TCI expects surge in revenue for supply chain segment

The WTO’s dispute settlement body granted a joint request from India and Chinese Taipei to delay the adoption of the panel ruling against India’s import duties on high-tech goods till April 2025, as both parties work towards a mutual resolution.

India relies heavily on imports for critical minerals like lithium, cobalt, and nickel. The demand for these minerals may more than double by 2030. The country must develop an import strategy, partnerships with mineral-rich nations, and domestic mining operations to meet its renewable energy goals. Developing local lithium refining capabilities and exploring alternative trade partners […]

Swiss companies are investing more in India, encouraged by a new trade deal with the European Free Trade Association. This agreement will reduce tariffs on exports and open up the Indian market. Swiss firms like ABB and Kuehne+Nagel are expanding their operations, while the deal will also boost Indian exports of pharmaceuticals, clothing, and machinery.

India is seeking compensation from Turkiye following Ankara’s decision to extend safeguard measures on polyester staple fibres, impacting trade worth USD 22.18 million in 2023-24. India, citing WTO norms, may impose retaliatory customs duties if consultations do not resolve the issue.

In a bid to fill trade finance gaps in African countries, the State Bank of India and India Exim Bank are supporting businesses by providing credit lines and trade loans. These initiatives, which complement rather than compete with each other, aim to aid smaller corporates and enhance cross-border trade post-COVID-19.

Piyush Goyal, speaking at the 18th Asia Pacific Conference of German Business in New Delhi, advocated for a deeper strategic partnership and a Free Trade Agreement between India and the EU, emphasizing mutual respect in negotiations and highlighting the synergies between India’s scaling capabilities and Germany’s precision engineering.

High interest rates are a major issue for Indian exporters. Three-fourths borrow at over 12 per cent. A survey shows 40 per cent exporters expect exports to decline this year. The commerce department is exploring solutions to ease credit flow and reduce borrowing costs. Freight rates and logistics also impact competitiveness.

Goyal said that first the sensitivities between the 27 countries of the EU and 27 states of India need to be respected.”If we respect each other’s sensitivities, like with UAE, Australia and EFTA, we respected each other’s sensitivities, and not encroach on issues which can hurt. For example, dairy, I just cannot open up dairy. […]

The commerce ministry aims to finalize an SOP document for FTA negotiations by year-end, involving input from 17 ministries. This document will standardize negotiation processes and include best practices, assisting future negotiators. A recent ‘Chintan Shivir’ addressed various FTA-related topics, reinforcing India’s ongoing trade discussions globally.