Page 20 - India Trade Policy

India committed to improve trade facilitation: Nirmala Sitharaman

The Centre is committed to improve trade facilitation for every stakeholder, including Customs Department personnel and those involved in the trading communities, said Union Finance Minister Nirmala Sitharaman here on Sunday. Beyond construction of a new building, these days emphasis is also given on how energy-efficient the buildings would be so that there is no pollution or disturbance to anyone, she said at an event here. "I am extremely happy to lay the foundation stone for new office complex 'Vaigai' which is aptly named and actually comes out of the commitment that the nation has made to improve trade facilitation", Sitharaman said at the foundation stone-laying ceremony of new office complex 'Vaigai' at Customs House here. "There was a time when we thought that we have to build office space based on officers, staff and requirements. These days, it is also looking at how green our buildings are going to be, and how energy-efficient these buildings will be," she said. "In tra

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 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

Trade settlement in rupee: Govt, RBI devise country-specific plan

To start with, a small number of banks will be allowed to manage cross-border transactions in domestic currency with a particular country

India-Australia free trade agreement to come into force from Dec 29

Trade between the two countries is expected to cross $45-50 bn in five years

US industry associations red-flag India's 'restrictive' trade barriers

The Association raised concern over use of strict quality control orders during the pandemic that effectively limited imports of US-designed and manufactured products in various sectors

Statsguru: Six charts show India is rapidly on FTA-signing spree

The Australian Parliament ratified the ECTA with India on November 22, as a stepping stone to a more ambitious CECA

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

RBI, UAE central bank discuss mechanism to trade in local currencies

Negotiations between India-GCC FTA expected in Jan-March quarter

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

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

Next round of India-UK trade agreement talks in coming months: Com ministry

The next round of talks between India and the UK on a proposed free trade agreement, which aims at boosting trade and investments between the two regions, is proposed to be held in the coming months, the commerce ministry said on Tuesday. India and Britain launched negotiations for the free-trade agreement (FTA) in January with an aim to conclude talks by Diwali (October 24), but the deadline was missed due to political developments in the UK. There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights. According to sources, the ministry has now fixed an internal deadline to conclude the talks on the trade agreement by March next year. Reduction or elimination of customs duty under the pact would help Indian labour intensive sectors like textiles, leather, and gems and jewellery to boost exports in the UK market. The UK is seeking duty concessions in areas like Scotch whiskey and automobiles. According to a presentation made b

India may stop releasing early trade data estimate, says official

The move aims to dispel any confusion over divergence between the two sets of data, federal trade secretary Sunil Barthwal told reporters in New Delhi

Best of BS Opinion: Pricing pressure, Congress votes for status quo, & more

Here is the best of Business Standard's opinion pieces for today

India's trade policy challenges in a changed world

A slowdown in global trade is nothing new, but the cumulative impact of unprecedented and unforeseen events requires a new policy approach from India

India-UK FTA: India unlikely to commit on labour, environment issues

Trade experts said that it will be interesting to see if the UK will be willing to sign the trade deal, without India giving any commitments on the new-age trade issues

New twist to rivalry as Kirloskar siblings trade charges over legal fees

Sanjay Kirloskar-led Kirloskar Brothers Ltd refutes claim made by siblings Atul and Rahul that the firm paid Rs 274 crore in professional and legal expenses

India pushes for settlement of international trade in rupee with Sudan

In July, the RBI had unveiled a mechanism to settle international transactions in rupee to promote the growth of global trade, with emphasis on exports from India

Govt considering forming units to build expertise in Free Trade Agreements

The objective of building dedicated units in the FTA areas is to enable India to negotiate deals with other nations at the World Trade Organization from a position of strength

Dip in demand from China, Italy may have hit India's merchandise exports

India's merchandise exports contracted 3.5% to $33.6 bn in September