“The drafting process deviates substantially from the accepted practice at the WTO,” India, South Africa and Egypt said, adding that the “format and pace of the discussions have made it challenging” for most developing countries to effectively participate, consult with capitals, present their views, submit comprehensive proposals and review the progress.
Require multilateral discussion under a WTO body, say India, South Africa and Egypt
As local exotic flowers bloom, imports wilt
2 years ago
Among the much-in-demand blossoms, India’s production of chrysanthemums rose 136% from FY16 to 470.15 tonnes in FY22, while that of orchids was up 210% over the same period. On the other hand, India’s imports of fresh and dried flowers, flower buds, bulbs and tubers almost halved during FY15 to FY23.
Process afoot to capture MSME trade data
2 years ago
Anil Bhardwaj, secretary general, Federation of Indian Micro and Small & Medium Enterprises (FISME), said that product-wise data will help industry gain concessions in India’s free trade agreement negotiations and help improve its market access, policy making and competitiveness. This assumes significance as many of India’s FTAs have separate chapters on MSMEs. “We will get […]
India-Japan’s External Affairs Minister, S. Jaishankar, highlighted the growing partnership between the two countries at the 6th India-Japan Indo-Pacific Forum. The partnership includes various initiatives such as the Quad, supply chain resilience initiative, clean energy partnership, semiconductor supply chain partnership, and the Indo-Pacific Economic Framework for Prosperity (IPEC).
Govt needs to reduce import duties on inputs, capital goods to lessen need for export schemes: GTRI
2 years ago
India’s Global Trade Research Initiative (GTRI) suggests that reducing import duties on inputs and capital goods could help reduce the need for many existing export schemes. The think tank argues that many countries, including major trade partners like the EU and the US, view Indian schemes as subsidies and “punish” exporters by charging countervailing duties.
“To enable micro, small and medium enterprises (MSMEs) and boost e-commerce exports from the country, DGFT is collaborating with the various e-commerce players to leverage the Districts as Export Hubs initiative and promote e-commerce exports from the country,” the ministry said in a statement.
“Where onion consignment has been handed over to the customs before October 29, 2023… and is registered in their system/ where onions consignment has entered the customs station for exportation before this notification and is registered in the electronic systems of the concerned custodian of the customs station with verifiable evidence of date and time […]
India’s approach to negotiating labour provisions in free trade agreements (FTAs) is being questioned by experts, as it could potentially impact domestic manufacturing and trade competitiveness. India has begun to engage on labour issues in its trade negotiations with the UK, European Union, and the US-led Indo Pacific Economic Framework for Prosperity (IPEF).
“The 75 products have been identified from nine most promising sectors. These products contribute around USD 222 billion, which is around 50 per cent of India’s total exports. At the global level, these 75 products have significant presence in world exports, whereas India’s share of these products is only 6 per cent of the total […]
Indian buyers have halted palm oil purchases for December and January due to rising prices and negative margins from heavy imports. This could lead to higher palm oil stocks in Indonesia and Malaysia. The landed cost of crude palm oil for December shipments is 77,500 rupees per metric ton, while already imported oil is offered […]