India's bilateral trade with Israel, Austria, Eurasia, Gulf on the decline
The Eurasian countries include Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan, and the Gulf countries include Kuwait, UAE, Saudi Arabia, Oman, Baharain and Qatar.
India's bilateral trade with Israel, Austria, Eurasian countries such as Russia, Kazakhstan and Gulf countries has been declining over the last three years. In 2015-16 the bilateral trade between these nations declined by as high as 34.06%, while in 2014-15 it declined by 11%.
The Eurasian countries include Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan, and the Gulf countries include Kuwait, UAE, Saudi Arabia, Oman, Baharain and Qatar.
In 2013-14 bilateral trade between these countries stood at US$1,64,498.34, according to Directorate General of Commercial Intelligence and Statistics (DGCIS). While in 2014-15 the bilateral trade between these countries declined to US$1,48,185.05 million, and further declined $1,10,529.81 million in 2015-16.
“Currently, the Department of Commerce is negotiating a Free Trade Agreement (FTA) with Israel. The eighth round was held in Israel from 24-26 November, 2013 wherein discussions took place on market access in goods, rules of origin, custom procedures and trade in services,” said Commerce and Industry Minister Nirmala Sitharaman in a written reply in Rajya Sabha on Wednesday.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
02:34 PM IST