The Carriage of Goods by Sea Bill, 2024, and the Bills of Lading Bill, 2024, were introduced in the Lok Sabha to modernize maritime cargo laws and bills of lading handling. The bills aim to align Indian regulations with international standards and ensure uniformity. Key changes include updated legal frameworks and transferring rights and liabilities […]
Government introduces Carriage of Goods by Sea Bill, Bills of Lading Bill in Lok Sabha
Saugata Roy (TMC) opposed the introduction of the bill saying that the Indian Carriage of Goods by Sea Act, 1925, has been serving its purpose for the past 100 years and The Carriage of Goods by Sea Bill, 2024, only has some minor amendments. “This superfluous legislation should be done away with, it does not […]
TuneCore, a digital self-publishing music service, will boost its investments in India, which has become its third-largest market for new artist additions and revenue growth. Chief Executive Andreea Gleeson highlighted that India is the company’s second-largest office globally by headcount, with 83 employees based in Mumbai since 2020.
A PwC report, “VIKSIT: An Approach for India to Achieve $1 Trillion Exports,” outlines essential public and private sector strategies to boost India’s export growth. Launched by Commerce Minister Piyush Goyal, the report emphasizes creating a robust export ecosystem to meet the target by 2029-30.
Germany’s new Low Emission Steel Standard (LESS) may add to the difficulties faced by India’s steel industry. Categorizing steel by emission levels, LESS could damage exports and create negative perceptions. GTRI advised Indian firms to adopt low-carbon technologies and obtain LESS certification to improve sustainability and market access.
The Indian toy export market saw a decline from USD 177 million in 2021-22 to USD 152 million in 2023-24, driven by reduced global demand, said Minister of State for Commerce and Industry Jitin Prasada in a written reply to the Rajya Sabha. Major markets like the USA, UK, and Germany also experienced a drop […]
India’s import of pulses may fall to 40-45 lakh tons in FY25, from 47.38 lakh tons in FY24: Industry
2 years ago
India’s pulse imports were projected to drop to 40-45 lakh tonnes from 47.38 lakh tonnes last year due to good monsoons driving up domestic production. IPGA called for a long-term policy for the pulses market and import duties on yellow peas. Retail prices were expected to fall with increased domestic supply.
Trade between India and Bangladesh through the Petrapole land port resumed Thursday under heavy security after being halted since August 5 following the fall of Sheikh Hasina’s government in Bangladesh. Despite partial trade resumption through other ports in West Bengal on Wednesday, Petrapole remained closed until Thursday. This port handles the highest bilateral trade between […]
The two-day CII BIMSTEC Business Summit 2024 in New Delhi highlighted the need for concluding the BIMSTEC Free Trade Agreement and promoting investments to boost intra-regional trade. Key focus areas include connectivity, agriculture, energy, and technology. An annual business summit and the establishment of a BIMSTEC Industry Chamber were proposed.
By July of the 2024-25 fiscal year, India had exported 2.6 lakh tonnes of onions following the lifting of the export ban in May. The lifted ban required a minimum export price and an export duty. Maharashtra was a key player in procurement efforts, resulting in higher earnings for onion farmers compared to 2023.