Indian PSEs: Temples of the Digital Age
PSEs should strive for global competitiveness in their strategic outlook and ensure digital transformation to stay relevant in the present milieu.
PSEs should strive for global competitiveness in their strategic outlook and ensure digital transformation to stay relevant in the present milieu.
India could adopt a BOT approach in its negotiations with Australia, which will help boost competitiveness in dairy, wine, meat and processed agro sectors,
Past experience reveals that India's relative gain in manufactured product exports is less than the partner country for trade agreements.
Pushkar Mukhewar opines that India must work on negotiating easier import restrictions, standards and product diversification to improve marine exports.
Adopting a holistically GI-friendly ecosystem should be a key priority of policy makers, especially in rice exporting economies.
Indian F&B exporters must ensure good agricultural and labelling practices and proper branding to mainstream their products in target markets.
Gaurav Agarwal, MD, IITPL feels that instead of attracting foreign players, government must facilitate domestic production of medical devices.
India's ice cream market is projected to witness a CAGR of 18% by 2023, with rising disposable incomes, changing lifestyle & entry of international players.
India has immense potential to diversify exports by concentrating on value addition in sectors closely related to its current capabilities.
India should enhance exports of commodities like medicaments, rice, insecticides, vehicles, footwear & nuts to address its trade deficit with Belarus.
As consumption patterns shift to OTT, traditional media companies will need to build marketing muscle around customer acquisition, engagement & retention.
Global trade is expected to face strong headwinds in 2020, but new technologies could lessen costs & enable more efficient flows of goods & services.
Stability in tax laws, transparent dispute settlement & improvement in contract enforcement will boost India’s attractiveness for FDI.
Higher returns are prompting farmers to substitute maize, cotton and tobacco with ginger. But the focus should also be on competing in the export market.
Focus should be enlarged to include the ‘judicious use of pesticide and fertiliser’ in order to reverse the decline in Basmati Rice exports from India.
Japan's interest in India is high due to its huge market and human resources, making the latter a highly preferred destination for manufacturing.
Since the WTO Appellate Body is rendered dysfunctional, it will be hard for smaller countries to hold larger countries accountable to trade obligations.
India must improve the quality of higher education, boost infrastructure, improve the R&D ecosystem and promote its brand to make Study in India a success.
Rajiv Nath, Founder & Forum Coordinator, AiMeD, feels there is a need to conserve medical devices sector with a predictive nominal tariff protection policy.
Deep Kalra, Founder & Group CEO, MakeMyTrip, feels that Indian startups have driven economies of scale, standardisation & bottomline growth.
Reducing import dependency and becoming competent enough to manufacture equipment indigenously will be instrumental in boosting India's medical devices sector.
Harnessing the difference in harvest seasons for India and Africa can address concerns of both cashew processors and growers in India.
Dr Vivek Suneja, Professor at FMS feels that it is critical for Indian startups to focus on real economy issues particularly for services and agriculture.
Dr. Amit Kapoor, Chair, Institute for Competitiveness feels the slowdown is temporary & consumption will remain an integral part of India’s growth story.
Good transport and marketing systems will promote best possible returns to farmers and improve India's agriculture exports in key markets.
Prof Anand Nandkumar, Research Director, Center for Innovation and Entrepreneurship, Indian School of Business, lauds the innovation capabilities of Indian
Slowdown in demand & production of automobiles in India is expected to be temporary, and the sector is projected to pick up with improvement in the economy.
Applications in processed food & cosmetics and volatility in production patterns of Guatemala provide increased opportunities for Indian cardamom exporters.
Samir V Limaye, President, IPMMI, feels that India needs to monitor import of packaging equipment from countries with which we have an MFN treaty.
Despite the growing role of digital marketing, trade shows are still of great importance, as they definitely give your business an edge over competition.
India needs to adopt a strategic approach to boosting the competitiveness of its manufacturing sector, which will hold it in better stead for future FTAs.
Prof D Tripati Rao, IIM Lucknow, believes that speed of execution and implementation of policy reforms are crucial to the success of 'Make in India'.
India should help Afghanistan get stability and develop its transportation, logistics, technology & human capital, so that it can be an equal partner.
Scheme for Integrated Textile Parks targets industrial clusters with high growth potential for strategic interventions by way of infrastructure support.
RBI cutting rates may help tackle the economic slowdown. But the government has to support this by adopting a Keynesian approach.
To tap the abounding opportunities that futuristic technologies offer, India needs a clear roadmap towards skilling its workforce & making them employable.
Rising traffic congestion & shortage of parking space are driving growth in bicycles, but lack of the infrastructure in developing nations is a barrier.
India should aim to grow the share of foreign value-added exports. Domestic value addition may reflect a fallacy in terms of participation under GVC.
Stephen Manallack, Chairman, Genesis India-Australia Horticulture Project, deliberates on major avenues of Australia-India collaboration.
Dr Pralok Gupta, Ass. Professor, IIFT feels that India has competitive advantages in both Mode 1 and Mode 2, which it needs to effectively leverage.
Consensus on India-EU FTA may be tough, considering the presence of tough issues like investment, e-commerce, IP and data protection apart from tariffs.
Broadly the trade basket between India and Vietnam is complimentary and there is immense scope for escalating bilateral trade in merchandise and services.
India should build a national brand for its medical tourism services, step up on international accreditation and adopt a focussed product-market approach.
Prof Sachin Chaturvedi, Director General, RIS, feels that India must reassess its approach to RTAs as well as the specific fears of domestic industry.
India's cashew farmers aren't getting a fair remuneration. To help them, India must relook at its import policy and also adopt farmer-friendly measures.
Critical improvements in India's logistics sector are contingent on a holistic approach towards infrastructure gaps, skill development & technology adoption
Prof Manoj Pant, Director, IIFT, feels that India must explore RTAs, as they will allow gradual adjustment to competition in a multilateral set up.
India's struggle for crude oil will continue for a longer period. Diversification of crude sourcing can mitigate risk of concentrated market power.
Indian tractors are more economical and well equipped with digital dashboards, attractive designs and modern technology necessary to meet market demands.
A strong, commercially meaningful outcome in mode 4 will have huge potential benefits for services trade. But for now, it remains a contentious issue.
Labour's share in national incomes has been falling across borders and India is no exception. This needs to be addressed through coordinated policy action.
Dr G. Raghuram, Director, IIM Bangalore, elaborates on how logistics in India can be a stepping stone for development of its trade with other countries.
It is time for India to replicate its success stories in software development and medical value tourism in the health-tech sector.
Padma Shri Awardee, Dr. R. Vasudevan feels that banning plastic may not be a good idea. Rather, efforts should be towards changing attitudes.
