Import approval system for IT hardware products extended till December 31

India has extended its import management system for IT hardware products like laptops and tablets until December 31, 2024. Importers must apply for new authorizations starting January 1, 2025. The move aims to monitor imports without disrupting market supply and encourage local production.

India’s gem & jewellery exports in August fell by 18.79% to USD 2012.51 million compared to last year. The decline is due to global consumption slowdown amid geo-political tensions. Exports of cut and polished diamonds, lab-grown diamonds, gold jewellery, and coloured gemstones also saw significant drops.

Commerce and industry minister Piyush Goyal has urged Australian pension funds to invest in India’s renewable energy, manufacturing, education, fintech, and agritech sectors. He highlighted India’s digitalisation growth and potential for collaboration in data infrastructure and coastal tourism during his visit to Australia. Goyal also discussed critical minerals sector cooperation with Tania Constable, CEO of […]

Indian refiners have cancelled 1,00,000 metric tons of palm oil purchases for delivery between October and December. This move follows New Delhi’s decision to raise import duties due to a surge in overseas prices. The cancellations may impact Malaysian palm oil prices and shift demand towards soyoil.

Commerce and Industry Minister Piyush Goyal announced plans to open Invest India offices in various countries to support foreign investors. The first office was inaugurated in Singapore, serving as a point of contact for regional companies. This initiative aims to deepen investment partnerships and facilitate global investor engagement with India’s economy.

Piyush Goyal will visit Australia from September 23-25 to meet with Indian and Australian CEOs and discuss investment opportunities. He will co-chair the 19th India-Australia Joint Ministerial Commission meeting in Adelaide on September 25, focusing on enhancing bilateral economic engagement in areas like critical minerals, manufacturing, and renewable energy.

Commerce and Industry Minister Piyush Goyal will meet Indian and Australian CEOs to discuss investment opportunities during his visit to Australia from September 23-25. He will co-chair the 19th India-Australia Joint Ministerial Commission meeting with Australia’s Trade and Tourism Minister Don Farrell, focusing on enhancing bilateral economic engagement.

Senior officials from India and the European Union will begin the ninth round of free trade agreement talks on Monday. The discussions aim to enhance bilateral trade and investments, addressing issues like carbon tax and deforestation regulations. Both sides will negotiate on goods, services, investment, and government procurement.

The Indo-Pacific Economic Framework for Prosperity (IPEF) negotiations have raised concerns about whether member countries, including India, could protect their interests. Issues include potential restrictions on tax policy, trading critical materials, and clean energy standards. Think tank GTRI stresses the need for flexibility to support local industries and avoid rigid international commitments.

Bangladesh’s interim government has decided to export 3,000 tonnes of hilsa fish to India for Durga Puja, reversing an earlier ban. The move follows appeals from exporters and continues a tradition of goodwill gestures during the festival. Hilsa is highly sought after in both countries, especially during this time.