Sector watchers said that the alternate route between Europe and Asia through the Cape of Good Hope will take two-three weeks more, depending on where the consignment is to be delivered. This is likely to result in containers being held up in transit for longer and freight prices firming up.
Red Sea shipping pause: Industry sees 30% rise in costs, 2-week delay
The commerce and industry ministry is drawing up a roadmap to work on the kind of documentation that needs to be maintained by Indian exporters to deal with anti-subsidy levies such as countervailing duty cases conducted by various countries on domestic products.
Prime Minister Narendra Modi and Haitham bin Tarik, the Sultan of Oman, on Saturday adopted a new ‘India-Oman joint vision, a partnership for future’ focusing on ten essential areas, heralding a new chapter in the strategic partnership between the two nations.
India, Oman adopt vision document to expand ties
3 years ago
Prime Minister Narendra Modi and Oman’s Sultan Haitham bin Tarik on Saturday firmed up a vision document to significantly expand bilateral cooperation in around 10 key areas and pushed for concluding a trade pact as early as possible during their “productive” talks. Modi and Tarik also discussed the situation arising out of the Hamas-Israel conflict […]
India’s vegetable oil imports fell by 25% to 11.60 lakh tonnes in November 2023, compared to 15.45 lakh tonnes in the previous year, according to industry body SEA. The country’s crude vegetable oils declined by 26.34% to 9.77 lakh tonnes, while refined vegetable oils imports fell by 15.41% to 1,71,069 tonnes.
India and the UK are in advanced stages of discussions to address visa concerns for Indian professionals and customs duty concessions on British electric vehicles (EVs) as part of the proposed free trade agreement. An Indian delegation is currently in the UK to resolve these issues, along with concerns in the services sector and customs […]
India appealed against WTO’s ruling on import duties for information and tech products, contesting the decision following the EU-initiated dispute. The challenge highlights legal interpretations and seeks review by the non-functional appellate body due to member disputes. Despite bilateral talks, India’s move signifies addressing the WTO’s findings on its import duties.
The statement comes after revenue secretary Sanjay Malhotra and US Treasury under-secretary for terrorism and financial intelligence Brian Nelson co-chaired the India-US Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) Dialogue in the capital.
India on Thursday appealed against a decision by the dispute settlement body of the World Trade Organization (WTO) that had ruled against New Delhi’s imposition of tariffs on mobile phones and electronic components, among other ICT goods. The case was brought by the EU and a WTO panel in April said that India had violated […]
“The kind of investment that India is making in both physical and digital infrastructure….all that is creating an enabling environment where we will start getting good and credible data, on the basis of which we can do data-based planning and ultimately data based policy making as well,” DPIIT secretary Rajesh Kumar Singh said while releasing […]