Page 6 - Global Trade

Govt not to impose anti-dumping duty on Chinese metal cutter wheels

The government has decided not to impose anti-dumping duty on Chinese metal cutter wheels as the finance ministry has not accepted the recommendations of the Directorate General of Trade Remedies (DGTR) for imposing the levy. The commerce ministry's investigation arm DGTR had conducted a probe into the alleged dumping of "Resin Bonded Thin Wheels" from China, and in September it recommended the imposition of the duty. The product is used in various sectors ranging from welding, cutting, foundry to primary metal markets for nagging and cutting ferrous and non-ferrous materials. "The central government, after considering the final findings of the designated authority (DGTR), has decided not to accept the ... recommendations," an office memorandum of the Department of Revenue said. While the Directorate General of Trade Remedies (DGTR) recommends the duty, the Department of Revenue takes the final decision to impose it. In international trade parlance, dumping happens when a country

Piyush Goyal asks exporters make price adjustments to retain market share

A temporary change in pricing will help them accommodate short-term challenges, an official statement says; minister reviewed sectoral progress in exports with EPCs and Industry bodies

Top Headlines: Global trade growth forecast; world currency reserves shrink

India's merchandise exports could face major headwinds next year with the WTO slashing its forecast for global trade volume growth to 1 per cent from 3.4 per cent

Latest news LIVE: ED attaches assets worth Rs 2,747 cr in ABG Shipyard case

From Covid to the Russia-Ukraine war, catch all the latest news development here

NLP will spur growth, increase India's participation in global trade: PM

Prime Minister Narendra Modi said on Wednesday the Union cabinet's decision on India's logistics policy will accelerate growth and increase the country's participation in global trade. The efforts in the logistics sector will particularly benefit the farmers of the country and the micro, small and medium enterprises (MSME) sector, Modi said in a tweet. "Today's Cabinet decision on a PLI scheme relating to the National programme on High Efficiency Solar PV Modules will enhance manufacturing in the sector and boost investment," the prime minister said in another tweet. The cabinet earlier approved the National Logistics Policy, which aims at reducing the transportation cost and improve the global performance of the sector. Modi last week unveiled the policy, which seeks to cut transportation costs by promoting a seamless movement of goods across the country. The cabinet also approved modifications in the scheme for semiconductors and the display manufacturing ecosystem with a unifor

Rice prices soften in domestic markets after ban; exports may shrink by 25%

India, which commands 40% share in the global rice trade, exported 21.23 mt of rice in 2021-22, against 17.78 mt in the previous year

Top public sector banks may soon end wait on trade settlement in rupee

Finance ministry to meet stakeholders on Wednesday

China's recovery wobbles as drought, global slowdown add to risks

China's economy continued to recover in August but warning signs are flashing across a number of fronts as drought and weaker global demand add new risks to growth prospects

Arms conference puts trillion-dollar industry under the spotlight

Arms conference puts trillion-dollar industry under the spotlight

RBI took steps to promote rupee as preferred currency for global trade: FM

RBI asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency.

Fragmentation of global trade leads to sub-optimal outcomes

The tensions near Taiwan go up at a time when the relations between Russia and the US and its allies are at rock bottom

Keeping Europe warm this winter will come down to Asia's weather amid war

The Asian countries, among the world's biggest importers of liquefied natural gas and seaborne coal, all share a peak heating demand season during the winter with Europe

SL foreign trade up despite economic crisis; exports to India grow 21%

Sri Lanka's exports grew 21 per cent during the first six months of the year and earned USD 5 billion for the crisis-hit country, according to official figures released on Friday. Sri Lanka's exports to India too witnessed an over 21 per cent increase assisted by increased exports of animal feed (19.26 per cent), Arecanuts (95.96 per cent) and textile (47.76 per cent) during January to June, the Export Development Board said. India is placed third behind the US and UK as the biggest export market for Sri Lanka. Exports to the United States, Sri Lanka's single largest export destination, increased by 46.16 per cent to USD 323.65 million compared to the month of June 2021. The better performance was led by an increase in exports of apparel & textile (29.68 per cent) and coconut-based products (26.8 per cent), according to a press release. The exports to US recorded USD 1,687.73 million worth of exports in the period of January to June 2022 a significant year-on-year increase of ...

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

Settling trade in rupee: FTP tweaks may allow traders export benefits

It is not clear if the changes will be part of the existing FTP or the new policy that the DGFT hopes to unveil in Sept

Glimmers of hope as WTO's global trade talks stretch into final day

Ministers from 100 countries are gathering at WTO's headquarters in Geneva this week to discuss international trade talks

WTO chief warns of 'bumpy' road as ministers work to reach deals

The WTO chief insisted that trade has lifted 1 billion people out of poverty, but poorer countries - and poor people in richer ones - are often left behind

Need to make our banks key part of global trade: PM Narendra Modi

Modi said India has developed various financial inclusion platforms and there is a need to create awareness about them for their optimum utilisation

With a chapati crisis brewing at home, can India afford to feed the world?

As global temperatures rise 2 degrees Celsius or more above pre-industrial levels, the country's chapati challenge is only going to become more urgent

Explained: What's in Biden's proposed Indo-Pacific Economic Framework

The framework has 13 members including Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam