Page 4 - Trade

Rupee trade with few nations may start, internationalisation will take time

Negotiations are on with Russia, Cuba and Sudan among others to do so. Officials are hopeful that Saudi Arabia, UAE and Luxembourg would also come on board

UCO Bank, Yes Bank in talks with Russia to finalise trade mechanism: Report

Indian lenders UCO Bank and Yes Bank are in talks with their Russian counterparts over a payment mechanism for trade between the two countries

Tussle over secrecy delays trade data compilation by Commerce Dept: Sources

The development comes in the backdrop of India's merchandise exports witnessing 4.8 per cent year-on-year rise to $35.45 billion in September

RBI's currency intervention ends up hurting rupee carry trade: Analysts

The Reserve Bank of India's currency intervention is making the rupee less attractive for carry traders, analysts said.

Development at Gujarat port will drive efforts to make India trade hub: PM

Prime Minister Narendra Modi said Wednesday the Union Cabinet's approval to develop a container terminal at Tuna-Tekra, Deendayal Port, in Gujarat is an important decision, which will drive India's efforts to become a hub for trade. "An important Cabinet decision, which will drive India's efforts of port-led development and becoming a hub for trade. This decision will also benefit many states which do not have access to the coastline," he tweeted. The Cabinet approved a proposal to develop a container terminal at Tuna-Tekra, Deendayal Port, in Gujarat under the public-private partnership mode. The estimated cost of Rs 4,243.64 crore will be on the part of the concessionaire while common user facilities of Rs 296.20 crore will be on the part of the concessioning authority. Reacting to other Cabinet decisions, Modi said the nod for the Prime Minister's Development Initiative for North East Region (PM-DevINE) will add impetus to the growth trajectory of the Northeast and provide numer

Statsguru: Six charts show mounting trade troubles amid uncertain outlook

WTO also revised global growth figures downwards. It now expects the world to register a 2.3 per cent growth, compared to the April estimate of 3.2 per cent for 2023

Ahead of festive season, retail credit growth nears 20% in August

Credit growth to the services sector accelerated to 17.2 per cent in August 2022 from just 2.1 per cent a year ago. It was mainly due to improved credit off-take to NBFCs and trade sectors.

Event business relations between India, South Africa from next month

As business gathers steam after over two-year COVID-19 lull, an event to be held here next month will shift the focus back on improving the trade relations between South Africa and India, especially in the small and medium business enterprise sectors. Organised jointly by the Consulate General of India, Johannesburg in association with leading South African bank Nedbank and networking company Yobuning, the event, to be held on October 14 and titled India-South Africa: Growing Together', will bring together representatives of many companies in South Africa and local entrepreneurs. Announcing the event here on Thursday, India's Consul General in Johannesburg Anju Ranjan said the focus would be not only on doing more business with India but also on the Indian companies to help their South African counterparts grow, which would then benefit both countries. The event is aimed at business-to-business networking and to discuss opportunities and challenges in the key sectors of the two ...

Shehbaz Sharif-led govt wants to resume trade ties with India: Imran Khan

Pakistan's former prime minister Imran Khan said on Sunday that his government had snapped trade ties with India after New Delhi revoked the special status of Jammu and Kashmir in 2019 and claimed that the Shehbaz Sharif-led government wanted to resume it. Addressing a rally in Karak, Khyber Pakhtunkhwa, 69-year-old Khan also said that Pakistan Muslim League-Nawaz Vice President Maryam Nawaz was "incapable of telling the truth" as he once again accused her of keeping nepotism above national interests. "Maryam wants to import power plant machinery from India for her son-in-law," he said, while referring to a audio leak in which Prime Minister Sharif is allegedly being told that Maryam's son-in-law wants to import a power plant from India. "Our government had stopped trade with India because itended the special status of Kashmir," Khan said, adding that the present imported rulers wanted to resume trade relations with India at the cost of Pakistan's integrity and solidarity. In recen

UCO Bank becomes first lender to get RBI's approval for rupee trade

Many banks in India are planning to open such special vostro accounts for settling trade transactions with other nations

Sebi working on new ASBA-like payment system for secondary trades: Buch

Sebi's planned move could upend Rs 30,000-crore broking industry

G7 nations to take tougher stance on trade with China: German official

The Group of Seven major economies have agreed to take a tougher, more coordinated stance toward China when it comes to trade, Germany's economy minister said Thursday. After a two-day meeting with fellow G-7 officials, Minister for Economic Affairs and Climate Protection Robert Habeck told reporters that discussions about China were part of an effort to ensure high international trade standards and to prevent Beijing from using its economic might to steamroll other nations. The naivety toward China is over, Habeck said, referring to Germany's own position on China. The time when one said Trade, no matter what,' regardless of the social or humanitarian standards, ... is something we shouldn't allow ourselves anymore. He said Germany would work to persuade the European Union to establish a more robust trade policy toward China and respond as Europeans to the coercive measures that China takes to protect its economy. The other partner countries will do exactly the same, Habeck said,

India's trade with Russia in rupees to start soon, says FIEO's President

Indian companies are already swapping out dollars and euros for Asian currencies to settle trades to avoid Western sanctions on Russia

India opts out of trade talks with a US-led group of Asian nations

Known as IPEF, the initiative is an effort by President Joe Biden's administration to deepen ties with Asian nations through a range of issues including trade, climate change, supply chains and tax

CEPA: When it comes to trade with Bangladesh, India is far behind China

China accounted for 10.2 per cent of FDI investments in Bangladesh between 2014 and 2021, India's share was 3.9 per cent

RBI releases 'alert list' of 34 entities barred from forex trades

List not exhaustive, must not assume those not on it are authorised for such trades

NCVT MIS ITI Result 2022 released today; here's how to check your marks

The candidates can check and download NCVT MIS ITI scorecard on the official website- ncvtmis.gov.in

Pakistan to consult coalition partners on importing goods from India: FM

Pakistan's Finance Minister Miftah Ismail said on Wednesday the government will consider importing goods from India after consulting its coalition partners and key stakeholders, as the cash-strapped nation seeks to stablise soaring food prices triggered by flash floods that have wrought havoc across the country. The idea to import edible goods from India was first floated by the finance minister on Monday, when the country's death toll crossed 1,100 and hundreds of thousands of people were displaced, and thousands of acres of crops were destroyed. More than one international agency has approached the govt to allow them to bring food items from India through the land border. The govt will take the decision to allow imports or not based on supply shortage position, after consulting its coalition partners & key stakeholders, Ismail said in a tweet. Meanwhile, Pakistan has decided to import onions and tomatoes from Iran and Afghanistan in the wake of an impending food crisis triggered

Goyal reviews ongoing FTAs; deliberates ways to fast track negotiations

India is currently negotiating trade deals with developed nations such as the United Kingdom (UK), Canada and the European Union (EU).

Will consider importing vegetables, other edible items from India: Pakistan

It looks to import vegetables and other essential food items amid devastating floods