Ethiopia
(Source : Embassy of India, Addis Ababa)
Total trade in goods
According to the Department of Commerce, Government of India trade data, India’s total trade with Ethiopia stood at US$ 207.91 million during April to July 2020, out of which India’s exports to Ethiopia were US$ 196.45 million and imports were US$ 11.46 million. Among India’s top exports to Ethiopia consisted mainly of primary and semi-finished iron and steel products, drugs and pharmaceuticals, machinery and instruments, manufactures of metal, etc. Major imports by India from Ethiopia were: semi-precious stones, pulses, leather, oil seeds and vegetables & seeds.
Details of Significant trends
The major destinations for Ethiopian exports were Asia, Europe and Africa. Asia accounted for 38.9 percent of the total exports with Saudi Arabia being the main destination for Ethiopia’s exports having a 18.8 percent share, followed by United Arab Emirates (16.1 percent), Israel (12.3 percent), Japan (8.6 percent), China (7.9 percent), Singapore (5.6 percent), South Korea (5.4 percent), India (3.8 percent), Indonesia (2.5 percent) and Yemen (2.3 percent).
During the third quarter of 2019/20, Asia accounted for 56.6 percent of the total imports of Ethiopia with the major imports coming from China (43.6 percent), India (14.0 percent), U.A.E (9.4 percent), Kuwait (6.9 percent), Saudi Arabia (5.9 percent), Singapore (5.5 percent), and Indonesia (3.9 percent).
Analysis - The data shown is taken from the National Bank of Ethiopia 2019-20 Third Quarter (January- March 2020) Report which does not reflect data for September 2020. However, India remained its third most important source of imports for Ethiopia, contributing 8% of all of Ethiopia’s imports next to China, Kuwait and USA. Indian contributed 1.6% of Ethiopia’s export to the world.
Saudi Arabia
(Source : Embassy of India, Riyadh)
Potential products of imports from India (August 2020)
Commodity - Vehicles with spark-ignition internal combustion reciprocating piston engine of cylindr capacity>1000cc bt nt>1500cc (HS Code: 870322 ).
Rationale - Value of Saudi import of the item from India during April to August 2020 marked US$ 74.50 Million showing a decline by-61.13 % as compared to the same period last year.
Significant trends in trade and investment (Sources: DGFT)
Trade in Goods - India Saudi bilateral Trade during FY 2019-20 has marked US$ 33,094.22 million from US$ 34,040.90 million in FY 2018-19.
Analysis - The bilateral trade during FY 2018-19 was 34,040.90 Million. There is slight decline of -2.78 Percent in bilateral trade during 2019-20 (showing a decrease of -5.69% percent in our import, mainly due to the decline in petroleum oil prices. However, there is a significant growth (12.14%) in our export to Saudi Arabia during FY 2019-20.
Investment - Indian FDI in Saudi Arabia is US$ 1.4 billion up to Dec. 2017 (Source Saudi Arabian General Investment Authority). Saudi FDI in India US$ 318.83 million from April 2000 to June 2020 (Source: DIPP).
Analysis - During the high level visit of HRH Crown Prince to India in February 2019 he declared that the Kingdom is looking to invest US $100 billion in India in the coming years in diversified sectors. The Invest India team visited KSA twice in April & July 2019 to interact with the Saudi govt entities and business firms, presenting the investment opportunities available in India. Saudi Aramco is in talks with Reliance to take 20% stake of worth US $15 billion at a cumulative value of US $75 billion.
Saudi Arabia is in the phase of fast economic and social transitional reforms/development under the ambitious ‘Saudi Vision 2030’ initiative. A number of multi-billion mega projects like US$500 billion estimated Neom project and other mega multi-billion projects like Red sea project, Al Qiddya projects, Amala tourism project etc. are under progress. There are a number of opportunities for the Indian infrastructural, engineering, IT, service companies etc. to participate in these projects.
