Page 2 - India Trade

Traders boycott Chinese goods, CTI asks Piyush Goyal to amend import policy

The Chamber of Trade and Industry (CTI) wrote to Union Commerce Minister Piyush Goyal urging him for a change in the import policy and to make it mandatory to write the country of origin on every item

Indo-US Trade Policy Forum meet likely to be held in early 2023

The India-US Trade Policy Forum (TPF) meet is expected to be held in the US early next year and both the countries are working on achieving a substantial agenda for the same, the commerce ministry said on Friday. The TPF is a premier forum to resolve trade and investment issues between India and the US. It has five focus groups -- Agriculture, Investment, Innovation and Creativity (intellectual property rights), Services, and Tariff and Non-Tariff Barriers. "13th ministerial TPF meeting is expected in early 2023 in the US and both sides are working on achieving a substantial agenda for the same," the ministry said. The meeting was deferred earlier in November due to local elections in both the countries. The last meeting of the TPF was held in November 2021 here after a gap of four years. In that meeting, it was decided to reconvene the TPF at the ministerial level before the end of 2022. In last year's meeting, India had asked for restoration of GSP (Generalised System of ...

Modi govt is sounding friendlier toward free trade for some nations

In recent months, senior Indian officials have insisted that their nation intends to integrate further with the global economy

India's Q3 current account deficit likely rose on widening trade gap: Poll

A revival in domestic demand in Asia's third-largest economy since the Covid-19 pandemic has also compounded the shortfall through higher imports

India and UK look to fast-track free trade agreement negotiations

Sixth round of negotiations begins in New Delhi after a four-month hiatus

World's play store: India scripts a local toy story, turns a net exporter

India is likely to extend the production-linked incentive (PLI) scheme to domestic toy manufacturers after Chinese toys were found to be "unsafe"

Govt asks banks, stakeholders to explore more countries for trade in rupee

Having facilitated rupee trade with Russia, Mauritius and Sri Lanka, the government has asked trade bodies and banks to explore such opportunities with more nations, sources said. Indian banks have already opened special vostro rupee accounts (SVRA) with banks of these three nations, operationalising the rupee trade arrangement. Recently, SBI Mauritius Ltd and People's Bank of Sri Lanka opened an SVRA with State Bank of India (SBI). In addition, Bank of Ceylon opened an account in its Indian subsidiary in Chennai. Union Bank of India has opened special rupee account of Ros Bank Russia while Chennai-based Indian Bank has opened such accounts of three Sri Lankan banks, including Colombo-based NDB Bank and Seylan Bank. In all 18 such special rupee accounts have been opened by 11 banks, including 2 of Russia and one of Sri Lanka, following approval from the Reserve Bank of India (RBI). The RBI issued detailed guidelines on cross-border trade transactions in the domestic currency in ...

We see trade with India growing two-fold in next 5 years: Ontario minister

In a Q&A, Victor Fedeli says several top Indian companies are continuing to build their presence in the Canadian province despite concerns of tighter global financial conditions

India has to compete to gain from 'China Plus One' strategy: Eswar Prasad

Companies, investors around the world looking at India's policy trajectory, says the professor of trade policy at Cornell University

Why does India continue to have an export problem? Sociology may answer

All kinds of policies have been tried to boost Indian exports, but nothing has worked. Maybe, sociology holds the answers

To 'make Amazon pay', Indian trade unions join Black Friday protest

Agitation part of global campaign against e-commerce firm

RBI permits banks to open 12 special vostro accounts for trade in rupees

So far, not a single overseas trade transaction directly involving the rupee has taken place

ECTA: The dawn of a new era in Indo-Aus relations

Indian exports and manufacturing will be equally benefited with the duty-free import of raw materials from Australia for their competitiveness

Make best use of India-Aus trade pact, Goyal tells steel industry

Commerce Minister Piyush Goyal on Tuesday urged the domestic steel industry to make best use of the India-Australia Economic Cooperation & Trade Agreement (ECTA) Agreement and look at capturing new opportunities in Australia.

HDFC Bank, Canara Bank get RBI approval for rupee trade with Russia

Three others got permission earlier, but no deal so far

Data Bill may not lead to India joining e-commerce deal at WTO

India has so far stayed out of a group of 87 countries, including the US, European Union, China, and Japan that are negotiating trade-related aspects on e-commerce since December 2017

Binding commitments on new issues in FTAs may hamper India's exports: Rpt

Taking binding commitments on new issues like environment, labour and sustainability in the proposed free trade agreements (FTA), being negotiated by India, may hamper the country's exports in the future, according to a report by Global Trade Research Initiative. India's already "weak" FTA outcomes may worsen if it takes obligations in the new issues, the report -- FTAs: Fabulous, Futile, or Flawed? An evaluation of India's FTAs with ASEAN, Japan and South Korea -- said. It added that like many developing countries, India has an evolving regulatory framework on most new issues. "International commitments must be taken only after the domestic regulatory framework is in place. And both must be in sync. New non-trade issues may serve as non-trade barriers and hamper our exports in the future," GTRI (Global Trade Research Initiative) report said. Developed regions like European Union and the UK are pushing to include these new issues in the proposed trade pact with India. Former India

Unwelcome reminder

Trade weakness would affect growth

India Stonemart 2022 exhibition gets enquiries worth Rs 1,200 crore

As many as 1,400 B2B (business-to-business) meetings were held with 116 buyers from 19 countries, and 30,000 visitors came to the show

Tax-authorities tighten noose around under-invoicing of Chinese imports

Tax authorities suspect a tax evasion of more than Rs 16,000 crore through under-invoicing by businesses from April 2019 to December 2020