India and Egypt have identified key areas for collaboration, including international trade settlement, digital payments, and investment in the Suez Canal Economic Zone. They also discussed market access issues on agricultural products and agreed to resolve them promptly. Both countries aim to increase trade and investment, with the next Joint Trade Committee meeting scheduled for […]
India, Egypt identify international trade settlement, digital payments as focus areas
India’s steelmakers have urged the government to double tariffs on steel imports to 15% to counter a surge in cheaper shipments from China. The Indian Steel Association expressed concerns about the impact of these imports on local producers and requested additional measures to protect the industry.
Industry body Ficci has urged for strict punishment and enhanced surveillance to combat illicit trade, which is estimated at Rs 7.97 lakh crore annually across five key sectors, including apparel and FMCG. The illicit market in packaged foods alone was Rs 2.23 lakh crore in 2022-23, over one-fourth of the country’s packaged food market.
The Bangladesh government has ordered the export of 2,420 tonnes of Hilsa fish to India ahead of the festive season. This move is expected to lower prices and delight Indian fish lovers. The fish must be imported by October 12, raising concerns about timely delivery.
The government’s inconsistent policies on laptop import restrictions have led to increased business uncertainty and costs, according to think tank GTRI. To promote local manufacturing and reduce reliance on China, a stable and long-term policy is needed. Import restrictions could encourage global tech giants to shift production to India.
Commerce and Industry Minister Piyush Goyal stated that India’s dairy sector will not receive duty concessions under any Free Trade Agreements due to its sensitivity involving small farmers’ livelihoods. He emphasized that even with recent agreements like EFTA, dairy remains protected. Talks with Australia also highlighted this stance.
The Federation of Indian Export Organisations (FIEO) has urged the government to extend the interest equalisation scheme for five years to boost credit flow amid a 13-month decline in goods exports. The scheme, aiding MSME exporters, is set to end on September 30. FIEO also signed an MoU with Stenn to enhance SME financing.
Industry experts at the Indo-US Economic Summit called for lower tariffs and harmonisation of local norms to boost India-US agricultural trade. Key concerns include supply chain disruptions, absence of a free trade agreement, and local quality norms. Experts also emphasized sustainability, technology integration, and private sector participation to enhance productivity and export growth.
India’s removal of the floor price for basmati rice exports is expected to boost orders from the Middle East, Europe, and the Americas. This policy change allows Indian exporters to offer more competitive prices globally, potentially increasing export volumes. India’s basmati rice production is also anticipated to rise by 10-12% this year due to a […]
The Federation of Indian Export Organisations (FIEO) has urged the government to extend the interest subvention scheme for five years to boost credit flow and support exports. The scheme, set to end on September 30, provides interest benefits on pre- and post-shipment rupee export credit, aiding MSMEs facing financing challenges.