Foreign Trade Issues

In June, India's federal steel ministry also wrote to the trade ministry to make clear it did not favour limits on imports of met coke, citing risks to domestic output

The US on Friday said it has raised concerns with India regarding the import regime of certain information and communications technology products, including laptops, and tablets, amid New Delhi's decision to restrict inbound shipments of such products. At present, an authorisation is needed for importers of certain IT hardware goods into India. The USA's National Trade Estimate Report on Foreign Trade Barriers 2024 also said American exporters have raised concerns over the lack of prior stakeholder consultations on the issues. "The United States continues to monitor implementation and to raise concerns with India (on this)," it said. The report alleged that the "opaque and unpredictable" nature of India's application of quantitative restrictions has affected the ability of US exporters to access the market. "The United States continues to raise this issue, along with other trading partners, at the WTO (World Trade Organisation)," it said, adding that the US government continues to

Russia is hopeful that India and China will be able to find ways to resolve differences on the border issue and normalise ties based on mutual respect of sensitive interests, Russian envoy Denis Alipov said on Monday. The ambassador, speaking at an event, touched upon various aspects of India-Russia engagement and noted that both sides are focusing on creating favourable conditions for mutual trade settlements, payment systems and insurance with a larger aim of boosting trade. "We are hopeful that India and China, as major civilisations possessing unique political wisdom, will find ways to achieve progress in the border issue and a normalisation of bilateral ties based on mutual respect of sensitive interests," Alipov said. The Indian and Chinese troops are locked in an over three-and-half-years confrontation in certain friction points in eastern Ladakh even as the two sides completed disengagement from several areas following extensive diplomatic and military talks. In his remarks

A healthy growth in India's services segments has helped the country's total exports and imports of goods and services to cross the USD 800 billion mark during the first half of 2023, despite a slowdown in global demand, think tank GTRI said in a report on Monday. According to the analysis of the Global Trade Research Initiative (GTRI), exports of goods and services rose by 1.5 per cent to USD 385.4 billion during January-June this year, as against USD 379.5 billion in January-June 2022. Imports, however, dipped by 5.9 per cent to USD 415.5 billion during the six months of this year, as against USD 441.7 billion in January-June 2022. "India's foreign trade (exports and imports of merchandise and services) reached USD 800.9 billion during January-June 2023, exhibiting a decline of 2.5 per cent over the same period last year (January-June 2022), the report said. Standalone, goods exports dipped by 8.1 per cent to USD 218.7 billion, while imports contracted by 8.3 per cent to USD 325.

Take a look at the status of the ongoing FTA negotiations by India

The development comes in the backdrop of India's merchandise exports witnessing 4.8 per cent year-on-year rise to $35.45 billion in September

The shipment is expected to be executed in the next 15-20 days, an official in the know of the matter said

There are several reasons for the lack of uniformity, such as depreciation of other currencies, essential nature of crude imports and global fluctuations in energy prices

Goyal on Friday said there are a lot of non-tariff barriers that need to be addressed and wherever India will face an unfair treatment at trade front, it will take reciprocal action

According to the government's assessment, total backlog at the waterway is likely to be cleared in a week' time

Prefer Indian firms in sectors where domestic capability exists: NITI Aayog

The Pharmexcil came up with clarifications for its members and representations to the government highlighting some difficulties

It said best efforts will be made for expeditious resolution