Imports

There is a lot of potential for expanding trade between India and the Latin American and the Caribbean (LAC) region, riding on the strong 20-fold increase to US$39 billion in 2018 from US$2 billion in 2002.

India and Russia have set an ambitious task to achieve an investment target of US$50 billion by 2025 with a special focus on cooperation in the high-tech sector, and emerging technologies.

Minister of Petroleum & Natural Gas Dharmendra Pradhan has discussed energy issues on telephone with the US Secretary of Energy Rick Perry.

Commerce & Industry Minister Piyush Goyal has emphasized the need for reciprocal market access for Indian products during meetings with Japan, USA, UK, China, France, Singapore, South Korea, Spain, Canada, EU, Mexico, Saudi Arabia, South Africa, Chile and Australia.

The Magnetic Resonance Imaging (MRI) market in India is projected to grow at a CAGR of 2.61% to reach US$197 million by 2024, from US$169 million in 2018.

The US government has approved sale of armed drones along with an offer of integrated air and missile defence systems to help India boost its military capabilities and protect shared security interests in the strategically important Indo-Pacific region.

The Federation of Indian Chambers of Commerce and Industry (FICCI) has called for a dialogue between India and the US to find a workable solution with regard to the termination of the Generalized System of Preferences (GSP) for Indian products.

Growth of India’s eight core sectors has slowed to 2.6% in April 2019 compared to 4.7% a month ago, government data showed on 31 May 2019.

The Competition Commission of India has approved the formation of a joint venture for consumer healthcare products in the country by British pharmaceutical giants GlaxoSmithKline (GSK) and Pfizer of New York.

A Government-constituted High-Level Committee (HLC) has looked into merger, acquisition and consolidation of Oil & Gas PSUs and the Joint Ventures.