The Indian government has upgraded the electronic certificate of origin system to simplify export certification and enhance trade efficiency. From January 2025, electronic filing of non-preferential certificates will be mandatory, helping streamline processes for over 7,000 certificates daily and ensuring transparency and accuracy.
Govt upgrades platform to issue certificates of origin
India’s Directorate General of Trade Remedies (DGTR) has launched an investigation into the alleged dumping of PVC paste resin from the EU and Japan following a complaint by Chemplast Sanmar Ltd. The probe aims to determine if these imports are causing injury to the domestic industry, potentially leading to the imposition of anti-dumping duties.
The talks on the India-Oman Comprehensive Economic Partnership Agreement (CEPA) are expected to receive significant momentum during Commerce Minister Piyush Goyal’s visit to Oman. Discussions will focus on enhancing trade and investment, reflecting the importance of their economic ties, with bilateral trade estimated over $8.94 billion in 2023-24.
India’s exports increased by 5.57% to USD 59.93 billion during April-December due to strong demand in the US market, while imports grew by 1.91% in the same period. Experts predict continued growth in bilateral trade and potential opportunities due to the US-China trade conflict. Concerns remain over possible US tariffs on Indian goods.
India must step up trade play with fast-growing Asia, says Gautam Kumra, chairman, McKinsey Asia
1 year ago
India has a key opportunity to enhance its trade within Asia, with emerging corridors including India-US, India-Japan, and Southeast Asia. Gautam Kumra, chairman of McKinsey Asia, emphasizes the importance of manufacturing’s contribution to GDP and the potential of Global Capability Centres (GCCs). He highlights the need for localization and partnerships, particularly between Japan and India.
A weaker rupee alone cannot boost exports, according to FIEO. Depreciation impacts competitiveness when competitor currencies decline more. It inflates import costs, increases production expenses, and drives domestic inflation, reducing consumer purchasing power. Currency volatility complicates price planning for exporters and raises the cost of servicing external debt.
Tajikistan is in negotiations with Iran for cargo transit via Chabahar port, supported by India, to enhance trade with India and the Gulf region. Tajikistan’s transport minister and Iran’s minister recently signed a cooperation agreement. Tajikistan will access the port through Uzbekistan-Turkmenistan or Afghanistan, indicating strategic trade expansion efforts.
The Central Consumer Protection Authority has issued notices to Ola and Uber over claims of differential pricing based on the type of mobile used, Android or iPhone. Union Minister Pralhad Joshi emphasized zero tolerance for consumer exploitation, labeling the practice as an unfair trade practice and sought responses from the ride-hailing platforms.
India and the EU are making significant progress in negotiations for a free trade agreement (FTA), according to commerce and industry minister Piyush Goyal. The two sides agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial pact, ahead of the 10th round of talks.
US-India trade relations face uncertainty as President Trump pushes for reciprocal tariffs. India, with a trade surplus, contemplates reducing tariffs on specific American products. Officials consider a limited trade deal and broader concessions, aiming to strengthen economic ties despite historical disagreements.