Why it could be a little hard for India to clinch favourable free trade pacts with UK, European Union

3 years ago

Free Trade Agreements (FTAs), or treaties between two or more nations designed to reduce barriers to trade and investment, are not new to India. New Delhi has signed 13 such pacts in the last five decades, with the primary ones being with countries and blocs in the east — for instance Japan, South Korea, Australia, […]

Shipping firms set up subsidiaries at IFSC

3 years ago

Deepesh Shah was speaking at a panel discussion on the concluding day of the 13th edition of the INMEX SMM India 2023 conference here. “We have received eight applications for ship leasing activities, with four approvals and four in-principal (approvals). Entities, formerly based in Dubai or Singapore, have established subsidiaries in the IFSC. This has […]

Govt considers lowering minimum export price on basmati rice to USD 850/tonne

3 years ago

Industry has stated that due to the USD 1,200 per tonne MEP, Indian exporters lose their hard-earned buyer base to Pakistan, which is a competitor of India in this segment. In August, the government decided not to allow exports of basmati rice below USD 1,200 per tonne to restrict possible “illegal” shipment of white non-basmati […]

India, UAE looking at expanding rupee-dirham trade: Piyush Goyal

3 years ago

Goyal is here for the 11th meeting of the India-UAE High Level task Force on Investments. He added that trade in domestic currencies will help save at least 5 per cent on all trade between the two countries. The two sides held discussions around creating food and industrial parks in India. India and the UAE […]

WTO halves 2023 goods trade growth forecast to 0.8%

3 years ago

The World Trade Organization (WTO) has revised its global goods trade forecast for 2023, cutting it to 0.8% from the previous estimate of 1.7%. The slowdown in trade is attributed to factors such as inflation, high interest rates, US dollar appreciation, and geopolitical tensions. However, the WTO expects a 3.3% growth in trade for 2024.

India, UAE to collaborate in fields of industries, advanced technologies; MoU inked

3 years ago

India and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) to collaborate in the sharing and development of industries and advanced technologies. The MoU aims to strengthen industries in both nations through investments, technology transfer, and the deployment of key technologies. The areas of cooperation include supply chain resilience, renewable energy, […]

India turns a deaf ear to West by paying Russia more for its own gains

3 years ago

India is buying more Russian oil, despite it being priced above the Western cap of $60 per barrel, due to a resurgent Brent Crude. India has been purchasing Russian oil even though it has breached the G7’s price cap. India argues that it will buy any oil that is cheaper, prioritizing energy security. However, the […]

India invites Brazilian industries to become part of its growing supply chain

3 years ago

India has invited Brazilian companies to join its supply chain in order to strengthen economic ties between the two countries. Commerce Secretary Sunil Barthwal, during his visit to Brazil, discussed ways to promote trade and invited Brazilian industries to be part of India’s growing supply chain. The visit took place against the backdrop of a […]

National Action Plan for Green Shipping promotes eco-friendly practices: DG of Shipping

3 years ago

The National Action Plan for Green Shipping in India aims to promote eco-friendly practices and provide incentives for low-emission ships, according to the Director General of Shipping, Shyam Jagannathan. He highlighted the sector’s vision, which includes expanding port capacity, developing clean energy fuel hubs, promoting cruise tourism, and embracing digitalization. The ongoing maritime exhibition and […]

India’s palm imports fall more than a quarter in September as stocks surge -dealers

3 years ago

India’s imports of edible oil decreased by 19% in September compared to August, as refiners reduced purchases of palm oil by 26% due to record inventories. The decline in edible oil imports could result in higher stocks of palm oil in Indonesia and Malaysia, affecting benchmark futures.

Why it could be a little hard for India to clinch favourable free trade pacts with UK, European Union

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