Round 14 of India-UK FTA talks closes ahead of election schedule

The fourteenth round of free trade agreement (FTA) negotiations between India and the UK has concluded, with the next round expected to commence after the Indian general elections. The negotiations, which began in January 2022, aim to enhance bilateral trade, currently valued at around GBP 38.1 billion annually. Both sides remain committed to reaching an […]

Commerce Secretary Sunil Barthwal leads progressing India-UK FTA negotiations, aiming to enhance economic ties. Talks cover 26 chapters, including intellectual property rights, with bilateral trade data showing an increase to USD 20.36 billion.

India’s Feb goods exports hit $41.40 billion, 11.9% up, with a $18.71 billion trade deficit. Merchandise exports increased 11.9% year-on-year to an 11-month high of $41.40 billion in February, while imports increased 12.2% a four-month high of $60.11 billion, led by gold imports which went up 133% to $6.15 billion.

Oilmeals export in February rose 9% to 5.16 lakh tonnes, led by soyabean meal. Indian competitiveness faces threat from Argentina’s pricing, affecting export outlook. South Korea and Vietnam imports declined, showing shifting market dynamics.

Amid the threat of Houthi attacks on ships, a large share of diesel exports to Europe was diverted to transit via the Cape of Good Hope, avoiding the Red Sea and the shorter Suez Canal. The longer route means higher freight. This combined with weak east-west arbitrage helped attract more Indian diesel cargoes to Asia […]

To promote e-commerce exports, the commerce ministry’s arm DGFT in partnership with logistics services provider DHL will conduct training sessions and workshops for MSMEs in 76 districts of the country, a statement said on Thursday. The exercise is aimed at preparing MSMEs to tap the growing potential of increasing exports through e-commerce medium, the Directorate […]

​Exports below this MEP value will not be permitted. “Export of natural honey is free. Minimum export price (MEP) of USD 2,000 per metric ton is imposed till December 31, 2024, or until further orders, whichever is earlier,” the Directorate General of Foreign Trade said in a notification.

In its report, done in collaboration with the Foundation for Economic Development, the Aayog has proposed a series of measures including boosting e-commerce exports, creating a comprehensive trade portal, promoting ease of merchandise exports, improving access to export finance and creation of one stop information channel for exporters.

The year-on-year import of vegetable oils in February 2024 is down by 13 %, whereas the overall imports of vegetable oils during the first four months of the oil year from November 2023 to February 2024 are down by 21%, said SEA in a statement.

India’s vegetable oils import fell 13% YoY to 9.75 lakh tonne. Solvent Extractors’ Association of India stated that edible oils and non-edible oils imports decreased. Palm oil availability declined due to diverting it for biodiesel production.