New Delhi, July 27 (IANS) The government has undertaken a range of measures to ensure availability of critical industrial inputs including energy, ease input cost pressures, facilitate trade, support industrial activity and safeguard macroeconomic stability in the wake of supply chain disruptions due to the West Asia crisis, the Parliament was informed on Monday.Temporary customs duty exemption was provided on selected petrochemical feedstock. Further, the Bharat Maritime Insurance Pool RELIEF (…
Latest Trade agreements News & Updates
Washington, July 21 (IANS) President Donald Trump imposed an additional 50 per cent tariff on hundreds of Canadian products, accusing Ottawa of discriminating against American exports of automobiles, alcoholic beverages and dairy products, in a major escalation of trade tensions between the two North American neighbours.Invoking Section 338 of the Tariff Act of 1930, Trump signed three separate proclamations imposing the new duties on selected Canadian imports. The White House said the action wa…
Mumbai, July 17 (IANS) RBI Governor Sanjay Malhotra said on Friday that India’s fundamentals remain strong, with a decent pace of economic expansion despite geopolitical uncertainties triggered by the West Asia crisis.In an exclusive interview to Doordarshan, the RBI governor also admitted that the ongoing geopolitical tensions in West Asia and a potentially weak monsoon pose key risks to India’s economy.Malhotra defended the performance of the rupee in the backdrop of a strengthening US dol…
Mumbai, July 16 (IANS) The India-UK Free Trade Agreement (FTA) is a historic pact that will boost exports, improve the competitiveness of Indian industries and further strengthen economic ties between the two democracies, NABARD Chairman Dr. Shaji Krishnan V said on Thursday.Speaking to IANS, the National Bank for Agriculture and Rural Development (NABARD) chairman said the agreement marks a significant milestone for both countries by providing zero-duty access for several Indian products while …
New Delhi, July 9 (IANS) India’s economy is projected to grow 6.6 per cent in FY27, with the country expected to remain among the world’s fastest-growing major economies despite global headwinds, supported by policy measures and strong services exports, a report has said.The report by the Asian Development Bank (ADB) highlighted that its revised FY27 growth projection remains higher than the International Monetary Fund’s (IMF) latest FY27 growth estimate of 6.4 per cent.”Growth will be supported…
New Delhi, July 8 (IANS) Strengthening collaboration with the Institute of Chartered Accountants of India (ICAI) can play a significant role in supporting India’s economic growth and advancing its global trade ambitions, Union Commerce and Industry Minister Piyush Goyal said on Wednesday following a meeting with the institute’s leadership.According to the minister, the discussions focused on expanding cooperation between the government and the accounting profession to facilitate trade and invest…
New Delhi, June 26 (IANS) India and the European Union have concluded their Free Trade Agreement as both partners seek to diversify their markets amid the global tariff turmoil and the geopolitical landscape after Donald Trump took over as US President, an article said.”As countries seek to diversify away from risky dependencies without retreating from globalisation, trade agreements are increasingly becoming instruments of strategic trust as much as market access,” the article in Modern Diploma…
New Delhi, June 2 (IANS) India on Tuesday welcomed Germany’s decision to operationalise visa-free transit for Indian nationals passing through German airports, saying this new arrangement would further enhance people-to-people ties.“We welcome the operationalisation by Germany of the annoucement waiving requirement of transit visa for Indian nationals transiting through Germany, exclusively by air, with effect from June 3,” the Ministry of External Affairs (MEA) wrote on X.”The announcement wa…
Washington/Ottawa, May 28 (IANS) Union Commerce and Industry Minister Piyush Goyal has pitched India as a trusted long-term economic partner during a series of high-level meetings and community engagements in Canada.Goyal held talks with business leaders, pension fund executives, technology institutions and the Indian diaspora during his visit to Toronto, focusing on investment, innovation and trade cooperation across sectors ranging from clean energy and infrastructure to artificial intelligenc…
Chennai, May 27 (IANS) The textile and apparel industry of Tamil Nadu is preparing for a major export push into European and British markets as upcoming free trade agreements are expected to improve competitiveness and reduce dependence on the United States market.Industry stakeholders believe the proposed trade agreements with the European Union and the UK could significantly expand India’s share in global textile exports by creating tariff parity with competing manufacturing hubs.Exporters s…