The session will bring together government officials, financial institutions, export credit agencies, investors, and development partners to discuss how risk mitigation solutions can mobilize private capital, strengthen regional integration, and support sustainable growth across Azerbaijan and the wider OIC region.

With Azerbaijan’s strategic location between Europe and Asia, and its growing role in connectivity, logistics, renewable energy, infrastructure, and non-oil economic diversification, the HLPD will highlight practical opportunities for de-risked investment and cross-border cooperation. The discussion will also showcase how ICIEC’s Shariah-compliant political risk insurance and credit enhancement solutions can help address investment barriers, enhance investor confidence, and unlock financing for priority development projects.

ICIEC’s CEO, Dr. Khalid Khalafalla, stated, “This high-level panel discussion is an important platform to advance dialogue and partnerships around regional integration. Through its risk mitigation solutions, ICIEC helps turn investment opportunities into bankable projects that support trade, investment, and sustainable development across Member States.”

The post ICIEC Hosts High-Level Panel on Trade and Investment De-Risking at 2026 IsDB Group Annual Meetings appeared first on NRI News.

NEW DELHI: Anant Goenka, President, FICCI, said,

“We thank Prime Minister Narendra Modi and President Donald Trump for the trade deal that marks a significant reset in India–US economic ties. The reduction of reciprocal tariffs on Indian goods to 18 per cent — following months of negotiation by the Commerce and Industry Minister and his team — will materially improve the competitiveness of Indian exports in the world’s largest import market. With sectors such as apparel, leather, gems and jewellery, and marine products poised to benefit, this agreement has the potential to strengthen business confidence and deepen bilateral economic engagement. If implemented effectively, it can provide a meaningful boost to India’s export growth trajectory, broaden market access, and underscore the strategic importance of sustained cooperation between two of the world’s largest democracies.”

The post Exploring the India-US Trade Agreement appeared first on NRI News.

MUMBAI: World Trade Center Mumbai warmly welcomes the landmark conclusion of the long-awaited India–European Union Free Trade Agreement (FTA) announced at the 16th India–EU Summit. The agreement, hailed by leaders on both sides as the “mother of all deals”, marks the conclusion of nearly two decades of negotiations and establishes one of the world’s largest trade partnerships, connecting markets of nearly two billion people and representing close to one-quarter of global GDP and one-third of global trade.

In his reaction to the announcement, Dr. Vijay Kalantri, Chairman, World Trade Center Mumbai and President, All India Association of Industries (AlAI), stated, “The finalisation of India-EU trade negotiations marked a historical movement in the global markets. This agreement between India and the European Union has the potential to reshape global trade flows, strengthen supply chains, and unlock greater opportunities for MSMEs, start-ups, and large enterprises on both sides.”

Dr. Kalantri further said, “With over 99% of Indian exports set to gain preferential access to the European Union market, this will unlock significant growth opportunities. Sectors that create ample job opportunities, like textiles, leather, marine products, wines, gems, and jewellery, will also get a boost. This agreement is a win-win as Indian consumers will get quality European products at lower prices and exporters will be able to enter the European markets”.

“In addition, the maritime partnership will deepen cooperation in maritime security, resilient supply chains, sustainability, and digital trade, thereby strengthening the overall economic engagement between India and the European Union. This will secure our maritime borders from common threats, reduce the cost of logistics, making cargo movement cheaper and environmentally friendly,” stressed Dr. Kalantri.

 “India’s large trade capacity, demographic dividend, manufacturing scale, and digital innovation, combined with Europe’s price-insensitive markets, technological leadership, sustainability frameworks, and advanced manufacturing strengths, create a significant advantage for both economies. This deeper India–EU engagement, especially amid geopolitical uncertainties, sends a strong signal in favour of rules-based trade, strategic diversification, and sustainable growth, while setting global benchmarks in green trade, digital transformation, and inclusive development.”

“With India aspiring to become a USD 30 trillion economy by 2047 and the European Union seeking deeper engagement with the Indo-Pacific, this agreement will serve as a cornerstone of a new global trade architecture, one that is resilient, sustainable, and future-ready,” Dr. Kalantri said.

Prime Minister Narendra Modi described the pact as the biggest free trade agreement in India’s history, underscoring its potential to deepen economic ties. European Commission President H.E. Ms. Ursula von der Leyen and European Council President H.E. Mr. António Luís Santos da Costa also welcomed the breakthrough, signalling strengthened strategic engagement between India and the EU.

