India, EFTA bloc trade deal talks at an advanced stage: Official

India and the EFTA have been negotiating the pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), since January 2008 to boost economic ties.

During a recent visit, US Trade Representative Kathreen Tai experienced nuanced messages on India-US trade through her banquet menu. The inclusion of Indian wild-caught shrimps, usually prohibited under US law due to concerns about sea turtles, signaled potential collaboration in overcoming regulatory challenges. The second message was represented by grapes served with Angoori Rasmalai, symbolizing […]

WTO member countries are unlikely to reach a consensus on reforming the dispute settlement system at the upcoming ministerial conference (MC). The differences between developed and developing countries over the issue pose a challenge.

India’s exports of goods and services showed a marginal increase of 0.4% to USD 765.6 billion in 2023, despite global economic uncertainties. Key contributing sectors included electronics, pharmaceuticals, cotton yarn, fabrics, ceramics, meat, dairy, poultry, fruits, vegetables, and information technology. Goods exports contracted by 4.71% to USD 431.9 billion, while services exports rose by 7.88% […]

The commerce department has begun the exercise with barriers such as registration requirements, higher pesticide levels and domestic standards, put up by Africa and 12 Central Asian countries, including Russia, and would then study the restrictions imposed by other trading partners.

New Delhi’s stand comes after the US sought more time to come up with a solution and said that only PSH can’t be a part of the agriculture package at MC13 and want discussions on issues like providing information on export restrictions at least 30 days prior to the notification, which is not feasible.

The Reserve Bank of India (RBI) has highlighted the challenges faced by Indian trade, citing a contractionary zone in PMIs for new export orders in December.The RBI also noted that retail inflation in India has gradually descended closer to the target, despite growth beating expectations. The central bank attributed India’s growth to strong domestic demand.

The ‘Trade Connect ePlatform’ will provide facilitation for new and aspiring exporters, information on various regulations to access markets, sectors, export trends, and easy access of benefits under Free Trade Agreements.

India usually exports around 250,000 to 300,000 metric tons of corn every month but in December its exports fell to around 30,000 tons, dealers said.