Top headlines: India softens stance at WTO meet, what next after 5G & more

After nearly hitting a deadlock over fisheries subsidies, the 164 member nations of the World Trade Organization (WTO) forged a bouquet of deals in the wee hours of Friday in Geneva by significantly lowering their ambitions. Parle Agro, the makers of Frooti, might have to stop operating its plants making small tetra packs because the company fears the delivery of imported paper straws, made mandatory by the government, could be affected owing to global capacity constraints and logistical and distribution drawbacks

India softens stance to hammer out a "no harm" trade deal at WTO meet

After nearly hitting a deadlock over fisheries subsidies, the 164 member nations of the World Trade Organization (WTO) forged a bouquet of deals in the wee hours of Friday in Geneva by significantly lowering their ambitions. The four-day conference, which kicked off on Sunday, was scheduled to end on June 15. However, it was extended by two more days to push trade ministers to hammer out a deal to maintain a sense of purpose at a multilateral organisation that is fighting for its relevance. Read more

What next after 5G? Battle over delicensing of valuable 6-GHz band

Global tech companies are again bracing for a battle with Indian telecom companies, and this time it is over delicensing of the valuable 6-GHz band (5925-7125 MHz). This comes close on the heels of telcos losing out to tech companies, after the Union Cabinet gave clearance for private captive networks. Read more 

Putting it on paper: Closure of plants feared over plastic straw ban
 

Parle Agro, the makers of Frooti, might have to stop operating its plants making small tetra packs because the company fears the delivery of imported paper straws, made mandatory by the government, could be affected owing to global capacity constraints and logistical and distribution drawbacks. Apart from Frooti, its flagship juice brand, it sells apple drink Appy and flavoured milk range SMOODH in tetra packs. Read more

House panel seeks digital division in CCI to fix enforcement gaps

The Competition Commission of India (CCI) needs to strengthen its enforcement powers, the Parliamentary Standing Committee on Commerce has recommended, urging that a digital market division should be created within the antitrust body to bridge the existing gaps in enforcement of rules in digital markets. The committee has also suggested participation from all existing regulators concerned with e-commerce, such as the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Consumer Affairs, Food and Public Distribution, Ministry of Electronics and Information Technology, and Reserve Bank of India, in creating the expert division. Read more

India's foreign exchange reserves decline $4.6 billion to $596 billion

India’s foreign exchange reserves declined $4.6 billion to $596 billion for the week ended June 10, the latest data released by the Reserve Bank of India (RBI) showed. The fall in total reserves was mainly because of a decline in foreign currency assets worth $4.5 billion, the data showed. The central bank has been aggressively intervening in the foreign exchange market for the last few months. RBI has been selling dollars to curb any rapid depreciation of the rupee. Read more