Greece
(Source : Embassy of India, Athens)
Significant trends in trade and investment
Trade in Goods - According to latest availabledata on bilateral trade by theHellenic Statistical Authority,processed by the ExportResearch Centre (KEEM), inJanuary-May 2020 Greekimports from India was 165.1million Euro (decreased by8.0% as compared to JanuaryMay2019 when it was 179.4million Euro) and Greekexports to India in JanuaryMay2020 was 28.0 millionEuro (decreased by -20.3% ascompared to January-May2019 when it was 35.1 millionEuro).
Analysis -According to latest available databy the Hellenic StatisticalAuthority, the total value of Greekimports for the 5-month periodfrom January to May 2020 incomparison with the correspondingperiod of the year 2019, amountedto Euro 19,096.1 mil., decreasedby 16.8%. The total value of Greekexports for the 5-month periodfrom January to May 2020 ascompared to January-May 2019amounted to Euro 12,010.2 mil.,decreased by 13.5%..
On 08.6.2020 it was reported on an agricultural issues website www.ellinikigeorgia.gr that, inIndia, landmark decisions will determine the future of millions of farmers: Three landmarkdecisions on the primary sector have been approved by the Indian Government. Thesedecisions include amendments to the Law on Basic Agricultural Products, the trade inagricultural products and the Law on the Empowerment and Protection of the AgriculturalPopulation, which included the Price Guarantee Agreement.
New Zealand
(Source : High Commission of India, Wellington)
Cooperation among Indo-Pacific countries in fighting Covid-19 pandemic: India has been engaged with the US, Australia, Japan, ROK, Vietnam and New Zealand in weekly telephonic conversations between 20 March– 15 May at Foreign Secretary level to share ideas and best practices.
India and New Zealand are among the 62 nations that have come together to back Australia’s call for an independent inquiry into the origins of tshe coronavirus pandemic. A draft resolution was put upto the WHO Director-General Dr.Tedros Ghebreyesus on 12May 2020, requesting to begin the investigation. Other countries backing the resolution include Australia, Brazil, Canada, Japan, the Russian Federation, the European Union and its member states, Turkey, Ukraine, the United Kingdom among others.
COVID-19 Response Webinar hosted by INZBC: A webinar on disruptions of global supply chains was hosted on 14 May 2020 by the India New Zealand Business Council (INZBC). The panel of speakers included Ernst & Young NZ’s Executive Director Mark Shepherd, Second Secretary (Political, Information & Commercial Representative) Shri Paramjeet Singh from the High Commission of India and Jeena& Co-DEL India Country Head Predimen K. Koul.
High Commissioner attends Video Conference with CEO of Ola: High Commissioner Shri Muktesh Pardeshi attended a video conference with the CEO of Ola, Shri Bhavish Aggarwal wherein the Ola team gave a presentation on Ola’s activities in NZ and also sought High Commissioner’s views to expand its footprint in NZ. Ola started its operations in Auckland, Wellington and Christchurch in 2018 and expanded its operations in 11 other cities in December, 2019.
High Commission of India, Wellington hosted a media conference during which High Commissioner Shri Muktesh K Pardeshi briefed the media about the more than 2,200 Indians stranded in NZ and the assistance being provided to them by the Mission and the Honorary Consulate in Auckland with help from a few NGOs. He also briefed about the possible plan to evacuate the stranded Indians in the near future and the standard operating procedure to be followed for doing the same.
Switzerland
(Source :Embassy of India, Berne)
Potential products of imports from India
Commodity - Medium oils and preparations, of petroleum or bituminousminerals, n.e.s. containing by weight => 70% of petroleum,these oils being the basic constituents of the preparations (excl.light oils and preparation)[HS Code 2710.19] .
India’s Export to World in April. 2020 – 1084.51 USD Million
India’s Export to Switzerland in April 2020 – 0 USD Million
Switzerland’s Import from World in May 2020 – 136 USDMillion
Rationale - Comparison between India’s exports to the world(April. 2020), India’s export to Switzerland (April /May 2020) and Switzerland’s imports from the world(May 2020) at 6 digit HS Code.
Commodity - Medicaments for therapeutic or prophylactic uses, put up inmeasured doses, incl. those in the form of transdermaladministration systems, or in forms or packings for retail sale(excl. goods of headings 3002, 3004.10 3004.50 to 3005, or3006)[HS Code 3004.90]
India’s Export to World in April. 2020 – USD 980.46 Million
India’s Export to Switzerland in April 2020 – USD 0.43 Million
Switzerland’s Import from World in May 2020 – 1,695 USDMillion.