Energy is at the heart of the India-Angola partnership, since the country is emerging as the second largest African oil supplier to India, after Nigeria.
Inda's businesses can't be blamed for being biased towards the domestic market. But we can't stay on the sidelines of mega trading blocs like RCEP for long.
An extensive body of laws covers the entire food value chain in EU. In all its diversity, the EU is a single entity when it comes to safe food.
Assam tea industry is on the verge of a crisis that would be a big setback to India's agricultural economy. The problem calls for a multi-pronged solution.
India needs to push quality milk powder, which has huge demand in developed nations. Collaborations with New Zealand, EU and US will play a vital role.
TERI’s Sourabh Manuja argues that the proposed ban on single-use plastics will not have a negative impact on the Indian economy.
Despite being a leading producer and exporter of food products, India still ranks abysmally low on the Global Hunger Index. Where does the chasm really lie?
Canada and India have longstanding bilateral relations built upon shared traditions of democracy, pluralism and strong interpersonal connections.
Dr. Rakesh Singh debunks the view that bringing the dairy sector into the ambit of RCEP negotiations will necessarily be disastrous for India.
Ashwani Gupta, Director, Vividh Metaltech, feels that while Indian stainless steel companies are competitive, NTBs in EU & US are a big challenge.
Reducing global trade inequality requires greater coherence among nations to benefit from synergies among policies that often operate in isolation.
Indian exporters must strengthen compliance for groundnut exports. But India also needs to take a firm stand on the arbitrariness of standards applied.
To attract FDI opportunities exiting China, India must select potential sectors & provide a facilitating environment, taking cognizance of their needs.
The Indian plastics industry needs to move towards innovative, environment-friendly solutions, as the global war on plastics rapidly goes mainstream
Rajat Luthra, Director, Unique Fragrances shares his thoughts on how India can leverage its positioning as the one-stop shop for spices globally.
India should aggressively push for registration of geographical indications to boost exports for products like Mizo Chilli, Goa Feni and Alphonso Mangoes.
The global market of food colouring agents is projected to reach US$ 3.2 bn by 2023. India can tap this opportunity by aligning standards with key markets.
The post-Lehman era has seen tepid global trade growth, increased protectionism, but also a decisive shift to emerging markets and new success stories.
Frozen French fries market trends show that India has significant opportunity to enhance exports provided production & standards are aligned with demand.
Seeing India's self sufficiency in the dairy industry and the associated livelihoods, the government should consider keeping it outside the ambit of RCEP.
Export subsidies are adopted by developed and developed nations. They distort market dynamics for both exporting and importing countries.
Saudi Arabia is working towards transforming its economy in a post-oil age, which opens up numerous opportunities for collaboration with India.
Public policy should encourage the plastic industry to produce reusable designs and educate people on the importance of reuse.
Bottled water demand is growing due to propensity for quality drinking water, fear of diseases from polluted water, and ease of portability & convenience.
Without the involvement of 85 million small and marginal famers in export business, India’s agriculture export policy will not be successful.
The effect of trade liberalisation on a country’s overall development depends on how it maintains a balance between trade policy and environment
The National Logistics Policy will enable the creation of a single point of reference for all logistics and trade facilitation matters in India.
While the measures announced so far could boost supply, India still suffers from a tenacious sluggishness in consumer demand.
Beyond short term measures like ICT import duties to protect its nascent electronics industry, India needs to build competence across the value chain.
India is rightly framing its own methodology to measure services trade restrictiveness and needs to drive a hard bargain on this matter in trade agreements.
India and Italy are jointly working in infrastructure, tourism, railways, food processing, renewable energy, information technology and agriculture.
India’s cotton yarn exports have plunged 35% in the first quarter of FY’20. The industry is in need of policy support and new direction.
Achieving India's blue economy aspirations will need extensive cooperation between stakeholders, including private sector, scientific communities & NGOs.
Mr. Vijay Setia, President, AIREA, talks about how the Indian rice industry is placed on the global landscape and various growth challenges it faces.
The review of the India-ASEAN FTA should focus on addressing industry concerns and ensuring a win-win without resorting to overtly protectionist measures.
India has the opportunity to develop a nationwide brand of saffron, especially due to expectations of a steep increase in demand in the coming years.
While the export stimulus is welcome to boost growth, structural measures are necessary to ensure sustainable growth in India's foreign trade.
Supporting agriculture and giving subsidies may further depress prices and export volatility to world markets at the expense of smaller countries.
India & France have shared strategic interests with growing cooperation in areas like renewable & nuclear energy, defence cooperation and cyber security.
With its rich portfolio of banana varieties, India can take the lead in developing new, disease-resistant cultivars to combat the TR4 menace.
Capacity building, leather zone cluster, connecting to global value chains and impetus to innovation & brand building can boost value added leather exports.
Dr. Arpita Mukherjee, Professor, ICRIER, talks about the dynamics of the US-China trade war, and how India should negotiate its interests at the WTO.
Allowing 100% automatic FDI in coal mining can help substitute imports, but business challenges could negatively impact investor sentiment.
Weak consumption has been cited as a major factor behind the Indian economic slowdown. Policy measures must address declining wage growth and poor demand.
India’s share of high value and value-added agri exports is quite low. It is imperative to build a robust food processing infrastructure across the country.
India’s marine sector faces critical gaps in the supply chain, which has a detrimental impact on value-added marine exports.
Professor Manoj Pant, Director, IIFT, shares his insights on the highlights of Foreign Trade Policy, 2015-20 and the future roadmap to propel India's trade
Under expansion of India-Chile PTA, Chile would want more and higher concessions, while India can look to expand the ambit to cover services trade.
India’s trade with major partners in RTAs shows that it has been experiencing a trade deficit on an aggregate basis, which has increased post-2013.
The government has addressed the duty issue on refined palm oil from Malaysia, but managing India's trade deficit in the product will be much tougher.
Azhar Tambuwala, Director - Marketing, Sahyadri Farms, speaks about how the FPO works towards making agriculture lucrative for India's farmers.
Agritech startups can play a catalytic role in value creation across the agri chain, but they need the right support to develop India-specific solutions.
Arshdeep Singh, MD, Allied Natural Product, talks about how Indian players need to align to enhance their competitiveness in honey and penetrate new markets
Significant potential exists for enhancing India’s exports to Egypt in products like medicines, motor vehicles, cellular phones and bovine meat.
Depreciation in the yuan will make Chinese exports competitive, but add to the hardships for its consumers and enterprises.
A lot of work needs to be done in terms of infrastructure, safety & security and health & hygiene to boost India's tourism sector.
