India has extended the timeline for duty-free imports of yellow peas by two more months until June 2024, an official notification from the Directorate General of Foreign Trade said on Friday. In early December, the central government allowed duty-free imports of yellow peas until March 2024, later to be extended till April. It was part […]
India witnessed a significant surge in March in sunflower oil imports, soaring by 51 per cent compared to the previous month, reaching the second-highest level on record. This increase was primarily attributed to lower prices, compelling refiners to boost their purchases of sunflower oil while decreasing their procurement of rival palm oil, according to the […]
India’s trade dynamics saw notable shifts in the calendar year 2023, with imports from China experiencing a 3 per cent decline, according to the Commerce and Industry Ministry. Conversely, exports to both China and the European Union (EU) saw positive growth, rising by 7.1 per cent and 2.1 per cent respectively during the same period. […]
The India-UK free trade agreement is likely to be signed post the formation of new government at the Centre. “The legal vetting of the trade deal is on. Even if we iron out the last few issues, the deal cannot be announced till elections are over and a new government is formed” a senior government […]
India and the European Free Trade Association (EFTA) bloc, comprising Iceland, Liechtenstein, Norway, and Switzerland, have signed a trade and economic partnership agreement (TEPA). The agreement is expected to enhance trade and investments between the two regions, with the phased removal of customs duties on various high-quality Swiss products over seven to ten years. Key […]
India signed the Free Trade Agreement (FTA) with the four-nation European Free Trade Association (EFTA) bloc, on Sunday. Union Commerce Minister Piyush Goyal co-chaired the meeting on the India-EFTA trade agreement in the national capital on Sunday. The European Free Trade Association (EFTA) is a regional trade organisation of four countries–Iceland, Liechtenstein, Norway and Switzerland–that […]
India, the world’s largest vegetable oil importer, is expected to buy more soyoil in 2024, while palm oil sales will likely fall, news agency Reuters reported on Monday. According to Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage and advisory business, India’s soyoil imports would increase to 4.3 million metric tonnes in the […]
India, alongside South Africa, has achieved a major breakthrough in the realm of domestic service regulations within the World Trade Organization (WTO), a development for global trade negotiations. The Ministry of Commerce and Industry stated a pivotal win for multilateralism following successful consultations and deliberations within the WTO framework. By January 2023, a total of […]
The Bank of Baroda (BoB) in a recent report has said that increased shipping costs and delays in shipments due to the Red Sea crisis is a major headwind for the textile sector. The report titled ‘Corporate performance: Q3-FY24’ stated that for the textiles sector, festive demand momentum was short-lived as discretionary demand continues to […]
Commerce and Industry Minister Piyush Goyal on Wednesday, emphasised India’s commitment to fair and open negotiations in trade and investment agreements, ensuring the interests of the people are safeguarded. Speaking at the CII India-Europe conclave, Goyal mentioned that countries engaging in Free Trade Agreements (FTAs) and investment pacts with India should recognise the substantial market […]
