The commerce ministry plans to establish a center for negotiations to enhance skills in areas like free trade agreements and business deals, Commerce Secretary Sunil Barthwal announced on Tuesday. Speaking at the Indian Institute of Foreign Trade (IIFT), Barthwal emphasized the importance of negotiation skills and indicated that the center will also develop these skills […]
Looking at setting up centre for negotiations on FTAs, other biz deals: Comm Secy
Regulatory framework to push exports through e-commerce likely by September: Commerce Secretary
2 years ago
Commerce Secretary Sunil Barthwal aims to boost India’s e-commerce exports from $5 billion to $50-100 billion by September to catch up with China’s $300 billion. Hubs near airports and ports will support small producers with warehousing, customs, and returns processing. Involving DGFT, RBI, and ministries, the project targets $1 trillion in exports, focusing on ODOP […]
The Global Trade Research Initiative (GTRI) has raised concerns over UAE’s precious metals imports to India under the CEPA, urging an investigation due to negative impacts on domestic industries and potential revenue loss. GTRI highlighted issues of tariff arbitrage, money laundering possibilities, and the need for a review of the agreement.
India, Eurasian Economic Union bloc finalising broad contours, ToRs on proposed FTA: Official
2 years ago
India and the Eurasian Economic Union (EEU) are finalizing broad contours and terms of reference for a proposed free trade agreement. The five EEU members are Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. Chief negotiators have met and broad contours are being finalized. The scope and terms of reference are under stakeholder consultation in India and […]
India’s platinum imports surged in June as dealers exploited a loophole by registering gold alloys as platinum to avoid higher duties. This led to revenue loss for the government and distorted market prices. The situation highlights the need for a review of import rules to prevent such practices.
Next round of talks for proposed trade, investments agreement between India, EU likely in September
2 years ago
India had started negotiations for a trade pact with the EU in 2007, but the talks stalled in 2013 as both sides failed to reach an agreement on key issues, including customs duties on automobiles and spirits and the movement of professionals.
India is intensifying efforts to increase exports to Russia following Prime Minister Narendra Modi’s recent visit to Moscow. Despite a surge in Russian exports to India, reaching $61.43 billion out of a total $65.7 billion trade last fiscal year, Indian exports like pharmaceuticals and machinery have seen minimal growth. New Delhi seeks to address non-tariff […]
FM Sitharaman may focus on policy push to strengthen India’s supply chain prowess in Union Budget
2 years ago
BUDGET 2024 EXPECTATIONS: Ahead of the upcoming Budget, Finance Minister Nirmala Sitharaman, presenting for the seventh time, may introduce measures to strengthen India’s manufacturing sector and improve delivery routes. Key initiatives like Make in India, Production Linked Incentives, and National Logistics Policy are already boosting India’s global supply chain role.
India’s exports have shown positive growth in May and June, with Commerce and Industry Minister Piyush Goyal highlighting the role of the services sector in boosting outbound shipments despite global challenges. Merchandise exports rose by 9.1 per cent to USD 38.13 billion in May, and the first quarter of the current fiscal remained in the […]
India and Korea are set to hold the next round of negotiations to upgrade their existing Comprehensive Economic Partnership Agreement (CEPA) from July 17-19. The talks aim to strengthen economic cooperation between the two countries by addressing issues related to implementation, rules of origin, customs procedures, and data sharing. India has also raised concerns about […]