India is the leader in the global processed diamond industry. US, Hong Kong and India together account for over 50% of global diamond trade.
In this exclusive interaction with TPCI, Ravneet Phokela, Chief Business Officer, Ather Energy speaks about the future of EVs in India, the scope for their expansion, the challenges to their proliferation and so forth.
Complementarities between South Africa and India provide scope for greater collaboration in sectors like food processing, deep mining, defence & fin-tech.
Participation in global value chains to drive exports is critical for India to emerge out of the current slowdown and achieve its long term ambitions.
Soaring battery costs, high import dependence, lack of charging infrastructure & customer inertia.could hamper India's vision for electric vehicles.
Despite a rich history, innovation in India is way below global benchmarks. A better industry-academia interface will help Indian firms compete globally.
Pakistan's decision to suspend India-Pakistan trade relations is myopic. Given the quagmire facing its economy, Pakistan should be more pragmatic.
IIT Madras’ Professor Ashok Jhunjhunwala, shares his thoughts on the future of electric vehicles (EVs) in India and how they could be the next big thing.
Integration and sharing of information across agencies and ports of entry will go a long way in promoting ease of doing business in food trade.
India is neither a major consumer nor exporter of canned tuna. It can raise its global market share to 0.5% by addressing critical gaps in the value chain.
India's rice exports could hit a 7-year low in 2019-20. The government must consider alternate measures of support & help them penetrate new markets.
Agriculture is a major stumbling block in India-Australia CECA and now RCEP negotiations. India can consider conditional access with tech transfer.
Brazil is signalling an openness to free trade of late, and it is an opportune time exploit complementarities and expand the India-MERCOSUR PTA..
Granting access to the tea market under RCEP will be disastrous for the Indian tea industry, especially due to weak growth potential in RCEP countries.
Dr. Babu Reddy, Deputy Director, Coffee Board, talks about challenges faced by Indian coffee players, strategies to boost value exports and the future roadmap for the industry.
Rohit Sareen, Director - Marketing at Sareen Impex Pvt Ltd. takes us through the journey of his successful entrepreneurial venture in rock salt.
The auto industry saw one of its steepest declines in sales in Q2. Resolving policy uncertainty, boosting liquidity & tax sops will be key to a comeback.
A wave of protectionism is clearly visible in global trade as there have been series of sanctions and counter-sanctions. This issue is actually acting as a deterrent in practicing liberal trade.
As the Chinese economic miracle appears to be fading, India must tread carefully to leverage the benefits and also avoid the pitfalls.
India's pepper industry needs to urgently boost its competitiveness in the face of the fierce challenge from exporters like Vietnam, Indonesia and Brazil.
To improve India's gems & jewellery exports, there is an urgent need for large-scale skilling, besides a strategic reorientation towards new markets.
Cashew industry faces many challenges - stiff competition, lack of liquidity & huge reliance on imports of raw nuts. New growth avenues need to be tapped.
Dr Pralok Gupta talks about the various facets associated with the services trade, different approaches to GATS commitments and more.
The Agreement on the Application of Sanitary and Phytosanitary Measures (which is known as SPS Agreement of WTO) sets out the basic framework and standards
India enjoys a great position in the global gems & jewellery segment, when it comes to the cutting & polishing of diamonds.
The UK economy continues to face an uncertain future as far as its membership of the EU is concerned. Brexit remains a substantial drag on economic activities. A majority of forecasters anticipate risks to confidence
Even as agriculture remains a critical sector for the Indian economy employing 58% of its population, its economic contribution to India's GDP is steadily declining.
In 2008, when India and US signed the landmark nuclear deal, their collaboration was lauded as the most strategic and definitive partnership of the 21st century.
India is a leading food producer, but agri-marketing reforms are essential to catapult the country to its rightful position in global agri-trade.
The Finance Minister Smt Nirmala Sitharaman read out the Union Budget 2019-20 on July 5, 2019, amidst concerns of a slowing economy, weak investment cycle and uncertain external environment.
We can’t say that free trade has gone off completely & it's going to be taken over by protectionism; because that is not workable in an interdependent world where almost all production is highly connected through value chains.
Digitisation has made individuals reliant on a number of electronic gadgets for a comfortable, smooth and convenient life.
Backtracking from trade liberalisation is not a nascent phenomenon. While the US currently is leading on trade protectionism actions through tariff escalations, there are abundant evidences that it is pervasive across many countries.
Malaysia is one of the most liberal economies in the world, with a trade-GDP ratio averaging over 134% since 2010. Openness to trade and investment have been key in employment
India is rightly reluctant to protect its data - the most valuable resource of the century. Premature assent to e-commerce rules will not be sensible.
In an era where ‘market access’ appears to have become a closely guarded national asset, ‘liberalisation’ is under siege,
The Thomas Friedman vision of the ‘flat world’ captured global imagination at the turn of this century. But just over a decade later,
The Indian apparel industry has been through a tough phase with four successive years of weak growth/de-growth in exports.
Last week, another chapter on India-US trade hostilities threatened to unravel amid reports that US was planning to fire an H-1B salvo against India.
With Government’s resolve to double the income of farmers in the country by 2022, the role of agri-exports industry assumes significance to uplift financial conditions of the farmers and ensure renumerative return for farm produce.
The mounting demand of curcumin, a substance found in turmeric, in the pharmaceutical, food and cosmetic industries is a major factor driving the growth of the global curcumin market.
With the rise of globalisation, the synergy of international trade and transport logistics has already become general direction and central theme of development for the global economy.
The 4th Meeting of India-Ukraine Working Group on Trade and Economic Cooperation (IU-WGTEC), under the India-Ukraine Inter-Governmental Commission on Trade, Economic, Scientific, Technical, Industrial and Cultural Cooperation was held in New Delhi in April, 2019.
India’s export has increased from US$ 181.26 billion in 2008 to US$ 323.06 billion in 2018. During the past 10-15 years, India’s export basket has undergone several transformations.
Russia’s economy continues to surge at a decent pace, supported by global growth and an improved macro policy framework.
The formation of WTO in 1994 was done based on the objective of moving towards a regime of trade liberalization, market access and free trade.
India has been on the receiving end of a number of cases at the WTO, wherein other members have questioned its subsidy protection to specific industries.
The recent cut in short term lending (repo rate) by RBI by 25 basis points is a soft signal to improve liquidity in Indian economy without compromising on inflation targets.
India is a leading producer of mangoes, accounting for around 40% of global production of the fruit. The country is home to around 30 mango varieties that are grown commercially.
