Nirmala Sitharaman met Singapore President Tharman Shanmugaratnam and Prime Minister Lawrence Wong to strengthen bilateral ties. Accompanied by other Indian ministers, they discussed enhancing cooperation in digitalisation, skill development, sustainability, and other areas, ahead of Prime Minister Narendra Modi’s expected visit next month.
Finance Minister meets Singapore President & PM to accelerate bilateral pact
The Solvent Extractors Association of India has asked the government to revisit its ban on de-oiled rice bran exports, pointing to severe underutilisation of processing plants in eastern India. The association cited the challenges faced by processors in West Bengal and raised concerns about quality control and adulteration in rice bran oil.
In 2023-24, India’s exports to Bangladesh were higher than many of the world’s leading economies like Japan, Germany and France. However, the ongoing socio-political turmoil has impacted economic activities in Bangladesh and is very likely to adversely affect its bilateral trade relations with India.
REC to provide Rs 45,000 cr finance to JNPA
2 years ago
REC Ltd agreed to finance up to Rs 45,000 crore for various Jawaharlal Nehru Port Authority (JNPA) projects, which include the Vadhavan Port development. The memorandum of understanding was signed by REC Executive Director Rahul Dwivedi and JNPA Chairman Unmesh Sharad Wagh, with Union Minister Sarbananda Sonowal present to witness the agreement outlining this partnership.
India, Aus hold 10th round of CECA talks
2 years ago
India and Australia engaged in their tenth round of negotiations for a Comprehensive Economic Cooperation Agreement from August 19-22 in Sydney. Discussions focused on goods, services, digital trade, and other areas, with the aim of narrowing differences. The next round of talks will be held in November, according to the commerce ministry.
The tenth round of India-Australia CECA negotiations took place from August 19 to 22 in Sydney. Discussions covered a variety of areas including goods, services, digital trade, government procurement, rules of origin, and agri-tech. Both parties engaged in intense dialogues on these subjects to achieve clarity and understanding, which is expected to help in bringing […]
Union ministers Nirmala Sitharaman, S Jaishankar, Piyush Goyal, and Ashwini Vaishnaw will attend the India-Singapore ministerial roundtable to enhance economic ties. Singapore has been a key foreign investment source for India and an important trade partner.
The United States emerged as India’s leading trading partner in early 2024, although the country experienced a record trade deficit of $41.6 billion with China. India’s merchandise exports increased by 5.41%, led by sectors such as iron ore and pharmaceuticals, while services exports grew by 6.9% to $178.2 billion, says GTRI.
Govt invites proposals to set up e-commerce hubs
2 years ago
India has released draft plans to create e-commerce export hubs, aiding small producers in selling via aggregators. The hubs will include packing, storing, and customs stations. The goal is to provide predictability, quick turnaround, and flexible payments for exports. Unique QR codes will be used for tracking and customs processes.
The government invited proposals to set up e-commerce export hubs (ECEH) in India. The initiative aims to streamline export processes through e-commerce, supporting small producers and aggregators. The project includes warehousing, customs clearance, and returns processing, targeting to increase exports significantly in the coming years.