The Red Sea crisis has caused significant shipping costs and times for Indian companies, leading to job losses and increased costs for small exporters. In India, small exporters, who account for 40% of the country’s annual merchandise exports worth $450 billion, have warned that job losses have started and could soar if the attacks, which […]
India’s small exporters reel as Red Sea crisis helps rivals nab business
India has launched an anti-dumping investigation into the import of solar glass from China and Vietnam following a complaint from domestic players. The probe will determine if the dumping of ‘Textured Tempered Coated and Uncoated Glass’ has caused material injury to Indian industries.
India, UK trade pact talks at advance stage; we want a fair deal: Comm Min Secretary Sunil Barthwal
2 years ago
The negotiations for the proposed India-UK free trade agreement are at an advanced stage, and both sides are working to iron out differences on the remaining issues, a top government official said on Thursday. Commerce Secretary Sunil Barthwal said the negotiations are taking time because “we want” to safeguard India’s interest.
Exports rise 3.12 pc in January despite Red Sea crisis; trade gap shrinks to 9-month low
2 years ago
India’s exports rose to USD 36.92 billion in January, with a trade deficit of USD 17.49 billion. Imports grew to USD 54.41 billion. Crude oil imports rose by 4.33% to about USD 16.56 billion. Gold imports jumped by about 174% to USD 1.9 billion. April-January exports dipped by 4.89% to USD 353.92 billion. Imports contracted […]
India rejects European FTA bloc’s ‘data exclusivity’ demand to protect generic drug firms’ interest
2 years ago
India rejects EFTA’s demand for ‘data exclusivity’ provision, protecting the generic drug industry. Secretary Barthwal emphasizes India’s support for the industry. Exclusivity is beyond TRIPS agreement. EFTA has 29 FTAs with 40 partner countries, including Canada, Chile, China, Mexico, and Korea.
India’s trade deficit increased to $17.49 billion in January 2023, according to Commerce Secretary Sunil Barthwal. The deficit was $17.03 billion in January 2023 and $19.8 billion in December 2023. Merchandise exports rose by 3.12% to $36.92 billion, while imports increased by 3% to $54.41 billion. Services exports increased by $28 billion in January and […]
AEPC urges govt to suspend order allowing trans-shipment of Bangladesh export cargo through Delhi Air Cargo complex due to Red Sea crisis increasing transportation costs and shifting export shipments from sea to air mode. Excessive increase in air freight rates, delay in handling and processing of export cargo, and severe congestion at Cargo Terminal making […]
The Warehousing & Logistics sector saw a rise in absorption, recording 37.8 million sq ft in 2023, a 21% increase from the previous year. Despite a 65% decline in investments in 2023, reaching USD 646 million, absorption surpassed the 2019 pre-pandemic level by 15%. Third-party logistics companies accounted for 44% of overall absorption, followed by […]
India, Bangladesh, Egypt, Indonesia, and South Africa have expressed concerns over a recent World Trade Organization (WTO) draft on dispute settlement reform. The draft proposes changes such as including mediators during consultations and altering the composition and powers of dispute settlement panels. The countries argue that certain proposals, like limiting the possibility of appeal and […]
Ministers from around the world are gathering in Abu Dhabi for a World Trade Organization meeting to address key issues such as reforming the dispute system and cutting fishing subsidies. The WTO’s top court has been inactive for four years due to opposition from the US, leaving billions of dollars worth of trade disputes unresolved. […]