New Delhi: US and Australia alleged India of giving subsidies to sugarcane farmers far exceeding limits set in global trade norms.The two countries told the WTO that they estimated that over the period 2018-19 to 2021-22, New Delhi provided sugarcane subsidy between 91-100%, which was “vastly in excess of the limits set out” at 10% … Read more
New Delhi: The global trade growth is expected to pick up gradually this year after a contraction in 2023 but regional conflicts, geopolitical tensions and economic policy uncertainty pose substantial downside risks, according to a WTO forecast released on Wednesday. The World Trade Organisation (WTO), however, lowered the trade growth projection for 2024 to 2.6 … Read more
Delegates attend the 13th WTO ministerial conference in Abu Dhabi, United Arab Emirates. File | Photo Credit: Reuters The talks at the WTO’s ministerial conference ended with no decision on key issues such as finding a permanent solution to public food stockpile and on curbing fisheries subsidies that lead to over-capacity and over-fishing, sources said. … Read more
India would benefit from a move of over 70 nations like the UK, UAE and Australia that have agreed to take on additional obligations in the services sector under an agreement of the WTO, an official said on Tuesday. These WTO (World Trade Organisation) members are taking the additional obligations under the General Agreement on … Read more
India will strongly oppose a China-led proposal for an investment facilitation pact besides pressing for finding a permanent solution to public stock holding of grains for food security and protection of the interests of fishermen at the upcoming WTO ministerial meeting. The Indian delegation is led by Commerce and Industry Minister Piyush Goyal. The four-day … Read more
Around this time last year, India and the UK looked ready to sign a free trade deal: the deadline set by former British Prime Minister Boris Johnson was Diwali. That did not materialise. On October 26, a couple of days after the festival of lights, then UK trade minister Greg Hands said in British Parliament … Read more
US Trade Representative (USTR) Katherine Tai said the India-US relationship is on an upward trajectory and the two sides should map out their economies to develop supply chains in complementary ways. In an interview with ET’s Kirtika Suneja and Deepshikha Sikarwar, Tai, who was on a visit to India to attend the G20 trade ministers … Read more
Commerce and industry minister Piyush Goyal on Thursday said the focus of G20 Trade and Investment Ministerial Meeting (TIMM) is to ease barriers to international trade and investment, help boost productivity and output and foster economic growth. Addressing the opening session of the two-day TIMM in Jaipur, he said the meeting aims to formulate fair, … Read more
New Delhi: After making a licence mandatory for imports of personal computers and laptops, the government is looking at other products on which such curbs could be imposed such as cameras, printers, hard disks, parts of telephonic and telegraphic devices, said people aware of the matter. The local demand for these products is substantial and … Read more
In April, the European Parliament adopted a unique law under which exporters of select products have to certify that their items sold in the European Union (EU) had not led to deforestation and forest degradation. Under the EU Deforestation Regulation, a slew of products, from coffee to wooden furniture, must not have come from fields … Read more