Private sugar millers are urging the government to permit the export of two million tonnes of sugar in the upcoming 2024-25 season due to an anticipated surplus in sugar stocks. Maharashtra’s sugar production is forecasted to decrease by 10% primarily due to reduced cane acreage. Industry associations are calling for a revision of the minimum […]
Allow export of 2 million tonnes sugar in 2024-25: WISMA
Malaysia has urged India to ease export restrictions on key farm goods such as rice and sugar. Malaysia’s Minister for Plantation and Commodities, Johari Bin Abdul Ghani, highlighted the negative impact of India’s abrupt export curbs on Malaysia during an industry conference in New Delhi.
Increasing exports, trade in local currency, FTA to boost India-Russia commerce: GTRI report
2 years ago
Steps recommended by the think tank GTRI to boost trade between India and Russia include increasing exports, implementing local currency trading, and pursuing a free trade agreement with the Eurasian Economic Union. Despite a growing trade deficit, India benefits from favorable crude oil deals with Russia. The impact of the Ukraine war and US sanctions […]
Consulting firm EY and industry group Assocham recommend the Indian government develop e-commerce export policies and integrate them into free trade agreements to achieve $200-300 billion in exports by 2030. Their report proposes cheaper financing, raising the courier consignment limit to $50,000, simplifying customs, and establishing E-commerce Export Hubs (ECEH) across the country.
India aims for $100 billion trade with Russia by 2030 via exports, local currency trading, and Eurasian FTA. FY24 trade reached $65.7 billion, with $4.3 billion exports and 88% oil imports; import surge 8300% and 59% export growth due to discounted oil. Export strategy and currency exchange are crucial. INSTC reduces costs. Ajay Srivastava notes […]
India is considering reducing the floor price for basmati rice exports and replacing the 20% export tax on parboiled rice with a fixed duty to address record-high rice inventories. This move aims to boost shipments and compete with Pakistan, the other leading basmati rice exporter. The government may also introduce a minimum export tax to […]
Commerce and Industry Minister Piyush Goyal, at the G7 trade ministers meeting in Italy, discussed India’s FTAs with the EU and UK and the India-Middle East-Europe Economic Corridor. Talks with Valdis Dombrovskis focused on India-EU trade and FTA negotiations, while discussions with Jonathan Reynolds covered deepening India-UK economic ties and resolving FTA issues before elections. […]
Indian Rubber Gloves Manufacturers Association demands ban on import of chlorinated gloves
2 years ago
IRGMA requested banning chlorinated gloves due to bio-waste violations and urged using BIS approved gloves via GEM. The Malaysian Rubber Council noted health risks. CPCB and West Bengal Pollution Boards support bans. CDSCO Gazette from Oct 2, 2022, prohibits powdered Nitrile gloves. Sunil Patwari and Konda Anindith Reddy from Wadi Surgicals emphasized risks from chlorinated […]
The commerce ministry finalises IPEF clean and fair economy notes, with India skipping the trade pillar. Focus areas include greenhouse gas mitigation, sustainable agriculture, decarbonising transport, anti-corruption, and tax transparency. IPEF nations (40% GDP, 28% trade) target supply chain resilience, critical production shift, cabinet notes completion, emission barriers reduction, and low-carbon financing. Caution against subsidised […]
The EU’s CBAM taxes 25% on India’s energy-intensive exports, impacting 0.05% of GDP, per CSE. Targeted goods: iron, steel, cement, fertilizers, aluminum. Exports to the EU made up 9.91% (2022-23). 26% aluminum, 28% iron, steel were EU-bound. CBAM-covered goods formed one-fourth of global exports. No hydrogen, electricity exported. Debates occur at UN climate conferences.