India’s services sector exports’ basket can expand dramatically: Suresh Prabhu

“Services exports can create huge employment, as it is more labour-intensive than the manufacturing sector, which is becoming more and more mechanised. The services sector will always involve the human angle… and that can boost employment,” Suresh Prabhu said.

New Delhi has already raised its concerns on the European Union’s carbon border adjustment mechanism (CBAM) at the World Trade Organisation (WTO). “Definitely, we are discussing those NTBs and we are also discussing how to find a good solution, how to find a platform where we can coordinate on these issues and we can understand […]

India plans to hold bilateral talks on free trade agreements with the United Kingdom, the European Union and Canada on the sidelines of a G20 meeting next week, a top trade official said on Friday.

“Here is an issue, which is a serious security matter. Even Tesla car is not allowed anywhere near where Xi Jinping (President of China) is present. Because they’re very conscious of the risks of security, even for a car being present in the vicinity of the premier of China. India also has to protect ourselves […]

​While New Delhi has agreed to slash tariffs on British cars and scotch whisky, the UK is willing to relax some visa rules for Indian professionals. Nevertheless, with immigration a politically sensitive subject in the UK, a British official indicated any visa relaxations are likely to be limited. The two governments hope to wind up […]

India is reportedly in talks with Russia to import wheat at a discounted price to counter surging global prices and tackle food inflation. The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices. Last time India imported a significant amount of wheat was in 2017, when private […]

On the wider bilateral partnership, Doraiswami expressed similar optimism around an “obvious synergy” across different sectors.

With this, Russia has become India’s second largest import source during the first four months of this fiscal. The imports were USD 10.42 billion during April-July 2022. From a market share of less than 1 per cent in India’s import basket before the start of the Russia-Ukraine conflict, Russia’s share of India’s oil imports rose […]

It asked for upgrading domestic systems, in cases where Indian products are rejected due to quality issues; and retaliating if unreasonable standards or rules continue to obstruct exports from New Delhi. “Many of India’s exports suffer due to time taking prior registration requirements and unreasonable domestic standards/rules in many countries. India must talk to partner […]