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India aims for equity and balance when negotiating FTAs: Piyush Goyal India looks for equity, balance and fair trade when negotiating a Free Trade Agreement (FTA) with countries, the government said on Tuesday.  Speaking at the 27th CITIC CLSA India Forum here, Union Commerce and Industry Minister Piyush Goyal said India enters into FTAs with countries which are transparent, open and where governments’ economic systems align with India. Minister Goyal asserted that fulfilling basic amenities of citizens has been the government’s priority ...
India aims for equity and balance when negotiating FTAs: Piyush Goyal
India aims for equity and balance when negotiating FTAs: Piyush Goyal
Source: IANS
2024-11-19 06:14:47 pm
India seeking review of certain provisions of FTA with UAE: Commerce Secretary Amid concerns over the spurt in imports of precious metals from the UAE under the trade agreement, Commerce Secretary Sunil Barthwal has said that India is seeking review of certain provisions of the free trade agreement (FTA) with the UAE, which came into force on May 1, 2022. He said that India is in discussions with the UAE and there are various issues which can be discussed in the review. Barthwal said ‘As regards Comprehensive Economic Partnership Agreement (CEPA), there are two...
India seeking review of certain provisions of FTA with UAE: Commerce Secretary
India seeking review of certain provisions of FTA with UAE: Commerce Secretary
Source: Accord Fintech
2024-08-16 03:06:07 pm
India's textiles and apparel exports in July rise by 4.73% to $2,937.56 million: CITI The Confederation of Indian Textile Industry (CITI) has said that India's textiles and apparel exports in July 2024 grew by 4.73 per cent to $2,937.56 million compared to the same month last year mainly driven by an increase in demand for apparels. Textiles and apparel exports stood at $ 2,805.01 million in July 2023. It stated while the textile exports were steady at $ 1,660.36 million in July compared to $ 1,663.06 million, apparel shipments during the month surged by 11.84 per cent ...
India's textiles and apparel exports in July rise by 4.73% to $2,937.56 million: CITI
India's textiles and apparel exports in July rise by 4.73% to $2,937.56 million: CITI
Source: Accord Fintech
2024-08-16 10:32:17 am
India exported non-basmati rice worth $123 million in April-May India exported non-basmati rice worth $ 122.7 million during April-May in the current financial year. The government is closely monitoring the production, availability and export situation to assess suitable policy intervention, as per Minister of State for Commerce and Industry Jitin Prasada's written reply to the Lok Sabha.  The non-basmati rice exports came down to $852.53 million in 2023-24, from $2.2 billion in 2022-23 and $2 billion in 2021-22, according to the data provided...
India exported non-basmati rice worth $123 million in April-May
India exported non-basmati rice worth $123 million in April-May
Source: IANS
2024-08-08 01:01:00 pm
India urges BIMSTEC nations to speed up talks on Free Trade Agreement  Commerce and Industry Minister Piyush Goyal on Wednesday said that BIMSTEC members should re-examine the priorities of member nations with regard to trade negotiations so that the delayed Free Trade Agreement can be finalised.  Addressing the inaugural edition of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Business Summit here, he said that there is a need to reassess the reasons behind the delay in the BIMSTEC Free Trade Agreemen...
India urges BIMSTEC nations to speed up talks on Free Trade Agreement
India urges BIMSTEC nations to speed up talks on Free Trade Agreement
Source: IANS
2024-08-07 03:09:21 pm
India, EFTA trade pact under ratification process: Jitin Prasada Minister of State for Commerce and Industry Jitin Prasada has said that the free trade agreement (FTA) signed between India and the four European nation bloc EFTA in March is under the ratification process in those countries. He said there is no fixed time frame for the ratification, as the process is different in each of the EFTA (European Free Trade Association) countries.  Under the pact, India will receive the investment in 15 years from the grouping while allowing several product...
