India’s maritime trade is not facing a container shortage, with the government tackling disruptions post-Red Sea crisis, according to Union Minister Sarbananda Sonowal. Due to ships diverting around the Cape of Good Hope instead of the Suez Canal, a times have increased by 35-40 percent, causing vessel congestion and delays at global ports. Efforts are […]
No acute shortage of containers: Shipping Minister Sarbananda Sonowal
Commerce and Industry Minister Piyush Goyal criticized the domestic industry at a Confederation of Indian Industry (CII) event on Tuesday for demanding protectionist measures that could obstruct Free Trade Agreements (FTAs) with the United Kingdom and the European Union. Goyal emphasized that FTAs are a reciprocal arrangement and expressed concern that reluctance to offer tariff […]
Goyal rules out rethink on Chinese investment norms
9 months ago
Commerce minister Piyush Goyal confirmed that India is not reassessing its stance on easing Chinese investment norms, despite recommendations from the Economic Survey. He also mentioned that India will consider the European Union’s proposal to implement its own carbon tax system in response to the EU’s carbon border adjustment mechanism (CBAM).
Jindal Stainless (JSL) considered using the breakbulk method for shipping due to high container costs and unavailability. The company aimed to export 10-15% this fiscal year, focusing on key markets like the US and Europe. JSL tested breakbulk shipments and received positive feedback, planning to expand its use in the coming quarter.
Pulses import jumps 90 pc in 2023-24 to 47.38 lakh tonnes to meet domestic demand: Govt
9 months ago
India’s pulses import surged 90% to 47.38 lakh tonnes in 2023-24, satisfying local demand. Domestic production climbed to 244.93 lakh tonnes. The agriculture budget grew significantly, and MSPs for crops were set with a minimum 50% margin over production costs. Financial support to farmers continued under the PM-KISAN scheme.
FTA review talks with Japan, Korea, Asean moving slow, but India pursuing: Piyush Goyal
9 months ago
The India-Korea agreement, dubbed as comprehensive economic partnership agreement (CEPA), was operationalised in January 2010. India has sought greater market access for certain products like steel, rice, and shrimp from South Korea to boost exports of these goods. India has also raised concerns about the growing trade deficit between the two countries. India’s exports to […]
DTDC Express partnered with Skye Air Mobility to launch last-mile drone-based deliveries. It started with a successful 7.5 km delivery from Bilaspur to Gurgaon sector 92. CEO Abhishek Chakraborty highlighted the milestone partnership’s role in reshaping last-mile logistics amid digitalisation and changing consumer behaviors. The eco-friendly drone delivery aims to reduce carbon emissions and traffic […]
Govt puts Concor privatisation on backburner
9 months ago
“The government is unlikely to push Concor’s strategic sale. There are some concerns from Railways Ministry as also investors,” the official said.
As per a public notice issued by the Directorate General Of Foreign Trade (DGFT), exporters will now get additional time to submit installation certificates for imported capital goods, reducing pressure on businesses to meet timelines.
The newly elected Labour government of the UK announced the resumption of FTA negotiations with India, emphasizing economic growth and job creation. Business and Trade Secretary Jonathan Reynolds laid out plans for international trade deals and a trade strategy that aligns with the industrial strategy, economic security, and net zero goals.