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.
India’s four-week platinum imports surpass 2023 total as gold shown as platinum
Next round of talks for proposed trade, investments agreement between India, EU likely in September
1 year 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
1 year 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 […]
Billionaire Gautam Adani’s company, Adani Ports, plans to build a new port in Da Nang, Vietnam, after receiving initial approval from the Vietnamese government. This project aims to enhance trade infrastructure with container terminals and versatile berths for various cargoes. Adani Ports, already operating in Israel, Sri Lanka, and Tanzania, seeks to boost India’s maritime […]
Ports, Shipping and Waterways Ministry approves Rs 46.47 lakh dredged sediment reuse project
1 year ago
According to a statement by the ministry on Saturday, the project has been sanctioned at an estimated cost of Rs 46,47,380. The ‘Valorization of dredged sediments’ is the reuse of sediments as raw material for civil engineering and other purposes. It can be a sustainable solution to reduce the strain on natural resources and eliminate […]
Commerce and Industry Minister Piyush Goyal will participate in bilateral meetings with G7 nations’ counterparts in Reggio Calabria, Italy, during the G7 Trade Ministers’ Meeting outreach session on July 16-17. Discussions will focus on enhancing trade, resolving issues, and strengthening economic cooperation. Goyal aims to showcase India’s trade and investment opportunities, emphasizing global trade vision, […]