Page 8 - Trade Talks
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
CCI issues draft norms on combinations under amended competition law
Fair trade regulator CCI has issued draft rules pertaining to value of transactions for combinations under the new competition law. Earlier this year, various provisions of the Competition Act were amended. As per the draft norms issued by the Competition Commission of India (CCI), the value of transaction shall include "every valuable consideration, whether direct or indirect, immediate or deferred, cash or otherwise". These could also be in the form of covenant, undertaking, obligations or restrictions imposed on seller or any other person, other than acquirer, in the nature of non-competition or otherwise. It could also be for arrangements that are made as part of the transaction within two years from the date when the transaction is set to come into effect. These arrangements can cover a wide range of elements such as technology assistance, licensing of intellectual property rights, usage rights to any product, service or facility, supply of raw materials or finished goods, ..
Ahead of G20 Summit in New Delhi, Canada pauses trade talks with India
India's high commissioner to Canada confirmed that Trudeau's team initiated the pause, which was first reported Friday by the Canadian Press
India, UK to continue free trade agreement negotiations till Aug-end
Indian and UK officials will continue their negotiations till the month-end to iron out differences on the proposed free trade agreement (FTA), the commerce ministry said on Sunday. This meeting will be followed by a review at the higher level, it said. Following the G20 Trade and Investment Ministers Meeting (TIMM) at Jaipur, the progress of the negotiations was reviewed by Commerce and Industry Minister Piyush Goyal and UK's Secretary of State for Trade Kemi Badenoch on August 26. "Teams are going to continue negotiations till the end of August 2023 which will be followed by stock taking at the higher level, it said. While expressing satisfaction over the last 12 rounds of negotiations wherein several chapters have been finalized, both exuded confidence that the next round of talks to be similarly successful. "Both Chief Negotiators apprised the ministers about the current state of play, issues outstanding for resolution and their continuous joint efforts to iron out the same,"
Trade talks with UK progressing extremely well, says Piyush Goyal
The ongoing negotiations between India and the UK on a free trade agreement (FTA) are progressing "extremely well" and it is expected to conclude at an early date, Commerce and Industry Minister Piyush Goyal said on Thursday. He said both sides are confident that they will come out with a "very" balanced, equitable and fair agreement in the interest of businesses and people of both the countries. When asked about the UK's demand on import duty concessions on auto, whiskey and dairy products, he said India and the UK both are pressing hard for their requests and concerns. "There is hardly an issue on which we are not negotiating and I assure you that it will be a strong and hard outcome that will come out of all these negotiations... I believe we have to talk with sincerity, with speed but ensuring balance... and we are both committed to come up with a win-win solution for both countries. I hope it can happen at an early date," Goyal told reporters here. The UK team is here for the
India, Asean to intensify efforts to wrap up trade agreement review by 2025
India and the 10-nation bloc Asean on Monday said they have directed their officials to intensify their efforts to conclude the review of the existing free trade agreement in goods between the two regions by 2025. The issue was discussed during the twentieth AEM (Asean Economic Ministers)-India Consultation meeting, held at Semarang, Indonesia. According to a joint media statement, the meeting welcomed the progress of the review of the Asean-India Trade in Goods Agreement (AITIGA). It also endorsed the term of reference of the AITIGA Joint Committee, the Work Plan of the review negotiations and the negotiating structure. Both sides agreed to make the agreement more user-friendly, simple and trade facilitative for businesses to increase trade and support sustainable and inclusive growth. "To this end, the meeting encouraged the officials to intensify their efforts with the aim of achieving a substantial conclusion of the review in 2025," the statement said. The consultation was ..
From labour to IPR, non-trade issues may not be part of India-Canada deal
Early harvest agreement likely to be signed by year-end
Instant settlement of share transactions in the works: Sebi chief
Sebi is reviewing the framework of "trading plan" -- used by insiders to deal in the shares of their companies as required under the Prohibition of Insider Trading (PIT) Regulations
Commerce secretary Barthwal visiting UK for free-trade agreement talks
During the visit (July 17-18), the secretary will hold discussions with senior officials of the UK about the proposed trade agreement, which both the countries are negotiating
Resolution of disputes a hurdle in India-UK investment pact talks
UK wants exhaustion of local remedies clause tweaked; India stand non-negotiable
Top headlines: HDFC Bank to become top weight, FPI inflow hit 10-month high
Business Standard brings all the latest headlines at this hour
India, Australia may conclude talks for comprehensive trade deal by Dec
Both sides have already had three rounds of negotiations, during February-June. The fourth round is scheduled in July 2023
In race for market connectivity, UK-India ties offer point of difference
Their partnership can turbo charge the development of India's financial markets
India, UK struggling to make progress in free trade talks: Report
The two nations are unable to agree on concessions on duties levied by India on car and liquor imports, a government official with direct knowledge of the matter said
India-EU trade, technology council first meeting at Brussels on May 16
The first ministerial level meeting of India-European Union Trade and Technology Council (TTC) will be held on May 16 in Brussels to discuss ways to increase cooperation in strategic technologies, digital connectivity, clean energy, trade and investments, an official statement said on Sunday. Commerce and industry minister Piyush Goyal is one of the co-chairs along with external affairs minister S Jaishankar and Union minister of state for electronics and information technology Rajeev Chandrasekhar, the commerce ministry said in a statement. The EU side is co-chaired by Executive Vice Presidents (EVPs) Dombrovskis and Vestager. It said that three working groups under the mechanism will report on roadmaps for future cooperation between the two sides -- Working Group on Strategic Technologies, Digital Governance and Digital Connectivity; Working Group on Green and Clean Energy Technologies; and Working Group on Trade, Investment and Resilient Value Chains. "The first ministerial meet
India, EFTA member countries discuss resumption of talks for trade pact
India and the four-nation bloc EFTA on Wednesday discussed ways to resume negotiations for a free trade agreement with a view to strengthening economic ties between the two regions. The subject came up for discussion during a meeting of high-level representatives from India and the European Free Trade Association (EFTA) states (Iceland, Liechtenstein, Norway, and Switzerland) here. Both sides "discuss the prospects of resuming their negotiations towards a Trade and Economic Partnership Agreement (TEPA)," the commerce ministry said in a statement. Free trade agreements between the two regions are officially dubbed TEPA. Under such pacts, two trading partners significantly reduce or eliminate customs duties on the maximum number of goods traded between them, besides easing norms to promote trade in services and investments. The high-level delegations were composed of Commerce and Industry Minister Piyush Goyal; Jan Christian Vestre, Minister of Trade and Industry of Norway; Helene ..
Twitter partners with Israeli company, users can soon trade stocks, crypto
Twitter has partnered with Israel-based social trading company eToro, which will allow users to access stocks, cryptocurrencies and other financial assets
Bank of Ceylon, SBI, Indian Bank talk benefit of rupee trade in Colombo
Following the Russia-Ukraine war and the sanctions imposed by the West, India has been trying to promote rupee trade
