Govt allows 1,000 MT non-basmati white rice export to Namibia

In July 2023, the government had prohibited the export of non-basmati white rice but it had said exports would be allowed on the basis of permission granted to other countries to meet their food security needs and based on requests from those countries.

The newly elected Labour government of the UK announced the resumption of FTA negotiations with India, emphasizing economic growth and job creation. Business and Trade Secretary Jonathan Reynolds laid out plans for international trade deals and a trade strategy that aligns with the industrial strategy, economic security, and net zero goals.

As per a public notice issued by the Directorate General Of Foreign Trade (DGFT), exporters will now get additional time to submit installation certificates for imported capital goods, reducing pressure on businesses to meet timelines.

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.