WTC Mumbai looks forward to the outcomes of the India-EU Summit and remains committed to supporting initiatives that strengthen bilateral trade, investment, and economic cooperation between India and Europe.

The post Historic India–EU Trade Agreement: World Trade Center Mumbai Highlights Its Significance for Global Economic Relations appeared first on NRI News.

Recognizing the unique demands of the Maharashtra market, Walkaroo has launched products across multiple categories:

• Walkaroo+ and Walkaroo++ Urbanoz Range: Featuring ergonomic footbeds and arch support, designed for unmatched comfort and style.
• Walkaroo Flip-Flopz: Lightweight and trendy EVA and Hawai footwear, crafted to appeal to young customers.
• Walkaroo Sportz: New range of shoes with advanced features, designed for active lifestyles.

V. Noushad, MD of Walkaroo said “We aim to become the most preferred brand in Maharashtra by catering to not just the functional needs of our customers but also their fashion aspirations, all while ensuring comfort”

Walkaroo reaches customers of Maharashtra through the network of over 10000  Retailers.  Walkaroo’s extensive range and innovative initiatives are a testament to its mission of delivering high-quality, fashionable, and comfortable footwear to its customers while staying ahead in the industry.

The post Walkaroo Unveils 1000 New Footwear Models at Trade Show 2025 appeared first on NRI News.

“We suggest that all the traders who have paid, collected, and deposited GST and all other taxes should be accumulated and 10% of the entire taxes deposited be given to traders as a pension so that he can lead his old age comfortably. The government should consider starting the Ladke Vyapari scheme for the traders in the form of pension at the rate of 10% of the tax collected“, said Fatechand Ranka.

“Secondly, about the penal charges for name boards and hoardings. The PMC has increased the charges for the name boards and hoardings from Rs.111/- to Rs.580/- per square foot, which is excessive without any reason to increase the same. So, we suggest that the renewal of hoardings/display boards/names boards be done @ Rs.222/- per square foot“, said Mahendra Pitaliya.

Suryakant Pathak highlighted the GST-related issue and said, “Many times certain traders neither file the GST returns nor do they pay the GST collected from the earlier traders. This creates a problem for the trader who has already paid the GST as he does not get the set-off. The problem also arises when a trader files GST returns after the given deadline. Despite repetitive requests, no action has been taken against such traders so far. So, we suggest that the government take the step to abolish the troublesome provisions in the GST.”

The post The Federation of Trade Associations of Pune Calls for the ‘Ladke Vyapari’ Scheme appeared first on NRI News.

This strategic MoU aims to establish a solid collaboration between ICIEC and JBIC by leveraging ICIEC’s insurance services and JBIC’s financial facilities. The partnership will facilitate transactions involving Japanese companies as exporters, EPC contractors, or investors in projects that promote the development of ICIEC’s member states, with a particular focus on Central Asia.

The collaboration is set to significantly boost trade and investment between ICIEC member states and Japan, including initiatives focused on climate action projects such as renewable energy generation.

Dr. Khalid Khalafalla, Officer-in-Charge of ICIEC said “An MoU existed between the IsDB Group and JBIC since 2016. However, the one ICIEC signed with JBIC is linked to the existing Group-level one.  He added that “this MOU formalizes and strengthens the longstanding partnership between ICIEC and JBIC and aligns with our shared vision of promoting sustainable economic development in ICIEC member states. By leveraging our respective expertise and resources, we can enhance trade and investment opportunities for the mutual benefit of our stakeholders”. This agreement marks a significant milestone in ICIEC’s ongoing efforts to foster economic growth and development in its member countries through strategic international partnerships.”

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MUMBAI: The Indian Gas Exchange (IGX) traded 4.92 million MMBtu (~124 MMSCM) gas volume in May’24, higher by 99% MoM & 480% on a YoY basis. Trade volumes were high mainly due to an increase in gas demand from gas-based power plants amid hot weather and directives from the government to maximize their output to address the growing electricity demand.

 A total of 96 trades were executed in May’24. During the month, 32 trades (maximum number) were executed in Monthly contracts, followed by 29 trades in Daily contracts and 19 trades in Weekly contracts, other contracts were Fortnightly, Weekday & Day-Ahead.

The most active delivery point for free market gas was Dahej & KG Basin for Ceiling Price gas, other trading delivery points were Hazira, Ankot, Suvali & Mhaskal.

During the month, the Exchange traded gas deliveries were 3.47 million MMBtu (~3 MMSCMD).

