Page 14 - Trade Talks

The Diwali deadline

India-UK FTA needs to be expedited

Samvat 2080: Date, timing and importance and everything you need to know

Samvat 2080 signifies the start of the new Hindu year, and it can positively impact the Indian stock market. Muhurat trading details are important for investors during these hours

Goyal urges G7 members to collaborate to facilitate cross border trade

Commerce and Industry Minister Piyush Goyal on Saturday urged the countries participating in the G7 trade ministers meeting to enhance collaboration on a regulatory framework to facilitate cross border trade. The Group of Seven (G7) trade ministers meeting was held in Osaka, Japan. Under its G7 presidency this year, Japan has invited India, along with a few other invitee countries (Australia, Chile, Indonesia, and Kenya) to participate in the outreach programme held on October 28. In the meeting, Goyal urged the governments to collaborate on a regulatory framework to ease the movement of supply chains and facilitate cross border trade, an official statement said. He said the Covid-19 pandemic and geopolitical events have highlighted the vulnerabilities of the existing supply chains leading to increase in commodity prices and global inflation. The Russia-Ukraine war, conflict between Israel and Hamas and global economic uncertainties are impacting flow of goods across the world. ..

UK-India free trade deal poses risk for British millers Tilda and Veetee

British rice millers such as Tilda Ltd. and Veetee Rice have thrived for decades by importing low-tariff unmilled brown rice from the likes of India and Pakistan and "polishing" the grains

5th Indo-French dialogue: Proposals for collaboration in space and cyber

Earlier on Wednesday, Rajnath Singh visited the Safran Engine Division's R&D Centre at Gennevilliers near Paris, to see the latest developments in aero-engine technology

India, Peru to hold trade talks on furthering investments from Oct 10: Govt

The next round of negotiations for a trade agreement between India and South American nation Peru will start from October 10, an official statement said on Monday. The agreement is aimed at promoting bilateral trade and investments between the two countries. With the pact, the two trading partners will significantly reduce or eliminate customs duties on maximum number of goods traded between them. "A special round of negotiations for the India - Peru trade agreement is scheduled to be held virtually on 10-11 October," the commerce ministry said. During the negotiations, the two sides will discuss different issues, including rules of origin, trade in goods, customs procedures and trade facilitation, technical barriers to trade, sanitary and phytosanitary measures. "Discussions on services, movement of natural persons (professionals), trade remedies and investment chapter will be held later in the month based on mutual convenience of the negotiators," the statement said. Negotiation

India-Peru to recommence free trade agreement negotiation on Tuesday

There will also be discussions on services, the movement of people, and the investment chapter later in the month based on the mutual convenience of the negotiators

India, Tanzania to sign 15 agreements with eye on $10 bn trade: Makamba

India and Tanzania will sign 15 agreements covering different areas of cooperation, Tanzanian Foreign Minister January Yusuf Makamba said ahead of the bilateral talks between visiting President Samia Suluhu Hassan and Prime Minister Narendra Modi on Monday. The presidential visit from Tanzania to India is taking place after a span of more than eight years. "This is a very important visit for Tanzania. The big announcement we expect here is regarding the elevation of the bilateral relations into a strategic partnership. We expect that commitments on enhancement of trade and investment will be announced. We expect an announcement on about 15 agreements covering different areas of cooperation, both government to government but also with private entities," Makamba told PTI on Sunday. The Tanzanian foreign minister, who has already taken part in bilateral discussions with his Indian counterpart, S Jaishankar, is optimistic that India, as a significant partner in the Official Development

Sebi slaps Rs 55 lakh penalty on 11 entities for non-genuine trades

Capital markets regulator Sebi on Thursday slapped penalties totalling Rs 55 lakh on 11 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE. In 11 separate orders, the regulator slapped a fine of Rs 5 lakh each on Sanjay Kumar Agarwal HUF, Manoj Agrawal, Kanta Didwania, Harish Chandra Baldewa, Daksha Kirit Patel, Bestway Dealcom, Ziya Merchandise, S K Agarwal, and Sons HUF, Sumit Agarwal, Spectrum Technoprojects Pvt Ltd, and Sanjeev Mittal HUF. The orders came after the regulator observed large-scale reversal trades in the illiquid stock options segment on the BSE, leading to artificial volumes on the exchange. The Securities and Exchange Board of India (Sebi) conducted an investigation into trading activities of certain entities engaged in the segment from April 2014 to September 2015. The entities to be fined were among those who indulged in reversal trades. Reversal trades are non-genuine as they are executed in the normal course of trading

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 ..

