Amritsar Airport is now an authorized export point for gold, silver, and platinum jewellery. The Gem & Jewellery Export Promotion Council advocated for this change to promote regional growth. This will benefit businesses in Punjab by simplifying export processes. The move is expected to boost exports, especially to markets like Dubai where demand for Indian […]
Amritsar Airport now authorized export point for gold, silver, and platinum jewellery
Senator Marco Dreosto highlights the potential of the India-Europe Economic Corridor (IMEEC) to reshape global trade. Dreosto emphasizes the historical ties between Italy and India, advocating for the Port of Trieste’s strategic role as a primary European terminal for IMEEC. He envisions joint ventures in third-country port sectors, aligning with Italy’s Mattei Plan for sustainable […]
The Indian government is considering imposing minimum import prices (MIP) on certain textile products, including viscose rayon yarn and woven fabrics, to protect domestic industries from a surge in imports, primarily from China. The move aims to curb dependence on imports and address the growing trade deficit with China.
Joining RCEP to hit India as investment destination, overwhelm MSMEs, capital flight: GTRI
1 year ago
Joining RCEP could hinder India’s goal of becoming a top investment destination. Experts warn that it could lead to domestic capital flight and harm small businesses. India already has trade agreements with most RCEP members. The World Bank suggests focusing on internal reforms instead. India’s exports to China have not grown significantly despite existing agreements.
India is poised to become the second-largest recipient of global investments after the US during President Trump’s second term. Investors are drawn to India’s potential as a market, its alignment with Trump’s policies, and its strong economic growth prospects, particularly in sectors like energy, infrastructure, and consumer goods.
A new report by GTRI supports India’s decision to opt out of RCEP, citing concerns over widening trade deficits, particularly with China. The study argues that RCEP could harm domestic industries, especially MSMEs, and offers limited export gains, outweighing potential benefits like GVC integration.
India is proceeding with its free trade agreement negotiations with various countries and blocs, including the UK and the EU, according to a government official. Despite rumors of pauses, talks are progressing as planned, with a meeting between Indian and EU trade representatives scheduled soon.
India witnessed a 5% increase in oilmeal exports this October, reaching 3.05 lakh tonnes. This positive trend follows a 7% decline in oilmeal exports from April to October compared to the same period last year. The decline was mainly due to lower shipments of rapeseed and castorseed meals.
India’s imports from the UAE surged by 70.37% to USD 7.2 billion in October, resulting in a trade deficit of USD 3.5 billion. This surge in imports, primarily in silver, platinum, and dry dates, has prompted India to raise concerns with the UAE, urging them to ensure adherence to the Free Trade Agreement.
Commerce and Industry Minister Piyush Goyal suggested the ITPO hold two annual editions of the flagship trade fair. He inaugurated the 43rd IITF at Bharat Mandapam. Goyal also suggested starting India’s fair in other parts of the world. He added the need to organize more large international exhibitions. The ministry is considering expanding the facilities […]