India will work to maintain WTO guiding principles, says Piyush Goyal

India’s Commerce and Industry Minister, Piyush Goyal, stated that at the upcoming meeting in Abu Dhabi, India will advocate for upholding the guiding principles of the World Trade Organization (WTO). Goyal also mentioned plans to address the European Union’s Carbon Border Adjustment Mechanism (CBAM) both at the WTO and through bilateral discussions with the EU.

India’s Commerce and Industry Minister, Piyush Goyal, emphasizes that India does not rush into Free Trade Agreements (FTAs) unless they are equitable, balanced, and fair for the country. He highlights the changed ground realities in India and stresses the importance of thorough negotiations. Current FTA negotiations include the UK, Oman, and the European Free Trade […]

India hopes for a positive outcome at the upcoming WTO meeting in Abu Dhabi, urging other countries to listen to the concerns of developing nations. Commerce Minister Piyush Goyal highlighted the WTO’s role in setting trade rules but also acknowledged significant problems within the organization. The meeting will discuss various issues including agriculture, fisheries subsidies, […]

A global semiconductor consortium, including industry giants like Qualcomm and Intel, urges India to reconsider its plan for duties on cross-border digital e-commerce and data transfers. The World Semiconductor Council warns that such a stance could hinder India’s chip design industry and impact the global semiconductor workforce. The semiconductor sector is crucial for India’s economic […]

Smaller steelmakers in India seek a ban on iron ore exports after a 170% surge in sales to Chinese mills inflated local prices. Fearing industry shutdowns, lobby groups from major manufacturing states request government restrictions. Second-tier producers, constituting 40% of national output, face higher input costs than top mills. Any export limits could support iron […]

The government granted permission for traders to export 54,760 tonnes of onion to Bangladesh, Mauritius, Bahrain, and Bhutan until March 31st. The specified quantity can be exported within this timeframe, with the details currently being finalized. As of now, there is a ban on onion exports till March 31.

India has extended the timeline for duty-free imports of yellow peas by a month until April 2024 to cool down pulse prices. The duty on yellow peas was first implemented in November 2017 at 50%. India largely imports yellow peas from Canada and Russia. Additionally, the government has extended stock limits on tur and urad […]

India and the European Union are making progress in the Free Trade Agreement (FTA) negotiations, with a focus on investment protection and geographical indications. The complex FTA is unlikely to be concluded before the general elections in India and the European Parliament polls. The defence sector cooperation, including cyber security, is also being discussed.

India is set to become the largest member of the World Trade Centers Association, potentially surpassing China within five years. This growth reflects India’s increasing global presence, highlighted by active participation in major economic discussions alongside major economies. Currently, India has about 40 WTCA licensees, with many Indian entrepreneurs establishing successful companies in the US. […]

Before the pivotal 13th ministerial conference (MC13) of the World Trade Organization in the UAE next week, its 164 members are endeavoring to achieve consensus on matters like food security, e-commerce, fishing subsidies, and modernizing the 29-year-old global trade organization.