Daily News - Monday, 28 April 2025

Closure of Attari Border Hits Afghan Dry Fruits Supplies (The Economic Times)

Pistachio prices have risen nearly 20%, reaching ₹2,600-2,700 per kg (up ₹400/kg), after India closed the Attari-Wagah border post the April 22 terrorist attack, disrupting 90% of India’s dried fig and heeng imports, 50% of saffron, dried apricots, and munakka imports from Afghanistan. Almond prices have shot up 40% since June last year due to crop declines in California and Australia, raisin prices are up 35% year-on-year due to low domestic production, and a broader 15-20% price increase for Afghan-origin dry fruits and spices is expected. Afghanistan’s $500 million annual trade with India is severely hit, and Afghan traders are now exploring costly alternative routes like Chabahar port and air transport via Kabul to maintain supplies. 

‘Bilateral trade agreement: India seeking parity treatment from US on tech access' (The Indian Express)

⁠India will push strongly for the US to ease export controls on high-technology sectors like telecommunications equipment, biotechnology, AI, quantum computing, and semiconductors during negotiations for the proposed bilateral trade agreement (BTA), seeking “parity treatment” similar to that granted under AUKUS to Australia and the UK, where 80% of defence exports no longer require individual licenses as of September 1, 2024. Led by Additional Secretary Rajesh Agrawal, India wants to use the BTA to resolve long-standing restrictions on tech access, while the US is prioritizing greater market access for its farm goods, e-commerce, data sharing, and IPR protections. India is also leveraging its Quad membership (with the US, Australia, and Japan) to demand concessions and expand the existing US-India high-technology partnership beyond civil nuclear energy. 

⁠Indirect Indian exports to Pakistan at $10 bn: GTRI (Financial Express)

Although direct trade between India and Pakistan is minimal, Indian goods worth $10 billion annually reach Pakistan through indirect routes via Dubai, Singapore, and Colombo, with goods relabelled to show a different country of origin to bypass restrictions, according to Global Trade Research Initiative (GTRI). Pakistan recently suspended all remaining trade with India after India scaled down diplomatic ties and the Indus Water Treaty, following earlier disruptions like the 2019 MFN withdrawal and 200% import duties post-Pulwama attack. Currently, only limited exports such as pharmaceuticals and chemicals continue indirectly, while traditional imports like fruits, nuts, leather, textiles, and surgical goods have sharply declined. 

Chinese suppliers tap Indian makers (Financial Chronicle)

⁠Indian exporters are receiving increased orders from US buyers routed through Chinese suppliers, who, facing a 245% US tariff on Chinese goods, are charging a 3-5% commission to retain their customer base until trade uncertainties ease. Key sectors benefiting include engineering goods, textiles, leather, and footwear, as India enjoys a lower basic tariff of 10% and relatively lenient US treatment compared to Southeast Asian countries where China has heavy investments. However, while Chinese discounts on raw materials and machinery help Indian manufacturers, there is concern about potential dumping of finished products amidst limited domestic production capacity to fully meet the surge in demand. 

INDIAN PROJECTS TO GET $5-BN LOANS, GRANTS FROM ADB (Financial Chronicle)

The Asian Development Bank (ADB) has committed around $5 billion in loans and grants for Indian projects, including $4.251 billion in sovereign loans and grants, $575 million in non-sovereign support, and $2.048 billion in project co-financing. Major commitments include $794 million for the Amaravati Inclusive and Sustainable Capital City development, $500 million for Maharashtra’s medical education system, $64 million for education infrastructure and a skills hub in Shillong, and $100 million for SK Finance to support MSME loans. Additionally, ADB has extended two non-sovereign loans of $43.3 million to expand electric bus services in Haryana and Odisha.