Launching of Saudi Indian Business Network (SIBN)
To further enhance and promote the India- Saudi bilateral trade in different sectors and encourage two-way investments, the Mission launched ‘Saudi Indian Business Network’ (SIBN) with Chapters based in Riyadh, Dammam and Jeddah having a National Executive Committee and Chapter-wise Committees. The organization was virtually inaugurated by the Ambassador on September 12, 2020. The event witnessed participation, of around 200, prominent Saudi and Indian businessmen, institutions, CEO’s and representatives of Chambers, Commodity Boards etc.
Webinar on ‘Impact of Covid-19 on the Bilateral Economic Relations and the way forward’
The Embassy organized a business seminar on ‘Impact of Covid-19 on the Bilateral Economic Relations and the way forward’ on September 9, 2020. Around 150 prominent Indian, Saudi businessmen, officials from Saudi government institutions and commercial entities, officials from Indian chambers and industries participated in the Webinar.
Thailand
(Source : Embassy of India, Bangkok)
Seminar on “Business Opportunities in India and Incredible India”
21.09.2020
Mission organised a seminar on “Business Opportunities in India and Incredible India” in Chiangmai, Thailand on 21 September 2020. Deputy Chief of Mission highlighted the new policy initiatives of Government of India such as AtmaNirbhar Bharat, Taxation reform, Agriculture, new Education Policy as well as business opportunities (including trade, investment and tourism) available in India. Two power point presentations were made on “Opportunities in India” and “Incredible India”. About 65 participants from various businesses, industries and tourism sectors attended the seminar including high level dignitaries and senior officials of local government and Industry/Chamber.
Vice Governor of Chiangmai, Honorary Chairman of Federation of Thai Industries of Chiang Mai Chapter, Chairman of Chiang Mai Chamber of Commerce, Chairman of Chiang Mai Tourism Council of Thailand and Secretariat General of Chiang Mai Tourism Business Association also addressed the seminar.
RCEP for recovering economy after COVID19
Matichon 28 Sep 2020
The Deputy Spokesperson of the Prime Minister Office revealed that the government will drive the signing of RCEP, the biggest free trade agreement in the world with 16 member states, in November. RCEP will help improve the post-COVID economic recovery. Thailand will also focus on reviving Thai-EU trade negotiation.
Hospitals in New Delhi with Mitra robot
Matichon 23.09.2020
A hospital in India has deployed a customer-service robot to patrol its wards, connecting coronavirus patients to friends and relatives. Mitra, meaning “friend” in Hindi, is best known for interacting with Prime Minister Narendra Modi at an event in 2017. Its piercing eyes are equipped with facial recognition technology to help it recall people it has previously interacted with. A tablet attached to Mitra’s chest allows patients to see loved ones, as well as medical staff unable to access the wards.
EU FTA study on the cards
Bangkok Post23 Sep 2020
The Trade Negotiations Department is scheduled to propose a study of the long-awaited free trade agreement (FTA) with the EU and present the outcome of public hearings on the pact`s impact to the commerce minister by the middle of next month. Director-general Auramon Supthaweethum said the department gathered comments, concerns and remedy proposals from the private sector, civil society and farmers at a forum on the planned Thai-EU FTA held yesterday. "The outcome of all 12 public hearings held last year and comments on the latest forum as well as the final study will be proposed to the commerce minister by the middle of October," she said.
India opens dumping probe on Thai copper tube, pipe exports
Bangkok Post 27 Sep 2020
India is investigating imports of copper tubes and pipes from Thailand, Malaysia and Vietnam to determine whether producers in these countries were receiving unfair subsidies, the government said. The investigation by India`s Directorate General of Trade Remedies, the investigative arm of the commerce ministry, could result in these imports facing countervailing duties, said a government circular posted on Friday. The probe covers imports shipped between April 1, 2019 and March 31, 2020. "The Authority has also received the import data of customs of the subject goods during the past four years which indicate increased imports mainly from Malaysia, Thailand and Vietnam collectively account for more than 90% of total imports of subject goods," the circular said.
