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.
Priority sector lending, easy customs, higher consignment limit to $50,000 to push ecomm exports: EY-Assocham report
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 […]
The new airport is expected to be set up by the Airports Authority of India (AAI), while NTPC will set up the LNG power plant, a senior official aware of the plan told ET.
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.
Fisher organisations from multiple countries express concerns about unfair restrictions on small-scale fishers in developing countries in ongoing WTO negotiations on fisheries subsidies. They advocate for moving the negotiations to the Food and Agriculture Organization for better treatment and sustainable management of marine resources.
The commerce ministry plans to establish a center for negotiations to enhance skills in areas like free trade agreements and business deals, Commerce Secretary Sunil Barthwal announced on Tuesday. Speaking at the Indian Institute of Foreign Trade (IIFT), Barthwal emphasized the importance of negotiation skills and indicated that the center will also develop these skills […]
The Global Trade Research Initiative (GTRI) has raised concerns over UAE’s precious metals imports to India under the CEPA, urging an investigation due to negative impacts on domestic industries and potential revenue loss. GTRI highlighted issues of tariff arbitrage, money laundering possibilities, and the need for a review of the agreement.