Two cabinet notes on IPEF’s clean and fair economy soon

The commerce ministry finalises IPEF clean and fair economy notes, with India skipping the trade pillar. Focus areas include greenhouse gas mitigation, sustainable agriculture, decarbonising transport, anti-corruption, and tax transparency. IPEF nations (40% GDP, 28% trade) target supply chain resilience, critical production shift, cabinet notes completion, emission barriers reduction, and low-carbon financing. Caution against subsidised […]

The EU’s CBAM taxes 25% on India’s energy-intensive exports, impacting 0.05% of GDP, per CSE. Targeted goods: iron, steel, cement, fertilizers, aluminum. Exports to the EU made up 9.91% (2022-23). 26% aluminum, 28% iron, steel were EU-bound. CBAM-covered goods formed one-fourth of global exports. No hydrogen, electricity exported. Debates occur at UN climate conferences.

Fisher organisations from multiple countries express concerns about unfair restrictions on small-scale fishers in developing countries in ongoing WTO negotiations on fisheries subsidies. They advocate for moving the negotiations to the Food and Agriculture Organization for better treatment and sustainable management of marine resources.

The commerce ministry plans to establish a center for negotiations to enhance skills in areas like free trade agreements and business deals, Commerce Secretary Sunil Barthwal announced on Tuesday. Speaking at the Indian Institute of Foreign Trade (IIFT), Barthwal emphasized the importance of negotiation skills and indicated that the center will also develop these skills […]

The Global Trade Research Initiative (GTRI) has raised concerns over UAE’s precious metals imports to India under the CEPA, urging an investigation due to negative impacts on domestic industries and potential revenue loss. GTRI highlighted issues of tariff arbitrage, money laundering possibilities, and the need for a review of the agreement.

Commerce Secretary Sunil Barthwal aims to boost India’s e-commerce exports from $5 billion to $50-100 billion by September to catch up with China’s $300 billion. Hubs near airports and ports will support small producers with warehousing, customs, and returns processing. Involving DGFT, RBI, and ministries, the project targets $1 trillion in exports, focusing on ODOP […]

India’s platinum imports surged in June as dealers exploited a loophole by registering gold alloys as platinum to avoid higher duties. This led to revenue loss for the government and distorted market prices. The situation highlights the need for a review of import rules to prevent such practices.

India and the Eurasian Economic Union (EEU) are finalizing broad contours and terms of reference for a proposed free trade agreement. The five EEU members are Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. Chief negotiators have met and broad contours are being finalized. The scope and terms of reference are under stakeholder consultation in India and […]

India had started negotiations for a trade pact with the EU in 2007, but the talks stalled in 2013 as both sides failed to reach an agreement on key issues, including customs duties on automobiles and spirits and the movement of professionals.

BUDGET 2024 EXPECTATIONS: Ahead of the upcoming Budget, Finance Minister Nirmala Sitharaman, presenting for the seventh time, may introduce measures to strengthen India’s manufacturing sector and improve delivery routes. Key initiatives like Make in India, Production Linked Incentives, and National Logistics Policy are already boosting India’s global supply chain role.