On 100-day agenda, Goyal said the commerce department and DPIIT were still working on it and it was a "work in progress"
'Hope to make progress in India-UK FTA irrespective of elections'
West Asian nation now India's largest source of silver imports
Exporters asked the government to firm up a strategy to deal with the issue of non-tariff barriers imposed by trade partners that ultimately hurts India's exports
They also sought simplification of transfer pricing regime and tweaking of Customs duty on certain products
Amid demands from industry bodies and govt departments, the upcoming Union Budget 2024 may see PLI schemes introduced for even more items
The charges may have to be paid by either the seller, or the buyer, or both
Calls for improved scrutiny to block instances of wrongful claims
Both nations had signed the interim trade deal, also known as India-Australia Economic Cooperation and Trade Agreement (ECTA) that came into force on December 29, 2022
In a bid to cut the delay in processing incentive claims, the government is looking at switching to a quarterly disbursement of incentives
Industry insiders say pharma players are taking advantage and stocking up on APIs
According to the European Commission, the new regulation aims to enhance the circularity, energy performance, and other environmental sustainability aspects of EU products
The scheme came into effect over three years ago to refund the embedded non-creditable central, state and local levies paid on inputs to exporters to boost India's exports
Under the CEPA, India allows 7 per cent customs duty concessions on import of unlimited quantities of silver and 1 per cent concession on 160 metric tonnes of gold
Exports to the European nation grew by a third to $1.37 billion in May. While the disaggregated data for the month of May wasn't immediately available
Apart from petroleum products, items that drove import growth include transport equipment (31.88 per cent), silver (408 percent), vegetable oil (27.5 per cent) and pulses (181 per cent)
The proposed free-trade agreement with Oman will restart soon, although talks are in the final stages, a government official said
Since India has been on a free trade agreement (FTA) signing spree, the platform will offer easy access to benefits under these agreements
Goyal was convening a review meeting with senior officers from the commerce and industry department
The jump in imports has been the sharpest in the case of gold jewellery parts that saw 30 times jump to $1.55 billion in FY24 from $51.51 million a year ago