Page 17 - India Trade Policy

Fresh Canada investments in Indian renewable firms may slow down: Bernstein

Brookfield, another Canadian firm eyeing the Indian market, has an existing 4 GW portfolio. The company has invested $1 billion in Avaada Energy and $361 million in CleanMax

CTI urges Centre to ban lentil import from Canada amid heightened tensions

Delhi traders' body CTI on Monday urged the Central government to ban import of lentil (masur) from Canada, over Ottawa's allegations relating to the killing of a Khalistani separatist on Canadian soil. In a letter to Union Commerce Minister Piyush Goyal, the Chamber of Trade and Industry (CTI) said that there was a need to exert economic pressure on Canada. A growing dispute between India and Canada has erupted following allegations made by Canadian Prime Minister Justin Trudeau over the killing of Khalistani separatist Hardeep Singh Nijjar. Chairman of CTI, Brijesh Goyal, said that the development has sent ripples through the business world. Indian traders have demanded that India should ban import of lentils from Canada, which is a major supplier. "Canada is becoming a stronghold of Khalistanis and their anti-India sentiment was displayed by protests at the Indian embassy. However, Trudeau is making politically motivated statements in view of upcoming elections in Canada," he ..

Rupee appreciates by 38 paise to 82.75 against US dollar in early trade

The rupee appreciated by 38 paise to 82.75 against the US dollar in early trade on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment. Forex traders said the decision of JPMorgan Chase & Co to include Indian government bonds in its benchmark emerging-market index, is expected to have far-reaching implications for India's debt market and global investors. At the interbank foreign exchange, the domestic unit opened strong at 82.75, registering a gain of 38 paise from its previous close. On Thursday, the rupee consolidated in a narrow range to settle 2 paise lower at 83.13 against the dollar. India's inclusion in a major global bond index will open doors to increased foreign investment in the nation's debt market, traders said. "The inclusion of India in the JPMorgan bond index has had a favourable effect on the rupee, with the currency showing strength by appreciating around 0.42 per cent in the NDF markets and reaching levels around 82.80," CR .

Navigating the evolving trade landscape

In an era of shifting trade dynamics, India stands at the crossroads of opportunity, but being adaptable will be key

Govt seeks to allay concern over 'retaliatory' duty cut on US apples

In fact, the move will result in competition in the premium market segment, ensuring better quality at better prices for consumers

India, US to set up mechanism to enable steel exports at concessional rates

The additional tariffs had impacted $1.21 billion worth of India's exports of steel and aluminium to the US in 2018

India's rising Africa bet: FDI outflows at $14 billion, shows data

Total trade between African nations and India was almost $100 billion in 2022-23

India's restrictive trade policy is working great, but for Vietnam

One way to think about this is that India is first damaging its competitiveness, and then compensating firms to set up factories in the country

India, Britain could sign free trade agreement this year: Trade ministry

New Delhi sees an FTA with Britain as crucial to hopes of becoming a bigger exporter, while the UK would obtain wider access for its whisky, premium cars and legal services

Back to the new-old: West wind, East wind, or the warnings of a storm?

India has been well and truly bitten by the big-country bug, and is committed once more to import substitution-on-crutches, writes T N Ninan

Petroleum products dominate trade between India, France, shows data

France's share in India's total FDI remains modest

DPIIT identifies 106 companies from 30 countries for strategic investments

The Department for Promotion of Industry and Internal Trade (DPIIT) has identified as many as 106 companies across sectors from 30 countries under its strategic investment targets initiative, an official said. The initiative is aimed at promoting investments in the country. The initiative was recently discussed during a meeting convened by the Commerce and Industry ministry with industry and exporters. "An outreach was conducted through the ministry and meetings and video conferences are being set-up with leadership of these companies," the official said, adding that under the initiative, there is also a plan to engage with people of Indian origin (PIO). The government is taking a series of measures such as reducing the compliance burden, easing foreign direct investment norms, rolling out of logistics policy, announcement of production-linked incentive scheme for 14 sectors, and easing procedures through the national single window system to promote investments into the country. T