India, EFTA trade pact under ratification process: Jitin Prasada
India, EFTA trade pact under ratification process: Jitin Prasada
Source: Accord Fintech
2024-08-05 01:43:04 pm
Engineering goods exports up 4.3 pc to $28 billion, Budget to give further boost Engineering goods exports went up 4.34 per cent to $27.93 billion in the April-June quarter (year-on-year), from $26.77 billion in the same period a year ago, a report said on Monday.  Among the top destinations of Indian engineering goods, shipments to countries such as the US, UAE, Saudi Arabia and the UK increased during the June quarter of the current fiscal, according to EEPC India. Indian engineering exports in May bounced back and then recorded double-digit growth in June at...
Engineering goods exports up 4.3 pc to $28 billion, Budget to give further boost
Engineering goods exports up 4.3 pc to $28 billion, Budget to give further boost
Source: IANS
2024-07-29 02:41:26 pm
JSW Steel posts 64 per cent decline in Q1 net profit at Rs 845 crore JSW Steel on Friday reported a 64 per cent decline in the consolidated net profit to Rs 845 crore for the April-June quarter of 2024-25 on the back of lower sales volume and realisation.  The Sajjan Jindal-led company had made a net profit of Rs 2,338 crore in the same quarter last year. Consolidated crude steel production for the quarter stood at 6.35 million tonnes (mt), lower by 1 per cent Y-o-Y and 6 per cent Q-o-Q. Capacity utilisation at the Indian operations was 87 per cent ...
JSW Steel posts 64 per cent decline in Q1 net profit at Rs 845 crore
JSW Steel posts 64 per cent decline in Q1 net profit at Rs 845 crore
Source: IANS
2024-07-20 09:41:18 am
Commerce ministry working on framing standard operating procedure for FTA negotiation The commerce ministry held deliberations with experts, former officers and senior officials from different departments on framing a standard operating procedure (SoP) for Free Trade Agreements (FTAs) and other related issues under these agreements.  The ministry said the participants also deliberated on SoP for FTA negotiations, capacity building and resource management for trade negotiations as well as certain contemporary issues under modern FTAs such as labour, environment, and gen...
Commerce ministry working on framing standard operating procedure for FTA negotiation
Commerce ministry working on framing standard operating procedure for FTA negotiation
Source: Accord Fintech
2024-05-29 02:28:12 pm
Engineering exports edge up to $109 billion in FY24: EEPC Engineering Export Promotion Council (EEPC) has said India's engineering exports edged up to $109 billion in 2023-24 from $107.04 billion in the previous financial year, thus registering a growth of 2.13 per cent, despite a slowdown in some of the major global markets amid geo-political tensions. It said FY24 closed on a strong note, with engineering exports rising 10.66 per cent year-on-year to $11.28 billion in March 2024 as against $10.19 billion in the same month last year. EEPC sa...
Engineering exports edge up to $109 billion in FY24: EEPC
Engineering exports edge up to $109 billion in FY24: EEPC
Source: Accord Fintech
2024-04-16 12:11:17 pm
India's FTAs with UK, Oman and four EFTA to reflect its commitment to economic integration: GTRI Economic think tank Global Trade Research Initiative (GTRI) has said that successful conclusion of India's proposed free trade agreements (FTAs) with the UK, Oman and four European Free Trade Association (EFTA) will reflect its commitment to trade liberalisation and economic integration at a time when the whole world is turning protectionist. It said that these three pacts also reflect a shift in India's focus from east to west in terms of preferential trade partnerships.  GTR...
India's FTAs with UK, Oman and four EFTA to reflect its commitment to economic integration: GTRI
India's FTAs with UK, Oman and four EFTA to reflect its commitment to economic integration: GTRI
Source: Accord Fintech
2024-02-26 12:13:04 pm
The next round of talks between India, Peru for FTA likely to start in April: Commerce ministry The commerce ministry has said that the next round of negotiations between India and South American nation Peru for a free trade agreement (FTA) is expected to start in April 2024. The proposed agreement is aimed at promoting bilateral trade and investments between the two countries. In such pacts, two trading partners either significantly reduce or eliminate customs duties on the maximum number of goods traded between them, besides easing norms to promote trade in services. The ministry s...
