“(Mobile phones worth) $11 billion were exported last year. In the coming days, you will see exports to the tune of $50-60 billion. 10 lakh people work in electronics manufacturing. In the coming days, 25 lakh people will work in electronics manufacturing,” Vaishnaw said while sharing a presentation on India’s growth story.
Mobile exports to grow to $50-60 billion, says IT Minister Vaishnaw
India is the world’s largest centre for diamond cutting and polishing, accounting for around 95 per cent of the world’s polished diamond production, while the US and China are the primary consuming markets, together accounting for around 65 percent of the country’s exports.
Switzerland had sought duty concessions on inbound shipments of gold, which accounts for about 80% of India’s total imports from Switzerland. Quota based concessions to Switzerland are crucial as India has already extended 1% duty concession to gold importers under tariff rate quota in its trade pact with the UAE.
The Indian government has allowed exports of onions to Bahrain, Mauritius, and Bhutan through National Cooperative Exports Limited, following a ban on onion exports until March 31 last year. The Director General of Foreign Trade has also amended the Import Monitoring System (IMS) registration procedures for yellow pea imports after March 31, 2024, requiring Bill […]
India may give quota-based duty concession on gold imports from Switzerland under EFTA trade pact
2 years ago
India is considering quota-based duty concessions on gold imports from Switzerland as part of a proposed free trade agreement with the European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland. India seeks a USD 50 billion investment commitment from EFTA members over the first ten years post-agreement and an additional USD 50 billion […]
The Reserve Bank of India has reportedly urged major state-owned oil refiners, including Indian Oil Corp., Bharat Petroleum Corp., and Hindustan Petroleum Corp., to persuade Persian Gulf suppliers to accept at least 10% of oil payments in rupees in the next financial year. The move aims to boost the Indian currency in international trade and […]
India and the UK are in the final stages of negotiating a free trade agreement, with most talks completed at the negotiator level. The UK wants access to India’s government procurement and a bilateral investment treaty before a trade pact. India’s demand for more visas for workers and a social security agreement has been accepted […]
Lower purchases by India, the world’s biggest importer of vegetable oils, could weigh on benchmark Malaysian palm oil futures, but will help to reduce sunflower oil inventories in the Black Sea region.
Union Minister of State for Agriculture Kailash Choudhary was present at the inaugural event and visited an exhibition stall at the Indian Agricultural Research Institute (IARI), Assam. According to an official statement, Munda said Prime Minister Narendra Modi has special emphasis on the development of the Northeastern region. He said the central government has done […]
The Indian government has permitted exports of 30,000 tonnes of non-basmati white rice to Tanzania and 80,000 tonnes of broken rice to Djibouti and Guinea Bissau. The exports are allowed to meet the food security needs of these countries.