Page 4 - Trade Talks

Will India reassess its position on China-backed Asian trade bloc RCEP?

However, that Sri Lanka and Bangladesh are veering towards the RCEP compounds an already complex situation for India

'Trade Day' at COP28: To deliberate on policy options for climate action

At COP26 held at Glasgow, Scotland, in 2021, most developed countries committed to achieving net-zero GHG emissions by 2050

IPEF trade pillar: India doubts benefits amid SE Asian scepticism

India did not join the trade pillar because the government didn't know what commitments New Delhi may have to make, and there was no clarity on the details

Piyush Goyal, US trade rep Katherine Tai discuss trade boost in key meet

Commerce and Industry Minister Piyush Goyal met the US Trade Representative (USTR) Katherine Tai and discussed ways to further boost trade and investments between the two countries. Goyal is in the US for a four-day visit. He reached San Francisco on November 13. He also met Dukgeun Ahn, Minister of Trade, Korea, and Gan Kim Yong, Minister of Trade and Industry, Singapore. These ministers are in the US for the Indo-Pacific Economic Framework (IPEF) meeting. "Wonderful meeting my friend Ambassador Katherine Tai, the US Trade Representative. We discussed ways to further deepen our trade & investment ties along with convergence on key WTO issues for a favourable outcome at MC13," Goyal said on the social platform X. The 164-member World Trade Organization (WTO) is holding its 13th ministerial conference (MC) at Abu Dhabi in February next year. During the ministerial meetings in San Francisco, Goyal discussed potential collaboration under the Indo-Pacific Economic Framework (IPEF), .

India weighs changes to improve production incentive schemes: Report

India's trade ministry, which oversees the scheme's implementation, is discussing the changes with other federal departments, they said

India, Malaysia looking at reviewing 2011 trade pact: Malaysian FM

India and Malaysia are firming up a framework for conducting trade in national currencies and initiating a process to review the 12-year-old comprehensive economic cooperation agreement to include new domains and items, Malaysian Foreign Minister Zambry Abdul Kadir said. At the end of a three-day visit to India, Kadir told PTI that both sides are keen to expand trade engagement in new and emerging areas such as electronics, semiconductors, fintech, renewable energy, new technology and startups. Ways to further boost the overall trajectory of ties were discussed extensively during talks between External Affairs Minister S Jaishankar and his Malaysian counterpart on Tuesday night. Asked about India's long-pending demand to Malaysia to extradite fugitive evangelist Zakir Naik, Kadir did not give a direct reply and said Kuala Lumpur is keen on strengthening institutional mechanisms to boost security cooperation rather than focusing on any individual. Naik is facing a multi-agency probe

Explore settling trade transactions in local currency: India asks Ethiopia

India has urged Ethiopia to explore possibility of settling bilateral trade transactions in local currency as it will help boost bilateral trade and conserve foreign exchange, an official statement said on Wednesday. The country has also invited the African nation to collaborate on the Unified Payment Interface (UPI) with Ethswitch of Ethiopia. These issues were discussed during the sixth session of India-Ethiopia Joint Trade Committee in Addis Ababa from November 6-7. Both sides also agreed to expeditiously address all issues impeding bilateral trade and facilitate trade promotion between the two countries. "The Indian side urged Ethiopia to explore the possibility of settlement of trade transactions in local currency which will help boost bilateral trade and conserve foreign exchange," the commerce ministry said. "The Indian side also requested the Ethiopian side to expedite the early finalization of the Bilateral Investment Treaty," it added. Ethiopia is one of the fastest gro

The Diwali deadline

India-UK FTA needs to be expedited

Samvat 2080: Date, timing and importance and everything you need to know

Samvat 2080 signifies the start of the new Hindu year, and it can positively impact the Indian stock market. Muhurat trading details are important for investors during these hours

Goyal urges G7 members to collaborate to facilitate cross border trade

Commerce and Industry Minister Piyush Goyal on Saturday urged the countries participating in the G7 trade ministers meeting to enhance collaboration on a regulatory framework to facilitate cross border trade. The Group of Seven (G7) trade ministers meeting was held in Osaka, Japan. Under its G7 presidency this year, Japan has invited India, along with a few other invitee countries (Australia, Chile, Indonesia, and Kenya) to participate in the outreach programme held on October 28. In the meeting, Goyal urged the governments to collaborate on a regulatory framework to ease the movement of supply chains and facilitate cross border trade, an official statement said. He said the Covid-19 pandemic and geopolitical events have highlighted the vulnerabilities of the existing supply chains leading to increase in commodity prices and global inflation. The Russia-Ukraine war, conflict between Israel and Hamas and global economic uncertainties are impacting flow of goods across the world. ..

