‘Electronics, services exports to contain slide in growth rate;overall trade may dip 2.6 pc in 2023’

In 2023, sectors which are expected to register growth include, aviation turbine fuels, motor gasoline, smartphones, basmati rice, motor car-medium size, turbo-jets, and auto components. Smartphone exports are expected to jump by about 93 per cent to USD 14 billion during the current calendar year as against USD 7.2 billion in 2022.

Prime Minister Narendra Modi and Haitham bin Tarik, the Sultan of Oman, on Saturday adopted a new ‘India-Oman joint vision, a partnership for future’ focusing on ten essential areas, heralding a new chapter in the strategic partnership between the two nations.

Prime Minister Narendra Modi and Oman’s Sultan Haitham bin Tarik on Saturday firmed up a vision document to significantly expand bilateral cooperation in around 10 key areas and pushed for concluding a trade pact as early as possible during their “productive” talks. Modi and Tarik also discussed the situation arising out of the Hamas-Israel conflict […]

India’s engineering goods exports faced a 3% year-on-year decline in November, totaling $7.85 billion, according to a report by the Engineering Export Promotion Council of India (EEPC). The dip is attributed to disruptions caused by the festive season in key engineering export regions, particularly in the northern and western parts of the country.

India and the UK are in advanced stages of discussions to address visa concerns for Indian professionals and customs duty concessions on British electric vehicles (EVs) as part of the proposed free trade agreement. An Indian delegation is currently in the UK to resolve these issues, along with concerns in the services sector and customs […]

India’s vegetable oil imports fell by 25% to 11.60 lakh tonnes in November 2023, compared to 15.45 lakh tonnes in the previous year, according to industry body SEA. The country’s crude vegetable oils declined by 26.34% to 9.77 lakh tonnes, while refined vegetable oils imports fell by 15.41% to 1,71,069 tonnes.

India appealed against WTO’s ruling on import duties for information and tech products, contesting the decision following the EU-initiated dispute. The challenge highlights legal interpretations and seeks review by the non-functional appellate body due to member disputes. Despite bilateral talks, India’s move signifies addressing the WTO’s findings on its import duties.

India on Thursday appealed against a decision by the dispute settlement body of the World Trade Organization (WTO) that had ruled against New Delhi’s imposition of tariffs on mobile phones and electronic components, among other ICT goods. The case was brought by the EU and a WTO panel in April said that India had violated […]

The statement comes after revenue secretary Sanjay Malhotra and US Treasury under-secretary for terrorism and financial intelligence Brian Nelson co-chaired the India-US Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) Dialogue in the capital.