The Reserve Bank of India (RBI) has approved 34 applications from different Russian banks for opening special rupee vostro accounts in 14 Indian commercial lenders as of July 2, Parliament was informed on Wednesday. India’s trade with Russia has been affected by difficulties in payment due to western countries’ sanctions on major Russian banks, Minister […]
RBI nod to 34 applications from Russian banks to open accounts: Govt to Parl
Russian wheat may shore up domestic stock
2 years ago
Prices have risen as the government has imposed stockholding limits and sold the grain in the open market to traders amid concerns about a shortfall in domestic production.
India and the UK are close to finalizing a free trade agreement (FTA), with the 12th round of talks set to take place in August. The talks are expected to cover issues such as investment, reduced duties on autos and whiskey, and trade in services. Of the 26 chapters in the proposed FTA, 19 have […]
Rice exporters have approached the commerce ministry over the ban on the export of non-basmati rice, saying that many of them have letters of credit from foreign buyers and if they do not fulfil the contracts, they could face international arbitration. Failing to fulfil export commitments could also hurt India’s image in the global markets, […]
‘India should prepare its exporters to deal with compliance norms of EU’s deforestation regulation’
2 years ago
“Indian exports may take a bigger hit than exports from other competing countries to the EU because of India’s higher deforestation rate,” the report said, adding India’s exports will also be affected by the complex compliance requirements of the EUDR and the EU’s Foreign Subsidies Regulation (FSR).
A TOI report on Monday showed that this $1 difference in the MIP could lead to a significant bump in the shipment of popular brands like Johnnie Walker Black Label and Chivas Regal into India. Domestic players are of the opinion that India should agree to an MIP of $4 a bottle, instead of $5 […]
Manipur is famous for fabrics like moiraingphee, leirum, lasingphee and phanek, which have good demand in the US, Europe and Singapore.
The finance, commerce and industry ministries have firmed up the contours of Development of Enterprise and Service Hubs, or DESH, which could allow companies to defer their import duty liabilities, among other concessions, officials privy to the deliberations told ET.
India is hoping to conclude free trade agreements (FTA) with Canada, UK and European Union (EU) in the next few months to revive and promote exports, according to Commerce and Industry Minister Piyush Goyal. He urged manufacturers to focus on quality and sustainable manufacturing processes to capitalize on business opportunities in the developed world.
While the Government of India is still grappling with this new legislation — a bolt from the blue when New Delhi is engaging with the 27-nation bloc to craft a favourable free trade agreement (FTA) — Indian exporters will have to bear the brunt of it, especially those shipping commodities such as coffee, leather hide, […]