The success of the Indian pharma industry primarily rode on the twin pillars of expertise in reverse engineering and the Patents Act of 1970. The Act allowed for only process patents with regard to inventions relating to drugs, medicines, food and chemicals.
The use of activated carbon to remove harmful impurities like organic contaminants from water has been practised since Roman times.
The metal scrap industry owes its genesis and growth to the essential fact that steel can be recycled infinitely without affecting its material properties.
The Generalised System of Preferences (GSP) assures non-reciprocal, duty-free tariff treatment on certain products imported into the US from designated beneficiary developing countries (BDCs).
While it is true that there has been an overall decline in India’s garment exports for the period April’19-February’19, apparel exports started picking up since October last year.
Import duties are walls designed to protect interests of domestic manufacturers against stiff and unfair competition posed by the foreign manufacturers. However, near zero or zero import duty rates as provided to countries with whom FTAs have been signed have rather gone against the spirits of the FTAs and have hit India’s domestic industries – be it aluminium, steel or copper makers as well as capital goods manufactures.
Aluminium, a non-renewable resource is of immense strategic importance to India, one of the fastest growing economies in the world. A number of sectors including power, automobiles, construction, packaging, industrial and consumer durables are dependent on this metal.
The Indian pharmaceutical industry is the largest supplier of cost effective generic medicines to the developed world with 35.2% share of exports destined to US followed by 3.8% to UK & South Africa. But while Indian pharma players have successfully grabbed opportunities with off-patent drugs in US, they have been unable to crack the code for the second largest economy – China.
E-commerce is truly changing the nature of business around the world. Global e-commerce sales grew by 13% in 2017 to reach US$ 29 trillion according to UNCTAD, with the number of shoppers at 1.3 billion. Notably, the share of internet buyers purchasing goods and services from overseas vendors increased from 15% in 2015 to 21% in 2017, taking cross border B2C sales to US$ 412 billion.
Thailand has been one of the most spectacular economic success stories as it moved from lower income to upper income status in less than a generation. The 1980s in particular brought immense economic growth and reduction in poverty levels for the country.
The agricultural sector in India is progressively opening up to external trade, leading to interdependency between commodity prices across diverse markets.
India is blessed with a favourable demographic dividend and has a pool of resources at its disposal that can bolster India’s garment exports.
Iran is located in Western Asia, bordering the Caspian Sea, the Gulf of Oman and Persian Gulf. The country is in a transition phase towards a market-driven economy.
During the past four-five years, India’s export performance has witnessed more of a seesaw trend. Merchandise exports were in continuous decline between 2013-14 and 2016-17,
Indian textile exporters are quite bullish on the prospect of rising exports in the backdrop of the US-China trade war. For instance, the Synthetic & Rayon Export Promotion Council
International trade of grapes has expanded rapidly over the last few decades, with out-of-season fresh produce now being traded and consumed globally.
Agriculture in the twenty-first century is reinventing itself as a new global business reshaped by globalization, standardization, high-value production, massive growth in demand (both for the food and the biofuel industries), retail and packaging innovations, and a ramp up in efficiency.
The last few days have witnessed an interesting turn of events in the trajectory of trade tensions between the world’s top two economies – US & China.
India’s exports posted a strong growth of around 8% YoY in 2018-19 to reach US$ 535.45 billion. But after that stellar performance in the face of inimical global trade winds, the current financial year has started on a sobering note for Indian exporters.
Iran is located in Western Asia sharing border with the Caspian Sea, Oman and Persian Gulf. A unique feature of Iran's economy is the existence of large religious foundations called Bonyad, whose collective budgets represent more than 30% of central government expenditure.
India’s vibrant democracy is currently deeply involved in the last leg of celebrating the biggest festival of exercising democratic rights through general election. During the election time, many important issues often take backstage, but not crude oil sourcing, pricing and its strategic implications.
The Indian economy witnessed an upsurge in consumer price index based inflation, which rose from 2.86% in March’19 to 2.92% in April’19, the maximum rise in the last six months.
Creation of an energetic and competitive services sector is fast becoming a key characteristic of modern economies. For more than two decades, advanced economies are frequently accounting for two-thirds or three-quarters of services as the overall economic activities of GDP.
Representatives of 22 developing and least developing countries including China, Brazil, South Africa, Bangladesh and the Caribbean are converging in New Delhi on May 13, 2019 for a 2-day WTO Ministerial Meeting to discuss and build consensus on a number of issues.
The urge to meet safety standards and quality of food, transportation from farm to plate and storage are major challenges faced by the developed world. To cater to this demand, food emulsifiers are popularly utilised by manufacturers.
In the backdrop of a persistent trade war between US and India since 2017, both sides seem to have lost optimal trade gains that were expected under normal conditions. It has been a long held view that India needs to sign a trade agreement with the US in order to benefit from the trade liberalization process.
A potential conflict is brewing in the WTO on the issue of formalisation of rules for digital trade. India has placed on record its strong opposition to the proposed e-commerce rules submitted by EU on April 29 at the forum.
Amidst heightened trade tensions with India, US Commerce Secretary Wilbur Ross came on a visit to India to attend the Trade Winds Indo-Pacific Forum. Trade Winds is the largest annual trade mission programme of the US Department of Commerce.
After four years of brisk growth when it doubled its renewable energy capacity to 70 GW, India saw a relatively sluggish growth in terms of power capacity additions in 2018-19. The slowdown was actually visible in thermal power as well, but for an entirely different set of reasons.
Chile is one of the most advanced economies of the Latin American region. Its strong macroeconomic fundamentals have enabled an accelerated reduction in poverty levels from 30% in 2000 to 6.4% in 2017 (World Bank, percentage of people living on US$ 5.5/day).
World almond consumption has burgeoned by 10% each year over the last five years and we are seeing significant development in demand across both developing and developed markets.
India’s crude oil imports has always been a matter of discussion, even during the pre-liberalization period. The importance of oil as a trade commodity can be assessed from the oil shock of 1973, when members of the Organization of the Petroleum Exporting Countries (OPEC) formed a cartel,
India’s pharma exports posted a strong growth of 11% YoY in 2018-19 to reach US$ 19.13 billion. This performance obscures a series of challenges faced by the industry – regulatory challenges, margin pressures, price control in Germany and Brexit.
When we think of India-Australia trade relations, the most visible export from the land of kangaroos that comes to mind would obviously be top cricketers like Steve Smith, David Warner, Shane Watson and Nathan Coulter-Nile, during the IPL season. But both sides would have reason to believe that there is much more to the exchange beyond curry, cricket and Commonwealth.