UK-India free trade deal poses risk for British millers Tilda and Veetee

British rice millers such as Tilda Ltd. and Veetee Rice have thrived for decades by importing low-tariff unmilled brown rice from the likes of India and Pakistan and "polishing" the grains

5th Indo-French dialogue: Proposals for collaboration in space and cyber

Earlier on Wednesday, Rajnath Singh visited the Safran Engine Division's R&D Centre at Gennevilliers near Paris, to see the latest developments in aero-engine technology

India, Peru to hold trade talks on furthering investments from Oct 10: Govt

The next round of negotiations for a trade agreement between India and South American nation Peru will start from October 10, an official statement said on Monday. The agreement is aimed at promoting bilateral trade and investments between the two countries. With the pact, the two trading partners will significantly reduce or eliminate customs duties on maximum number of goods traded between them. "A special round of negotiations for the India - Peru trade agreement is scheduled to be held virtually on 10-11 October," the commerce ministry said. During the negotiations, the two sides will discuss different issues, including rules of origin, trade in goods, customs procedures and trade facilitation, technical barriers to trade, sanitary and phytosanitary measures. "Discussions on services, movement of natural persons (professionals), trade remedies and investment chapter will be held later in the month based on mutual convenience of the negotiators," the statement said. Negotiation

India-Peru to recommence free trade agreement negotiation on Tuesday

There will also be discussions on services, the movement of people, and the investment chapter later in the month based on the mutual convenience of the negotiators

India, Tanzania to sign 15 agreements with eye on $10 bn trade: Makamba

India and Tanzania will sign 15 agreements covering different areas of cooperation, Tanzanian Foreign Minister January Yusuf Makamba said ahead of the bilateral talks between visiting President Samia Suluhu Hassan and Prime Minister Narendra Modi on Monday. The presidential visit from Tanzania to India is taking place after a span of more than eight years. "This is a very important visit for Tanzania. The big announcement we expect here is regarding the elevation of the bilateral relations into a strategic partnership. We expect that commitments on enhancement of trade and investment will be announced. We expect an announcement on about 15 agreements covering different areas of cooperation, both government to government but also with private entities," Makamba told PTI on Sunday. The Tanzanian foreign minister, who has already taken part in bilateral discussions with his Indian counterpart, S Jaishankar, is optimistic that India, as a significant partner in the Official Development

Sebi slaps Rs 55 lakh penalty on 11 entities for non-genuine trades

Capital markets regulator Sebi on Thursday slapped penalties totalling Rs 55 lakh on 11 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE. In 11 separate orders, the regulator slapped a fine of Rs 5 lakh each on Sanjay Kumar Agarwal HUF, Manoj Agrawal, Kanta Didwania, Harish Chandra Baldewa, Daksha Kirit Patel, Bestway Dealcom, Ziya Merchandise, S K Agarwal, and Sons HUF, Sumit Agarwal, Spectrum Technoprojects Pvt Ltd, and Sanjeev Mittal HUF. The orders came after the regulator observed large-scale reversal trades in the illiquid stock options segment on the BSE, leading to artificial volumes on the exchange. The Securities and Exchange Board of India (Sebi) conducted an investigation into trading activities of certain entities engaged in the segment from April 2014 to September 2015. The entities to be fined were among those who indulged in reversal trades. Reversal trades are non-genuine as they are executed in the normal course of trading

CTI urges Centre to ban lentil import from Canada amid heightened tensions

Delhi traders' body CTI on Monday urged the Central government to ban import of lentil (masur) from Canada, over Ottawa's allegations relating to the killing of a Khalistani separatist on Canadian soil. In a letter to Union Commerce Minister Piyush Goyal, the Chamber of Trade and Industry (CTI) said that there was a need to exert economic pressure on Canada. A growing dispute between India and Canada has erupted following allegations made by Canadian Prime Minister Justin Trudeau over the killing of Khalistani separatist Hardeep Singh Nijjar. Chairman of CTI, Brijesh Goyal, said that the development has sent ripples through the business world. Indian traders have demanded that India should ban import of lentils from Canada, which is a major supplier. "Canada is becoming a stronghold of Khalistanis and their anti-India sentiment was displayed by protests at the Indian embassy. However, Trudeau is making politically motivated statements in view of upcoming elections in Canada," he ..

Integrating GVCs can add $1.2 trn to India's foreign trade: GTRI report

Steps like streamlining port and customs operations, and setting up of national trade network will help Indian firms integrate with global value chains and add USD 1.2 trillion in the country's foreign trade by 2030, according to a report. The Global Trade Research Initiative (GTRI) said that currently, India's limited participation in global value chains (GVCs) hampers its export potential, despite possessing substantial manufacturing capabilities across various GVC-relevant product categories. The integration of Indian companies in the GVCs is fundamental as about 70 per cent of global trade operates within these chains, encompassing a wide range of products, from electronics and machinery to pharmaceuticals and apparel. "India's weak GVC integration can be attributed to poor trade infrastructure, causing delays at ports and customs, which are detrimental to the timely flow of goods in these intricate value chains," GTRi Co-Founder Ajay Srivastava said. Countries like China, Japa

Navigating the evolving trade landscape

In an era of shifting trade dynamics, India stands at the crossroads of opportunity, but being adaptable will be key

Canada postpones October trade mission to India, offers no reason

This comes at a time when negotiations for a free trade agreement between India and Canada have been stalled, sources informed on Friday