Red Sea crisis unlikely to impact India’s grape exports to Europe amid high demand

Exporters are confident that exports will increase even if freight costs go up, thanks to high demand for Indian grapes in Europe amid diminishing supplies from South America.

WTO Director-General Ngozi Okonjo-Iweala has called on the G20 to show leadership and contribute to economic stability and growth by unwinding recent and longstanding restrictions on trade. G20 members include India, Argentina, Australia, Brazil, Canada, China, France, Germany, Japan, Russia, the UK, and the US, among others.

If the talks fail, Taiwan could adopt WTO panel filings and India could take the case to the Appellate Body of WTO, which hasn’t been functional for nearly two years due to the US blocking the appointment of judges. India has appealed against the ruling in its dispute with Japan and the EU. The dispute […]

The panel in April had ruled that import duties imposed by India on certain ICT products violate global trading norms. Appellate body is the final authority to decide on trade disputes in WTO. However, it is not functioning as the US has been blocking appointments of judges in the body.

“India-Sri Lanka Economic and Technology Cooperation Agreement (ECTA) negotiations are ongoing with the 12th round of negotiations conducted from 30th October to 1st November 2023 in Colombo,” it said. It added that both sides also agreed to continue discussions on matters, including apparel quotas and pharmaceutical procurement.

For the EU, the tax range is 20-35%. Both the UK and the EU have implemented emissions trading systems (ETS) to cap and reduce greenhouse gas emissions. These systems work by setting a limit on the total amount of carbon dioxide emissions allowed and then issuing permits to emitters. Companies must purchase permits for each […]

India’s main exports to the UK are ready-made garments and textiles, gems and jewellery, engineering goods, petroleum and petrochemical products, while key imports include precious and semi-precious stones, ores and metal scraps, and engineering goods. Discussions are also going on between the countries on the bilateral investment treaty. Investment is being negotiated as a separate […]

In such agreements, two countries either substantially cut or eliminate customs duties on the maximum number of goods traded between them, besides easing norms for promoting trade in services and investments. It was decided that an Oman Desk would be created in Invest India for this purpose. Similarly, Invest Oman would also launch an India […]

In June, the US and India agreed to drop six WTO (World Trade Organisation) disputes, encompassing three cases initiated by each.

The Ministry of Commerce and Industry announced that the fourteenth round of Free Trade Agreement negotiations between India and the UK will take place in January 2024. The negotiations, which focused on complex issues like goods, services, and investment, will continue.