rural/remote Read Full Details…

Mar 06

Taking Nepali tea to the world

Nepal is uniquely positioned to cash in on growing demand for orthodox and speciality tea in the international market. Nepal is one of the most fertile places in the world to grow high-quality tea. And, naturally, tea remains at the centre stage of Nepali culinary culture. Like much of South Asia, Nepal indulges in boiled tea mixed with milk, sugar, ginger and cardamom; but Nepali tea cannot be put in the same cup as other varieties elsewhere, not least the Read Full Details…

Mar 06

The Rise of China as A Global Economic Superpower and Its Impact on International Trade

As China continues to experience remarkable economic growth, its impact on international trade has become increasingly significant. China’s population of over 1.4 billion people, its vast industrial capabilities, and its technological advancements have made it a formidable player in the global economic system. The implications of China’s rise are complex and far-reaching, with both positive and negative effects on international trade. At the core of China’s economic success lies its manufacturing prowess. The country has become the world’s leading producer Read Full Details…

Mar 06

Global Wildlife Trade Agreement Marks 50th Anniversary

50 Groups Call for Renewed Ambition at CITES to Halt Biodiversity Loss WASHINGTON— Fifty organizations from around the world are urging an ambitious response to the extinction crisis as the Convention on International Trade in Endangered Species turns 50 years old on Friday. Known as CITES, the treaty was approved by nations in Washington, D.C., on March 3, 1973. The convention regulates the global wildlife trade and is best known for the commercial ivory ban instituted in 1990 in response Read Full Details…

Mar 06

Pepper export value down 7.4% in two months

Vietnam exported over 41,000 tonnes of pepper worth $129 million in the first two months of this year, up 35% in volume, but down 7.4% in value over the same period from 2022The average export price of the Vietnamese spice in February 2023 was $3,059 per tonne, a downturn of 11.1% compared to the previous month and 32.8% year-on-year, according to the Import-Export Department under the Ministry of Industry and Trade. During the reviewed period, its average export price stood Read Full Details…

Mar 06

Nepal enjoys trade surplus with only 33 countries

While Nepal has bilateral trade with 154 countries, it enjoys a trade surplus with only 33 countries. According to the Department of Customs (DoC) statistics, Nepal has a trade surplus with countries including Denmark, United States, Algeria, Cambodia, Norway, Romania, Chad, Uruguay, Afghanistan, and Latvia. However, this does not hold much significance in terms of the monetary value as the trade surplus is pretty low as the country does not have large bilateral trade with these countries except the United Read Full Details…