India, US mutually resolve 2 trade disputes: WTO

“The circulation of the two panel reports is a formality given that the two sides reached mutually acceptable solutions to the disputes in July. The panel did not issue any findings on the claims made by them in the respective disputes,” said an official.

The PHD Chamber of Commerce and Industry has written to the Central Board of Indirect Taxes and Customs calling for a one-off amnesty scheme to resolve issues that arose from a new provision in India’s goods and services tax rules. The provision was designed to protect government revenue from exporters making refunds under integrated GST […]

Thailand is unlikely to halt its rice shipments, as the country benefits from the suspension of Indian rice exports. Commerce Minister Jurin Laksanawisit has assured that the government will ensure a sufficient rice output for both domestic consumption and export. The country has shipped 4.8 million metric tonnes of rice in the first seven months […]

The Indian IT hardware industry wants the government to provide clarity on operational details for import licenses so they are able to make contingency plans, senior executives have said. The current lack of clarity includes details around quota, validity of licence, whether there is demand for single or multiple licences for different ports, and whether […]

CII national committee on EXIM Sanjay Budhia said that since all exports and imports and settlement of trade transactions under this arrangement may be denominated and invoiced in INR, this would also reduce dependence on the US Dollar and would address situations like scarcity of forex reserves apart from strengthening regional currency and trade.

India and the 27-nation bloc resumed negotiations on June 17 last year after a gap of over eight years on the proposed agreements on trade, investments and Geographical Indications (GI). India had started negotiations for a trade pact with the EU in 2007, but the talks stalled in 2013 as both sides failed to reach […]

Agricultural economist and NITI Aayog member Ramesh Chand has stated that India can export 20-22 million metric tonnes (MMT) of rice without any impact on domestic food security. The government has banned non-basmati white rice exports because the global demand had skyrocketed, and there was concern India could end up exporting over 30 million tonnes.

In a notification issued late night, the Directorate General of Foreign Trade (DGFT) gave “liberal transitional arrangements” for such imports and said that its August 3 notification on import restrictions will be effective from November 2023.

Commerce secretary Sunil Barthwal Friday said India and Peru have decided to resume negotiations for a proposed free trade agreement (FTA). “We have decided to proceed with the FTA negotiations. We would be working out the priority areas… Post September, we will start engaging,” he said on the sidelines of India-Latin America and the Caribbean […]