What is NSR? The Northern Sea Route (NSR), or the Northeast Passage (NEP), connects the eastern and western parts of the Arctic Ocean. While the Suez Canal route (depicted in blue in the image below) between Europe and Asia has …
Context India is one of the fastest-growing economies in the world. The country needs to expand its economic and strategic activities globally and GIFT City, an emerging global financial hub and India’s first operational smart city, has a pivotal role …
What is white shipping information? White shipping information refers to exchange of relevant advance information on the identity and movement of commercial non-military merchant vessels. Significance The seas around India abound in vessels of various types ranging from small inland …
About According to the procedure established by the WTO, the first step to resolve a trade dispute is engaging in the consultation process. If two trading partners having a dispute could not resolve at that level, one of them can …
What’s in the news? India’s overall exports (Merchandise and Services combined) in March 2023 is estimated to be USD 66.14 Billion. Overall imports in March 2023 is estimated to be USD 72.18 Billion. India’s overall exports (Merchandise and Services combined) …
Context India has given nine banks approval to open “vostro” accounts to help facilitate trade in rupees with Russia. What is a Vostro account? A Vostro account is an account that a domestic bank holds for a foreign bank in …