GIXI (Gas Index of India) for May 2024 was Rs 851/$10.2 per MMBtu, higher by 13% last month. GIXI-South was Rs. 786/$9.4 per MMBtu and GIXI-West Rs 901/$10.8 per MMBtu.  Different spot gas benchmark prices recorded were: HH at ~$2.1/MMBtu, TTF at ~$10 /MMBtu, whereas LNG benchmark indices were: WIM at ~11.3 $/MMBtu.

The total Domestic ceiling price category gas traded during the month was 0.20 million MMBtu at ceiling price (₹823/MMBtu) at KG Basin delivery.

IGX currently offers delivery-based trade in six different contracts such as Day-Ahead, Daily, Weekday, Weekly, Fortnightly, and Monthly, under which the trade can be executed for six consecutive months.

The gas trade takes place at multiple delivery points, such as – Dahej, Hazira, Ankot, Mhaskal, Bhadhbhut, Dabhol, KG Basin, Gadimoga, and Suvali. It covers six regional gas hubs, namely, Western Hub, Southern Hub, Eastern Hub, Central Hub, Northern Hub, and North Eastern Hub across India.

Note: The delivered volumes price excludes domestic ceiling price gas traded at ceiling price.

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INDIA: The Saudi Tourism Authority (STA) marked the start of this year’s Arabian Travel Market (ATM) by showcasing Saudi’s spectacular summer destinations to trade partners – as the country’s tourism sector continues to go from strength to strength.

Representatives from Saudi’s booming tourism ecosystem kicked-off the Middle East’s biggest travel and tourism trade show aiming to build awareness of Saudi’s unique and diverse summer destination offering, strengthen and establish new trade partnerships, and celebrate the remarkable year-on-year growth of the Saudi tourism sector.

Fahd Hamidaddin, CEO and Board Member of STA, is leading the Saudi delegation of 72 partners from across the tourism sector, including top destination management companies, hoteliers, and airlines, to the show that started in Dubai today.

The delegation is aiming to showcase Saudi’s distinctive summer destinations to trade partners and consumers in the GCC region and underline Saudi’s status as a world-leading year-round tourism destination, with a strategic focus on priority markets like India and China.

Over the summer season, Saudi offers a unique and diverse range of activities and destinations for visitors including young families ranging from the pristine beaches of the Red Sea, the rich culture of Jeddah, and an events program like no other, including the Esports World Cup starting in Riyadh this July.

Saudi’s mountainous regions including the tranquil and picturesque destinations of Aseer, Taif, and Al Baha also provide a refreshing escape during the summer season with temperatures in the low 20s. These serene retreats are ideal for adventure travelers who seek natural beauty, wildlife, hiking trails, and cool breezes.

Fahd Hamidaddin, CEO and Board Member of STA, said: “We’re delighted to be back at ATM this year to showcase Saudi as a unique summer destination, offering an action-packed events calendar, cool mountain regions for adventurer seekers, and pristine beaches for families and those looking to relax.

The MEA and APAC markets are hugely important in our overarching tourism strategy with a combined 23 million visits last year, and we will be focusing on growing those numbers.

Having welcomed over 100m tourists in 2023, Saudi is the land of now – offering growth and opportunities like no other to trade partners across the globe. And over the coming days, we look forward to building new long-lasting partnerships, sharing knowledge, and showcasing the wealth of opportunities Saudi has to offer.”

Building on the success of last year’s presence at ATM, where over 50,000 visitors were welcomed at the Saudi stand, this year’s exhibit is set across three floors with partners showcasing hundreds of affordable and luxury bookable products for destinations such as Jeddah, AlUla, Aseer, Riyadh, and the Red Sea.

Visitors can race a bike through the mountains of Aseer on a virtual simulator, download specially curated Saudi Summer playlists in partnership with Anghami, see an array of football memorabilia at the Saudi Pro League Museum, and enjoy live performances of traditional Saudi dancers, digital art displays from local artists. The diversity of Saudi will also be showcased with an interactive Saudi map and activities calendar.

The stand also showcases the new “Saudi Rewards” scheme, a first-of-its-kind national rewards program, offering free nationwide rewards for citizens and visitors to unlock points on tourism, shopping, dining, entertainment, and more. Saudi Rewards currently has a network of 17 partners and will have a dedicated booth at ATM with interactive activations for visitors to enjoy.

On the first day of the event, Mr Hamidaddin participated in a flagship panel event alongside other tourism leaders from the GCC to discuss collaboration and Saudi’s role in the region’s growing tourism sector.