With the US on an increasingly protectionist drive, H-1B visa processes are getting increasingly more complicated. Consequently, Indian IT professionals are now exploring a new destination – Canada – which is far more eager to accept them.
The case filed by the EU against India’s import duties on ICT products at the WTO has now acquired a whole new dimension. Five countries have asked permission from the dispute settlement body (DSB) to be a part of the negotiations – US, Canada, China Taipei, Thailand and Singapore.
After walking out of the Iran nuclear deal last year, the US had announced a 180-day waiver to eight countries importing oil from Iran in November 2018, allowing them time to seek other sources of oil. Three countries have complied totally so far – Greece, Italy and Taiwan; leaving India, China, Turkey, Japan and South Korea.
The US International Trade Commission (ITC) has released its analysis of the US-Mexico-Canada Agreement (USMCA), the replacement for the NAFTA agreement proposed by US President Donald Trump. It estimates that the deal will improve the US economy by 0.35% when completely implemented, i.e. an increase in the country’s GDP by US$ 68.2 billion.
India’s total exports grew by 7.97% yoy to reach US$ 535.45 billion during FY 2018-19, according to data released by the Department of Commerce on April 15, 2019. In line with projections last month, merchandise exports grew by 9.06% yoy to reach an all-time high of US$ 331.02 billion during 2018-19, crossing the previous benchmark of US$ 314 billion achieved in 2013-14.
International coffee growers are in dire straits at present due to the dual impact of declining coffee prices and increasing labour costs. The International Coffee Organisation estimates that around 25 million farmers grow coffee in 60 countries, and over 90% of these are small growers and are currently compelled to sell their produce well below the cost of production. This has pushed several of them into deep debts, and some have even abandoned their farms to migrate to the cities.
Pasta is an Italian dish which is common across the world owing to its expediency and health benefits. It can be prepared using an eclectic array of raw materials such as durum wheat, semolina, wheat flour, etc.
Mexico is among the world's 15 largest economies and is the second largest economy in Latin America. The country is highly dependent on the United States, its largest trading partner and destination of 80% of its exports.
The changing landscape of international trade negotiations has implied an emphasis towards mega trade agreements. This approach is seen as a stepping stone towards a global free market economy, with many countries expecting it to stimulate economic growth, boost trade and investment, reduce poverty and increase employment.
The WTO agreements covers a wide range of issues related to trade, such as agriculture, textiles, services, food sanitation regulations and others; however, there are a number of simple and key principles that are included in the majority of agreements.
Apparel exporters are headed for difficult times ahead, due to a decline in demand from major markets. Although exports were showing promise in the beginning of the year, there is now a decline in both volume and value terms, according to a report by Drip Capital, which analyses macro trends and proprietary data of the top 100 apparel exporters which posted business of US$ 32 billion for the year till date.
India’s GDP growth slowed down to 7% in FY 2018-19, as per preliminary official estimates, compared to 7.2% in FY 2016-17. Agriculture grew at 2.7%, its lowest rate in three years and the services sector clocked a growth of 7.4%, its lowest in 7 years. But growth in industry has been strong at 7.7% led by manufacturing (8.1%) and construction (8.9%), even as mining grew at a much lower 1.2%.
A group of 76 members led by US, China, European Union and Japan have decided to start negotiating a new framework on e-commerce rules. Although the group is open-ended, India has declined to be a part of the discussions. India has previously opined that WTO must complete the stalled Doha round before bringing new issues to the table.
India is planning to submit a draft paper to protect the rights of its small and artisanal fishermen to subsidies for boats, nets and fuel. In this paper, India will make the case for special and differential treatment to developing and least developed countries on the matter, so that they can retain some subsidies critical for protection of the livelihoods of their small-scale fishers.
India is home to the largest, and arguably the most diverse media and entertainment industry in the world. The country produces the maximum number of hours of content across the world – 2,000 films, 800+ TV channels, 250+ radio stations, 10,000+ newspaper and magazine editions and thousands of live events. It has the world’s largest film industry, both in terms of tickets sold and number of films produced.
Uzbekistan spent most of the past 200 years as part of the Russian Empire, and then of the Soviet Union, before emerging as an independent state when Soviet rule ended in 1991.
India’s basmati rice exports are expected to reach a record high of Rs 30,000 crore in 2018-19, overcoming the previous peak of Rs 29,300 crore in 2013-14, according to a report by ICRA. Key factors driving the growth are strong demand from Iran, improvement in average realisations and consecutively increasing prices of paddy over the last three years.
The global dried fruit powder market size is expected to reach US$ 23.96 billion by 2025 as a result of a positive outlook towards the nutraceutical industry. Consumers are continuously striving for the fulfilment of their nutritional intake through functional food and drinks.
The proliferation of regional trade agreements has continued unabated since the early 1990s. In recent years, this has led to widespread debate on the advantages or disadvantages of regionalism over multilateralism. The debate stems from the increased use of regional trade agreements (RTAs)
India is planning to counter the US decision to withdraw GSP on its exports by imposing retaliatory tariffs from the coming month. If the Indian government goes ahead with retaliatory tariffs, twenty-nine items imported from the US, including
Guatemala has initiated a complaint against India at the World Trade Organisation (WTO) Dispute Settlement Mechanism. In its complaint, the Central American nation has alleged that the sugar subsidies provided by India to its farmers are not in accordance with international trade regulations.
During his address at the 14th CII-EXIM Bank Conclave on India-Africa Project Partnership, Commerce Minister Shri Suresh Prabhu proposed that India and Africa should consider finalizing a free trade agreement (FTA) or a preferential trade agreement (PTA). He stated, “We have a common future. We do not want to do anything at the expense of Africa. We want you to get into an FTA (with India) that will benefit Africa first.”
India’s engineering exports have grown impressively over the years, but the sector needs to move beyond low- and medium-technology products.
India and Egypt share a long and incredible history of bilateral ties that date back to ancient times. The edicts of Emperor Ashoka allude to his empire’s connections with Egypt under the reign of Ptolemy-II. In the more recent past, this association is reflected in the close relations and shared visions of Mahatma Gandhi and Saad Zaghoul; as well as Gamal Abdel Nasser and Jawaharlal Nehru.
India’s huge trade deficit with China has been a persistent area of concern over the years. In 2017-18, the trade deficit had reached a record high of US$ 63 billion.
During his address to global CEOs and trading partners at the eighth International Engineering Sourcing Show (IESS) Commerce Secretary Mr. Anup Wadhawan expressed confidence that India’s exports will reach a record high in 2018-19.
