Page 14 - Trade

Aveo Pharma suspects misuse of painkiller Tafrodol in importing countries

The company also clarified that the "stop production" order of Feb 24 was due to compliance issues under the Schedule M of the Drugs and Cosmetics Rules, 1945, and not due to the combination product

Govt allows exports of 100% broken rice to reduce record high stockpiles

India had banned exports of 100% broken rice in September 2022 and then imposed curbs on exports of all other rice grades in 2023 after poor rainfall raised concerns over production

WTO compliant trade tariffs meant for national development: FM Sitharaman

The trade tariffs running up to 100 per cent, consistent with the World Trade Organisation norms, are levied for national development and the growth of domestic industry, said Union Finance Minister Nirmala Sitharaman. Reacting to a query in defence of 100 per cent trade tariffs on some US imports, the finance minister said that tariffs are legitimate instruments. "So, when you are at a stage of development when your own industry has to grow, you will tend to make sure that, as per the WTO norms, whatever is the trade tariff which you can levy... you will levy. So that is how it's been happening and it is consistent as I said with the WTO," she said during a post-budget interaction in the port city on Thursday. Observing that trade tariffs prevailing today serve multiple purposes, such as protecting domestic industry, Sitharaman asserted that this protection will continue afterwards as well, and also emphasised on exports and the possibility of reaching newer markets. Referring to

Global coffee trade grinding to halt, hit hard by sharp price hikes

The coffee price hikes have stemmed from lower production in important coffee growing regions, particularly in top grower Brazil

BTA discussions: India eyes a bigger share of the US electronics market

In 2023, the share of US electronics imports from India was a mere 1.9 per cent of the $520 billion they imported. The total Indian electronics exports to the US was pegged at only $10 billion

BTA negotiations: India pushes for greater access to US organic market

Under mutual recognition agreements (MRAs) are bilateral pacts between countries, where they recognise each other's standards as well as the certification process

No reciprocal tariff reprieve for India, signals Trump in address to Cong

Analysts say possible measures by US could cost India $7 bn a year

Trade shutdown in Rajasthan deferred to March 23 by commodity traders

On February 22, crops, mainly wheat and mustard, in some regions, including Alwar, Bharatpur and Churu, were damaged due to rains and hailstorm

Donald Trump heads toward tariff barrage on Canada, Mexico, and China

The long-promised tariffs scheduled to take effect Tuesday would easily be among the most sweeping of the Trump era

China vows to take 'all necessary measures' against new US tariffs

Beijing's reaction came hours after Trump announced an additional 10% tariff would take effect March 4

Maersk plans to invest $5 bn, says India beacon for confidence in trade

India is not just a key market but a beacon and an opportunity for confidence in global trade, shipping giant Maersk said on Friday amid its plans to invest around USD 5 billion in ports, terminals, and land-side infrastructure development. The Danish firm, which for the first time named one of its vessels, Albert Maersk, at an Indian port, also said that it was ready to invest more in developing ports with low emissions and great efficiency. The name-giving ceremony of the newest dual-fuel methanol container vessel took place at the APM Terminal at Jawaharlal Nehru port as a part of the vessel's maiden voyage to India. Albert Maersk is the eleventh vessel in Maersk's fleet capable of operating on methanol. "India is the world's fastest-growing major economy, with a thriving manufacturing sector, a booming e-commerce industry, and expanding exports. This economic momentum stands in contrast to the stagnation of many other parts of the world, making India not just a key market, but

India's economic recovery likely clouded by global trade risks ahead

The Indian government has already lowered its GDP growth estimate for the current fiscal year through March to 6.4 per cent

India must rethink trade strategy as US pushes reciprocal tariffs

A systematic evaluation of all these measures, for almost 13,000 tariff lines traded by the US for each of its trade partners, seems like a near-impossible exercise to undertake

Australian exporters to save $2 bn in tariffs due to trade pact with India

The ECTA came into force on December 29, 2022. Under the deal, by value, over 85 per cent of Australian goods exported to India are now tariff-free

Australia to invest $16 mn in joint trade and investment fund with India

Australia boosts India trade ties with $16 million investment, aiming for growth in clean energy, education, agribusiness, and tourism while fostering deeper economic links

Efforts on to balance India-Japan trade by boosting exports: Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Friday said efforts are underway to balance bilateral trade between India and Japan by increasing exports. India's exports to Japan during April-January this fiscal rose by 21.12 per cent to USD 5.1 billion, while imports grew by 9.1 per cent to USD 15.92 billion, leaving a trade deficit of USD 10.82 billion in favour of Japan. In 2023-24, the country's export to Japan was USD 5.15 billion and imports were USD 17.7 billion. The trade gap was USD 12.55 billion. "Efforts are being made to balance trade between India and Japan, with a focus on increasing Indian exports to ensure reciprocal benefits," the commerce ministry said in a statement quoting the minister. This was stated by Goyal in his keynote address at the India-Japan Economy and Investment Forum. He also invited Japanese firms to increase collaboration in areas such as green energy, renewable energy, high-tech manufacturing of semiconductors, electronic goods, and artificial

Govt's electronics export goal faces US President Trump's tariff wall

The US is the largest market for India's electronics exports, accounting for 33 per cent of the total as of 2023-24 (FY24)

Govt readies steps ahead of likely bilateral trade deal with the US

Engaging with various departments, apprising them of sector-specific dynamics

India, Qatar upgrade ties, aim to double bilateral trade to $28 bn in 5 yrs

Bilateral talks held by Prime Minister Narendra Modi with Al-Thani on Tuesday focused on trade, investment, and energy, the Ministry of External Affairs (MEA) said

Industry body calls for broken rice exports as stocks hit nine times target

India banned exports of 100% broken rice in September 2022 and then imposed curbs on exports of all other rice grades in 2023 after poor rainfall raised concerns over production