Popular UAE radio station Dubai Eye also broadcast their afternoon show live from the Saudi booth where they discussed Saudi’s summer offering, while trailblazing Indian influencer Masoom Minawala Mehta and world-famous travel influencer brothers, Wael and Nael Abualteen, were on the stand creating content for their social channels.

STA and its partners are aiming to build on the successes of last year’s ATM, where more than 1,600 deals and more than 50 MoUs and strategic agreements were signed – resulting in 35,000 extra visits.

Saudi presents trade partners with an unparalleled opportunity for sustained growth. Notably, the country achieved a significant milestone by welcoming 100 million tourists in 2023. Together with partners, STA is building knowledge of Saudi’s destination offerings to consumers, to address barriers to destination knowledge and welcome more visitors than ever to the Kingdom.

This boom has continued in 2024, with the first quarter of the year witnessing a double-digit growth increase in tourists compared to the same period last year – bolstering Saudi’s position as a leading global tourism destination and driving progress towards its revised target of 150 million visits by 2030.

The post SAUDI SHOWCASES SPECTACULAR SUMMER ESCAPES AT ARABIAN TRAVEL MARKET 2024 appeared first on NRI News.

SANDTON, SOUTH AFRICA: In the recent Global Trade Review (GTR) awards announcement, RMB (www.RMB.co.za) has been awarded as the Best Trade Finance Bank in Southern Africa and for the Best Trade Finance Deal in Africa for the Sovereign Trade Finance transaction – a collaboration with the Multilateral Investment Guarantee Agency (MIGA) and the Ministry of Economy and Finance for Côte d’Ivoire, to facilitate a trade-backed facility to support crucial trade-related initiatives.

Said Ben Bechet from RMB’s Trade and Working Capital, Head of Structured Solutions team: “While RMB has a proud history of supporting sovereigns on the continent, this is a first-of-its-kind facility for an African sovereign and brings a new, sizable liquidity pool into play. This transaction will pave the way for further short-term trade facilities across the continent to assist with developmental initiatives, critical projects and the importation of crucial goods such as food, fertilizer, and medicines alongside other resources.”

“Through the strong anchoring of the facility structure, positive Environmental, Social, and Governance (“ESG”) reporting track record and market support on this transaction, after deal closure and announcement last year, RMB has been working with the Ministry of Economy and Finance of Côte d’Ivoire to increase the size of the facility. This not only highlights the confidence the market has in the Republic of Cote’ D’Ivoire but also the positive impact the facility has made as a sustainable and cost-effective solution within the ministry’s funding mix. Although we have been recognized as the best Trade Finance bank in Southern Africa for the past 3 years, this best deal award demonstrates our reach and impact covers the entire continent.”

RMB has over the years, been providing various solutions to the African Sovereign market, from syndicated lending facilities, Green Bonds, Eurobonds, and more recently short-term structured solutions to provide budgetary support. This collaboration with MIGA continues RMB’s proud history of providing new and innovative solutions for our clients on the continent and further entrenches our position as one of the leading trade finance banks in Africa.

Mergan Naidoo, Head of Trade at RMB commented: “This deal was a demonstration of intentional collaboration with purpose. Africa is in desperate need of sustainable solutions that create value for the continent by accessing global credit appetite and packaging it in a simple, cost-effective, and, most importantly, meaningful way. This milestone transaction took time, perseverance, and ‘grit’ that forged relationships geared toward accelerated scalability, linear to the value returned to the continent.”

“We are delighted to have won both these awards, and that this is the 6th consecutive year we have won the award for Best Trade Finance Bank Southern Africa. These awards are proof of RMB’s trade finance capabilities and success in forging partnerships with insurance, guarantee and export credit agency providers to extend meaningful funding support to our clients across Africa. Collaboration with development financial institutions and multilaterals remains key to truly unlocking new opportunities to support our clients,” concluded Bechet.

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Organized by the Youth Empowerment and Research Association (YERA) (Regd.) in association with the Commerce and Management Association of India (CMAI) & Norbuling Rigter College (NRC), Bhutan, the conference is aimed at providing a meeting ground for the Intellectual and Professional experts and will be held at the Sherubtse College Auditorium at Kanglung in Bhutan. Delegates from countries like the USA, India, Nepal, Bangladesh, and Bhutan are participating in this conference.

The conference will touch upon subjects like economic sustainability, cultural heritage, sustainable social development, business start-ups, emergency management, digital economy, gender equality, artificial intelligence, sustainable energy, environment, trade, investment, and facilitating tourism in Asia. Experts are going to present research papers on these subjects.

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