Australia
(Source : Consulate General of India, Sydney)
(i) During the first 5 months of the Calendar Year (Jan-May), Australia exported merchandise goods to India worth USD 5.2 billion, while importing goods worth USD 1.8 billion from India. Indian merchandise Exports to Australia for Jan-May 2018 witnessed an increase of 25.3% over Jan-May 2017. Whereas, during the same period Australia’s export to India increased by 11.3%.
(ii) During the reporting period, the commodities of export from India to Australia included Refined Petroleum, Railway vehicles, Medicaments, Pearls & precious stones, made up articles of textile materials, passenger motor vehicles, jewellery, organo-inorganic compounds, manufactures of base metal,floor coverings, articles of apparels and textile fabrics, travelling cases and bags, equipment for distributing electricity, fixed vegetable fats & oils and women / girls clothing, in that order.
(iii) In Jan-May 2018, export of Passenger Motor Vehicles from India to Australia increased by 231% over Jan-May 2017 (with value of US$ 53 million) and ‘equipment for distributing electricity’ by 250% during the same period (with value US$ 21 million). The increase in export of Passenger Motor Vehicles from India could be the impact of closing down of manufacturing plants of vehicles. In the last couple of years, many of the assembling and manufacturing plants of vehicles in Australia were closed down. The last in the line was ‘Holden’ (General Motors) manufacturing plant that was closed down in October 2017.
(iv) Export of ‘Coal’ from Australia to India was the main contributor for the volume of bilateral trade between the countries for the period Jan-May 2018, with a value of USD 3.4 billion, amounting to 48% of total bilateral trade in value terms.
(v) The total merchandise trade between India and Australia was increased from USD 6.1 b to USD 7 b between Jan-May 2017 and Jan-May 2018, with an increase of 15%.
Guyana
(Source : High Commission of India, Georgetown)
With discovery of oil and gas in Guyana and expected oil production in 2020, there are a number of business/investment opportunities in the Guyana oil and gas sector and particularly in services related to the sector. All such service requirements are notified through the Centre for Local Business Development (CLBD) in Guyana. The Centre provides a space for international firms as well to learn about opportunities in the oil and gas sector and prepare to join the oil and gas supply chain. You may kindly circulate this information to all members of your organization and request the interested companies/members to register with CLBD through their website: www.clbdguyana.com or contact them at email: info@CLBD@CLBDGuyana.com to enable them to receive all details of such available opportunities.
Russia
(Source : Embassy of India, Moscow)
Russia offers India satellite engines
Russia might start importing a new high technology product – plasma jets for space craft to India. The home system qualifies for the victory in the contest of the Indian Space Research Organisation (ISRO). Concluding of a contract will open an opportunity to set Russian products on a number of foreign geosynchronous vehicles.
Russia, India to sign $1 bln contract for delivery of 200 Kamov Ka-226T helicopters before April 2018 - Russian Helicopters
Russia and India signed an agreement on cooperating in the helicopter industry in 2015. According to this document, the Russian Helicopters holding pledged to organize the delivery to India and the localized production of 200 Kamov Ka-226T helicopter and its modifications, while at least 140 vehicles will be built by a joint venture in India. The agreement also stipulates maintenance, operation, and repairs of helicopters, and relevant technical support. The contract for the delivery to India and the localized production of 200 Kamov Ka-226T helicopters would have an overall price of $1 billion.
Russia agrees to lower LNG prices for 20-year contract with India
This is the third such successful renegotiation of LNG prices by India after those with Qatar’s RasGas and America’s Exxon Mobil Corp. Russia`s Gazprom and GAIL India have reworked a long-term contract facilitating the latter to import liquefied natural gas (LNG) from the former at a price much lower than was earlier negotiated. Though the exact price changes were not immediately revealed, it is speculated that this would help India save millions of dollars on import bills.
