Page 16 - India Trade

India and European Union likely to resolve ICT dispute by December

In June, they urged the WTO's dispute settlement body to mutually defer an appeal, which was pushed by 180 days - in two tranches of 90 days, each

MSMEs getting greater attention in free trade agreements: Govt official

The Micro, Small and Medium Enterprises (MSMEs) are getting greater importance in the upcoming Free Trade Agreements (FTAs) as these pacts provide huge opportunities for them to participate in global trade, a senior government official said on Thursday. Additional Secretary in the department of commerce Rajesh Agarwal said FTAs can enable better integration of MSMEs with global value chains. However, there are a few key challenges that need to be focussed on for the sector, including information asymmetry, access to affordable finance, reduction in regulatory burden, access to new markets, and capacity building through skill development programmes. "In every free trade agreement, we have talked about MSMEs, sometimes in paragraphs and sometimes in a full chapter As a country we will have to start putting in more and more weight around the work MSMEs can do and how they can be enabled to leverage the FTAs," Agarwal said in a event organised by industry chamber CII. The FTAs bring ..

India should be cautious on labour provisions in FTA negotiations: Experts

India needs to follow a cautious approach while negotiating labour provisions in free trade agreements (FTAs) as those could have potential repercussions on domestic manufacturing and overall trade competitiveness, experts say. International trade experts claimed that in a significant shift from its longstanding stance, India has begun to engage on labour issues in its trade negotiations with the UK, European Union, and the US-led Indo Pacific Economic Framework for Prosperity (IPEF). Inclusion of these issues in trade pacts could have negative impacts, they said, adding that the recent US presidential memorandum of Joe Biden on worker rights indicates a deepening focus on labour standards in trade deals. Negotiations are on fast track with a comprehensive trade agreement with the UK, which seeks to promote trade in goods, services and two-way investments. Think tank Global Trade Research Initiative (GTRI) Ajay Srivastava said that such provisions could erode the competitive advant

No deadline for UK FTA but working on a timeline: Commerce Secretary

Out of four pillars, India has joined three pillars - supply chains, clean economy, and fair economy (issues like tax and anti-corruption) and is an observer under the trade pillar

Festival gold rush widens India's trade deficit to new high in October

The services exports in October were valued at $28.70 billion as compared to $29.37 billion in September and imports were $14.32 billion against $14.91 billion in the previous month

India, Malaysia looking at reviewing 2011 trade pact: Malaysian FM

India and Malaysia are firming up a framework for conducting trade in national currencies and initiating a process to review the 12-year-old comprehensive economic cooperation agreement to include new domains and items, Malaysian Foreign Minister Zambry Abdul Kadir said. At the end of a three-day visit to India, Kadir told PTI that both sides are keen to expand trade engagement in new and emerging areas such as electronics, semiconductors, fintech, renewable energy, new technology and startups. Ways to further boost the overall trajectory of ties were discussed extensively during talks between External Affairs Minister S Jaishankar and his Malaysian counterpart on Tuesday night. Asked about India's long-pending demand to Malaysia to extradite fugitive evangelist Zakir Naik, Kadir did not give a direct reply and said Kuala Lumpur is keen on strengthening institutional mechanisms to boost security cooperation rather than focusing on any individual. Naik is facing a multi-agency probe

India-Russia new sea trade route plan in final stages of clearances

The Indian authorities have identified coking coal, crude, liquefied natural gas (LNG) and fertilisers as major commodities that will be traded in the route

UK officials pressured to drop IP law demands in India trade talks

Critics say the changes would damage India's position as a leading provider of generic drugs - essentially "copycat" versions of those which fall out of patent

Unprecedented rise in India-Saudi strategic relations

India's trade with the Arab world has already surpassed an all-time high of $240 billion a year

NITI Aayog working on plan to reduce reliance on China for supply chains

A senior government official was quoted as saying that the Aayog will bolster its policy recommendations on tariff and non-tariff barriers

Trade potential

India should reconsider its Rcep decision

Israel-Hamas conflict clouds loom over crude oil and LNG supplies

Iran getting drawn into Israel war could hamper nearly 80 percent of liquified natural gas flows to India

Israel-Hamas conflict: Jewellery, gems likely to lose sheen, say experts

The trade was already hit by almost 27 per cent from $2,794.39 million in 2021-22

Israel-Hamas conflict: Exporters remain wary of serious consequences

In case the conflict escalates, India's trade with Iran may be the biggest casualty

Israel trade with India doubled after Covid-19 pandemic, shows data

Petroleum products have been a key part of increased engagement

India-UK FTA talks gain steam: Commerce secy, team in London to push deal

Thirteen rounds of negotiations have been completed so far

'10 queries, no sales': Noida international trade show starts slows

Uttar Pradesh's first such event expected to get many more visitors over the weekend

Russia and Switzerland outliers amid contracting imports, shows data

Imports from Russia second-largest in April-August period, shows data

On trade, Delhi G20 improves over the Bali declaration

It is near certain that the United States is reluctant to clear the way for appointment of members to the appellate body and thus revive the dispute settlement mechanism at the WTO

Rupee settles near an all-time closing low as trade deficit widens

The surplus liquidity in the banking system fell to Rs 2,696 crore on Thursday ahead of the second tranche of Incremental Cash Reserve Ratio (I-CRR) disbursement on September 23