India, Qatar identify local currency trade, customs cooperation as focus areas

Both sides identified several areas of focus for enhancing both bilateral trade as well as mutually beneficial cooperation sectors.

Budget Expectations: The US-India Tax Forum urges tax parity, corporate tax reform, and customs duty adjustments for Budget 2024-25. Essential proposals include capital gains tax changes, infrastructure investment, and sustainable development. The 350-member Forum stresses TDS/TCS tech use and ease of business. FM Nirmala Sitharaman will present her sixth Budget on July 23, during the […]

The UK’s Trade Remedies Authority (TRA) is conducting a transition anti-subsidy review on imports of polyethylene terephthalate (PET) plastics from India, evaluating whether the current nearly 13 per cent duties should be maintained. TRA, an independent body under the Department for Business and Trade, will assess the impact on the UK industry and determine if […]

India’s palm oil imports rose 3% in June to 786,134 metric tons, while soyoil imports fell nearly 15% to 275,700 tons and sunflower oil imports increased 13.4% to 465,647 tons. Total vegetable oil imports grew 1.4% to 1.6 million tons, according to the Solvent Extractors’ Association of India (SEA)

In June, India’s vegetable oil imports rose 18% to 15.5 lakh tonnes, led by crude palm and sunflower oils. Edible oil imports hit 15.27 lakh tonnes, non-edible 23,178 tonnes. Year-to-date, total imports fell 2%, refined oils 2%, crude oils 3%. Palm oil imports decreased; soft oil imports fell. India imports from Malaysia, Indonesia, Brazil, and […]

Shortly after Keir Starmer assumed leadership of the British government, Commerce Minister Piyush Goyal confirmed that the long-awaited Free Trade Agreement between the UK and India is on the verge of completion. This progress follows a telephone discussion between Prime Minister Narendra Modi and newly elected UK Prime Minister Keir Starmer, who secured a decisive […]

India’s seafood export industry, valued at $7.26 billion, is facing significant challenges due to a sharp rise in shipping freight rates. The Seafood Exporters Association of India (SEAI) has highlighted a surge of 4-5 times in rates within two months, attributing it to increased container demand in China ahead of US tariffs effective August 1. […]

At their meetings, Modi and Russian President Vladimir Putin discussed optimum use of the Northern Sea Route (NSR) via the Arctic and possible use of nuclear-powered icebreakers of Rosatom in that terrain, ET has learnt.

Minister Piyush Goyal stated a Group of Ministers will judge lifting the non-basmati rice export ban, effective July 20, 2023, based on demand and price. Rejected spice consignments, including MDH and Everest, involving carcinogenic pesticide, are minimal. Managed with FSSAI, ensuring India’s $56 billion food export quality. Indian exporters uphold quality standards.

Commerce and Industry Minister Piyush Goyal announced Wednesday that the European Free Trade Association (EFTA) is eager to invest in India, urging the domestic industry to seize this opportunity. Goyal, set to visit Switzerland on Sunday to advance EFTA commitments, emphasized that the $100 billion commitment is for foreign direct investments, not portfolio investments. EFTA […]