Integrating GVCs can add $1.2 trn to India's foreign trade: GTRI report

Steps like streamlining port and customs operations, and setting up of national trade network will help Indian firms integrate with global value chains and add USD 1.2 trillion in the country's foreign trade by 2030, according to a report. The Global Trade Research Initiative (GTRI) said that currently, India's limited participation in global value chains (GVCs) hampers its export potential, despite possessing substantial manufacturing capabilities across various GVC-relevant product categories. The integration of Indian companies in the GVCs is fundamental as about 70 per cent of global trade operates within these chains, encompassing a wide range of products, from electronics and machinery to pharmaceuticals and apparel. "India's weak GVC integration can be attributed to poor trade infrastructure, causing delays at ports and customs, which are detrimental to the timely flow of goods in these intricate value chains," GTRi Co-Founder Ajay Srivastava said. Countries like China, Japa

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

Canada postpones October trade mission to India, offers no reason

This comes at a time when negotiations for a free trade agreement between India and Canada have been stalled, sources informed on Friday

CCI issues draft norms on combinations under amended competition law

Fair trade regulator CCI has issued draft rules pertaining to value of transactions for combinations under the new competition law. Earlier this year, various provisions of the Competition Act were amended. As per the draft norms issued by the Competition Commission of India (CCI), the value of transaction shall include "every valuable consideration, whether direct or indirect, immediate or deferred, cash or otherwise". These could also be in the form of covenant, undertaking, obligations or restrictions imposed on seller or any other person, other than acquirer, in the nature of non-competition or otherwise. It could also be for arrangements that are made as part of the transaction within two years from the date when the transaction is set to come into effect. These arrangements can cover a wide range of elements such as technology assistance, licensing of intellectual property rights, usage rights to any product, service or facility, supply of raw materials or finished goods, ..

Ahead of G20 Summit in New Delhi, Canada pauses trade talks with India

India's high commissioner to Canada confirmed that Trudeau's team initiated the pause, which was first reported Friday by the Canadian Press

India, UK to continue free trade agreement negotiations till Aug-end

Indian and UK officials will continue their negotiations till the month-end to iron out differences on the proposed free trade agreement (FTA), the commerce ministry said on Sunday. This meeting will be followed by a review at the higher level, it said. Following the G20 Trade and Investment Ministers Meeting (TIMM) at Jaipur, the progress of the negotiations was reviewed by Commerce and Industry Minister Piyush Goyal and UK's Secretary of State for Trade Kemi Badenoch on August 26. "Teams are going to continue negotiations till the end of August 2023 which will be followed by stock taking at the higher level, it said. While expressing satisfaction over the last 12 rounds of negotiations wherein several chapters have been finalized, both exuded confidence that the next round of talks to be similarly successful. "Both Chief Negotiators apprised the ministers about the current state of play, issues outstanding for resolution and their continuous joint efforts to iron out the same,"

Trade talks with UK progressing extremely well, says Piyush Goyal

The ongoing negotiations between India and the UK on a free trade agreement (FTA) are progressing "extremely well" and it is expected to conclude at an early date, Commerce and Industry Minister Piyush Goyal said on Thursday. He said both sides are confident that they will come out with a "very" balanced, equitable and fair agreement in the interest of businesses and people of both the countries. When asked about the UK's demand on import duty concessions on auto, whiskey and dairy products, he said India and the UK both are pressing hard for their requests and concerns. "There is hardly an issue on which we are not negotiating and I assure you that it will be a strong and hard outcome that will come out of all these negotiations... I believe we have to talk with sincerity, with speed but ensuring balance... and we are both committed to come up with a win-win solution for both countries. I hope it can happen at an early date," Goyal told reporters here. The UK team is here for the

India, Asean to intensify efforts to wrap up trade agreement review by 2025

India and the 10-nation bloc Asean on Monday said they have directed their officials to intensify their efforts to conclude the review of the existing free trade agreement in goods between the two regions by 2025. The issue was discussed during the twentieth AEM (Asean Economic Ministers)-India Consultation meeting, held at Semarang, Indonesia. According to a joint media statement, the meeting welcomed the progress of the review of the Asean-India Trade in Goods Agreement (AITIGA). It also endorsed the term of reference of the AITIGA Joint Committee, the Work Plan of the review negotiations and the negotiating structure. Both sides agreed to make the agreement more user-friendly, simple and trade facilitative for businesses to increase trade and support sustainable and inclusive growth. "To this end, the meeting encouraged the officials to intensify their efforts with the aim of achieving a substantial conclusion of the review in 2025," the statement said. The consultation was ..

From labour to IPR, non-trade issues may not be part of India-Canada deal

Early harvest agreement likely to be signed by year-end

Instant settlement of share transactions in the works: Sebi chief

Sebi is reviewing the framework of "trading plan" -- used by insiders to deal in the shares of their companies as required under the Prohibition of Insider Trading (PIT) Regulations