India best-performing in South Asia in terms of trade facilitation: UNESCAP

India is now the best-performing nation amongst all the countries of South Asian region in terms of trade facilitation, as per the United Nations Economic and Social Commission for Asia Paci?c's (UNESCAP) report. As per the Global Survey on Digital and Sustainable Trade Facilitation, India improved its score compared to 2021 survey. The 2023 survey, covering more than 140 economies and evaluating 60 trade facilitation measures, has positioned India at the forefront of global trade facilitation e?orts, with an impressive score of 93.55 per cent in 2023 vis a vis 90.32 per cent in 2021. The 2023 survey has recognised India's exceptional progress across various sub indicators, with the country achieving a perfect score of 100 per cent in four key areas: Transparency, Formalities, Institutional Arrangement and Cooperation, and Paperless Trade. These remarkable scores are a testament to India's relentless e?orts in streamlining trade processes, enhancing transparency, and promoting ...

India, Philippines decide to commence negotiations on bilateral trade pact

India and the Philippines on Thursday agreed to commence negotiations on a bilateral preferential trade pact and vowed to step up defence cooperation, especially in the maritime security domain, amid China's increasing muscle-flexing in the South China Sea. In the extensive talks between Secretary for Foreign Affairs of the Philippines Enrique A Manalo and External Affairs Minister S Jaishankar, the two sides also underlined the need for implementing the South China Sea verdict that was pronounced by a UN arbitration court in 2016. The defence and security ties between India and the Philippines are on an upswing. In January last year, the Philippines concluded a USD 375 million deal with India for the procurement of three batteries of the BrahMos cruise missile. A joint statement said both sides underlined that India and the Philippines have a shared interest in a free and open Indo-Pacific and emphasised the need for peaceful settlement of disputes and for adherence to internationa

Trade resents losses due to government's faults

It is now for the industry associations to agitate the matter before the government

Govt likely to announce retail trade policy, accident insurance scheme soon

The government is expected to announce a national retail trade policy and an accident insurance scheme soon with a view to supporting GST-registered domestic traders, an official said. The official said the proposed policy would help provide better infrastructure and more credit to the traders. It may include provisions related to ensuring easy and quick access to affordable credit, facilitating modernization and digitisation of retail trade; modern infrastructural support for subjects like distribution chain; promotion of skill development and improving labour productivity, and providing an effective consultative and grievance redressal mechanism. India is the world's fifth-largest global destination in the retail space. The commerce and industry ministry along with the department of financial services is also working on framing an insurance scheme for all the GST-registered retail traders. "The government is trying to do policy changes not only in e-commerce but is also bringing

'Rapid growth of trade is testament to bilateral ties of US-India'

The United States' becoming India's largest trading partner is testament to the strengthening of bilateral ties between the two democracies, an Indian American Congressman said Tuesday. The rapid growth of trade between the United States and India is a testament to the ties between our democracies growing stronger as our partnership increases both the prosperity and the security of our nations and the broader world, Congressman Raja Krishnamoorthi said. Even as the United States has become India's largest trading partner, it is essential that we continue to recognise the enormous potential for further growth to strengthen both of our economies and create American jobs, Krishnamoorthi said in response to recent news that the US has emerged as India's biggest trading partner in 2022-23.

Centre to come up with a single trade body to promote exports: Report

Last month, the Centre unveiled its new foreign trade policy (FTP 2023) setting a target of achieving $2 trillion in exports by 2030

India's new trade policy: Blinded by local market, a dry recitation of laws

India's trade policy remains blinded by its huge domestic market. This was underlined last week when the govt released its latest trade policy - three years late

Claims of rebound in global trade premature

The expected boost in shipments from China after relaxation of the Covid-19 restrictions has not materialised