India, US mutually resolve 2 trade disputes: WTO

“The circulation of the two panel reports is a formality given that the two sides reached mutually acceptable solutions to the disputes in July. The panel did not issue any findings on the claims made by them in the respective disputes,” said an official.

The PHD Chamber of Commerce and Industry has written to the Central Board of Indirect Taxes and Customs calling for a one-off amnesty scheme to resolve issues that arose from a new provision in India’s goods and services tax rules. The provision was designed to protect government revenue from exporters making refunds under integrated GST […]

Gujarat Minister for MSMEs, Cottage, Khadi and Rural Industries Balwantsinh Rajput said: “One of our key priorities has been to boost exports from Gujarat and through this partnership with Amazon, we aim to empower lakhs of MSMEs in Gujarat to embrace e-commerce exports.”

Thailand is unlikely to halt its rice shipments, as the country benefits from the suspension of Indian rice exports. Commerce Minister Jurin Laksanawisit has assured that the government will ensure a sufficient rice output for both domestic consumption and export. The country has shipped 4.8 million metric tonnes of rice in the first seven months […]

The Indian IT hardware industry wants the government to provide clarity on operational details for import licenses so they are able to make contingency plans, senior executives have said. The current lack of clarity includes details around quota, validity of licence, whether there is demand for single or multiple licences for different ports, and whether […]

CII national committee on EXIM Sanjay Budhia said that since all exports and imports and settlement of trade transactions under this arrangement may be denominated and invoiced in INR, this would also reduce dependence on the US Dollar and would address situations like scarcity of forex reserves apart from strengthening regional currency and trade.

India and the 27-nation bloc resumed negotiations on June 17 last year after a gap of over eight years on the proposed agreements on trade, investments and Geographical Indications (GI). 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 […]

Protecting the interest of domestic players, India has kept demands of Britain on data related issues and giving any kind of duty concessions on dairy sector out of the ambit of the proposed free trade agreement being negotiated between the two countries. The negotiation for the agreement has reached a critical stage and in all […]

Agricultural economist and NITI Aayog member Ramesh Chand has stated that India can export 20-22 million metric tonnes (MMT) of rice without any impact on domestic food security. The government has banned non-basmati white rice exports because the global demand had skyrocketed, and there was concern India could end up exporting over 30 million tonnes.

India’s July 20th ban on non-basmati rice exports has resulted in basmati prices soaring. The decision comes amid growing concern over late rice sowings and reduced production as well as inflation, ahead of key state elections and next year’s Lok Sabha elections. Non-basmati white rice accounts for approximately one quarter of total rice shipped out […]