There are reports that the deal could be sealed in December after the state assembly elections. The two sides have differences whether taxation will be included in a proposed investment protection pact, as well as the UK’s demand that tariffs be cut on electric vehicle exports to India.
UK PM Rishi Sunak likely to visit India as and when FTA is ready to be announced
The ongoing Middle East conflict, primarily affecting Gaza, has had a negligible impact on India’s trade, according to Crisil Ratings. Sectors like fertilizers and diamonds may see slight but manageable impacts, while most others will be unaffected. However, the conflict has raised gold and crude oil prices, and their trajectories are being monitored, given India’s […]
India will not accept unfair taxes on steel, aluminum industry: Goyal on EU’s carbon tax
3 years ago
“I will assure you that we are extremely concerned about CBAM…We are taking it up with the WTO very very seriously. We shall try to work and fight to get a fair deal for the Indian producers and exporters and nobody is complacent about CBAM,” he said.
SEZs should be allowed to sell goods in domestic market on payment of duty foregone on inputs: GTRI
3 years ago
Think tank Global Trade Research Initiative (GTRI) has suggested that the government of India should consider allowing the sale of products manufactured in Special Economic Zones (SEZs) in the domestic market on payment of duty foregone on inputs. This will enable promotion of value addition, the organization suggested.
The demand for warehousing has shown resilience marked with growth in lease rentals for logistic spaces across top eight markets during the half year ended September. While occupier traction seems to have taken a pause in the current analysis period, rent growth across markets has been relatively healthy during the period since March.
Mundra Port, operated by Adani Ports and Special Economic Zone Ltd (APSEZ), achieved a new cargo handling record, surpassing 16.1 million metric tonnes (MMT) in October, marking the highest volume ever handled by an Indian port. It also set a new milestone by handling 4.2 million TEUs of containers in just 203 days
It is the largest port in the country with 102 MMT of cargo handled so far this year with a good 9 per cent year-on-year growth. The port crossed the 100 MMT mark in 210 days, surpassing the record of 231 days last year.
Restrictions, PLI, mandatory quality norms help cut import of certain non-essential goods
3 years ago
Various steps such as inbound shipments of certain goods, production-linked incentive scheme and mandatory quality norms have helped in reducing import of non-essential products. To cut imports, the government has increased customs duty on gold, imposed curbs on inbound shipments of television, levied minimum import price on some goods, introduced National Food Security Mission (Oilseeds […]
Sonowal said measures like guaranteed berths to cruise ships encourage cruise operations. Volume discounts in cruise tariff up to 30% for domestic cruise ships and licensee fee waivers for foreign cruise vessels have already improved prospects. “As a result of these initiatives, from 102 cruise calls and 84,000 passengers handled in 2013-14, we went up […]
FM Nirmala Sitharaman appreciates SBI for successfully launching direct Lankan-Indian Rupee trade
3 years ago
India’s Finance Minister, Nirmala Sitharaman, has praised the State Bank of India (SBI) for launching a direct Sri Lankan Rupee-Indian Rupee trade, making it the first foreign bank in Sri Lanka to do so. Sitharaman inaugurated the second SBI branch in Jaffna during her official visit to Sri Lanka. The initiative aims to provide an […]