An official delegation from Egypt, comprising of Government and privately owned SEZs in Egypt, is coming to India to seek investments from light and medium industries such as, but not limited to, automotive (auto parts, tyres and rubbers, automobile manufacturers), machinery (construction machinery & heavy trucks, agriculture & farm machinery, and industrial machinery), chemicals (industrial chemicals and household chemicals), packaging (paper packaging, metal and glass containers), food products (agriculture products, packaged foods and meats), building material (construction material) and electrical equipment (electronics & home appliances, and household products).
Worldwide sales for yogurt exports by country totalled US$2.4 billion in 2018. The overall value of yogurt exports increased by an average 3.8% for all exporting countries since 2013 when yogurt shipments were valued at $2.28 billion.
India, a country blessed with natural resources and endowed with large hydro power potential of 1,45,320 MW of which only about 45,400 MW has been utilized so far, is poised to develop this huge potential further. The decision was taken recently at the Union Cabinet meeting that was chaired by Prime Minister Narendra Modi.
The Joint Venture between global majors such as Saudi Aramco and Abu Dhabi National Oil Company (Adnoc) with Indian oil marketing companies – Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) for 50% stake each in Ratnagiri Refinery and Petrochemicals (RRPCL) has been given a go-ahead by Prime Minister Mr. Narendra Modi Government hours before the election dates were announced by the Election Commission of India.
While justifying the withdrawal of GSP rates, the US President Trump pronounced recently that India is an economy which applies high and complex protectionist measures. In this article, we are analysing technically the real picture of Indian tariff and non-tariff structure of some significant products and comparing it with major developed and developing economies.
The Department for Promotion of Industry and Internal Trade (DPIIT) circulated the draft e-commerce policy couple of weeks back in which it proposed regulating cross-border data flows, locating computing facilities within the country to ensure job creation and setting up a dedicated data authority for issues related to sharing of community data. It asserted that the data generated in the country is a national asset and citizens and the government have a sovereign right over it.
At a time when the world is moving towards more environmental friendly use of resources, and even production-focused countries like China have come up with great reforms in their chemical industry, India is debating how its rapid growth can be converted into responsible growth. Henceforth, “Sustainable and Safe Use of Chemicals and Petro-Chemicals: Environment/Health Care/Safety” was the subject of discussion in the day-long seminar organized by The Week magazine in New Delhi.
Egypt is the 62nd largest export economy in the world and the 72nd most complex economy according to the Economic Complexity Index (ECI). In 2017, Egypt exported $30.1B and imported $64.1B, resulting in a negative trade balance of $34B. In 2017 the GDP of Egypt was $235B and its GDP per capita was $11.6k.
Belarus is the 63rd largest export economy in the world and the 30th most complex economy, according to the Economic Complexity Index (ECI). In 2017, Belarus exported worth $28.5 bn and imported worth $33 bn, resulting in a negative trade balance of $4.42 bn.
India’s entertainment sector has historically enjoyed a special appeal in CIS countries, especially Russia, as the Indian cinema once had good access to markets of the erstwhile Soviet Union.
A series of trade and geopolitical concerns continue to weigh on the markets in South East Asia, ranging from uncertainty around US-China trade to widening tensions between India and Pakistan.
Moringa oleifera is indigenous to the sub-Himalayan regions of northern India and Pakistan. Moringa is the sole genus of the flowering plant Moringaceae and is indigenous to the Indian sub-continent.
The new 2019-2022 Strategic Plan introduced by Enhanced Integrated Framework (EIF) is designed to better position LDCs in the global economy at a time of growing concerns about trade.
The EU and Japan are two highly developed economies that already have strong trade and investment links. In addition, Japan is an important strategic partner for the EU and a key ally in the Asia-Pacific region, standing already with second highest trade volume figures between the two.
With a view to grow agriculture sector exponentially, become a major contributor to doubling the farmer’s income and ‘Make in India’ initiative of the Government a major success, the Government of India is working vigorously to boost the food processing industry. This is important so as to add value and reduce food wastage at each stage of the supply chain, which is a major source of concern.
The world is fast becoming smaller and smaller with a rapid growth in global tourism. According to a UN World Tourism Organization report, international tourist arrivals increased by 6% in 2018, to 1.4 billion arrivals worldwide. Experts opine that there is a discernable trend visible in this rapid growth of world tourist arrivals. A sizeable portion of this growth has been driven by rising demand for travel destinations in emerging markets, with India and China leading the way.
Prime Minister Mr. Narendra Modi broke the protocol yet again to welcome Saudi Crown Prince Mohammad bin Salman (MBS). The Crown Prince too, in a welcome gesture, decided not to make his trip to India as a continuation of his trip to Pakistan but returned back to Riyadh only to travel to India the next day. This was India’s diplomatic win vis-a-vis Saudi Crown Prince with India ensuring that it was not hyphenated with Pakistan.
Makhana (Foxnut), also known as Gorgon Nut, grows in India, Korea, Japan and Russia. It comes from the lotus seeds. Foxnut (Makhana) can be mixed with vegetables, popped like corn and made into yummy porridge.
The terms “Blue Economy” or “Blue Growth” are increasingly being used in day-to-day parlance, as many governments, organizations and communities in both developed and developing countries are being aware of the need for a more coherent, integrated, fair , and science-based approach to managing the economic development of oceans.
The world's shrinking supply of arable land and water, the growing use of agricultural feed stocks for industrial purposes, and technological advancements will continue to play a vital role in the ability of agricultural and food production to meet the world's growing food needs.
Malaysia is located in Southeast Asia. Its territory is separated by the South China Sea into two similarly sized regions - Peninsular Malaysia and East Malaysia (Malaysian Borneo). It is part of the most successful regional grouping - ASEAN.
India has come a long way from being a food-deficit country at the time of Independence to a food surplus country. With its varied agro-climatic conditions and large production base for cereals, pulses, oilseeds, fruits, vegetables, dairy, poultry and meat products, the country has become a leading exporter of fresh and processed food products.
Crown Prince Mohammad bin Salman would perhaps be finalizing his wardrobe to board the Royal Saudi plane to New Delhi by the time you read this. The Crown Prince is coming on a two-day state visit to India on February 19, but he will also visit Pakistan during his to and fro visit to India and three other countries. This will be the first state visit of Prince Salman to India, who is also the Vice President of the Council of Ministers and Defence Minister of Saudi Arabia. Interestingly, Crown Prince’s visit is being followed by his new-found friend Benjamin Netanyahu, the Prime Minister of Israel.
With special expertise on export controls and trade remedies because of her flourishing practice at DGS Associates, where she is the co-founder, Ms. Ameeta Verma Duggal excels in representing clients before the Directorate General Trade Remedies and the Director General Foreign Trade. Who else could have been a better person to come up with a voluminous book on the export control laws of India, which continue to evolve consequent to India signing the multilateral export control regimes in the recent past?
