India will resist US and European plans to prolong a global ban on cross-border ecommerce charges at the World Trade Organisation conference next week, fearing a continuous massive revenue loss, news agency Reuters reported. New Delhi, South Africa and Indonesia want poor countries to be able to tax cross-border electronic communications and India will advocate […]
Eurocommerce, a European retail sector association, urged European Union institutions and member states to settle the Red Sea situation, which has interrupted trade, stating in a letter to Belgium’s foreign minister that it has already had “massive impacts” on businesses. Shipping companies have moved container ships away from the Red Sea to avoid Houthi insurgent […]
India and the UAE on Tuesday finalised seven agreements, including a Bilateral Investment Treaty (BIT), an Intergovernmental Framework Agreement for the India-Middle East-Europe Economic Corridor and Memoranda of Understanding (MoUs) connecting payment systems. These agreements were reached following discussions between Prime Minister Narendra Modi and President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi. […]
Concerns mount over the severe disruptions in global trade as the United Nations Conference on Trade and Development (UNCTAD) issued a stark warning. The ongoing crisis in the Red Sea shipping route, compounded by geopolitical tensions in the Black Sea and climate-related challenges in the Panama Canal, is creating a complex and multifaceted challenge for […]
After 16 years of negotiations, Switzerland and India have finally reached a consensus on a free-trade agreement, as confirmed by Swiss Economy Minister Guy Parmelin, reported Bloomberg. According to the agency, Parmelin travelled to India directly from the World Economic Forum in Davos to meet with Minister Piyush Goyal. As per the Swiss Minister’s post […]
India’s trade performance in December witnessed a nuanced pattern, with the overall exports, encompassing both merchandise and services, declining to USD 66.33 billion compared to USD 69.29 billion in December 2022, as per data released by the Commerce Ministry. However, a closer look at the sector-wise breakdown reveals divergent trends. Merchandise exports in December demonstrated […]
The government will judge the current import control system for specific IT hardware goods like laptops and tablets after assessing the import data it is monitoring after September, the news agency PTI reported. In October of last year, India implemented an import management system that requires importers of certain items to get government authorisation. The […]
To address challenges and enhance the country’s export performance, the Centre, state governments, and industry representatives are set to convene on 16 January for a crucial meeting chaired by Commerce and Industry Minister Piyush Goyal. The meeting, organised by the Board of Trade (BoT), will focus on pressing issues, including challenges related to rupee payments, […]
The Union commerce ministry has announced a high-level inter-ministerial meeting scheduled for next week, aiming to address and strategise against the challenges posed to India’s trade by the ongoing issues in the Red Sea. As per reports, the meeting would involve senior officials from five key ministries, namely external affairs, defence, shipping, finance, and commerce. […]
Union Commerce Minister Piyush Goyal said that India and UAE aspire to expand their bilateral trade to USD 100 billion. While addressing the ‘UAE India Business Summit’ held at the 10th edition of Vibrant Gujarat Global Summit, the Minister underscored the multifaceted nature of the India-UAE partnership, encompassing collaborations in space exploration, security, education, and […]
