India’s Commerce and Industry Minister Piyush Goyal criticised the previous governments for not doing enough stakeholder consultations on free trade agreements, saying the India-ASEAN FTA was “most ill-conceived” and unfairly favoured imports. Goyal also said India opened its markets to Japan and Korea but has not seen an increase in exports to those countries.
India-ASEAN free trade agreement most ill-conceived: Piyush Goyal
India’s decision to ban the export of many varieties of rice has led to fears that food inflation will rise and that countries in the Global South will be most affected due to already high debt levels and inflated food and fuel bills. The ban by the world’s biggest rice exporter has brought chaos to […]
Brussels has insisted that such items should be treated at par with new ones and be eligible for tariff concessions, while New Delhi has concerns it will lead to dumping of e-waste and impact India’s domestic manufacturing.
Tugs, used to pull and push big cargo ships, and guide them into and out of a port, are operated by bunker oil but the port plans to introduce electricity operated green tugboats. Tugboats are also used as standby vessels for safety and emergency requirements.
Commerce and industry minister Piyush Goyal visited the UK on July 10-11 where he discussed with UK’s Secretary of State for Business and Trade, Kemi Badenoch and Minister of State for International Trade, Nigel Huddleston, ways to make progress on the FTA negotiations and wider trade and investment opportunities for the UK and India.
Under the Market Access Initiatives (MAI) Scheme, startups and new exporters have been made eligible for airfare reimbursement to participate in overseas events while the ceiling for this incentive for existing exporters has been raised 20%.
India’s engineering exports declined by 11% YoY to $8.53bn in June 2023, with shipments to the US, the EU, and China leading the drop, according to the Engineering Exports Promotion Council of India (EEPC). Exports to the US fell to $1.45bn, a 12.5% dip; to the EU slumped by 16.2% to $1.51bn and to China […]
Gautam Adani meets Sri Lankan President Wickremesinghe, discusses Colombo port, other projects
3 years ago
Adani Group Chairman Gautam Adani held a meeting with visiting Sri Lankan President Ranil Wickremesinghe to discuss multiple projects in the island nation. The discussions included the development of the Colombo Port West Container Terminal (WCT), the industrialist said.
India has removed retaliatory customs duties on eight US products. Among these were almonds, walnuts, and chickpeas as the country looks to resolve its trade disputes with the US. Retaliatory charges had been imposed on 28 US products in response to America’s decision to levy extra import taxes on certain steel and aluminium products. The […]
Around 200,000 tons of rice is being loaded at various Indian ports, and this quantity would be allowed to move out, said B.V. Krishna Rao, president of the Rice Exporters Association. But the government should also allow exporters with valid LCs to ship out their cargoes, Rao said.