Coming closely on the heels of the 40th anniversary of the Islamic revolution, commemorated on a rain-soaked day in Tehran – Iran, India and Iran are set to observe the ‘Chabahar Day’ on February 26 at the strategic port located in Iran and administered by India.
Vice President Mr. Venkaiah Naidu, Minister of Commerce & Industry Mr. Suresh Prabhu and Finance Minister Mr. Piyush Goyal are all talking in unison of a new India marching towards becoming a USD 5 trillion economy by 2025. Niti Aayog too has unveiled plans to make India a USD 5 trillion economy, but by 2030. In its much acclaimed “Strategy for New India at 75”, Niti Aayog has envisioned to accelerate growth to 8-9% and make the country a 5-trillion dollars economy by 2030. It hopes achieve this goal through focus on doubling of farmers’ income, boosting Make in India, upgrading the science, technology and innovation ecosystem, and promoting sunrise sectors like fintech and tourism.
The United States, under President Trump’s regime, is mounting undue and unjustified pressure on India in its trade dealings through threats like withdrawal of trade benefits under the Generalised System of Preferences (GSP). This is despite India taking several measures to demonstrate its intent to address Trump’s trade concerns. Irony is clear! The US has the highest trade deficit with China, which had forced it to put tariff barriers on imports from China. In 2017, the US trade deficit with China was US$566 billion. US’s trade deficit with India is at US$22 billion only. Yet, while the US President Donald Trump speaks admirably of Chinese President Xi Jinping saying that he has ‘great respect’ for his Chinese counterpart, he taunts India and has even mocked Prime Minister Mr. Narendra Modi when listing India’s development aid in Afghanistan. This is despite India’s unflinching efforts towards narrowing the trade deficit.
IndusFood has evolved! And how? Now into its second year, it is already a much sought after B2B event for leading global buyers of F&B products. This is evident from the list of about 800 distinguished wholesale buyers, big sized food chains and several government-level delegations that will be converging at Greater Noida seeking F&B commodities and products showcased by more than 500 exhibitors covering 15 product zones. From here, the event is bound to develop further in the years to come, asserts a very confident TPCI head.
TPCI is inundated with letters of appreciation and feedback congratulating TPCI and its team on the handling of IndusFood. Several team members connected with various international buyers or Indian exhibitors have received letters and phone calls, congratulatory messages on their cellphones and promises of coming again for next year’s IndusFood, in 2020.
Dating back to ancient times, technology has played a crucial role in impacting factors of production. We have been witness to countless occasions in history when a slight technological advantage on opponents has enabled an army to inflict crushing defeat on its adversaries.
The union cabinet has approved the country's first Agriculture Export Policy with an aim to double farmers' income and agricultural export to $60 billion by 2022. One of the objectives of the policy include creating a stable trade policy regime through diversifying export basket and destinations and boosting high value and value-added agricultural exports with focus on perishables, so as to reach US$ 100 billion export target in the next few years.
President Trump has once again threatened that he is ready for another shutdown only a few days after 800,000 federal employees returned to work after a 35-day unpaid furlough.
In a welcome move, which is sure to have long-term growth repercussions on the Geographical Indication products from India, Mr. Suresh Prabhu Minister of Commerce and Industries, Govt of India has announced that all the airports in the country will soon have ‘Geographical Indication Stores’ which will promote products unique to the region in which the airport is located.
Odisha state government has recently been proactive in their attempt to develop trade opportunities for the businessmen through various means, including organizing trade fairs and participating in trade fairs.
South Africa has been in the thick of narratives in India at least from the time when Gandhi, as a young lawyer practicing in South Africa in the early years of 20th century, commenced a movement against apartheid in South Africa.
It was in April 2000 that the Special Economic Zone (SEZ) policy came into inception. Its prime objective was to enhance foreign investment and provide an internationally competitive and hassle free environment for exports. Subsequently, the Special Economic Zones Act, 2005 was passed by the Parliament and ratified by the President in mid 2005. On 10th February, 2006, the SEZ Act, 2005 came into effect, which was supported by SEZ rules.
Trans fat kills! Globally, trans fat intake leads to more than 500,000 deaths of people from cardiovascular diseases every year. India too accounts for a large number of deaths due to trans fats. Keeping this in mind, the Food Safety and Standards Authority of India (FSSAI) has taken up an initiative to reduce or eliminate industrially produced trans fat in the food supply.
Terming IndusFood-II as a major event, the Commerce & Industry minister said during a pre-launch announcement made in a Press Conference related to the grand event that IndusFood would greatly help both farmers and exporters of F&B products.
Other than being the world’s fastest-growing major economy, India also has one of the fastest growing food processing industries in the world, Mrs. Harsimrat Kaur Badal, Union Minister of Food Processing Industries has said.
Robust processing infrastructure can also help India curb the problem of food wastage. This was the view of Union Minister of Food Processing Industries Mrs. Harsimrat Kaur Badal who was addressing the press consequent to the inauguration of IndusFood at Greater Noida.
IndusFood, the grand event that was signed off on the evening of January 15, 2019 was grand in every sense. Other than the 800 global buyers from 78 countries who conducted over 12500 B2Bs with about 500 Indian exhibitors, IndusFood was uniquely successful in several other ways.
One of the major features and objectives of the Agriculture Export Policy is to double the agricultural export and position India as a major agricultural exporter in the world. By this policy, the Prime Minister has already done the groundwork for doubling farm income.
Israel is located in the Western Asia, close to Mediterranean Sea. It is a developed country with a very high HDI. The United Nations Development Programme ranks Israel 22nd in terms of Human Development Index with the value of 0.903. It is ranked 45th in ‘Ease of Doing Business’ by World Bank released in 2018.
Agricultural and food markets are far more globally integrated than they were a decade ago. But many developing countries find it difficult to compete in the international agricultural marketplace, and seek trade-related technical assistance, especially to help them understand and respond to both government- and consumer-driven requirements of foreign markets, including sanitary and phytosanitary (SPS) measures.
With rising health consciousness and change in lifestyle organic food has emerged as the biggest revolution and food trend. In general organic food is certified through a certification process since organic farming differs from the conventional farming in terms of the whole agricultural process from ploughing to sowing.
The proliferation of regional trade agreements has continued unabated since the early 1990s. In recent years, this has led to widespread debate on the advantages or disadvantages of regionalism over multilateralism. The debate stems from the increased use of regional trade agreements (RTAs) in a world now ruled by an improved and disciplined multilateral trading system.
