Connect with us

Technology

China Surpasses USA and Becomes Largest Trading Partner of India in FY24 – Volza

Published

2 years ago

on

REHOBOTH BEACH, Del., June 5, 2024 /CNW/ — Volza — In a significant shift in global trade dynamics, China has surpassed the USA to become India’s largest trading partner in the fiscal year 2024 (FY24). This development underscores the evolving nature of international trade relationships and highlights the increasing economic interdependence between China and India. As businesses and policymakers navigate these changes, tools like Volza can play a pivotal role in understanding and optimizing trade strategies.

China Surpasses USA and Becomes Largest Trading Partner of India in FY24 – Volza

The Shift in Trade Dynamics

For several years, the USA held the position as India’s largest trading partner, with significant bilateral trade in goods and services. However, recent data from India’s Ministry of Commerce reveals that China has overtaken the USA, marking a pivotal change in India’s trade landscape.

Key Segment Driving the Change

Several factors have contributed to China surpassing the USA as India’s top trading partner:

Increased Import of Electronic Goods: China’s dominance in manufacturing and exporting electronic goods has led to a surge in imports from China to India. Products such as smartphones, laptops, and other consumer electronics have seen significant demand in the Indian market.Industrial Machinery and Equipment: The robust growth in India’s manufacturing sector has increased the demand for industrial machinery and equipment, much of which is sourced from China. This includes machinery for sectors such as textiles, chemicals, and automotive manufacturing.Chemical and Pharmaceutical Imports: China remains a key supplier of bulk drugs and intermediates to India’s pharmaceutical industry. The increasing import of these chemicals has further bolstered trade between the two countries.Infrastructure Projects: Several ongoing infrastructure projects in India have sourced materials and machinery from China. These projects, aimed at enhancing India’s infrastructure, have contributed to the rise in imports from China.

Key Factors Driving the Change

Increased Bilateral Trade Volume: The trade volume between India and China has been increasing significantly. In FY24, the total trade between the two countries surged due to higher imports from China, including essential commodities and intermediate goods used in Indian manufacturing.Competitive Pricing: Chinese products are often more competitively priced compared to those from other countries, making them attractive to Indian importers. This cost advantage has bolstered imports from China.Supply Chain Dynamics: The disruptions caused by global events such as the COVID-19 pandemic and the Ukraine conflict have led to changes in supply chain dynamics. China’s robust manufacturing and supply chain capabilities have allowed it to meet India’s demands more efficiently than other countries.Trade Agreements and Economic Policies: Both countries have engaged in trade agreements and economic policies that have facilitated smoother trade flows. India’s tariff structures and trade policies have also influenced the increase in imports from China.Increased Demand for Consumer Electronics: There has been a surge in demand for consumer electronics in India, many of which are imported from China. This sector’s growth has significantly contributed to the overall trade volume between the two countries.Raw Material Imports for Indian Manufacturing: Indian industries, particularly those in sectors like pharmaceuticals and automotive, rely heavily on raw materials and components from China. This dependence has driven up import numbers, contributing to the higher trade volume.Shift in Global Trade Patterns: Changes in global trade patterns, including the impact of the US-China trade war, have redirected some of China’s export focus towards other markets, including India.

Trade Figures at a Glance

According to the latest trade data, the bilateral trade between India and China reached a record high in FY24. The total trade value stood at approximately $118.4 billion, with imports from China accounting for the majority of this figure. In contrast, trade with the USA, while still substantial, lagged behind at around $118.3 billion.

Data is from Economics Times Ref Link: https://economictimes.indiatimes.com/news/economy/foreign-trade/china-overtakes-us-to-become-indias-top-trading-partner-in-fy-2023-24/articleshow/110049223.cms?from=mdr

Leveraging Volza for Informed Trade Strategies

Amidst these shifting trade dynamics, businesses can benefit from leveraging tools like Volza to gain deeper insights and make informed decisions. Here’s how Volza’s features can contribute:

Global Shipment Records Access: Volza provides users with access to comprehensive shipment records, allowing businesses to track product movements and understand global trade patterns. This data can help businesses identify emerging trends and make strategic decisions about trade partnerships.Competitor Analysis: By analyzing competitor shipment activities through Volza, businesses can gain a competitive edge. Understanding competitor strategies and market positions can inform pricing strategies, product offerings, and market entry decisions.Market Exploration: Volza’s market exploration features enable businesses to identify new markets and opportunities. With insights into demand trends and market dynamics, businesses can tailor their export strategies to target high-growth markets effectively.Real-Time Updates: Stay up-to-date with the latest trade data and trends through Volza’s real-time updates. Timely information allows businesses to adapt quickly to changing market conditions and capitalize on emerging opportunities.

Implications for India and Strategic Considerations

The rise of China as India’s largest trading partner in FY24 has several implications for the Indian economy. While this shift brings opportunities for economic collaboration, it also underscores the need for strategic trade policies and partnerships. India can leverage tools like Volza to:

Optimize Supply Chains: Track shipments, verify transaction details, and optimize supply chain efficiencies.Identify New Market Opportunities: Explore emerging markets and identify high-demand products using Volza’s data insights.Monitor Competitor Activities: Analyze competitor strategies and market positions to inform competitive strategies.

As India continues to navigate the evolving trade landscape, partnerships with platforms like Volza can provide the data-driven insights necessary to thrive in a rapidly changing global economy.

About Volza

Volza started in 2017 to help companies that trade goods internationally. They use advanced tools and data to show businesses new opportunities and potential problems. This helps import-export companies succeed in the competitive market. Volza provides detailed global trade information so businesses can make smart decisions. Learn more at Volza.

CONTACT: Arti Jain, marketing@volza.com, (302) 918-4610

View original content to download multimedia:https://www.prnewswire.com/news-releases/china-surpasses-usa-and-becomes-largest-trading-partner-of-india-in-fy24–volza-302164329.html

SOURCE Volza

Related Topics:
Continue Reading

Technology

ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

3 hours ago

on

October 25, 2026

By

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

Continue Reading

Technology

ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

3 hours ago

on

October 25, 2026

By

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

Continue Reading

Technology

Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event

Published

10 hours ago

on

October 24, 2026

By

RIYADH, Saudi Arabia, Oct. 24, 2026 /PRNewswire/ — The Organizing Committee of the Global Security & Technology Summit (GSTS) held an introductory session today at the Ministry of Interior’s headquarters in Riyadh, bringing together representatives from the government, private, and nonprofit sectors to introduce the program of activities leading up to the summit. The upcoming summit will be held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, under the supervision of HRH Prince Abdulaziz bin Saud bin Naif bin Abdulaziz Al Saud, Minister of Interior, and organized by the Ministry of Interior in cooperation with Tuwaiq Academy.

During the session, the Organizing Committee presented the comprehensive GSTS program, comprising three key components: GSTS Month, running from November 1 to 30, 2026; the Global Security & Innovation Fair (SAIF), taking place from November 24 to 26, 2026; and the main Summit, scheduled for December 18 to 20, 2026, in Riyadh. Together, these events form an integrated program designed to advance security and technology innovation, strengthen national capabilities, and foster international cooperation.

GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.

The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.

Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.

Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.

Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.

Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.

He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.

SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.

The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.

Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.

Registration for participants from within and outside the Kingdom is available at gsts.sa.

Click here to view the media kit. 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/global-security–technology-summit-unveils-month-long-program-of-activities-ahead-of-december-event-302918695.html

Continue Reading

Trending