Australia
(Source : Consulate General of India, Sydney)
During Jan-Nov 2019, Australia exported merchandise goods to India worth USD 8.87 billion, while importing goods worth USD 2.95 billion from India. The total merchandise trade between India and Australia decreased from USD 14.9 billion to USD 11.8 billion between Jan-Nov 2018 and Jan-Nov 2019, with a decrease of 20.8 percent. Indian merchandise exports to Australia for the period witnessed a decrease of 21 percent compared to the same period in 2018. During Jan-Nov 2019 Australia’s export to India declined by 20 percent.
During the reporting period, the top 10 commodities of export from India to Australia included Medicaments, Refined petroleum oils, Railway vehicles, Pearls & precious stones, Jewellery, made up articles of textile materials, Women or girls clothing, Articles of apparels & textile fabrics, Manufactures of base metal and Floor coverings.
Medicaments and Refined petroleum oils were the top two Indian exports to Australia with Made in India railway vehicles featuring as 3rd largest export item from India to Australia during Jan-Nov 2019. More than US$ 218 million worth of Indian made railway vehicles were exported. It may be mentioned that New South Wales Government ordered 22 driverless metro trains of 6 coaches each built by Alstom in Sri City, India. The metro coaches, built for the Australian government, was the first of its kind India has ever exported. The new train is capable of being operated automatically through the Automatic Train Protection and Automatic Train Operation (ATP/ATO) modes with the help of Alstom’s Urbalis 400 communications-based train control (CBTC) signalling solution.
Export of ‘Coal’ from Australia to India was the main contributor for the volume of bilateral trade between the countries during the reporting period, with a value of USD 6.69 billion, amounting to 75 % of Australia’s total exports to India.
Potential products of imports from India
Passenger motor vehicles and automotive parts - With major automakers (Toyota, Ford and Holden) have taken their manufacturing outside of Australia in 2017, the Australian market presents a positive picture for Indian auto and auto component manufacturers. While the end of local vehicle manufacturing spells a reduction in demand for parts and accessories manufactured in Australia, it creates a platform for major Indian auto component manufacturers to collaborate/ have joint ventures with Australian manufacturing companies to supply the aftermarket with genuine spares.
Mozambique
(Source : High Commission of India, Maputo)
High Commission of India organized a business conference in the IT sector: On December 10, High Commission of India in Maputo, in collaboration with Mozambican Association of Information Technology Professionals and Enterprises (AMPETIC), organized a business conference titled ‘‘Business Potential between India and Mozambique in the sector of Information Technology and Communication’’, in Maputo. The Conference was presided by the Permanent Secretary to Ministry of Science and Technology, Higher and Technical Professional Education, Mr. Celso Laice. Representatives of four Indian IT companies came from India to attend the conference. The conference provided a platform for Indian and Mozambican companies in the ICT sector to showcase their innovative ideas, new technologies, products, services and business corridors. It also provided a platform to enhance trade and investment in ICT sector between the two countries. The conference was followed by B2B meetings between Indian and Mozambican companies. High Commissioner, Shri Rajeev Kumar highlighted India’s investment in different sectors in Mozambique, particularly in gas and coal sector. HC informed about the position of bilateral trade between both the countries and also noted that India is the biggest export destination of Mozambican goods and services. HC also mentioned the potential of business and trade in ICT sector between India and Mozambique and encouraged Mozambican business people to attend IndiaSoft event in Hyderabad in March 2020 for more future cooperation. Permanent Secretary, Mr. Celso Laice congratulated High Commission of India and AMPETIC for this initiative, noted India’s assistance for the establishment of Maluana IT Park in Maputo and also stressed on more cooperation from India in ICT sector. Representatives of more than 70 Indian and Mozambican companies of the ICT sector attended the conference which was well covered by electronic and print media.
Venezuela
(Source : Embassy of India, Caracas)
Indian oil firms to wind down business in Venezuela fearing US sanctions: According to media reports, Indian refiners Reliance Industries Limited and Nayara Energy are planning to wind down purchases of Venezuelan oil in April fearing future U.S. sanctions could choke off all avenues to trade with state-run oil firm PDVSA. Such a step by Reliance, would severely curtail purchases by one of Venezuela`s last big export destinations. India accounted for about a third of Venezuela`s oil shipments in January. The move comes as U.S. President Donald Trump warned in New Delhi this week of an increase in sanctions on Venezuela. The U.S. Government set a 20 May 2020 deadline for companies to wind down purchases from Rosneft. Reliance, a long-time customer of PDVSA, has so far not placed requests for April cargoes, one of the sources said. Nayara Energy, partially owned by Rosneft, is planning to stop processing Venezuelan oil at its refineries after receiving two cargoes that are scheduled for loading in March, two of the sources said. It will lift no shipments of Venezuelan crude in April "since RTSA (Rosneft Trading SA) was doing all that business and no one else will pick it up," one of the sources said, given shipping times.
Potential products of exports for India
Auto-parts - 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.
Oil and gas machinery and spare parts - 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.
Electric Steel - 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.
India`s Reliance says purchases of Venezuelan oil have been approved by the U.S: India’s refining firm Reliance Industries said on 06 February 2020 that its purchases of Venezuelan crude were reported and approved by the U.S. government amid sanctions imposed by Washington since early 2019 on PDVSA.
Indian buyers of Venezuela oil vowed compliance as US sanctions hit Rosneft: Indian conglomerate Reliance Industries is studying the impact of the newly imposed U.S. sanctions on a unit of Russia’s Rosneft over trade of Venezuelan crude oil, and would make sure that its purchases from Venezuela comply with the U.S. regulations. “Reliance will continue its direct communications with the U.S. Government to ensure that Reliance’s purchases of Venezuelan oil after the Rosneft Trading SA (RTSA) sanctions are both compliant with U.S. sanctions and consistent with U.S. policies regarding Venezuelan oil sector,” the Indian company said in a statement.
Indian oil firms to wind down business in Venezuela fearing US sanctions: Indian refiners Reliance Industries Limited and Nayara Energy are reportedly planning to wind down purchases of Venezuelan oil in April fearing future U.S. sanctions could choke off all avenues to trade with state-run oil firm PDVSA. Such a step by Reliance, would severely curtail purchases by one of Venezuela`s last big export destinations. India accounted for about a third of Venezuela`s oil shipments in January. The move comes as U.S. President Donald Trump warned during his visit to India in February of an increase in sanctions on Venezuela. The U.S. Government set a 20 May 2020 deadline for companies to wind down purchases from Rosneft.