EU carbon tax to hurt global trade, not to stop carbon leakage, says think tank

The think tank in its report claimed that the real reasons the EU introduced CBAM are to protect uncompetitive local industries from cheaper imports; to earn considerable revenue to fund its budget; and to operationalize the trillion-dollar subsidy initiative. “If this disrupts world trade, the EU is okay. The EU needs this money to continue […]

Officials from Rishi Sunak’s team are in New Delhi to discuss and negotiate terms for the ongoing India-UK free trade agreement (FTA). The India-UK FTA talks began in January last year with Diwali 2022 set as the initial deadline by then prime minister Boris Johnson.

Addressing Infinity Forum 2.0 virtually at Gujarat Finance Tec-City (GIFT City), Union minister Piyush Goyal said the International Financial Services Centre (IFSC) at GIFT City has become a lynchpin in propelling India’s export-led growth. GIFT City will play a pivotal role in powering India’s exports to $2 trillion by 2030, and then onwards to up […]

Union Minister Piyush Goyal, addressing the 23rd Apparel Export Promotion Council (AEPC) Excellence Honours, underscored India’s burgeoning opportunities and global recognition for deeper engagement. Emphasizing India’s vast market, Goyal highlighted the unparalleled prospect presented by 1.4 billion people aspiring for a brighter future. He expressed gratitude for the chance to work in this ‘golden age,’ […]

India and the UK launched the talks for FTA in January 2022, with an aim to conclude talks by Diwali last year, but the deadline was missed due to political developments in the UK. There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights.

“Import of Yellow Peas… is “Free” subject to registration under the Import Monitoring system with immediate effect for the period up to March 31, 2024,” the Directorate-General of Foreign Trade (DGFT) said in a notification. MIP condition and port restrictions shall also not apply ot such Yellow Peas imports till then. India imported $0.14 million […]

AEPC has created an in-house Market Intelligence Cell to keep the track of trends in import demands forecasted for 2030 and the efforts have been taken at various fronts to hand-hold the industry. He added that so far the exports have been primarily concentrated to the EU and the US, AEPC has been taking various […]

Manufacturer and merchant exporters exporting specified 410 products will get 2% subsidy and all the MSME exporters will get 3%. Availability of pre and post shipment packing credit at competitive rates is important for the exports sector in order to compete internationally.

“Korea and Japan are live examples of what Aatmanirbhar Bharat should look like. Despite getting cheaper raw materials from other parts of the world, first they use up entire domestic availability of materials. They support each other and ensure that the industry doesn’t die,” Goyal, who is also textiles minister, said.