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Economy News

News on Indian Economy and Sectors, which have impacts in the market.

India and Namibia extend bilateral trade agreement

12-Aug-26 16:04Hrs IST

The Fourth Session of the India-Namibia Joint Trade Committee (JTC) was held this week. Both countries emphasized the need to enhance bilateral trade by moving beyond raw materials and focusing on value addition in Namibia. They aim to establish clear mechanisms with specific timelines and responsibilities. Bilateral merchandise trade increased to USD 592.94 million in 2025-26 from USD 568.40 million in 2024-25, with India's exports at USD 349.09 million and imports at USD 243.85 million. Trade in services rose by 7.34 percent to USD 380 million in 2024. India's engineering exports surged by 124.06 percent to USD 30.24 million, mainly from motor vehicles and components, while pharmaceutical exports reached USD 36.50 million, making India Namibia's second-largest pharmaceutical source with a 16.4 percent share.

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