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India discusses cooperation among IBSA countries in multilateral fora

India has discussed ways to step up cooperation among IBSA countries in various multilateral fora, including the UN, WTO and G20, on major issues of in the international agenda. The IBSA (India, Brazil, South Africa) has emerged as a key tripartite grouping for the promotion of cooperation in a range of areas. External Affairs Minister S Jaishankar on Wednesday hosted the 10th India-Brazil-South Africa (IBSA) Trilateral Ministerial Commission Meeting along with Brazil's Minister of Foreign Affairs Carlos Alberto Franco Frana and Dr. Joe Phaahla, Minister of Health of the Republic of South Africa. "The Ministers expressed satisfaction on the coordination and cooperation among IBSA countries in various multilateral fora, including the UN, WTO, WIPO and G20, on major issues of international agenda. They reiterated their intention to further deepen IBSA cooperation on international issues at various International Organisations and groupings," according to a joint statement issued after

G20 meet: Ways to strengthen WTO dispute settlement mechanism discussed

The meeting with the USTR is crucial since the conclusion of the 12th WTO ministerial in June, the outcome document had promised to revive the dispute settlement body in the next two years

DGTR hints at anti-dumping duty on Chinese ofloxacin, FinMin to decide

The commerce ministry has recommended imposition of anti-dumping duty on Chinese ofloxacin -- a medicine used to treat certain infections -- for five years to guard domestic players from cheap imports from the neighbouring country. Directorate General of Trade Remedies (DGTR) has recommended the duty on imports of 'ofloxacin' and its intermediates from China after concluding in its probe that the product has been exported at dumped prices into India, which impacted the domestic industry. "The authority considers it necessary and recommends imposition of the anti-dumping duty for a period of 5 years," the directorate has said in a notification. Ofloxacin is used to treat certain infections including bronchitis, pneumonia and infection of skin, bladder, urinary tract and prostate. DGTR had conducted the probe following a complaint from Aarti Drugs Ltd about the dumping and initiation of the investigation. The directorate works under the ministry. The recommended duty ranges between

EU wants India to prohibit 'discriminatory buy national practices': Report

India's Make in India and Atmanirbhar initiatives aim to favour domestic manufacturing and discourage imports, the European Union said

India, Pak bonhomie at WTO blossoms despite fractious bilateral relations

Both countries have made two joint submissions at the WTO as co-sponsors in the past two months

Top Headlines: BSNL bailout, YES Bank to raise $1.1 bn from Carlyle, Advent

Business Standard brings you the top headlines at this hour

India topped list of trade-related concerns at WTO in 2021 with 35% share

Issues were raised about India's-policy on tyres, import curbs on ACs, quality norms for copier paper and caustic soda, GM-free certification for imported food items, among other things

India got highest aid for trade from developed countries in 2020

The total disbursement during 2020 was $48.7 billion, which translates to India getting 4 per cent of the disbursements

What is the DESH Bill?

The govt is likely to introduce the Development of Enterprise and Service Hubs (DESH) Bill in the upcoming monsoon session of Parliament. How will it overhaul the ecosystem of special economic zones?

New SEZ law to focus on job creation and research, not foreign exchange

The Bill shall propose the re-introduction of certain direct tax benefits, under which units set up in these development hubs shall attract a 15 per cent corporate tax until 2032

International trade must become a political priority for BJP's third term

India's failure to become a major trading nation has made it treat international negotiations as an irritant

India supported TRIPS waiver for benefit of developing nations: Goyal

According to the minister, India has a number of Covid vaccines and can help other developing countries to make vaccines

Bond yields plunge, rupee gains as easing crude oil buoys markets

The rupee ended the day at 77.98 to a dollar against a close of 78.07 on Friday

Best of BS Opinion: WTO still lives, India's trade contradictions & more

Here are the top BS Opinion articles of the day

MC12: Decisions not impactful, but WTO wins big

The current practice of not imposing Customs duties on electronic transmission will continue till the next ministerial conference (MC13) to be held towards the end of December 2023

India's trade contradictions

WTO experience highlights India's less-than-coherent approach towards trade

WTO still lives

Outcomes for India were mixed

India softens stance to hammer out a "no harm" trade deal at WTO meet

Piyush Goyal said perhaps this was the first ministerial where India set the agenda. "We were on the front foot. We were telling other countries what needs to be done"

WTO's vaccine patent waiver may have little impact on ground now: Industry

Serum Institute says while patent waivers for Covid-19 vaccines are 'encouraging', demand for vaccines today is declining

For the first time in a decade, WTO members reach historic deal at Geneva

The four-day meeting was extended by a day