Canada
(Source : High Commission of India, Ottawa)
Products with Export Potential for India
Description : Electrical or Electronic Machinery and Equipment
Rationale - The total market size of electrical machinery in India is anticipated to reach US$ 100 billion by 2022 from US$ 24 billion in 2013. The electrical machinery sector consists of generation, transmission and distribution machinery. In order to become a global force, Indian machinery sector needs to understand these changes and evolve to serve the user industries with the next generation products through integration of equipment with information technology like autonomous haulage or unmanned vehicles equipped with GPS, CCTV cameras, inertial guidance systems, and leverage dispatch route planning and guidance software for functioning.
Description : Optical, Medical, Photographic, Scientific and, Technical Instrumentation
Rationale - One of the potential items of India’s exports to Canada must include Optical, Medical, Photographic, Scientific and Technical Instrumentation. US, china and Mexico are the top markets for the import of this HS 2 category. India is not in the top ten. India’s has competitive disadvantages in the Optical, Medical, Photographic, Scientific and Technical Instrumentation market, but it also represents key opportunities for India to improve its position in the global economy through focused innovations.
Description : Furniture and Stuffed Furnishings, Lamps and illuminated Signs, Prefabricated Buildings
Rationale - Analysts forecast the global furniture market to grow at a CAGR of 4.27% during the period 2017-2021. China and U.S have been the top exporters of Furniture. Consumers globally are spending more on home decor and furniture. This drives the global furniture market. A large part of this growth is expected to come from the rapidly growing consumer markets of Asia, implying significant potential for growth in the Indian furniture sector.
Details of significant trends - Canada’s total trade with India increased by 7.08 % viz-a-viz Jan-Oct 2018 due to a significant increase of USD 298 million in Canadian exports and a reasonable gain of USD 132 million in imports as well.
Analysis - The total trade with India from Jan-Oct 2018 was USD 6.06 billion. However, for Jan-Oct 2019, Canada’s total trade with India is USD 6.49 billion. In Oct 2019, Canadian exports to India have reduced substantially while imports are higher in comparison to Oct 2018.
Globally, Canada`s exports rose 0.8% in October 2019, while imports increased 0.5% mainly on higher imports of energy products. As a result, Canada`s merchandise trade deficit with the world narrowed slightly from $1.2 billion in September to $1.1 billion in October 2019.
Details of significant trends - India is the 12th largest market for Canadian Imports year to date. For Jan - Oct 2019, Canada’s total imports from India increased by 4% in comparison to Jan - Oct 2018. Imports from India saw an increase in Oct 2019 in comparison to Oct 2018 by 11.3%.
Analysis - The total import figure of Jan-Oct 2019 is USD 3.42 billion. However, for Jan-Oct 2018, the figure was USD 3.29 billion.
The top products (chapters) of import from India are Articles of Iron or Steel, Nuclear Reactors, Boilers, Machinery and Mechanical Appliances, Pharmaceutical Products, Organic Chemicals, Pearls, Precious Stones or Metals, Motor Vehicles, Trailers, Bicycles, Motorcycles and Other Similar Vehicles, Woven Clothing and Articles of Apparel, Knitted or Crocheted Clothing, Other Made-Up Textile Articles and Worn Clothing, Electrical or Electronic Machinery and Equipment.
Details of significant trends – Canada’s total global imports rose 0.5% to $51.0 billion in October 2019. Total imports were up 1.5% in the first 10 months of the year compared with the same period in 2018. In real (or volume) terms, imports increased 0.8% in October 2019.
Analysis - Imports of energy products were up 8.9% in October 2019, mainly on higher imports of crude oil and crude bitumen (+8.5%), which increased largely due to higher prices. This was the eighth monthly increase for imports of crude oil in 2019. Imports of natural gas (+46.2%) and refined petroleum products (+6.8%) also contributed to the increase in energy product imports in October 2019.
Imports of motor vehicles and parts fell 3.3% in October 2019 to $9.3 billion. This was the fifth consecutive monthly decrease for this product section and the lowest level observed in 2019. Imports of passenger cars and light trucks (-4.7%) were responsible for most of the decline, with labor disruptions affecting a number of North American auto assembly plants in September and October 2019. Exports of motor vehicle engines and parts (-12.9%) were also impacted by these events in October 2019.
