The Prime Minister’s Office has directed the commerce ministry to review the existing model text of bilateral investment treaties (BIT) to enhance the ease of doing business. Currently, only seven countries have accepted this model, with many developed nations expressing concerns, particularly regarding dispute resolution provisions.
PMO asks commerce ministry to examine model text of investment treaty
“The visit by secretary (ER) is a reaffirmation of India’s commitment to further strengthen its ties of friendship with Rwanda, Uganda and Kenya and to maintain the momentum of high-level contacts between India and countries in Africa, post the entry of the African Union (AU) as a permanent member of the G-20 during the Indian […]
India renews essential commodities quota for Maldives, benefiting the construction sector. The bilateral agreement allows import of various items without export restrictions, strengthening trade relations between the two countries.
The bilateral trade between Singapore and India saw significant growth in 2022-23, reaching USD 35.6 billion, marking an 18.2% increase from the previous year. T Prabakar, the First Secretary (Commerce) at the Indian High Commission in Singapore, highlighted these figures at the Institute of Company Secretaries of India (ICSI) Third International Conference.
India has lifted export restrictions on nine products, including potatoes, onions, rice, wheat flour, and sugar, to the Maldives for the current fiscal year. This move, under a bilateral trade agreement, exempts these exports from any existing or future restrictions/prohibitions. The specified quantities allowed include items like potatoes, onions, rice, wheat flour, sugar, dal, stone […]
India’s merchandise exports have recorded healthy growth in European nations like Romania, Czech Republic, Montenegro, Finland, the Netherlands, Portugal, Luxemburg, Iceland, Ireland, and Austria.
India has permitted limited exports of essential commodities like sugar, wheat, rice, and onions to the Maldives, despite strained relations between Male and New Delhi due to increasing Chinese influence. The move comes amid Indian restrictions on exports to manage local prices ahead of elections.
New Delhi has submitted to the multilateral trade body that “promoting interoperability and interlinkages of digital payment infrastructures, including fast payment systems”, can be one of the means to achieve cheaper, faster and more transparent and accessible cross-border payments. The global average cost for sending remittances is 6.18%, higher than the sustainable development goal to […]
US hasn’t asked India to reduce Russian oil imports. No Indian entity sanctioned. Clarifications by US Treasury official. Ananta Centre discusses G7 price cap on Russian oil, emphasizing no restrictions on Russian oil trade.
The US has not asked India to cut Russian oil imports, stating that oil refined in India isn’t technically Russian. US officials emphasized limiting Putin’s profit by curbing Russia’s oil sales avenues. They noted that refined Russian oil sold to Western nations does not violate sanctions. India has informed the US of its intent to […]