The next round of talks between India, Peru for FTA likely to start in April: Commerce ministry
The next round of talks between India, Peru for FTA likely to start in April: Commerce ministry
Source: Accord Fintech
2024-02-16 03:41:51 pm
UK looks for greater share in India`s automobile sector under FTA: Commerce Secretary Commerce Secretary Sunil Barthwal has said that the countries which are negotiating free trade agreements (FTAs) with India, including the UK, want a greater share in the country’s fast-growing automobile sector. He said that India has come to the centre stage of auto manufacturing not only in assembling but also in the whole value chain.  The secretary said the industry has strengthened itself in all areas, including making auto grade steel, components and tyres, besides export...
UK looks for greater share in India`s automobile sector under FTA: Commerce Secretary
UK looks for greater share in India`s automobile sector under FTA: Commerce Secretary
Source: Accord Fintech
2024-01-08 12:38:14 pm
Everyone wants to do FTA with India due to large, rapidly growing market: GTRI report Highlighting the India’s large and rapidly growing market, the Global Trade Research Initiative (GTRI) in its latest report has said everyone wants to do an FTA with India. Countries ranging from large economies like the US, Europe, Japan, and the UK to smaller ones like Oman, Peru, and Mauritius either already have or actively seeking an FTA with India. The main reason is India's high import duties, which make it difficult for these countries to access India's large and rapidly...
Everyone wants to do FTA with India due to large, rapidly growing market: GTRI report
Everyone wants to do FTA with India due to large, rapidly growing market: GTRI report
Source: Accord Fintech
2024-01-03 09:45:14 am
MSMEs getting greater importance in upcoming FTAs: Rajesh Agarwal Additional Secretary in the department of commerce Rajesh Agarwal has said that the Micro, Small and Medium Enterprises (MSMEs) are getting greater importance in the upcoming Free Trade Agreements (FTAs) as these pacts provide huge opportunities for them to participate in global trade. He noted that FTAs can enable better integration of MSMEs with global value chains. However, he said there are a few key challenges that need to be focussed on for the sector, including information asymmetry, a...
MSMEs getting greater importance in upcoming FTAs: Rajesh Agarwal
MSMEs getting greater importance in upcoming FTAs: Rajesh Agarwal
Source: Accord Fintech
2023-11-24 12:06:32 pm
Finalising rules of origin for medical devices sector remains sticking-point in India-UK proposed FTA Finalising the rules of origin for the medical devices sector remains a sticking-point in the proposed free-trade agreement (FTA) between India and the UK and the talks are going on between the two countries to resolve the differences in both goods and services sectors. Huge potential is there in the medical devices sector in India, as it imports about 80 per cent of its requirement, with the US, Germany, China, Singapore and Netherlands being top exporters of such devices to the country. ...
Finalising rules of origin for medical devices sector remains sticking-point in India-UK proposed FTA
Finalising rules of origin for medical devices sector remains sticking-point in India-UK proposed FTA
Source: Accord Fintech
2023-11-21 01:08:20 pm
India should not agree to free cross-border data flows under proposed FTA with UK: GTRI The Global Trade Research Initiative (GTRI) has said that India should not agree to free cross-border data flows under the proposed free trade agreement (FTA) with the UK as ownership of national data is crucial for developing public services. It added that India should never agree to binding commitments in these areas as it will lock the country's policy space in the future.GTRI said this FTA marks a transformative shift in India's approach to trade, moving its focus from the east to the wes...
India should not agree to free cross-border data flows under proposed FTA with UK: GTRI
India should not agree to free cross-border data flows under proposed FTA with UK: GTRI
Source: Accord Fintech
2023-10-18 02:10:18 pm