Commerce Secretary meets Russian, UAE ministers on trade issues

Commerce Secretary Sunil Barthwal held bilateral meetings with Russian and UAE ministers to discuss bilateral trade issues for their early resolution, an official said on Sunday. Barthwal held these meetings on the sidelines of the 14th BRICS (Brazil, Russia, India, China and South Africa) Trade Ministers’ meeting in Moscow on July 26.

Maldives President Mohamed Muizzu expressed gratitude to India for supporting the island nation in easing its debt repayment. He emphasized hopes for stronger ties with New Delhi, including a potential free trade agreement. During his Independence Day address, Muizzu highlighted diplomatic successes, ongoing currency swap negotiations, and the need for economic sovereignty. Despite past tensions […]

The two nations had earlier been given time until September 19, 2023, then December 18, 2023 and then April 26, 2024 to resolve the dispute regarding New Delhi’s import duties on certain IT products. The two sides are currently engaged in resolving the dispute mutually. They had sought more time from the DSB to consider […]

Commerce Secretary Sunil Barthwal emphasised the need for strengthening the multilateral trading system with the WTO, the Ministry of Commerce and Industry said in an official release on Sunday.

REC Limited, a ‘Maharatna’ company under the Ministry of Power, has applied to open a subsidiary in Gujarat’s GIFT City to begin financing offshore projects. CMD Vivek Kumar Dewangan announced plans to start offshore financing this financial year. REC reported a 19% increase in revenue to Rs 13,023 crore and a 16% rise in net […]

G20 Sherpa Amitabh Kant has urged for a long-term predictability and consistency policy for the sugar sector, which he believes is crucial for India’s development as a developed economy by 2047. The sector contributes 1.1% to India’s GDP and plays a key role in reducing crude import bills, energy transition, circular economy, and achieving net […]

Since the UAE-India CEPA began in 2022, trade between the two nations grew by 16.41% from $72.87 billion to $84.84 billion. This cooperation boosted sectors like startups, food security, and renewable energy investments. Minister Al Marri highlighted the growth in sectors like gems, pharmaceuticals, and green energy. Approximately 11,000 new Indian companies registered in the […]

India’s trade deficit with China grew at a slower pace from 2014-15 to 2023-24 compared to the previous decade, highlighting government efforts to control excessive imports. Exports to China stood at $16.65 billion, with imports at $101.75 billion. Minister Piyush Goyal noted improved electronic components and mobile phone import reduction due to government’s initiatives.

India and the United Kingdom launched a new technology security initiative during the British foreign secretary’s first official visit to India, aiming to enhance economic growth and collaboration. The agreement involves cooperation on critical technologies like AI and telecoms, as well as strengthening ties in areas such as climate, trade, and education. Discussions also focused […]

Various inputs used in the manufacture of shrimp and fish feed will now enjoy customs duty exemptions, MPEDA said, adding a number of feed inputs such as mineral and vitamin pre-mixes, krill meal, fish lipid oil, crude fish oil, algal prime, algal oil are fully exempted from any import duty.