No customs duty on Masur from US

India had announced it would remove retaliatory duties on certain US products, including masur, during Prime Minister Narendra Modi’s visit to the US in June. Customs duty of 22% on masur of US origin was made zero effective September 6. This will ease the import of masur directly from the US, instead of being routed […]

Negotiating trade pacts with certain G20 countries and diversifying exports to regions like Brazil and Mexico could help India boost outbound shipments and manufacturing in the years to come, Chairman, CII national committee on EXIM, Sanjay Budhia, said on Wednesday. He said that tapping into opportunities in G20 countries is crucial for India’s economic growth […]

While the supply chain agreement of the IPEF is awaiting comments from various ministries before it is sent for Cabinet approval, officials said negotiations on clean economy and fair economy are progressing well.

Ahead of his first visit to India as UK Prime Minister to attend the G20 World Leaders’ Summit in New Delhi later this week, Sunak updated his top team on the ongoing trade talks which have completed 12 rounds of negotiations. The British Indian leader described India as an “indispensable partner” of the UK across […]

Ministry of Mines has issued Quality Control (QC) orders to restrict the sale of poor-quality aluminium, copper, and nickel from December 2023 onwards. The Indian government had proposed Quality Control orders on aluminium, copper, and nickel back in March and draft orders for aluminium alloys and these metals were floated till May-end.

India’s edible oil imports in August rose 5% to 1.85 million metric tons, a record high. In July, India imported 1.76 million tons, which was also a record high. India’s average monthly edible oil imports in the 2021/22 marketing year were 1.17 million tons, trade body Solvent Extractors’ Association of India (SEA) said.

India’s presidency in the G20 is seen as an opportunity for the country to strengthen trade ties and attract investments from member nations, particularly in sectors like infrastructure. Experts believe that the G20 plays a strategic role in global economic growth and prosperity, as its members represent a significant portion of global GDP, trade, and […]

India’s restrictions on rice exports have caused panic in the global market, with rice prices in Asia nearing a 15-year high. The anxiety over supply is justified as rice is a vital food source for billions of people. The onset of El Niño threatens to further disrupt the market, and if Thailand and Vietnam follow […]

The Indian government has extended its mandate to power plants to import coal until March as the country experienced the driest August in a little over 100 years, pushing electricity demand to a record high. Plants have been asked to import 4% of their supplies through March in a bid to avoid outages.

Speaking at the Indian Chamber of Commerce here, Sarangi said India is now a part of several multi-lateral groupings like Australia Group.