Author: Editorial Desk

India’s frozen food industry is undergoing rapid growth, driven by technological advancements, changing consumer habits, and sustainability initiatives. With modern freezing techniques and smart technology, the sector is transforming into a mainstream source of convenient, nutritious meals. Rapid urbanization, rising disposable incomes, changing lifestyles, and improved cold chain infrastructure are key factors boosting this market. The Indian frozen food market reached INR 167.3 billion in 2023, and it’s expected to grow to INR 561.6 billion by 2032, with a projected annual growth rate of 14%. Smart Technology and Food Preservation Modern freezing techniques, such as individual quick freezing (IQF), are…

Pakistan: Entrepreneurs from Khyber Pakhtunkhwa (KP) have sounded alarms over the provincial government’s recent imposition of a 2% Infrastructure Development Cess (IDC) on the commercial value of export consignments. The decision, they argue, has triggered a staggering 70% reduction in exports, leading to serious concerns about the province’s economic trajectory. Notable figures, including prominent exporter Khalid Sultan Khwaja and Pak-Afghan Joint Chamber of Commerce and Industry (PAJCCI) Coordinator Zia-ul-Haq Sarhadi, warned that without urgent intervention, the levy would further erode KP’s already shrinking export volume, jeopardizing the livelihoods of thousands. “Taxation on the commercial value of export consignment amounts in…

The 2024 China International Fair for Trade in Services (CIFTIS) delivered a striking demonstration of advanced digital tech, from AI-powered digital humans to virtual reality simulations. The event, held in Beijing, drew over 450 Fortune 500 companies and industry leaders representing 85 countries and international organizations, underscoring its significance as a global stage for innovation. Zhang Feng, Party chief of the Council of the Chinese Institute of Electronics, highlighted the critical role that technologies like AI, big data, and cloud computing now play in shaping the future of the digital economy. Zhang stated, “With the continuous innovation and application of…

Reports indicate that Iran has turned to cryptocurrency, including Bitcoin, to sidestep severe international sanctions and facilitate the export of advanced ballistic missiles to Russia. While yet to be officially verified, this move suggests a bold shift in how Tehran navigates economic blockades, potentially redefining global arms trade practices. Intelligence sources reveal that Iran has supplied Russia with a large cache of ballistic missiles, including the Fateh-110, Zolfaghar, and Fateh-360 models. These advanced weapons, noted for their accuracy and extended range, are believed to be part of a broader military supply effort to support Russia’s current conflicts, particularly the ongoing…

India’s diamond sector is reeling from a dramatic collapse as both imports and exports plummet. The Global Trade Research Initiative (GTRI) highlights a troubling scenario marked by defaults, factory shutdowns, and significant job losses. Thousands of workers find themselves unemployed, and the sector faces unprecedented challenges with unsold rough diamonds. Ajay Srivastava, GTRI’s Founder, underscores the gravity of the situation, pointing out the emotional and financial toll it has taken. “This has led to defaults, factory closures, and widespread job losses. Tragically, more than 60 individuals from Gujarat’s diamond sector have taken their own lives, highlighting the intense financial and…

British Ambassador Laure Beaufils hosted a reception at her residence on September 17, celebrating a key development in UK-Philippine trade—the resumption of UK poultry exports after a three-year halt caused by highly pathogenic avian influenza (HPAI). Ambassador Beaufils, marking her third year in the Philippines, spoke of the initial setback from the ban but emphasized the positive shift. “Tonight, I am here to reaffirm the UK’s commitment to the highest safety standards in agriculture, to celebrate with all of you the return of UK poultry to the Philippines after three years, and indeed to celebrate the growth of this industry,…

India’s export sector faces substantial hurdles, as high freight costs and a scarcity of domestically produced containers strain the country’s global trade capabilities. The Global Trade Research Initiative (GTRI) points to critical gaps in shipping infrastructure and container manufacturing, calling for decisive steps to regain control over trade costs and reduce reliance on foreign shipping entities. The cost of shipping a 40-foot container has seen significant fluctuations from 2022 to 2024, with disruptions in the Red Sea exacerbating the situation. Indian exporters now face shipping rates that have surged to more than twice their levels from a year prior. Current…

India’s escalating copper demand has positioned Peru as a vital partner in securing its supply needs. As both nations edge closer to finalizing a landmark copper trade deal, their economic collaboration is set to reshape the global copper market. India’s Expanding Copper Needs Copper has become an indispensable resource for industries driving clean energy advancements, from wind turbines to electric vehicle batteries. This surge in demand has outpaced India’s domestic production, leading to a sharp increase in copper imports. By 2024, India’s copper concentrate imports reached ₹26,000 crore, up from ₹13,000 crore in 2019, underscoring its deepening dependence on international…

The Indian government has lifted the floor price on Basmati rice exports, aiming to enhance the global trade of its premium rice variety. The decision is expected to bolster India’s position in international markets, addressing concerns raised by exporters and industry stakeholders. Earlier, in August 2023, authorities had set a minimum export price of $1,200 per metric ton (MT) to curb potential misuse of export channels amid domestic price surges. This measure sought to prevent the misclassification of non-basmati rice as Basmati and safeguard the country’s rice supplies. The high price threshold, however, sparked concerns from exporters, as it constrained…

Foreign Minister Antonio Tajani reaffirmed Italy’s support for the European Commission’s proposed tariffs on Chinese EVs imports. During a conversation with Corriere della Sera, ahead of a key meeting with China’s Commerce Minister Wang Wentao, Tajani emphasized Italy’s commitment to shielding European companies from unfair competition. “We back the EU Commission’s duties proposal to safeguard the competitiveness of our companies,” Tajani noted. Wang Wentao, currently on a European tour addressing the EU’s anti-subsidy investigation into Chinese EVs, met Tajani in Rome on Monday. Although the official Italian statement omitted direct references to EVs, key topics like intellectual property rights, agri-food…