The rush for free trade agreements (FTAs) is real. A decade and a half after economist Jagdish Bhagwati infamously dubbed preferential pacts as termites in the global trade system, the world is seeing an uptake in bilateral pacts, taking the momentum away from multilateralism. India, too, is aligned with the prevailing trend. After a long … Read more
New Delhi: India is drawing up a list of market access and non-tariff barriers(NTBs) hurting its goods and services exports and would take them up with the respective trade partners as it seeks to give a fillip to outbound shipments. The commerce department has begun the exercise with barriers such as registration requirements, higher pesticide … Read more
New Delhi: Robust exports performance in electronic goods, particularly smartphones, and services sectors will help India contain the fall in growth rate of overall trade, which is expected to decline by 2.6 per cent in the current year, a report said. Economic think tank Global Trade Research Initiative (GTRI) in its report said that despite … Read more
New Delhi: Senior officials of India and the UK will start the 13th round of negotiations for the proposed free trade agreement from September 4, an official said on Thursday. The two sides concluded the 12th round of negotiations on August 31. Commerce and Industry Minister Piyush Goyal has recently stated that the negotiations between … Read more
India’s stellar export performance in 2021-22, with merchandise exports totalling over $400 billion, compared to a pre-pandemic five-year average of $300 billion, has drawn its fair share of both cheerleaders and sceptics. The former sees this not just as a surge driven by a US-led global economic recovery, but also find elements of a structural … Read more
Export prices of rice in India dipped this week as supplies increased following the extension of a government scheme to provide subsidised grains, while rates in Vietnam and Thailand were mostly flat amid softer demand and rising output. Top exporter India’s 5% broken parboiled variety was quoted at $365-$369 per tonne this week, down from … Read more
Union Minister Piyush Goyal on Sunday said India’s economy was witnessing a bounce back in every sphere, and the country is well on track to achieve historical highs in goods and services exports. Goyal said India is on course to achieve USD 400 billion of merchandise exports in the current financial year ending March. “Also, … Read more
India has recently reaffirmed its commitment to trade multilateralism with the World Trade Organisation (WTO) at its centre. Parallelly, India has renewed its Preferential Trade Agreement (PTA) negotiations with many countries with vigour. While it has maintained certain long-held positions at the WTO, there are early signs that India may be recalibrating its approach towards … Read more
India’s exports in April jumped nearly three-folds to USD 30.21 billion from USD 10.17 billion in the same month last year, according to commerce ministry’s preliminary data released on Sunday. Imports too rose to USD 45.45 billion last month as against USD 17.09 billion in April 2020. “India is thus a net importer in April … Read more