India and the UK have resumed negotiations for a free trade agreement, aiming to double bilateral trade within a decade. Commerce Minister Piyush Goyal highlights India’s willingness to reduce tariffs and the ongoing discussions for a social security agreement. Goyal emphasizes the need for more liberal visa issuance to boost trade and investment.
India-UK deal to fire up goods trade 2-3x in 10 years
S&P assessed the weighted average tariffs imposed by Asia-Pacific economies on US products, US tariffs on imports from these economies and the difference between the two. “India and Japan have more domestically oriented economies, which will provide some mitigation from tariffs,” noted S&P in the report titled ‘Asia-Pacific economies likely to be hit by US […]
India’s gold imports in February are expected to plummet by 85% from a year ago, reaching the lowest level in 20 years due to record-high gold prices. The sharp decline in demand is significant even during the wedding season, typically a peak period for gold purchases.
Indian electronics, electrical industry should up exports to $100 billion in 5-7 years: Piyush Goyal
8 months ago
Commerce and Industry Minister Piyush Goyal has urged the Indian electronics and electrical industry to target $100 billion in exports over the next 5-7 years. He emphasized the need for resilient supply chains, better quality standards, and competitive pricing to achieve this goal. The industry is encouraged to prioritize consumer interests over protectionism.
India’s ports sector set for major growth with 500-550 MTPA capacity expansion annually by FY2028
8 months ago
India’s ports sector is expected to add 500-550 MTPA of capacity annually between FY2023 and FY2028, driven by POL, coal, and containerized cargo. Major ports handled 819 MMT of cargo in FY24. The sector’s infrastructure includes 13 major and 205 non-major ports, strategically positioned to enhance India’s dominance in global maritime trade.
India, UK to relaunch FTA talks Monday
8 months ago
India and the UK will resume negotiations for a proposed free trade agreement after an eight-month hiatus, focusing on sectors like advanced manufacturing, clean energy, and financial services. The talks aim to resolve differences on tariff concessions and increase access for professionals, while promoting investment opportunities between the two economies.
India and ASEAN are set to hold the next discussion for a review of the 2009 free trade agreement in April, with talks progressing slowly. The review aims for an updated deal to address trade imbalances and misuse while enhancing balanced and sustainable trade relations between the two regions.
India’s coal imports remained nearly unchanged at 201.30 million tonnes during April-December of the current fiscal year, compared to the same period last year. High domestic coal stocks and lower-than-expected demand contributed to the slight decline in import volumes, even as domestic production increased by 6.11 per cent.
UAE-based Sharaf Group announced a Rs 5,000 crore investment in Kerala over the next five years, citing the state’s conducive business environment and talented workforce. The investment will focus on two dry ports and create numerous job opportunities, further boosting the region’s economic growth.
The Adani Group plans to invest ₹30,000 crore in Kerala over the next five years, announced Karan Adani, MD of Adani Ports and SEZ Ltd. The company will expand Trivandrum International Airport’s capacity from 4.5 million to 12 million passengers with an investment of ₹5,500 crore. Additionally, it will establish a logistics and e-commerce hub […]