France
(Source : Embassy of India, Paris)
Significant Trends in trade and investment
Trade – In Jan-Apr 2018, India France bilateral trade stood at € 3.46 billion (-0.15%) as compared to the corresponding period the previous year. India’s exports to France increased by 10.85% during this period with a rise in exports of following top 10 category products: mineral fuels & oils (124.06%); nuclear reactors, boilers, machinery and mechanical appliances (16.19%); footwear (9.69%) & knitted or crocheted articles of apparel & clothing accessories (2.27%). However there was a drop in exports of organic chemicals (-6.34%) automobiles and parts (-25.24%); & electrical machinery (-18.73%) & articles of leather (-12.29%).
Meanwhile, French exports to India decreased by 13.4% during the same period: Exports of following top 10 ranked products increased: nuclear reactors, boilers, machinery & mechanical appliances (1.39%); optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus & parts thereof (38.68%); miscellaneous chemical products (1.38%); pharmaceutical products (4.25%); plastics and articles thereof (9.22%) & articles of iron & steel (41.39%). However, exports of following products decreased: electrical machinery & equipment (-27.92%); aircraft & spacecraft (-32.8%); organic chemicals (-9.55%) & iron & steel (-1.85%).
Investment – According to the ‘Business France Annual Report 2017’, a public operator supporting French investors in India and Indian investors in France, there are over 150 Indian companies operating in France (including sub-subsidiaries), employing around 7,000 people. Nineteen investments from India were recorded in 2017 (+73%), creating or maintaining 284 jobs (+66%). Indian projects often involved decision-making centres (42% of projects), including a global/European headquarters, and production/manufacturing operations (32%). Investments were mainly made in the software and IT services sector (26% of projects and 52% of jobs generated) and chemicals/plastics industry (21% of projects, 23% of jobs), while location-wise, Indian companies invested primarily in the Paris Region (Ile-de-France) (26% of projects), Nouvelle-Aquitaine (16%), Bourgogne-Franche-Comté (16%) and Hauts-de-France (16%).
Kurdistan Region of Iraq
(Source : Consulate General of India, Erbil)
In a meeting between new Consul General of India in Erbil, Mr. Chandramouli K. Kern and the President of Kurdistan Federation of Chamber of Comerce & Industry (KFCCI) Mr. Dara Jail al-Khayat on 15th May, 2018, avenues to strengthen trade relations and building ties between India and Kurdistan Chambers were discussed. Discussions on capacity-building training programmes for Kurdistan enterpreneurs and professionals in India were also held during the meeting. KFCCI President sought participation in Indian companies in possible future joint vendures with Kurdish investors in heal the pharmaceutical sector in the Kurdistan Region.
Peru
(Source : Embassy of India Lima)
FTA with India: SNI asks review negotiation for unfair practice (El Comercio: 27/06/2018) -In response to the US complaint to the World Trade Organization (WTO) for unfair competition from the government of India, the National Society of Industries (SNI) called on the Peruvian government to review the negotiation of the Free Trade Agreement (FTA) with India until the scope of the complaint is clarified. "It is not convenient for Peru`s interests to negotiate FTAs with countries whose trade policies are being questioned at the multilateral level, and as it has been warned on several occasions, harm the national industry and the jobs generated by this activity" said the president of the SNI, Ricardo Márquez. The head of the industrial association suggested that Peru participate in this process in the WTO against India, as an observer, to have information about the programs applied by that country, and its consequences for global trade.
Thailand
(Source : Embassy of India, Bangkok)
SoftBank plans $60-100 bn investment in solar in India
The Nation 16.06.2018
Japan`s SoftBank is planning to invest between $60-100 billion in a solar power project in India, a Japanese report said Friday, as the firm looks to expand its interests into various sectors. The report by public broadcaster NHK comes after SoftBank announced in March it would partner Saudi Arabia on a multi-billion dollar solar project that the company`s founder called the largest in the world. NHK said the massive investment in India would be funded jointly by SoftBank and Saudi Arabia, which have already partnered to create the Vision Fund investment vehicle. A spokesman for SoftBank declined to comment on the report. NHK said the deal would likely be announced by SoftBank and the Indian government after details were finalized, without giving a timeline. Under CEO Masayoshi Son, SoftBank, which started as a software firm, has increasingly been seen as an investment firm, ploughing funds into a broad range of companies and projects outside its core business. In recent years it has completed deals with the likes of French robotics firm Aldebaran and e-commerce Chinese giant Alibaba.
India Joins China, Europe in Hitting Back at Trump on Trade
Bangkok Post 22.06.2018
India raised tariffs on a slew of items in retaliation to U.S. imposing higher levies on some products shipped from the South Asian nation, a move that echoes steps taken by China and the European Union. The import duty on chickpeas and Bengal gram, or chana, has been to 70 percent and will be effective from Aug. 4, the ministry of finance said in a notification dated June 20. The tariffs have also been raised on other items including walnuts, almonds, boric acid, apples, diagnostic reagents and some hot-rolled coil products. Prime Minister Narendra Modi’s administration’s tit-for-tat move comes amid a trade war between the U.S. and its key trading partners. President Donald Trump on Monday ordered identification of $200 billion in Chinese imports for additional tariffs of 10 percent -- with another $200 billion after that if Beijing retaliates. He’s already promised to place tariffs of 25 percent on $50 billion, starting July 6 with an initial $34 billion worth of imports. China on Thursday said it is “fully prepared” to respond to any new list of U.S. tariffs.