Details of significant trends - India is the 9th largest market for Canadian exports year to date. For Jan- Oct 2019, Canada’s total exports to India increased by 10.8% in comparison to Jan-Oct 2018. The total exports saw a remarkable decrease of 40.2% in Oct 2019 viz-a-viz 2018.
Analysis - The total export figure of Jan-Oct 2019 is USD 3.07 billion. However, for Jan-Oct 2018, the figure was USD 2.77 billion.
The top products of export from Canada to India were: Mineral Fuels, Mineral Oils, Bituminous Substances and Mineral Waxes, Pearls, Precious Stones or Metals, Coins and Jewellery, Edible Vegetables and Certain Roots and Tubers, Fertilizers, Ores, Slag and Ash, Pulp of Wood and The Like; Waste and Scrap of Paper or Paperboard, Aircrafts and Spacecrafts, Ores, Slag and Ash, Edible Vegetables and Certain Roots and Tubers, Pulp of Wood and The Like; Waste and Scrap of Paper or Paperboard, Aircrafts and Spacecrafts, Paper, Paperboard and Articles Made From These Materials, Nuclear Reactors, Boilers, Machinery and Mechanical Appliances and Iron and Steel.
Details of significant trends - Following a 1.7% decrease in September 2019, Canada’s total global exports were up 0.8% in October 2019. Non-energy exports edged up 0.2%. Compared with the same period in 2018, total global exports were up 1.6% in the first 10 months of 2019. In real (or volume) terms, exports increased 0.7% in October 2019.
Analysis - Exports of consumer goods rose 5.5% in October 2019, mainly on higher exports of miscellaneous goods and supplies. This category, which includes a wide variety of products, posted a significant increase of $532 million in October 2019 as a result of higher exports of artwork such as paintings and sculptures.
Exports of energy products (+3.4%) also rose in October 2019, mostly on higher exports of crude oil (+2.7%) and refined petroleum products (+15.2%). After falling in September 2019 on lower volumes, crude oil exports rebounded in October 2019 as the effect of higher prices more than compensated for a decrease in volumes. Exports of refined petroleum products were up in October 2019 mainly on higher exports of fuel oils and diesel to the United States. Exports of metal and non-metallic mineral products increased 5.7%, as a result of higher exports of gold.
Exports of gold increased 16.8% in October 2019, owing to higher exports of refined gold to the United States. Partially offsetting the overall gain, exports of farm and fishing products (-12.6%) posted the largest decline in October 2019, mostly on lower shipments of other crop products (mainly soybeans) to China.
Indian drug firm Lupin gets Canadian market access
Indian drug firm Lupin said it has received approval from the Canadian health regulator for its Propranolol Hydrochloride extended-release capsules used for treatment of hypertension and decrease frequency of angina. The company has received approval for its Propranolol Hydrochloride extended-release (ER) capsules in the strengths of 60 mg, 80 mg, 120 mg and 160 mg from Health Canada, Lupin said in a statement. Lupin is the first generic company to receive an approval for generic Inderal-LA capsules for the Canadian market and the product will be manufactured at the company`s Pithampur unit-2 facility in India. The company`s product is the generic version of Pfizer Canada ULC`s Inderal-LA capsules in the same strengths, Lupin added. As per IQVIA MAT December 2018 data, Propranolol Hydrochloride ER capsules had an annual sales of approximately USD 6.5 million in the Canadian market.
Source : India Canada Biz Digest
Canada’s CPPIB, others discuss business opportunities in MMRDA infrastructure projects in India
Town planning authority MMRDA (Mumbai Metropolitan Region Development Authority), India, which is developing infrastructure projects worth millions of dollars across the metropolitan region has invited both domestic and foreign investors to invest. MMRDA met representatives of 16 global and domestic financial institutions including Goldman Sachs, Reliance, Tata AIA Life, among others. The other major investors who were present at the meeting were CPP Investment Board, Enama Holdings, Nippon Life Asset Management, IDBI Federal Life Insurance, Quantum Advisors, Aviva Life Insurance Co, HDFC Asset Management and others. So far, MMRDA projects have been funded by federal agencies like World Bank, Asian Development Bank and Japan International Cooperation Agency.
