Vietnam has set ambitious economic targets for 2026, aiming for GDP growth of more than 10 per cent, supported by strong export performance despite higher US tariffs. Recent trade data shows that while tariffs slowed growth at times, they did not stop Vietnam’s export momentum. In 2024, Vietnam’s textile, clothing, and footwear exports crossed $71 billion, growing by 10–11 per cent year on year. Textiles and garments alone earned over $44 billion, with the United States accounting for about 40 per cent of the total. For 2025, Vietnam set export targets of $48 billion for textiles and
Commerce and Industry Minister Piyush Goyal stated that India's trade partnership with Australia continues to anchor economic engagement in the Indo-Pacific as broader CECA discussions progress. From January 1, 2026, Indian exports would be duty-free across all Australian tariff lines, opening up new opportunities for exporters and labour-intensive sectors. On the third anniversary of the India-Australia Economic Cooperation and Trade Agreement, Goyal stated that the agreement had progressed beyond its intent to provide specific economic outcomes. India's exports to Australia increased
Vietnam Electricity Group has signed a €76 million credit agreement with the French Development Agency to build the Bac Ai pumped-storage hydropower facility in Khanh Hoa province, a significant step towards increasing its energy storage capacity. The facility is the country's first pumped-storage project and is intended to support a power system that is increasingly reliant on renewable energy. The Bac Ai plant will have an installed capacity of 1,200 MW, generated through four 300 MW turbines, for a total investment of around VND 21.1 trillion. The Prime Minister has given in-principle
India concluded 2025 with record export performance, landmark free trade agreements, and an accelerated digital trade push, according to Union Commerce and Industry Minister Piyush Goyal. Goyal highlighted Prime Minister Narendra Modi's leadership for driving sustained progress across global trade, startups, and business reforms. India's overall exports reached an all-time high of USD 825.25 billion in 2024-25, representing a 6.05% rise over the previous year. Services exports were USD 387.54 billion, with substantial growth in rice, pharmaceuticals, marine products, engineering goods, and
India and New Zealand have concluded a landmark Free Trade Agreement that will make Kiwi apples, kiwifruit, and wine more affordable to Indian customers while providing New Zealand exporters a significant advantage over competitors such as the United States. Prime Minister Narendra Modi and New Zealand Prime Minister Christopher Luxon announced the deal after just nine months of negotiations, resuming talks that had been delayed for nearly a decade. The agreement will eliminate or sharply reduce tariffs on around 95% of New Zealand's exports to India. More than half of the products will be
Piyush Goyal, Union Minister for Commerce and Industry, said India's maritime exports had grown by about 20% in the previous seven months, demonstrating the sector's resilience in the face of ongoing global uncertainty. Responding to queries in the Lok Sabha, the Minister claimed that the increase was achieved despite trade hurdles, such as anti-dumping duties imposed by some nations on Indian fish export establishments. He noted that sustained government efforts are focused on diversifying fish exports to unlock higher growth and reduce dependence on limited markets. Goyal informed the Ho
The Union government aims to boost India's export ecosystem through the Export Promotion Mission, with a financial commitment of ₹25,060 crore from FY 2025-26 to FY 2030-31. The proposal, approved by the Union Cabinet on November 12, is intended to boost global competitiveness for micro, small, and medium enterprises, new exporters, and labour-intensive industries that are under increasing pressure in foreign markets. The Commerce Ministry has highlighted the difficulties faced by textile exporters due to their reliance on the United States, emphasising that tariff-related hurdles limit
Gems and jewellery exports increased by over 20% year on year to $2.51 billion in November, owing to increasing international demand and favourable currency movements. In rupee terms, exports increased by more than 25%, indicating strong trade activity throughout the month. Imports, on the other hand, increased at a quicker rate, jumping 36% to $1.89 billion, owing primarily to frontloaded purchases by dealers and manufacturers ahead of peak demand. From April to November, cumulative exports stayed nearly unchanged at $18.87 billion, indicating a marginal increase, while imports rose about
India has reached a significant milestone in its startup journey, with the number of government-recognized firms now exceeding two lakh, according to Union Commerce and Industry Minister Piyush Goyal. He praised the achievement as a reflection of India's strong innovation culture, expressing confidence that this momentum will continue to fuel economic growth in the coming year. More than 44,000 firms were recognised this year alone, the highest annual total since the Startup India initiative's launch in 2016. The increasing ecosystem has had a tremendous impact on job creation, with acknow
The World Bank has granted over $600 million to finance ambitious clean air initiatives in Haryana and Uttar Pradesh, aimed at reducing pollution in one of the world's most affected regions. The financing is estimated to have an impact on air quality outcomes for over 270 million people living in the Indo-Gangetic Plains and surrounding regions. Haryana will get a $300 million loan for its Clean Air Project, which aims to boost the state's multi-sector action plan to reduce emissions from transportation, agriculture, industry, and developing urban areas. The program aims to increase air qu