The government has amended the Foreign Trade Policy to allow international trade invoicing, payment and settlement in the Indian rupee, activating the mechanism announced by the Reserve Bank of India (RBI) to facilitate trade in the domestic currency. The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry on Friday notified … Read more
A parliamentary panel has suggested to the Department of Commerce to take appropriate measures to check further deterioration in exports and crucial imports for preventing more disruptions in the supply chains. A report by the department-related Parliamentary Standing Committee on Commerce said the committee is perturbed to note the “precipitous” decline in both exports and … Read more
New Delhi: Discussions between Southern African Customs Union (SACU) [South Africa, Namibia, Botswana, Lesotho, Eswatini] and India to achieve a Preferential Trade Agreement (PTA) have been revived with the two sides holding a virtual meeting last week to discuss various aspects of the PTA. The Indian side at the dialogue was led by Srikar Reddy, … Read more