Source : India Canada Biz Digest
Canada’s CDPQ likely to buy roads from GIP in India
Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) is likely to buy road platform Highway Concessions One Pvt. Ltd for USD 335.5 million, according to sources. US-based GIP (Global Infrastructure Partners) had last year bought the entire infrastructure portfolio of homegrown private equity firm IDFC Alternatives, it put the road platform on the block late last year. Highway Concessions holds seven road projects covering 472 kilometres and having consolidated revenues of USD 86.9 million a year. The five toll roads and two annuity projects are: Ulundurpet Expressways in Tamil Nadu, Nirmal BOT in Telangana, Dewas Bhopal Corridor in Madhya Pradesh, Bangalore Elevated Tollway in Karnataka, Godhra Expressways in Gujarat, Jodhpur Pali Expressway in Rajasthan and Shillong Expressway in Meghalaya.
Source : India Canada Biz Digest
Canada’s CDPQ to pump in USD 270 million more in Piramal Enterprises in India
Caisse de depot et placement du Quebec (CDPQ), one of Canada’s biggest public pension funds, will spend USD 250 million to increase its stake in Piramal Enterprises Ltd via a preferential allotment of compulsory convertible debentures (CCDs) and is likely to bring in another USD 19 million by participating in a proposed rights issue. The infusion will be a part of a larger fundraising worth USD 770 million that will include the rights issue. These funds will help the diversified firm to tap organic and inorganic opportunities arising out of market consolidation across the company’s financial services, pharmaceuticals and information management businesses. CDPQ has a long-standing partnership with Piramal Enterprises and holds 3.68 per cent stake as of October 2019.
Source : India Canada Biz Digest
Egypt
(Source : Embassy of India, Cairo)
Potential products of Imports from India
Commodity - Automobile and auto components (8708 )
Rationale - Egypt is strategically located close to many developing countries with open markets for car imports. The Egyptian automotive Market Volume in 2018 reached 19,804 vehicles (15088 are passenger cars, 1586 buses and 3130 trucks) compared to 14,673 vehicles in 2017 (with increase of 35.6 %)
All auto majors like GM, Toyota, BMW, and Hyundai have presence in Egypt. Our exports of automobiles during 2018-19 were USD 136.2 million and auto components were USD 77.5 million in the same period (Total 213.4 Million USD).
Following the implementation of zero tariffs for automobile imports from EU to Egypt early this year, as per provisions of Egyptian – European Partnership Agreement, there were some concerns among local auto component manufacturers on likely adverse impact on them. However, the Egyptian Government has recently come up with customs incentive scheme to protect local manufacturing while at the same time keeping the doors open for imports.
Bajaj has a partnership with Ghabbour of Egypt for CKD assembly of two and three wheelers for Egyptian markets. TVS and Mahindra also have presence in the market.
Commodity - Project exports in railways, construction, renewable energy, infrastructure etc.(Railway Items: 86) (Electrical Machinery:85).
Rationale - Egypt has announced various mega projects which have created opportunities for the project exports by the Indian companies. Some of the major projects are: Suez Canal Economic Zone, High Speed Trains and new Metro lines, Housing units’ project, 1.5 million feddan (acre) land reclamation project, Renewable Energy projects and new Administrative Capital.
Trade in Goods (Source: DGCIS, India)
Significant trends
Indian Import of September 2018: 141.82 (US$ million)
Indian Import of September 2019: 133.77(US$ million)
Indian Export in September 2018: 211.76 (US$ million)
Indian Export in September 2019: 197.03 (US$ million)
Total trade comparison :
September 2018 : 353.5 (US$ million)
September 2019 : 330.73 $ (US$ million)
Analysis - Total trade between India and egypt during September 2019 decreased with 6.4 % compared to same period of 2018.
Indian exports to Egypt decreased with 6.9 % and the Indian imports decreased with 5.7 % compared to same period of 2018.
Trade in Services (Source: CAPMAS, Egypt)
The Embassy during October 2019 received 1 enquiry on services from CIAF Egypt(Tourism Agency) requesting for list of Indian companies related to Tourism and the information was provided to the Egyptian company. Trade figures of some of the service sectors are given below:
Pharma Items ( HS Code : 30)
India export in August 2018 : 0.83 (US$ million)
India export in August 2019 :1.04 (US$ million)
Electrical machinery and equipment and parts including
Information technology software. (HS Code : 85)
India export in August 2018 : 17.5 (US$ million)
India export in August 2019 : 29.83 (US$ million)
Books newspapers, pictures including educational services (HS Code : 49)
India export in August 2018 : 96,659 (US$ )
India export in August 2019 : 140,403 (US$ )
Analysis - During August 2019, the Indian export of pharma services and items to Egypt increased by 25.3 % recording $ 1.04 Million compared to August 2018.
