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 […]
India and Australia set for next CECA talks in November to expand trade deal scope
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 shipping ministry planned to launch a non-banking finance company under the Sagarmala initiative to address the financing needs of the shipping and shipyard sectors. Awaiting finance ministry approval, this NBFC aimed to provide competitive financing options to these sectors, which faced challenges in obtaining bank loans and lacked infrastructure status.
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.
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.
The project is to be developed by the Vadhavan Port Project Ltd, a special purpose vehicle formed by the Jawaharlal Nehru Port Authority and the Maharashtra Maritime Board. Prime Minister Narendra Modi is likely to visit Maharashtra on August 30 for its foundation stone laying ceremony.
JNPA to scale up its container handling capacity to 10 million twenty TEU by April next year
1 year ago
Jawaharlal Nehru Port (JNPA) is set to expand its container handling capacity to 10 million TEUs by April next year, announced Union Minister Sarbananda Sonowal. The port will also develop new liquid cargo berths under a Public-Private Partnership model, increasing its capacity to 11 MMTPA. Recent developments include the signing of MoUs, increased revenue from […]
At the CII India Africa Business Conclave, Commerce secretary Sunil Barthwal said that the African Continental Free Trade Area (AfCFTA) has identified four potential sectors – automobiles, agriculture and agro-processing, pharmaceutical and transportation and logistics- where the two sides can collaborate.
An inter-ministerial panel has approved investment proposals in the electronics manufacturing sector, including some from Chinese companies, amidst border tensions. Prominent approvals include Luxshare, a vendor for Apple, and a JV between Bhagwati Products (Micromax) and Huaqin Technology. The move follows pressure from the industry to diversify supply chains. The panel is cautiously opening up […]