Page 8 - Trade

Small tea growers ask Centre to set up fair price discovery mechanism

Small tea growers, who contribute more than 50 per cent to the crop production of the country, have urged the Centre to set up a fair and transparent price discovery mechanism so that they can realise a proper value by selling leaves to factories. In a letter to Commerce Minister Piyush Goyal, the Confederation of Indian Small Tea Growers Associations (CISTA) suggested a price protection scheme modelled on the lines of the minimum support price (MSP). It said the Tea Board should undertake a detailed study to determine an equitable price-sharing ratio between small growers and factories. Small growers are facing the persistent challenge of poor price realisation, which is undermining the sector's sustainability, CISTA president Bijoy Gopal Chakraborty said. Small growers contribute more than 52 per cent to the country's tea production, and a proper price realisation mechanism should be identified so that livelihoods are sustained, he said. Chakraborty said the association has alre

PM Modi holds talks with Namibia President; digi tech, defence in focus

Lula backs India's push to expand Mercosur trade pact

PM Modi concludes visit to Brazil, sets $20 billion trade goal: Key highlights | India-Brazil

Prime Minister Narendra Modi has concluded his two-day visit to Brazil, where he and Brazilian President Luiz Inácio Lula da Silva discussed key issues across strategic sectors

Viable to export out of India; clarity on global trade needed: Cisco

Global tech major Cisco believes that India is a "viable" hub for exports, but made it clear that it will wait for clarity on global trade policies before deciding to invest more here. The San Jose-headquartered company's chairman and chief executive Chuck Robbins said India is one of the biggest opportunities for Cisco globally, and it believes no other country in the world can deliver the growth rates that India can over the next decade. Stating that the company started manufacturing in India about 18 months ago with a single product and is in the process of adding two more, Robbins said India is now a "viable" place for exporting out of. "I think the global trade dynamics right now need to sort of get settled down so we actually can think through how it impacts our longer-term plans. But obviously India is a big part of it," he told reporters here, when asked about investment plans. It can be noted that Cisco has a manufacturing unit near Chennai, which was opened last ...

CBIC may free up importers' IGST credits to address payment issues

Short payments of IGST on imports are usually discovered during internal audits or regulatory checks, and tend to arise due to valuation differences, classification errors, or other discrepancie

India aims to import about 10% of its LPG from US starting 2026: Report

India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane

Trade with India should reach $20 bn: Vietnam envoy Nguyen Thanh Hai

Ambassador Nguyen Thanh Hai says India-Vietnam trade has strong growth potential, urges deeper cooperation and highlights VinFast's $2 bn investment in Tamil Nadu

Notification effective from date of its publication in official gazette

The said Section 15(1)(b) says that (relevant extracts), 'the rate of duty applicable to any imported goods, shall be the rate in force, in the case of goods cleared from a warehouse under Section 68

Putin calls for expanding use of national currencies among Brics nations

Russian President Vladimir Putin stressed on the advantages of creating an independent settlement and depository system within Brics

US close to several trade deals, announcements expected in days: Bessent

"I hear good things about the talks with Europe. I hear good things about the talks with India," Stephen Miran, chairman of the White House Council of Economic Advisers said

Ball in Washington's court on India-US interim trade pact before July 9

With India setting its red lines on key issues in sectors such as agriculture and dairy for the proposed interim trade agreement with the US, the ball is now in Washington's court to finalise the deal, sources said. They said if issues are settled, an interim trade pact could be announced before July 9, which marks the end of the 90-day suspension period of the Trump tariffs announced on April 2 on dozens of countries, including India. "India has drawn its red lines... now the ball is in the US court," they said. In February, the two countries announced starting negotiations for a bilateral trade agreement (BTA). They fixed a deadline to conclude the first tranche or phase of the BTA by fall (September-October) this year. Before that, the two sides are locking to finalise an interim trade pact. On April 2, the US imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90 days. However, the 10 per cent baseline tariff imposed by America remains in ..

Gold prices may be volatile as Trump's tariff deadline approaches: Analysts

Gold prices may see heightened volatility in the coming week as investors track a crucial July 9 tariff deadline, policy signals from major central banks, including the US Federal Reserve, and key global macroeconomic data, analysts said. "These factors could influence the near-term trajectory of gold prices," analysts said, adding that traders are expected to remain cautious ahead of any major policy cues or geopolitical developments. The 90-day suspension of Trump tariffs on imports from several countries, including India, ends on July 9, reviving the risk of a 26 per cent additional duty on Indian goods entering the US. "Going ahead, the focus will be on the interest rate cuts by key central banks, especially US Fed Reserve, the outcome of trade negotiation between US and its trading partners, incoming global economic data, which could impact the near-term gold prices," Pranav Mer, Vice President, EBG, Commodity & Currency Research at JM Financial Services Ltd, said. Investors .

India to pitch for preferential trade pact expansion with Mercosur nations

Mercosur is a Latin American trading bloc, with Argentina, Brazil, Uruguay, Paraguay as its members

External risks: Trade and capital flows to impact economic growth

The developments in the US can affect the Indian economy through different channels. It will not only be critical to watch the kind of trade deal offered to India

Goyal discusses FTAs with industry, exporters ahead of key trade talks

Piyush Goyal meets export councils and industry groups to review trade pacts, gather views on new FTAs and SEZ reforms as India negotiates key global agreements

Trump says he doesn't expect to extend July 9 trade tariff deadline

"I don't think I'll need to," he said in an interview on Fox News's Sunday Morning Futures with Maria Bartiromo that was taped Friday. He then added, "I could, no big deal."

Plurilateral agreements may help keep WTO relevant into the future

A large number of developing economies have been benefitted, through their participation in FTAs, and increased their integration with GVCs and their share of global trade

Mobile exports grow 74% in May to record second-highest figures ever

The peak was $3.1 billion in March, when Apple exported more phones to the United States

No sign of panic among Indian exporters; shift to Cape of Good Hope route

Despite Iran-Israel instability, exporters report no disruption in trade as 96 per cent of India's container traffic shifts to the Cape of Good Hope route

West Asia conflict: Exporters in dire straits as Hormuz trade route erupts

China-Gulf spot rates climb 55% in a month as tensions mount