The initial assessment, conducted by the Research and Information System for Developing Countries, a New Delhi-based thinktank, would mean a 6.7% drop in Indian exports, based on last fiscal year’s $451 billion total.
India’s exports may take a $30 billion hit on Red Sea threats
The dedicated ecommerce export hubs will have warehousing facilities for easy storage, customs clearance, returns processing, labelling, testing and repackaging. The move is expected to aid sellers relying on online platforms, including social media such as Instagram, to sell their merchandise.
The proposed free-trade agreement (FTA), Comprehensive Economic Partnership Agreement (CEPA), between India and Oman faces potential challenges due to demands for customs duty concessions on petrochemical products like polypropylene and polyethylene. Certain domestic players oppose these duty concessions, citing Oman’s significant subsidies on raw materials for petrochemical production.
The CM also released the USD 1 trillion report and the first copy was received by Goyal on the occasion. Later in a social media post, Stalin said, “Honoured to share the dais with Union Minister of Commerce and Industry Thiru Piyush Goyal and esteemed industry leaders. TVS Chairman Venu Srinivasan, JSW MD Sajjan Jindal, […]
The situation around the Bab-el-Mandeb Strait, a crucial shipping route connecting the Red Sea and the Mediterranean Sea to the Indian Ocean, has escalated due to recent attacks by Yemen-based Houthi militants.
Piyush Goyal has claimed that the country will meet its ambitious $2 trillion export target by 2030, notwithstanding geopolitical headwinds and inflationary concerns. India currently exports around Rs 1,500 crore worth of jute. Goyal, who also holds the portfolios of textiles and consumer affairs, food and public distribution, urged industry players to increase the figure.
“With increasingly stringent regulations focusing on safety, emissions, and technological advancements, car manufacturers are investing in research, development, and innovation,” said Piyush Arora, managing director and CEO of Škoda Auto Volkswagen India. VW exported 40,920 passenger vehicles in 2023, registering a growth of 29%, while Skoda’s exports soared 431% to 1,530 units.
India’s antitrust body, the Competition Commission of India (CCI), is investigating domestic units of global delivery companies, including DHL, UPS, and FedEx, for alleged collusion on discounts and tariffs. The CCI initiated the inquiry in October 2022 after a complaint by the Federation of Indian Publishers, accusing the companies, along with domestic firms, of deciding […]
Citing a 50-70% drop in capacity utilization 50% to 70%, the Confederation of Indian Textile Industry (CITI) sought extension of the one-year moratorium for repayment of the principal amount, and conversion of three-year loans under Emergency Credit Line Guarantee Scheme (ECLGS) into six-year term loans.
USTR Katherine Tai to visit India next week
2 years ago
US Trade Representative Katherine Tai will visit India from January 12-14 to participate in the 14th ministerial-level meeting of the India-US Trade Policy Forum. Tai will co-chair the forum with commerce and industry minister Piyush Goyal. The forum aims to discuss issues enhancing trade resilience, including agriculture, industrial products, services, and intellectual property protection.