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India Iran Trade Soars: India's bilateral trade with Iran in 2022-23 was $2.33 billion. This was a 21.76% increase year-on-year. India's exports to Iran were $1.66 billion, which was a 14.34% increase year-on-year. India's imports from Iran were $672.12 million, which was a 45.05% increase year-on-year. .

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Indian Economy Soars

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Wooden Statues of Indian Idols demand Booms in western countries: The Bastar Nandi Statue is a majestic and imposing stone sculpture located in Bastar district in the Indian state of Chhattisgarh. This majestic stone sculpture is believed to be over 500 years old and is a revered symbol of the local tribal culture.It is believed that the statue was made by the local tribesmen to serve as a reminder of their faith and devotion to their deity. The statue stands out for its exquisite craftsmanship and intricate details.The Bastar Nandi Statue is a symbol of peace, harmony, and unity for the local people. It is often used as a marker for important events and ceremonies. It is also an important landmark for visitors and tourists from all over the world.

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Bamboo Crafts and Arts from Bastar Chattisgarh trade Soars: Bastar art is a traditional tribal art form that originated in the Bastar district of Chhattisgarh, India. It is an ancient art form that has been practiced for centuries. Bastar art can be divided into four main categories: Woodwork, Bamboo art, Soil art, Metal arts. Bastar bamboo art has many symbolic meanings. For example, it has been said to represent the unity of all living things. Attractive furniture, mats, baskets, home utilities, office utilities are few of the pieces of work of Bastar tribes. The Bamboo craft is practiced in Narayanpur, Bastar, Bilaspur and Gariyabandh district of the State.

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*Buoyed by the Production Linked Incentive (PLI) scheme and free trade agreements with the UAE and Australia, the industry expects India’s exports of manmade fibre (MMF) textiles to increase 75% to $11.4 billion in 2030 from around $6.5 billion in 2021-22.

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India's e-commerce exports likely to rise to $400 bn by 2030 : Indian exports have been impacted by a slowdown in global growth, especially in the advanced economies of the West. These countries are also seeing tightening of interest rates due to nagging inflation, leading to a slowdown in business and trade. Meanwhile, conflicts in Ukraine and Israel have push oil prices higher, leading to greater inflationary pressures.

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Foreign Trade Policy for merchandise Exports: The FTP 2023 encourages recognition of new towns through “Towns of Export Excellence Scheme” and exporters through “Status Holder Scheme”. The FTP 2023 is facilitating exports by streamlining the popular Advance Authorization and EPCG schemes, and enabling merchanting trade from India.

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