India has called for the start of formal negotiations by WTO members to reform the dispute settlement body of the World Trade Organisation (WTO). These negotiations are essential as informal deliberations are preventing several nations from participating in the talks. The formal talks aim to arrive at a consensus by the 13th ministerial conference of […]
India calls for initiating formal talks on WTO’s dispute settlement body reforms
No stamp duty on SCI unit demerger
3 years ago
Acceding to the Centre’s request, the Maharashtra government has waived off stamp duty pertaining to the demerger of SCILAL, created by hiving off the non-core real estate assets of the Shipping Corporation of India (SCI), the official told ET. The stamp duty, according to industry estimates, could be in excess of ₹250 crore.
Govts need to collaborate to facilitate cross border trade: Piyush Goyal at G7 trade ministers meet
3 years ago
In the Group of Seven (G7) trade ministers’ meeting, Commerce and Industry Minister Piyush Goyal urged the participating countries to collaborate on a regulatory framework to ease the movement of supply chains and facilitate cross-border trade.
India and the UK have assessed the advancements in negotiations for a proposed FTA at the G7 trade ministers meeting in Osaka. Commerce and Industry Minister Piyush Goyal and UK Secretary of State for Business and Trade Kemi Badenoch reviewed the progress, aiming to bridge differences in issues like rules of origin and services. The […]
India produces on average between 25-27 million tonnes of pulses and imports 2-3 million tonnes annually. However, this year, the area sown to pulses during the kharif season has remained slightly lower at 122.57 lakh hectares as of September 22 due to a lack of rains in key producing states.
As part of its initiative to promote export of mangoes, the Centre invited the United States Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) inspector for pre-clearance of mangoes at irradiation facilities at Vashi, Nashik, Bengaluru, and Ahmedabad.
The government is giving coastal cruise services a push by offering IGST waiver to luxury vessels converting to coastal run and encouraging setting up of cruise terminals in ports. The near-term goal is to encourage tourists who would otherwise be boarding cruises from Dubai or Singapore to onboard cruises from Indian destinations
US to withdraw key proposal on digital trade
3 years ago
The United States has made a significant shift by withdrawing its support for a World Trade Organisation (WTO) initiative promoting free cross-border data flows without localization requirements. This change aligns with India’s stance of flexibility in digital policy and concerns about the potential dominance of a handful of e-commerce players.
Piyush Goyal to attend G7 meet in Japan
3 years ago
The Commerce and Industry Minister Piyush Goyal is set to participate in the G7 trade ministers’ meeting in Osaka on October 28-29. The meeting’s agenda includes discussions on supply chain resilience, trade sustainability, investment, and the upcoming World Trade Organization (WTO) ministerial conference. During this event, the minister will also engage in bilateral discussions with […]
India cuts floor price for basmati rice exports
3 years ago
The India government’s decision to reduce the Minimum Export Price (MEP) of basmati rice from $1,200 per tonne to $950 per tonne is expected to bring to exporters who were concerned about losing their global market share to Pakistan, a competitor in aromatic long-grain rice production. Indian rice exporters had temporarily halted purchases in multiple […]