PMO likely to review Red Sea Crisis soon

The Prime Minister’s Office (PMO) is expected to conduct a review of the potential impact of the Red Sea crisis on trade, as exporters anticipate that trade in March and April may be affected. According to an official, there hasn’t been any adverse impact on exports thus far due to the crisis. However, traders foresee […]

The text circulated on January 29 includes all elements, but the divergent views of the US and EU need to be considered. The US wants market access reforms, while the EU opposes any changes in market access.

As per the ministry, the government has made concerted efforts to control the high external sector vulnerability inherited from the UPA government. The average current account deficit to gross domestic product has come down significantly to 1.1% between FY15-33, relative to an average of 2.3% of GDP between FY05-14. The ministry highlighted that India was […]

The Standing Committee on Commerce also recommended that a robust mechanism to support and equip MSMEs to counter the adverse effects of CBAM must be implemented on priority basis.

The Indo-Canada Chamber of Commerce (ICCC) highlighted the progress of its India Mission 2024, led by President Murarilal Thapliyal, in enhancing trade relations between India and Canada. The delegation initiated discussions in Delhi, engaging with policymakers and business leaders at various forums.

China has extended anti-dumping duties on imports of o-chloro-p-nitroaniline originating in India for another five years. China first imposed the duties for five years as of February 12, 2018 at rates of 31.4-49.9 per cent. According to the MOFCOM website, from 1995 to 2023, India initiated 336 anti-dumping investigations against China.

India is nearing the completion of a groundbreaking trade agreement that may result in several European nations investing up to $100 billion over a span of 15 years. The European Free Trade Association, consisting of Switzerland, Norway, Iceland, and Liechtenstein, has pledged to make investments in India as part of a trade deal currently in […]

The government on Wednesday said it has directed the Export Credit Guarantee Corporation (ECGC) to maintain a moratorium on insurance rates for Indian exporters in the wake of the Red Sea crisis. Minister of State for Commerce and Industry Anupriya Patel said that the ECGC continues to provide insurance coverage to exporters. She said that […]

India is engaging with the EU on the Carbon Border Adjustment Mechanism (CBAM) and preparing the domestic industry to comply with the norms. It opposes non-trade issues at the WTO. India insists that measures to combat climate change should not violate WTO rules or restrict international trade.