The India-UK Free Trade Agreement (FTA) is set to be signed after the UK’s elections on July 4. So far, 13 negotiation rounds have been completed, focusing on reducing tariffs and addressing regulatory concerns. Both sides aim to finalize the FTA to enhance bilateral trade, currently valued at GBP 38.1 billion annually.
India looks to sign FTA after UK elections, 8th round of talks soon
The data showed that the inbound shipments from China during the month were 2.82 per cent higher at USD 8.48 billion. Among the top 20 import source nations of India, imports from Saudi Arabia, Switzerland, Japan, Germany, Hong Kong, Australia and Malaysia recorded negative growth in May.
On the sidelines of the G7 Summit, Ukrainian President Volodymyr Zelenskyy met with Prime Minister Narendra Modi in Italy. “The President spoke about the functioning of the Black Sea transport corridor, which makes it possible to increase exports of sunflower oil to India and turnover of other categories of goods,” the Ukrainian president’s website read.
Terming May as an “excellent” month for exports, commerce secretary Sunil Barthwal said that the situation was looking more optimistic for trade this year, with even sectors such as textiles recording healthy growth after months of sluggishness.
India’s trade department said on Friday that the country’s car market is “well-protected” through high tariffs on the import of electric vehicles, at a time when other major economies like the European Union have slapped tariffs on Chinese EVs.
India’s palm oil imports surged by 11.6% in May compared to the previous month, reaching the highest level in four months, driven by its competitive pricing relative to rival oils, according to a statement by the Solvent Extractors’ Association of India (SEA). The increased palm oil purchases by India, the world’s largest importer of vegetable […]
India’s palm oil imports surged 74% to 7,63,300 tonnes in May from 4,39,173 tonnes as the world’s largest vegetable oil buyer stocked up to meet rising domestic demand, according to Solvent Extractors Association.
Tensions in the Red Sea region prompt US and Europe-bound exporters to shift to air transport via Gulf nations. Major companies like Zara use freighters, while others utilize cargo space in passenger aircraft. As sea routes become less favorable, exporters opt for quicker options to meet demand. Collaborative efforts are crucial for efficient cargo transport […]
In the interim Budget in February, the Commerce and Industry Ministry has recommended an outlay of Rs 3,489 crore for the Production Linked Incentive (PLI) scheme for toys to boost domestic manufacturing of the sector.
“They recalled the paragraph 45 of the Johannesburg II Declaration tasking the Finance Ministers and Central Bank Governors of the BRICS countries to consider the issue of local currencies, payment instruments and platforms and to report back to the BRICS Leaders,” according to the Joint Statement.