Growth in shipments to Emirates is 5x that to the rest of the world; surge primarily led by gems and jewellery, electrical equipment
'We are very big in wood logs, which is among the single biggest items of export to India'
Minister Goyal is expected to hold bilateral meetings with counterparts from member countries
For Bangladesh, the potential of additional exports to India could range from $3 billion to $5 billion in a time span of 10 years
The minister also called for integration of One District One Product initiative with ONDC
Exemptions specified in Free Trade Agreement (FTA) with regard to country of origin will prevail in case of conflict between revenue department and importer, the finance ministry has said. In an instruction to chief commissioners, the Central Board of Indirect Taxes and Customs (CBIC) said the customs field officers should be sensitive to applying CAROTAR and maintain consistency with the provisions of relevant trade agreement or its Rules of Origin. Customs(Administration of Rules of Origin under Trade Agreements) or CAROTAR Rules, came into effect from September 21, 2020. It empowers the customs officers to ask the importer to furnish further information, consistent with the trade agreement, in case the officer has reasons to believe that the country-of-origin criteria have not been met. Where the importer fails to provide the requisite information, the officer can make further verification consistent with the trade agreement. "In the event of a conflict between a provision of th
India's Make in India and Atmanirbhar initiatives aim to favour domestic manufacturing and discourage imports, the European Union said
The UK is likely to look at reducing tariffs on products such as apples, UK-manufactured medical devices and machinery
The threat to India's rice production comes at a time when countries are grappling with soaring food costs and rampant inflation
Keen to set its own economic course after Brexit, the UK was eager to quickly finalise a trade deal with India
In a recent visit to India, UK Prime Minister Boris Johnson announced that the FTA was likely to be completed in October
Indian exports to Australia primarily consist of consumer and manufactured goods
India should close trade deal with UK by targeted date
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No pressure from UK over India's stand on Russia, says Shringla
While the commerce ministry expects the utilisation rate of the current round of trade deals to be higher, the choice of partners shows a close fit with India's geopolitical ambitions
Discussions and negotiations for an FTA with Israel have been going on for over a decade
Engagements to begin next month; UAE template to make it easier, say experts
"We are also building a strong financial partnership with closer cooperation in fintech, market regulation, and sustainable and green finance," he said
The free trade agreement between India and the UAE has opened huge opportunities and businesses of both countries should look at taking the bilateral trade to USD 250 billion by 2030