India, Bangladesh, Egypt, Indonesia, and South Africa have expressed concerns over a recent World Trade Organization (WTO) draft on dispute settlement reform. The draft proposes changes such as including mediators during consultations and altering the composition and powers of dispute settlement panels. The countries argue that certain proposals, like limiting the possibility of appeal and […]
India, four other countries voice concern at WTO dispute settlement reform proposal
Ministers from around the world are gathering in Abu Dhabi for a World Trade Organization meeting to address key issues such as reforming the dispute system and cutting fishing subsidies. The WTO’s top court has been inactive for four years due to opposition from the US, leaving billions of dollars worth of trade disputes unresolved. […]
The agreement on interlinking of the instant payment platforms — UPI (India) and AANI (UAE) — will facilitate seamless cross-border transactions between the two countries. This follows the MoU on interlinking payment and messaging systems signed in July last year during PM Modi’s visit to Abu Dhabi. The agreement on inter-linking domestic debit/credit cards — […]
The timing of the report is curious as it comes ahead of the visit of several European Foreign Ministers and EU officials here next week, according to a source who did not wish to be named. Interestingly, European states are purchasing refined Russian crude from India.
India and the UAE signed a Bilateral Investment Treaty (BIT), witnessed by Prime Minister Narendra Modi and UAE’s President Sheikh Mohamed bin Zayed Al Nahyan. The treaty aims to facilitate investments in both countries, boosting confidence among investors and fostering foreign direct investment opportunities.
Officials said that India is in the process of developing new Harmonised System of Nomenclature (HSN) codes for specific rice varieties to facilitate exports of those traditionally not consumed domestically. Currently, all categories of non-basmati white rice are prohibited for export.
According to a presentation of the Agricultural & Processed Food Products Export Development Authority (APEDA), they are working on separate HSN codes for GI (Geographical Indications) rice varieties like Red rice, Black rice and Kalanamak rice.
The Indian government has added Mundra Port and Garhi Harsaru Inland Container Depot (ICD) to the list of terminals allowed for importing new vehicles, bringing the total number of ports and ICDs permitting new vehicle imports to 18. The Directorate General of Foreign Trade (DGFT) stated that the move aims to facilitate the import of […]
The IMF and World Bank caution that the Israel-Hamas conflict and Red Sea attacks threaten global economy. The war’s prolonged nature could worsen repercussions, especially on shipping through the Suez Canal. UN reports show a significant drop in traffic. IMF’s Georgieva urges for peace, fearing broader consequences. Despite uncertainties, IMF remains optimistic about the global […]
Increase in international prices of palm oil and the upcoming harvest of mustard crop are some of the other reasons that led to cut in the country’s cooking oil imports. According to SEA, import of cooking oil in January 2024–reported at little more than 12 lakh tonnes–is down by 28% compared with January 2023.