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 […]
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 […]
Zero-duty import of Gold by a large PSU company has come under the scanner, sources told BW. India levies a 14.35 per cent duty on the import of Gold Dores (unrefined gold) but some refiners like MMTC, a public sector entity and PAMP, a Switzerland company, were importing dores from least developed countries (LCDs) on […]
Indian government on Tuesday told the World Trade Organization (WTO) that it has no plans to extend the ban beyond the mentioned products in the October notification pertaining to IT hardware products such as personal computers, Tablets and laptops. The government said that industry consultations were undertaken before issuing the notification on 3 August and […]
Union Commerce Minister Piyush Goyal on Sunday discussed progress in India-EU Free Trade Agreement negotiations with European Commission’s Executive Vice President Valdis Dombrovskis. “Discussed progress of the India-EU Free Trade Agreement negotiations with my friend @VDombrovskis, Executive Vice President of the European Commission,” the Union Commerce Minister wrote on ‘X’. Piyush Goyal on Saturday participated […]
Amid the uproar over the removal of customs duty on apples imported from the US, the Commerce Ministry has clarified that the decision would not impact local players. Addressing a press conference on Tuesday, Peeyush Kumar, Additional Secretary, Commerce Ministry said that the government has sufficient policy space to support growers if there is any […]
A higher import duty on capital goods may hinder India’s potential as a global manufacturing hub and hence it should reconsider the import duty to enhance its participation in the global value chain and accelerate the success of its Make in India program, MVIRDC World Trade Center Mumbai said in a report. The report suggested […]
World Trade Organisation (WTO) members need to do more to boost global trade growth by investing in multilateral cooperation and contributing solutions to the economic challenges the world is facing, Director-General Ngozi Okonjo-Iweala said Wednesday. In remarks delivered to a meeting of the WTO’s Trade Negotiations Committee, which she chairs, the Director-General noted that the […]
The World Trade Organisation (WTO) said that UAE’s trade in goods with the rest of the world hit USD 1.024 trillion in 2022 as the share of both exports and imports increased on the back of higher crude oil prices. Imports accounted for 22 per cent of that amount while exports grew by 41 per […]
Global trade growth in 2023 is still expected to be subpar despite a slight upgrade to GDP projections since last fall, WTO economists said in a new forecast on 5th April. Weighed down by the effects of the crisis in Ukraine, stubbornly high inflation, tighter monetary policy and financial market uncertainty, the volume of world […]
