US to withdraw key proposal on digital trade

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.

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 […]

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 […]

n a communication to export promotion body APEDA, the Union Commerce Ministry has said “it has been decided to revise the price limit for registration of contract for export of basmati rice from USD 1,200 per tonne to USD 950 per tonne.” The government on August 27 decided not to allow exports of basmati rice […]

Several countries, including India, Switzerland, Russia, and Japan, have criticized the EU and the UK for their safeguard measures on steel imports, stating that they are inconsistent with global trade rules. The countries, speaking at the World Trade Organisation’s Safeguards Committee meeting, argued that the measures violated WTO rules.

India’s Commerce and Industry Minister, Piyush Goyal, met with his Saudi Arabian counterpart to discuss ways to enhance trade relations between the two countries. Goyal emphasized the potential for India to contribute to global supply chains and highlighted the opportunities available in India.

India’s government think tank, NITI Aayog, has started a study to develop a plan to reduce India’s trade deficit with China and align trading strategies with geopolitical risks. The study will analyze India-China trade trends, supply chains, and product categories where India has a competitive advantage. It will also examine barriers to Indian exports and […]

The Irish government is eager to strengthen its economic and cultural ties with India as part of its renewed Asia Pacific strategy, according to Deputy Prime Minister Micheal Martin. Ireland’s Asia Pacific Strategy, which aimed for €100 billion in trade with the region by 2025, has already surpassed this target two years ahead of schedule.