“The drafting process deviates substantially from the accepted practice at the WTO,” India, South Africa and Egypt said, adding that the “format and pace of the discussions have made it challenging” for most developing countries to effectively participate, consult with capitals, present their views, submit comprehensive proposals and review the progress.
Require multilateral discussion under a WTO body, say India, South Africa and Egypt
The Indian government is assessing the feasibility of developing a Bulk Cargo transshipment hub in Atlanta Bay near Diglipur in the Andaman and Nicobar Islands. The hub is part of the Galathea bay project, worth Rs 44,000 crore, and is on the route from East and North East India to East and South East Asia, […]
1st phase of cargo terminal at western dock of Paradip Port likely to be operational in 2025
2 years ago
Jindal Steel & Power Ltd chairman Naveen Jindal on Thursday performed Bhoomi Puja for the construction of the 25-MT capacity dry bulk cargo terminal at the western dock of the port.
As local exotic flowers bloom, imports wilt
2 years ago
Among the much-in-demand blossoms, India’s production of chrysanthemums rose 136% from FY16 to 470.15 tonnes in FY22, while that of orchids was up 210% over the same period. On the other hand, India’s imports of fresh and dried flowers, flower buds, bulbs and tubers almost halved during FY15 to FY23.
Process afoot to capture MSME trade data
2 years ago
Anil Bhardwaj, secretary general, Federation of Indian Micro and Small & Medium Enterprises (FISME), said that product-wise data will help industry gain concessions in India’s free trade agreement negotiations and help improve its market access, policy making and competitiveness. This assumes significance as many of India’s FTAs have separate chapters on MSMEs. “We will get […]
India-Japan’s External Affairs Minister, S. Jaishankar, highlighted the growing partnership between the two countries at the 6th India-Japan Indo-Pacific Forum. The partnership includes various initiatives such as the Quad, supply chain resilience initiative, clean energy partnership, semiconductor supply chain partnership, and the Indo-Pacific Economic Framework for Prosperity (IPEC).
Govt needs to reduce import duties on inputs, capital goods to lessen need for export schemes: GTRI
2 years ago
India’s Global Trade Research Initiative (GTRI) suggests that reducing import duties on inputs and capital goods could help reduce the need for many existing export schemes. The think tank argues that many countries, including major trade partners like the EU and the US, view Indian schemes as subsidies and “punish” exporters by charging countervailing duties.
Bids for Galathea Bay project likely next year
2 years ago
Bids for the first phase of the ₹44,000 crore Galathea Bay project are expected to be invited early next year. The International Container Transhipment Port at Galathea Bay is part of the development of Great Nicobar Island and is crucial for India’s export import trade.
According to the Shipping Ministry, environmental clearance for the project came in November last year. Stage 1 forest clearance has been received and in-principle approval for Detailed Project Report (DPR) of the International Container Transhipment Port (ICTP) project is under finalization.
“Where onion consignment has been handed over to the customs before October 29, 2023… and is registered in their system/ where onions consignment has entered the customs station for exportation before this notification and is registered in the electronic systems of the concerned custodian of the customs station with verifiable evidence of date and time […]