Govt to discuss market access with trade allies

The commerce department has begun the exercise with barriers such as registration requirements, higher pesticide levels and domestic standards, put up by Africa and 12 Central Asian countries, including Russia, and would then study the restrictions imposed by other trading partners.

New Delhi’s stand comes after the US sought more time to come up with a solution and said that only PSH can’t be a part of the agriculture package at MC13 and want discussions on issues like providing information on export restrictions at least 30 days prior to the notification, which is not feasible.

The Reserve Bank of India (RBI) has highlighted the challenges faced by Indian trade, citing a contractionary zone in PMIs for new export orders in December.The RBI also noted that retail inflation in India has gradually descended closer to the target, despite growth beating expectations. The central bank attributed India’s growth to strong domestic demand.

The ‘Trade Connect ePlatform’ will provide facilitation for new and aspiring exporters, information on various regulations to access markets, sectors, export trends, and easy access of benefits under Free Trade Agreements.

India usually exports around 250,000 to 300,000 metric tons of corn every month but in December its exports fell to around 30,000 tons, dealers said.

The Commerce Ministry has directed the Department of Financial Services (DFS) to monitor and ensure credit flow to exporters facing challenges due to increased freight costs in the Red Sea crisis. The move aims to support exporters dealing with elevated shipping expenses as consignments take longer routes, impacting both time and cost. The inter-ministerial meeting, […]

EEPC believes that entering into more free trade agreements, especially with countries in Latin America and Africa, would provide exporters with deeper access to new and emerging markets, Engineering Export Promotion Council of India Chairman Arun Kumar Garodia said.

India is set to adopt a firm approach in dealing with non-tariff barriers imposed on Indian exports by other nations, and will reciprocate with similar measures, according to Commerce and Industry Minister Piyush Goyal. During a recent address, he urged the industry to provide a comprehensive list of these barriers, allowing India to raise the […]

However, it has been shipping rice to friendly and neighbouring nations such as Indonesia, Senegal, Gambia, Nepal, Bhutan, Sri Lanka, Maldives, Malaysia, Indonesia, Vietnam and Iran on a government-to-government basis. This is being facilitated by the National Cooperative Exports Ltd (NCEL), a government export body which was set up under the Multi-State Cooperative Societies (MSCS) […]

The government is considering giving cash refunds to exporters instead of scrips for tax remission schemes, according to economic think tank GTRI. This move would improve cash flow for exporters, especially those facing a weak export outlook for 2024. Currently, refunds under the RoDTEP and RoSCTL schemes are issued as scrips, which can be sold […]