Page 7 - India Trade

India-UK free trade agreement talks set for early 2022

A trade deal with India will open huge opportunities for UK, a UK government spokesperson said

India, Bhutan to have 7 more entry and exit points for trade: Govt

India and Bhutan will have seven additional entry and exit points for trade as part of measures to increase trade connectivity, the government said on Wednesday. The decision was taken at a commerce secretary-level meeting held between India and Bhutan on trade and transit issues here. The Indian delegation was led by BVR Subrahmanyam, Secretary, Department of Commerce, Ministry of Commerce and Industry and the Bhutanese delegation was led by Dasho Karma Tshering, Secretary, Ministry of Economic Affairs, Royal Government of Bhutan. "The two sides held extensive discussions on the current trade and transit issues, including measures to further strengthen bilateral trade relations and issues of mutual interest, on ways to increase trade connectivity between the two countries," an official statement said. Through Letters of Exchange, seven additional entry/exit points for trade between India and Bhutan were formalised, it added. These include Nagarkata Land Customs Station without ..

Post pandemic, global trade is vital for economic recovery: RBI governor

Need to increase investment in healthcare, infrastructure for sustainable growth post pandemic, says Shaktikanta Das at an AIMA event

India's trade with Afghanistan stalls but likely to resume soon: Industry

India's trade with Afghanistan has dried up, but industry officials said that the disruption was temporary and that it would be business as usual soon

Bilateral trade with Afghanistan to be hit due to uncertainty: Industry

A Delhi-based industry body on Wednesday said the change of regime in Afghanistan would impact India's trade relationship with the neighbouring country. The Chamber of Trade and Industry (CTI) in a statement said India and Afghanistan had a bilateral trade of about "Rs 10,000 crore" in 2020-2021. It includes goods worth Rs 6,000 crore being exported from India to Afghanistan, and products worth Rs 3,800 crore being imported from Afghanistan to India. Taliban fighters, who were removed from power in Afghanistan by US-led forces in 2001, have resurfaced again, taking control of most of the parts of Afghanistan on August 15, after the government there collapsed and embattled president Ashraf Ghani fled home, much like his fellow citizens. "In the current situation, bilateral trade between India and Afghanistan will be badly affected because in these circumstances the future is uncertain, shipments of people are stranded and payments of people can be stuck on a large scale. The Governme

SME Chatroom: Destruction of goods warrants reversal of input tax credit

Submit copies of correspondence with the buyer to the bank explaining the reasons for the inward remittance

Exports rise 45% to $22.4 bn during July 1-21: Commerce ministry data

The country's exports grew 45.13 per cent to $22.48 billion during July 1-21 on account of healthy growth in sectors such as gems and jewellery, petroleum and engineering

India sees significant improvement in UNESCAP score on trade facilitation

India has seen a "significant improvement" in the UNESCAP's Global Survey on Digital & Sustainable Trade Facilitation with a 90.32 per cent score. After evaluation of 143 economies, the Survey 2021 has highlighted India's significant improvement in the scores on all five key indicators -- transparency, formalities, institutional arrangement and cooperation, paperless trade and cross-border paperless trade. India has scored 90.32 per cent in the global survey on Digital and Sustainable Trade Facilitation. This is a remarkable jump from 78.49 per cent in 2019. Under the transparency indicator, the country scored 100 per cent in 2021, up from 93.33 per cent in 2019. The score for 'paperless trade' improved to 96.3 per cent in 2021, from 81.48 per cent in 2019. The score in the institutional arrangement and cooperation indicator improved to 88.89 per cent, from 66.67 per cent in 2019. In a statement, the Finance Ministry said that India has seen "significant improvement" in the score

India's exports rise to all-time high of $95 billion in June quarter

The merchandise exports grew 47 per cent YoY to $32.46 billion in June, driven by a robust demand of engineering goods, petroleum products, and gems and jewellery in the external markets.

DGTR puts up anti-absorption draft norms

The DGTR has framed the draft rules outlining the processes that will be followed for conducting the necessary investigations

Hopeful for early decision on TRIPS waiver proposal at WTO: Comm Secy

India on Friday expressed hope for an early decision in the WTO on a proposal of India and South Africa for a temporary waiver of certain intellectual property rights provisions in the TRIPS agreement

Commerce ministry starts Covid-19 helpdesk to resolve import, export issues

This relates to issues such as customs clearance delays and banking matters

Exports rise to $13.7 billion during Apr 1-14: Commerce Ministry data

Healthy growth rate in sectors such as engineering and gems and jewellery helped

Exports up 60% in March at $34.5 bn, but decline by 7% in FY21: Govt data

Trade deficit during March 2021 widened to $13.93 billion from $9.98 billion in March 2020

RBI's accommodative policy stance reassuring to industry, trade: Chambers

The Reserve Bank of India's decision to continue with the accommodative policy stance is reassuring to the industry and trade, according to chambers

India, UAE, Israel's trilateral trade could reach $110 bn by 2020: Report

Tapping into the mutual strengths of India, Israel and the UAE could propel the trilateral trade between the countries to a high of $110 billion by 2030, said top diplomats

Engineering exports jump 70% in March marking a major rebound

Exports of engineering goods from the country recorded an impressive 70.28 per cent growth in March.

India declines to comment on Pakistan's flip-flop on bilateral trade

India on Friday declined to comment on Pakistan's flip-flop on plans to go for limited imports of sugar and cotton from the country.

Pakistan's Cabinet makes U-turn on plan to resume trade with India

The India-Pakistan cease-fire marked a milestone in secret talks brokered by the UAE, Bloomberg reported earlier this month

Suez Canal blockage likely to impact India's trade, say analysts

Great Eastern Shipping is still evaluating the impact, said a source close to the development