India to extend sugar export ban to boost local supplies, ethanol output

India plans to extend its sugar export ban for a second year due to lower cane output. The government also aims to increase ethanol procurement prices to boost biofuel supplies. This move could tighten global sugar supplies and raise prices, especially with Brazil’s production expected to drop.

The India Middle East Europe Economic Corridor (IMEC) will enhance maritime security and reduce New Delhi’s reliance on specific routes, according to commerce minister Piyush Goyal. Speaking at the India Mediterranean Business Conclave 2024, he highlighted the potential for collaboration in tourism, renewable energy, and other sectors between India and Mediterranean countries.

India is reviewing its trade agreement with Malaysia due to a rising trade deficit, which has doubled since 2011. The review will focus on rules of origin and non-tariff barriers. Major exports include petroleum products and aluminium, while key imports are vegetable oils and electronics. Consultations with industry sectors are planned.

Indian exporters are preparing for the European Union’s new deforestation regulation (EUDR), which mandates that products exported to the EU must come from land not deforested after December 31, 2020. The regulation impacts various sectors, including coffee, cocoa, soya, wood products, rubber, and leather goods, and imposes fines up to 4% of annual turnover and […]

CapitaLand Investment’s Group CEO, Lee Chee Koon, highlighted India’s growth prospects and the company’s plan to double its funds in India. PM Modi’s reforms have accelerated CapitaLand’s growth over the past seven years. Other Singaporean business leaders also expressed optimism about investing in India’s digital and renewable sectors, praising the pro-business environment and ongoing reforms.

Commerce and Industry Minister Piyush Goyal will chair the Board of Trade meeting on September 13 in Mumbai. The meeting will discuss export-related matters and promote ease of doing business. Goyal emphasized the need for both central and state governments to collaborate in boosting exports, which will help create jobs.

The Swiss government has submitted its proposed free trade agreement with India to parliament, aiming to boost Swiss exports. The deal, involving the European Free Trade Association, includes lifting import tariffs on industrial products in exchange for $100 billion investment over 15 years. Parliamentary approval is pending.

Singapore has invested $150 billion in India and plans to invest five times more. Commerce Minister Piyush Goyal announced this at the All India Industries and Commerce Ministers conference. India also signed a free trade agreement with EFTA, securing a $100 billion investment commitment over 15 years.

Prime Minister Narendra Modi’s visit to Singapore highlights the growing importance of the semiconductor sector for India. During his trip, he will tour a semiconductor facility and engage in discussions with Singaporean leaders. This visit aims to strengthen bilateral ties and explore opportunities for collaboration in semiconductor manufacturing, talent development, and knowledge sharing. Singapore’s well-developed […]

The Free Trade Agreement (FTA) between India and the UK is nearing completion, with both sides just a step away from finalizing the deal, according to NITI Aayog CEO B.V.R. Subrahmanyam. Negotiations for the FTA, which began in January 2022 and were paused due to elections in both countries, aim to significantly boost the existing […]