The deal originally signed in 2012 between GAIL and Gazprom Marketing & Trading Singapore envisaged the trading of 2.5 million tonnes of LNG per year for 20 years. Gazprom has also agreed to defer the delivery of some of the quantities by three to four years.
Saudi Arabia
(Source : Embassy of India, Riyadh)
Saudi Aramco signed Framework Agreement with ADNOC and MoU with Indian Consortium RRPCL: Saudi Aramco and the Abu Dhabi National Oil Company (ADNOC) announced (25/6) that they have signed a Framework Agreement to jointly participate in developing the Ratnagiri Refinery and Petrochemicals Limited (RRPCL), a 1.2 million barrels per day integrated mega refinery and petrochemicals complex at Ratnagiri, 215 miles south of Mumbai. The Framework Agreement was signed by Amin Nasser, CEO of Saudi Aramco, Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO.
In addition, Saudi Aramco, ADNOC, Ratnagiri Refinery & Petrochemicals Limited (RRPCL), Indian Oil Corporation Ltd., Bharat Petroleum Corporation and Hindustan Petroleum Corporation signed a Acknowledgment Agreement recognizing the MoU between Saudi Aramco and ADNOC. Sheikh Abdullah bin Zayed bin Sultan Al Nahyan, UAE Minister of Foreign Affairs and International Cooperation, and Shri Dharmendra Pradhan, India’s Minister of Petroleum and Natural Gas, witnessed the signing of the agreements between ADNOC, Saudi Aramco and a consortium of three Indian oil companies. Amin H. Nasser, Saudi Aramco president and CEO, emphasized the JV’s long-range focus and added that the world energy demand is expected to grow exponentially by 2050, driven in large part by India.
Thailand
(Source : Embassy of India, Bangkok)
Samsung`s Indian factory world`s biggest
Bangkok Post 11.07.2018
Samsung Electronics Co Ltd has formally opened a new factory in India, which the South Korean tech group says is the world`s biggest mobile phone manufacturing plant, part of its plans to expand production in the world`s fastest growing major mobile phone market. "The factory in Noida, on the outskirts of New Delhi, will allow Samsung to make phones at a lower cost due to its scale at a time when other phone making hubs such as China are getting more expensive," analysts tracking the sector said. The factory, inaugurated jointly on Monday by Indian Prime Minister.
India muscles past France
Bangkok Post 12.07.2018
India has become the world`s sixth-biggest economy, pushing France into seventh place, according to updated World Bank figures for 2017. India`s gross domestic product (GDP) amounted to $2.597 trillion at the end of last year, against $2.582 trillion for France. India`s economy rebounded strongly from July 2017, after several quarters of slowdown blamed on economic policies pursued by Prime Minister Narendra Modi`s government. India, with around 1.34 billion inhabitants is poised to become the world`s most populous nation, whereas the French population stands at 67 million. This means that India`s per capita GDP continues to amount to just a fraction of that of France which is still roughly 20 times higher, according to World Bank figures. Manufacturing and consumer spending were the main drivers of the Indian economy last year, after a slowdown blamed on the de-monetisation of large banknotes that Modi imposed at the end of 2016, as well as a chaotic implementation of a new harmonised VAT regime.
Experts urge use of online tools
Bangkok Post 13.07.2018
Thai businesses should understand customer preferences, have a target group of users and use online marketing and social media to empower cross-border trade opportunities in China and India, says business ad tech experts. "The value of international trade between Thailand and India is UScopy1 billion (366 billion baht)," said Rakesh Singh, director of the Thailand-India Business Council. Speaking at a Post Today seminar on small businesses expanding to China, India and Asean, Mr Singh said India is a diverse country with myriad cultures and languages. "Brands that want to sell in India should research specific target groups rather than the whole country," he said. The average millennial in India is 27 years old, and with massive urbanisation, there are lots of smart city projects, said Mr Singh. "India will have the largest population by 2030, outpacing China, and this is very large opportunity for businesses. The government has also eliminated outdated regulations, allowing businesses to simply run," he said.