Indian export of IT Services and staff increased by 70.4 % recording $ 29.83 million compared to August 2018.
Indian export of Educational Services increased by 45.3 % recording $ 140.4 thousand compared to August 2018.
Trade Exchange between Egypt and India hit $4.5 billion by the end of 2018, according to Minister of Trade and Industry Amr Nassar.
Nassar added that India`s investments in the Egyptian market amounted to $3.3 billion through 50 projects operating in the fields of manufacturing, construction, agriculture, garments, auto parts, chemicals, food industries, services, pharmaceuticals, plastics, energy and renewable energy.
This came during a meeting held by Nassar, with Rahul Kulshreshth, the Indian ambassador in Cairo.
Nassar pointed out the importance of boosting trade exchange rates between the two countries to upgrade the distinguished political relations that have bound Egypt and India for decades.
(Source: Egypt Today Newspaper)
Greece
(Source : Embassy of India, Athens)
Market access:
Greece is part of the European Union (EU) and commercial policy is regulated by the European Commission. EU trade system, exporting and importing are covered by EC Regulations: https://ec.europa.eu/taxation_customs/business_en
Greece is part of the European Union (EU) and commercial policy is regulated by the European Commission. EU trade system, exporting and importing are covered by EC Regulations:https://ec.europa.eu/trade/policy/countries-and-regions/countries/india/
A new EU Strategy for India adopted on 20 November, 2018: https://europa.eu/rapid/pressrelease_IP-18-6481_en.htm
EU trade defence measures on imports from India: https://trade.ec.europa.eu/tdi/
Mozambique
(Source : High Commission of India, Maputo)
India was Mozambique’s main export destination in 2018 – INE: According to the National Statistics Institute (INE), India was Mozambique’s main export destination in 2018 with exports worth US$ 1.369 billion, with market share 27.31%. The remaining four major overseas markets for Mozambican products were, by order of importance, the Netherlands, with a market share of 17.38% and a value of US$871 million, South Africa with 12.24% (US$613 million), China with 4.78% (US$239 million) and Hong Kong with 4.59% (US$229 million), Macauhub declares. As regards imports, South Africa was the largest source, with a share of 27.79% and a monetary value of US$1929 million, followed by China with 11.51% (US$799 million), the United Arab Emirates with 7.47% (US$518 million), the Netherlands with 7.46% (US$518 million) and India with 7.06% (US$490 million). Globally, Mozambique has two major trading partners: South Africa, with total trade worth US$ 2.543 billion, and India, with US$1.859 billion. Mozambique, whose main export products are coal to India, aluminium to the Netherlands and electricity and gas to South Africa, recorded a trade deficit of US$1.931 billion in the year under review, the result of total exports amounting to US$ 5.012 billion and total imports worth US$ 6.944 billion.
Thailand
(Source : Embassy of India, Bangkok)
China India trade study
Thai Post 13.12.2019
The director-general of the Department of International Trade Promotion reveals that the department has assigned the International Trade Office to study the market from each county for trade negotiations to avoid the trade war issue. The department will gather the information within 17th December 2019 before purposing it to the director-general of the Department of International Trade Negotiation for trade negotiation with China and India.
RCEP woos India to join
Thansettakit 09.12.2019
Japan is not considering signing a regional trade pact without India at this juncture, ahead of a series of diplomatic exchanges in the coming weeks. India announced this month that it was withdrawing from the Regional Comprehensive Economic Partnership (RCEP), citing the deal`s potential impact on the livelihoods of its most vulnerable citizens.
Venezuela
(Source : Embassy of India, Caracas)
India`s Nayara supplying fuel to Rosneft in exchange for Venezuelan oil: According to media reports, India`s Nayara Energy has been using Rosneft as an intermediary to acquire Venezuelan oil, paying it in fuel rather than cash to avoid violating U.S. sanctions. Reports indicated that in exchange for the Venezuelan oil, Nayara, part-owned by a Rosneft-led consortium, is shipping cargoes of gasoline and gasoil to the Russian firm. Reports also indicate that strategies for dealing with the sanctions remain diverse. Indian Reliance Industries is also scheduled to resume direct loading of Venezuelan oil next week after a four-month pause.