India and Bangladesh trade settlement in rupee will boost bilateral commerce: Sanjay Budhia

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 […]

India has deferred the introduction of its licensing requirement for the imports of laptops, personal computers and tablets by three months. While the Indian government has not specifically named China, over half of India’s annual imports of personal computers and tablets come from China. Other Chinese trade and investment ventures impacted by Indian measures since […]

Commerce secretary Sunil Barthwal Friday said India and Peru have decided to resume negotiations for a proposed free trade agreement (FTA). “We have decided to proceed with the FTA negotiations. We would be working out the priority areas… Post September, we will start engaging,” he said on the sidelines of India-Latin America and the Caribbean […]

In a notification issued late night, the Directorate General of Foreign Trade (DGFT) gave “liberal transitional arrangements” for such imports and said that its August 3 notification on import restrictions will be effective from November 2023.

Apple Inc., Samsung Electronics Co. and HP Inc. are among the biggest names freezing new imports of laptops and table​ts to India after the country abruptly banned inbound shipments without a license. Laptop makers had been bracing for some government measures aimed at reducing reliance on imports and boosting local production, but the sudden licensing […]