Ethiopia
(Source : Embassy of India, Addis Ababa)
Ease of Doing Business: Ethiopia is ranked 159 among 190 economies globally and 31st in Africa in the Ease of Doing Business, according to the latest World Bank annual ratings. The report, among other things, evaluates and measures economies in terms of starting business, availability of credit and electricity, paying taxes, cross-border trading and protecting minority investors. At the regional level, Rwanda comes at the top of the Ease of Doing Business ranking, attaining 29th place at a global rank. In addition, Kenya stands at the 61 place. Rwanda not only led sub-Saharan Africa but also managed to come ahead of countries like China, Brazil and South Africa. The rank of Ethiopia improved to 159 in 2018 from 161 in 2017. Ease of Doing Business in Ethiopia averaged 133.45 from 2008 until 2018, reaching an all-time high of 161 in 2017 and a record low of 104 in 2010.
Ease of Doing Business-Djibouti: Djibouti saw a rise of 55 ranks in the World Bank World Bank’s Ease of Doing Business global rankings. This was announced in the World Bank Group’s Doing Business 2019: Training for Reform, released on 31 October 2018. This year, Djibouti cleared the top 100 economies, sitting at 99th globally. Last year, the report ranked Djibouti at 154. The country is among the 10 economies that improved the most across three or more areas measured by Doing Business. Over the past year, the country saw six reforms in the areas measured by the report – Starting a Business, Registering Property, Protecting Minority investors, Getting Credit, Enforcing Contracts and Resolving Insolvency.
Switzerland
(Source : Embassy of India, Berne)
India and Switzerland Trade Relations
India – Switzerland Trade Figures: During the period from Jan – Sep 2018, Switzerland’s imports from India stood at USD 1,440 million (with Precious Metals), exports to India stood at USD 13,795 million (with Precious Metals) and the total trade with India was USD 15,235 million (with Precious Metals). Total India – Switzerland trade as percentage of Switzerland’s total trade in Jan – Sep 2018 was 3.41% as compared to 3.68% in Jan – Sep 2017.
Thailand
(Source : Embassy of India, Bangkok)
Vietnam, India eye textile cooperation
The Nation 25.11.2018
The two powerhouses in textile and clothing exporting are seeking closer cooperation in the field. Trade between India and Vietnam in textiles has grown significantly, but there is still huge untapped potential, the Indian consul general in the city has said. India is one of the suppliers of high-quality materials, fabric and machinery at competitive prices globally, he said. Nguyen Hong Giang of the Vietnam Cotton and Spinning Association (VCOSA) said there was plenty of opportunity for cooperation in yarn, cotton and fabrics between businesses in the two countries. “Indian companies are strong in making cotton fabrics and textiles. From the perspective of the Vietnam Cotton and Spinning Association, we welcome investment from India in fabric making.” When investing in Vietnam, Indian firms would get tax breaks from FTAs that Vietnam has signed or would be signing, he said.
Tips to enter India market
Thai Post 27.11.2018
Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), revealed that EXIM Thailand is currently formulating country strategic plans focusing on new frontier markets with high potential, one of which is India. EXIM Thailand`s management and officers recently paid visits to Thai and Indian public and private entities and Japan External Trade Organization in Mumbai (JETRO Mumbai) in New Delhi and Mumbai. The visits are aimed at exchanging and compiling information for the preparation of the Bank`s "India Strategy" and discuss ways to promote Thai-Indian trade and investment, especially in collaboration with relevant financial institutions.
Royal Enfield subsidiary due in March
Bangkok Post 27.11.2018
Royal Enfield, the manufacturer of classic motorcycles, expects to establish a subsidiary in Thailand by March 2019. Following the US and Brazil, Thailand is the third country where Royal Enfield has chosen to build a local subsidiary. Vimal Sumbly, head of business markets in Asia-Pacific, said the expansion has progressed as Royal Enfield planned.Vimal Sumbly, head of business markets in Asia-Pacific, said the expansion has progressed as Royal Enfield planned. Citing the latest figures from the Land Transport Department, Thailand`s motorcycle registration stood at 1.506 million units over the first 10 months, a 1.36% drop from the same period last year. But Mr Sumbly said the local mid-sized segment of 250-750cc is expected to grow by 8% to 51,000 motorcycles this year, towards which Royal Enfield is marketing globally.
Indian firm presses ahead with controversial Australia coal mine
The Nation 30.11.2018
Indian mining firm Adani vowed Thursday to press ahead with the construction of a controversial coal mine in northeastern Australia, although the project will be dramatically scaled back. Work on the Carmichael mine -- which has attracted considerable controversy in Australia -- could now get underway within weeks. Adani said it would fund the multi-billion-dollar project itself, after almost a decade of financial and regulatory jousting. "We will now begin developing a smaller open cut mine comparable to many other Queensland coal mines" said Adani Mining CEO Lucas Dow. The plan is to produce around 28 million tonnes of coal per year. That is half the amount originally projected, but still roughly equivalent to the total annual coal exports of Mongolia or Kazakhstan.
Venezuela
(Source : Embassy of India, Caracas)
Potential products of exports for India
Description : Pharmaceutical products
Rationale : Venezuelan pharmaceutical industry is severely affected by the lack of private investment and relies heavily on the imports for drugs and pharmaceuticals. India is one of the leading manufacturers and exporters of pharmaceuticals in the world and enjoys acceptance in the Venezuelan market due to its quality and competitive prices.
India – Venezuela relations:
India eyes rupee-route, barter for Venezuelan crude: According to media reports, India is considering setting up a rupee-payment mechanism for trade with Venezuela, besides exporting rice and drugs to the South American nation, all in return for crude oil. As per the report, the Ministries of Commerce, Finance and Petroleum are looking into the proposal. The news article adds that Venezuela is among the top 10 crude oil suppliers to India. The report indicates that since the size of the business would run into several millions, it needs to have a proper trade balance and that the rupee-payment mechanism is not a new concept, but there is a general agreement that the strategy for Venezuela cannot be similar to that for sanctions-hit Iran. The article further indicates that this mechanism is also being considered to benefit Indian exporters, particularly pharmaceutical products and non-basmati rice. “Rice is well-consumed in Venezuela and we see a huge potential, provided a proper payment mechanism is established,” said Mr. BV Krishna Rao, President of the Rice Exporters Association. He also said that so far, the efforts of exporters to tap the Venezuelan market through the Dubai route have not been successful due to payment issues. Mr Rao estimates that India could export up to half-a-million tonnes to Venezuela on a regular basis, if a rupee-based payment mechanism is set up.
India Mulling Dumping Dollar in Oil Trade with Russia, Iran and Venezuela: According to media reports, India`s Central Bank and Ministry of Finance have been tasked with exploring the feasibility of rupee and barter-based trade agreements with crude oil producing nations such as Russia, Iran and Venezuela. The report indicates that a potential scheme is of trading Indian pharmaceuticals for Venezuelan oil. The media outlet further mentions that in its meeting on 04 October 2018, the Indian inter-ministerial panel headed by Commerce and Industry Minister Suresh Prabhu also asked the Central Bank to explore the possibility of rupee-yuan trade with China, trade deals using the euro instead of the dollar, and the promotion of gold-related initiatives, such as gold-denominated savings accounts and sovereign bonds, and measures to cut gold imports. The panel also proposed the need for barter and deferred payment arrangements with Russia in the trade of raw diamonds. The meeting came amid a sharp slide in the value of the rupee against the dollar this week, with the Indian currency settling at a record low of 73.81 rupees against the dollar on 04 October.