Venezuela
(Source : Embassy of India, Caracas)
Reliance Industries sends diesel to Venezuela: According to media reports, the Lucky Sailor tanker carrying diesel had reached Puerto La Cruz on 26 September 2020 from Sikka, India. Reports also indicate that the Eurodestiny tanker departed from the Jose Antonio Anzoátegui Petrochemical Complex carrying 2 million barrels of crude oil for Reliance Industries on 28 September 2020.
Reliance Industries to halt shipment of diesel to Venezuela in November: According to media reports, Reliance Industries would be halting diesel swaps with PDVSA in November, which would imply that once the last shipment of Venezuelan crude is received by India, Reliance would stop sending diesel. In July 2020, the US Government issued a license that allowed Reliance to swap diesel for Venezuelan crude until November 2020. However, reports indicate that the move may not be definitive, as the Indian company plans to reconsider trade with Venezuela after the results of the upcoming US elections.
Description – Pharmaceutical products
Analysis - Venezuelan pharmaceutical industry is severely affected by the lack of private investment and relies heavily on the imports for drugs and harmaceuticals. 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.
Description - Auto-parts
Analysis - India is one of the top manufacturers of auto-parts in the world. Venezuela is in dire need of auto-parts for all kinds of vehicles.
Description - Oil and gas machinery and spare parts
Analysis - Venezuela needs oil and gas industry machinery and spare parts to reactivate their oil industry. The Venezuelan oil industry uses machinery and parts which are US standards compliant, and India manufactures such items compliant with US standards at lower rates.
Description - Electric Steel
Analysis - Venezuelan power generation industry requires an approximate of 5,326 metric tons of two grades of electric steel to be used in the recovery of 20,000 transformers in 2020.
Venezuela`s oil exports rise in August due to sales to India: Venezuela’s oil exports recovered slightly in August after two months of historic lows, boosted by increased sales to India. Overall exports of crude and fuel rose to 437,600 barrels per day (bpd) in August, according to the data, more than the approximate 400,000 bpd in June and July, which were the lowest levels since the 1940s for Venezuela. In July, Reliance Industries resumed loading Venezuelan crude under a swap deal permitted by the US Treasury Department after a three-month pause. The authorization allowed Reliance to re-emerge as the largest buyer of Venezuelan crude by taking 216,000 barrels per day (bpd) last month, almost half of total exports, according to the data. The second-largest destination for Venezuela’s oil in August was Cuba with almost 66,000 bpd of crude and refined products, followed by Europe with 65,000 bpd. The South American nation, which boasts of some of the largest crude reserves on the planet, shipped a total of 17 cargoes last month, the data showed.
Oil tanker reaches Venezuela from India and docks at El Palito Refinery: As per media reports, on 16 September, a Malteseflagged ship reached El Palito Refinery according to tracking data and satellite images. The Agioi Fanendes ship reached about 2:00 am and docked at the El Palito Refinery. This ship departed from the Sikka port in India on 16 August 2020 and according to its travel log, it showed El Palito as the last destination of the journey. The public domain information on marinetraffic.com highlights that the Agioi Fanendes is an oil tanker built in 2019 and sails under the flag of Malta. Its cargo capacity is 50,000 tons and total length is 183 meters with width 32 meters. No official information was issued on the matter. However, this type of oil tankers may carry fuel as other chemical petroleum byproducts. In any case, Venezuela requires both types of cargoes. Union leader Ivan Freites claims that the ship that has come from India may bring gasoline or diesel, although he sees more likely that it would be the second option, as he is of the view that India is not going to risk to transport gasoline under the sanctions imposed against Venezuela.
Merchandises arrived in support to the productive apparatus: A total of 30 tons of merchandises arrived in the country on 04 September 2020, from India and the Islamic Republic of Iran to strengthen the national productive apparatus. The shipment arrived at the International Airport of Maiquetia, as informed by the Venezuelan Consortium of Aeronautical Industries and Air Services (CONVIASA). The airline indicated that the products belonged to the clients of the airline, both from the private and public sector. Till date, Conviasa is having two monthly cargo flights to Turkey, Russia, China and India. No details were given on the types of commodities received.