India and the UK have focused on resolving challenges during low-hanging fruits negotiations that included closing several chapters, the Indian government has revealed. Minister of Commerce and Industry Piyush Goyal and the UK’s Secretary of State for Trade Kemi Badenoch discussed opportunities for mutual trade advancement and collaboration.
India, UK trade ministers discuss FTA’s thorny issues resolution, low hanging fruits
The government on Wednesday imposed restrictions on imports of certain gold jewellery and articles. In a notification, the directorate general of foreign trade (DGFT) amended the import policy for unstudded jewellery made of gold, and other articles made of gold to “restricted” from “free”.
The import of potatoes in India from Bhutan will continue without any import license for another year. A similar exemption has also been made for areca nut export. Earlier, the Indian government had given import exemption for potatoes from Bhutan for a year, which ended on June 30.
Secretary (Consular, Passport & Visa and Overseas Indian Affairs) in the Ministry of External Affairs Ausaf Sayeed also shared that India is in discussion with its bilateral partners with regard to alternate payment mechanisms like rupee trading and barter trading “especially under the new circumstances where most countries are facing challenges of foreign currency”.
Samunnati facilitates farm gate procurement to direct export of 275 MT of seedless grapes to Netherlands
3 years ago
Agricultural enterprise Samunnati has facilitated farm gate procurement to direct export of 275 MT of Thomson seedless grapes to Netherlands for the grapes season 2023. To ensure a seamless value chain, Samunnati facilitated farm gate procurement, end-to-end primary processing, cold storage, packaging, and certification, all the way up to the export stage.
India is expected to play a smaller role in the global sugar export market due to its expanding ethanol program, according to a report by research firm BMI. The country’s goal of achieving increased ethanol blending in gasoline, which will reduce carbon emissions, is leading to the development of additional capacity to produce ethanol in […]
Export, import cost may increase from Jan 2027 as global shipping faces costly decarbonisation measures
3 years ago
The global shipping industry’s decarbonisation measures may increase the cost of exports and imports from January 2027, a report by GTRI said. IMO has notified its commitment to decarbonise the sector and achieve net-zero emissions by 2050 and has also set interim targets to reduce emissions. While IMO’s recommendations are not legally binding, countries are […]
India has set a target of exports of $1 trillion each in goods and services by 2030. The aim is to raise the country’s share of exports in global trade to 3% by 2027 and 10% by 2047 from the current 2.1%.
The India-UK bilateral trading relationship was worth Pound 34 billion in 2022, growing by Pound 10 billion ( Rs 102 crore) in one year, according to official UK government statistics. During the visit, the minister is also expected to meet with the ministers and officials from the EFTA member countries, (Switzerland, Norway, Iceland, and Liechtenstein), […]
Commerce and industry minister Piyush Goyal is set to visit the UK on July 10-11 to discuss a free trade agreement (FTA) and review progress on progressing another similar pact with the European Free Trade Association. The visit will include meetings with UK ministers and representatives from various sectors and industries. Both the UK and […]