Rationale -Comparison between India’s exports to the world(April. 2020), India’s export to Switzerland (April /May 2020) and Switzerland’s imports from the world(May 2020) at 6 digit HS Code.
Significant trends in trade and investment in May 2020
Trade in Goods - The total export products to Switzerland registered a decrease of
–12%, (USD 106 Million) in May 2020 as compared to April 2020 (121 USD illion).However, India’s increase in exports in May 2020 was particularlyseen in the field - Women`s or girls` dresses of artificial fibres(excl. knitted or crocheted and petticoats) (HS Code 6204.44)The total import products from Switzerland registered a massivedecrease of -20% in May 2020 (USD 108 Million), as compared toApril 2020 (USD 135 million).
However India’s registered increase in imports was particularlyseen in the field of Gold, incl. gold plated with platinum,unwrought, for non-monetary purposes (excl. gold in powderform) [included in the special trade since 1.1.2012] (HS Code 7108.12); Static converters (HS Code 8504.40)
Analysis - Due to the ongoing COVID-19pandemic, both Export andImports between India andSwitzerland was affected withIndia’s trade with Switzerland forMay 2020, accounted for 0.44% ofSwitzerland’s total trade.
Trade in Services - The Service-related data is available on the Swiss side only on quarterly basis. In comparison to the 4th Quarter of 2019, in the 1st Quarter of 2020,the Services exports from India to Switzerland saw increase in Consulting Services (14.1%); followed by Telecommunications, computer and information services (9.6%) and Technical, trade-related, and other business services (6.8). The Services imports from Switzerland saw increase in, Other services [Manufacturing services, maintenance and repair services, construction services, personal services, government services] (2.9%); and Licence fees (1.2%). Overall, the Services trade was in favour of India.
Analysis - Overall the trade in Services is infavor of India. License Fees [IPRrelated] expectedly is in favour ofSwitzerland.
Investment - As per DIPP, the FDI from Switzerland to India from April 2000 toMarch stood at USD 4842.38 million, making 1.03% of the totalFDI Equity inflow. As per RBI figures, the total ODI from India toSwitzerland during May 2020 was USD 0 million compared to USD0.28 million in April 2020.
Analysis - The investments from India toSwitzerland are largely in field ofManufacturing, Financial,Insurance, and Business services,and Wholesale, Retail Trade,Restaurants. And Hotel.
Important India related statements of commercial significance by political leaders, think tanks, chambers, associations etc. / Significant stories/features on India related trade, investment, services and logistic sector, published in foreign journals/dailies, etc.
Infosys and Avaloq Partner to Strengthen Wealth Management Capabilities through Digital Platforms: On 28 May2020, Indian technology company Infosys announced strategic partnership with Zurich based digital technologyprovider Avaloq to strengthen and provide end-to-end (e2e) wealth management capabilities throughdigital platforms. Infosys will leverage its Global Delivery Model and a standardized approach toimplement Avaloq’s solutions for clients; Avaloq’s specialized knowledge and experience in providingend-to-end wealth management solutions combined with Infosys’ global presence and digitaltransformation capabilities will help create a one-stop-shop for wealth management clients.
HCL and Temenos sign exclusive agreement for non-financial services enterprises: On 02 June2020, Noida based leading global technology company HCL Technologies and the banking softwarecompany Temenos, headquartered in Switzerland, announced the signing of an exclusive strategicagreement for non-financial services enterprises. The agreement is exclusive for 7 years and under theagreement HCL has been granted a license to develop, market and support Temenos multi-experiencedevelopment platform (MXDP) for non-financial services enterprises; and Temenos with further enhancedvisibility on profitability and cash flow and underlines the resilience of Temenos’ businessmodel.
Swiss fuel cell specialist Hexis to become a part of mPower GmbH: On 03 June 2020, Dresden, Germanybased mPower GmbH, whose parent company is an Indian (Pune based) high tech company h2ePower Systems Private Limited, announced that Swiss fuel cell specialist Hexis will became a part ofmPower GmbH, as per the agreement signed between the two companies. The agreements also includethe future cooperation of Hexis with the previous owner for the supply of SOFC fuel cell modules.
Thailand
(Source : Embassy of India, Bangkok)
Meeting with TAPMA President
08.07.2020
Deputy Chief of Mission Mrs. Alpana Dubey held a meeting on 8th July, 2020 with President of Thai Auto Parts Manufacturers Association (TAPMA) and discussed about mutual collaboration in auto parts sector.