Claiming that India appears to be providing “significant” market price support (MPS) for rice and wheat, both in terms of absolute value and as a percentage of the value of production, the five countries said, “India’s notifications for the years at issue appear to dramatically under-report the value of India’s MPS for rice and wheat.”
Five WTO nations flag India’s market price support for wheat, rice
India’s Finance Minister, Nirmala Sitharaman, hinted at the possibility of reducing import taxes, contingent upon the absence of harm to domestic industries. This comes in the wake of US President Donald Trump’s criticism of India’s high tariff rates. While acknowledging the need to protect Indian businesses, Sitharaman emphasized the government’s willingness to adjust tariffs to […]
India’s merchandise exports will grow to $107.5 billion in the third quarter of FY25. Non-oil exports will see a significant rise. The growth is driven by strong economic activity and improving demand from trading partners. Exim Bank predicts this growth to continue in the last quarter. However, global economic uncertainties and geopolitical factors pose risks […]
“India is now Russia’s second-largest economic partner,” says Denis Manturov at trade session
1 year ago
During his visit to India for the 25th session of the India-Russia Intergovernmental Commission, Russian First Deputy Prime Minister Denis Manturov highlighted the fivefold growth in bilateral trade over the past five years. Manturov emphasized the diversification of trade, ranging from energy and fertilizers to food products and pharmaceuticals.
Five WTO members have accused India of exceeding market support for wheat and rice, potentially distorting global trade. They claim India’s support for rice production exceeded 87% of its value in recent years. India defends its actions, stating its commitment to supporting its farmers and ensuring food security, invoking the WTO’s Peace Clause as justification […]
India and Russia are aiming to achieve $100 billion in bilateral trade by 2030, according to Indian External Affairs Minister S Jaishankar. While optimistic about reaching this target, Jaishankar highlighted the need to address the trade imbalance, which currently favors Russia due to India’s oil imports. He urged for swift action on non-tariff barriers and […]
India’s External Affairs Minister S Jaishankar called for immediate action to address the significant trade deficit with Russia, which has reached USD 25.11 billion due to increased crude oil imports. He emphasized the need to remove trade barriers, promote national currency settlements, and explore collaborations in energy, connectivity, and human resources to achieve a more […]
India’s Commerce Minister Piyush Goyal set an ambitious goal of reaching $2 trillion in exports by 2030, emphasizing the need for collective efforts to overcome non-tariff barriers. Goyal urged the Indian Institute of Foreign Trade to contribute by studying these barriers and leveraging free trade agreements to benefit businesses and create jobs.
Former Indian Foreign Secretary expresses optimism about Donald Trump’s second term as US President. The article highlights the strengthening of India-US ties during Trump’s first term, citing advancements in defense cooperation, trade, and the Quad. The author believes that India is well-positioned to navigate a second Trump presidency and further enhance the bilateral partnership.
Moody’s predicts India and ASEAN nations will experience economic growth as trade shifts from China under a second Trump administration. The report anticipates increased US investment in these regions. However, the global supply of semiconductors could face disruptions due to potential geopolitical tensions. Trump’s policies are expected to impact fiscal deficits, trade, climate change, and […]