India, contemporarily known as the home of spices, has a long trading history with ancient and medieval civilizations of the world. Ancient trade routes connected India with Europe, Middle East and the rest of the world exists as a testimony to world’s preference for Indian spices since ancient times.
Draft Agri export policy 2018 aims to increase India’s export from US$ 30 billion to US$ 60 billion by 2022. It is a commendable initiative since now the country has shifted its focus towards agricultural exports rather than just production and domestic consumption.
Vietnam is located in easternmost part of South Asian Continent. It is a developing country and is a member to the most successful regional economic group-ASEAN.
As per the Draft Agriculture export policy 2018 by Ministry of Commerce and Industry Indian ethnic foods export is valued at USD 114 million currently. It has been projected to grow at USD 200 million in the next three years. India’s domestic market for Indian ethnic ready to eat and ready to cook too is growing very rapidly. Finally Indians are gradually moving to ready to eat ethos.
India’s agricultural trade surplus recorded a more than ten-fold increase between 1991-92 and 2013-14. Three years later, the picture is vastly different. Between 2013-14 and 2016-17, agricultural exports fell by 22% while imports increased by 62%. As a result, the trade surplus has fallen by 70%.
On an average per year, average value of livestock products constitutes 6 % of Indian agricultural export earnings and 1% of total export earnings. Influx of foreign goods to the Indian market has raised some concern about the country’s livestock sector and dairy industry in the regime of WTO.
India has challenged the WTO dispute panel's ruling that the country's move to impose safeguard duty on some iron and steel products was inconsistent with certain global trade norms India notified the WTO's dispute settlement body of its decision to appeal to the Appellate Body on certain issues of law and legal interpretations in the panel report
Bilateral trade between India and Maldives is not much at present, standing at a mere USD 222.68 million with a surplus in favour of India. This rather modest trade does not bespeak of the good India-Maldives relations that exist, characterized by close friendship, understanding and cooperation.
The Ministry of Micro, Small & Medium Enterprises (MSME) is poised to take its sustainable development initiatives till the grass root level, by empowering women even in remote villages through creating livelihood for them, tells Mr. Ram Mohan Mishra, Development Commissioner & Additional Secretary, MSME.
India’s agri-export so far has been a story of untapped potential. India is second in global agricultural production, but its share of world agricultural exports is as low as 2%. Agricultural exports’ contribution to India’s GDP is also as low as 2%, lower than other developing agrarian country.
India’s trade deficit is rising! During the April-October period of the current fiscal, exports grew by 13.27% to $191 billion while imports jumped by 16.37% to $302.47 billion, leaving a trade deficit of $111.46 billion during the first seven months of the current fiscal. The deficit was $91.28 billion in April-October 2017-18. India’s Current Account Deficit (CAD) is seen at 2.8% of GDP this year against 1.9% last year.
Iraq is the biggest consumer market in the Gulf region. India had a burgeoning trade going on with Iraq till 2002. This trade got affected when political condition changed in Iraq. Afraid and having security concerns, the Indian businessmen shunned the Iraqi market. It is now that the Indian business delegations have started going to Iraq and started participating in trade shows there.
The word biscuit is derived from an old French word ‘bescuit’ which means "twice-cooked”. This is because biscuits were originally cooked in a twofold process: first baked, and then dried out in a slow oven.
Political uncertainty, fear and security concerns, coupled with lack of direct sea and bank route, kept away the Indian businesses from Iraq since 2002. With the bilateral trade touching $19 billion between 2017-18, there are huge opportunities for Indian companies in various sectors including commodities, infrastructure and crude oil.
One of the most important impediments for developing countries is trade costs. Non-tariff trade costs in today’s world like freight, insurance, and other cross-border related fees which tend to be much larger than any remaining import tariffs as products travel through the various stages of production.
Restrictive trade measures including tariffs and import duties rose sharply over the past one year. This could threaten global economic growth, trade and jobs, according to the World Trade Organization.
Delhi’s Dwarka region will soon have a massive Convention Centre, which is going to be Asia’s 2nd largest state-of-the-art Convention Centre and the 3rd largest in the world being designed with an objective to handle international conferences, exhibitions and trade shows so as to host summits of the level of G20 Summit and other such mega International events in the country.
Russia is located in both Asia and Europe, it is a transcontinental country. Its major part lies in Asia. It is the world’s largest country in terms of area.
In order to enhance trade and connectivity, India, Russia and Iran are now planning to launch a new cargo transport corridor, which would be a cheaper and shorter alternative to the Suez Canal or the China route and is expected to reduce transport costs by $2500 per 15 tons of cargo, besides reducing the travel time by nearly half.
Mr. Suresh Prabhu, Hon’ble Minister for Commerce and Industry has come out with the first ever policy for agriculture exports which removes export restrictions for organic, agro processed products and gives special preference to high value, value added, perishable products.
Baghdad, Najaf, Karbala and Erbil were the 4 destination points for Trade Promotion Council of India (TPCI) to hold BSM meetings of Indian company representatives with prominent buyers from Iraq. The event, executed by the Indian Embassy in Iraq, was also a confidence building exercise for Indian exporters, many of whom quit doing business with Iraq when the country went into turmoil post 2002.
India plans to have bilateral discussions with China on duty cuts under the Regional Comprehensive Economic Partnership (RCEP) trade agreement.
The Union Cabinet is likely to take up agriculture export policy in the first week of December. The proposed agriculture export policy aims at doubling outbound shipments of farm products and increasing their share in the world market, The Commerce Ministry having already finalized the policy and forwarded it for the consideration by the Government.
APEDA, Ministry of Commerce and Industry defines Organic products as “the products grown under a system of agriculture, without the use of chemical fertilizers and pesticides with an environmentally and socially responsible approach”.
Kazakhstan is located in the Central Asia. It is the world’s largest landlocked country. The country is endowed with natural resources such as petroleum, gas, chromium, lead, zinc and uranium.
India was one of the first Asian countries to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia’s first EPZ set up in Kandla in 1965.
It was only in September 2018 that Prime Minister Narendra Modi had visited Viet Nam. This has been followed by the visit of President Ram Nath Kovind to Viet Nam from November 18-20, 2018. The Vietnamese Prime Minister Nguyen Xuan Phuc was the Chief Guest at India’s Republic Day celebrations in January 2018 and only a few weeks later President Quang came on a visit to India.
Ministry of Commerce and Industry is in talks with the various countries associated with World Trade Organization (WTO) to work out the way forward for reforming the organization.
Global temperatures are already up by about 1 degree Celcius (1.8 degree Fahrenheit) from pre-industrial level and are rising at a rate of 0.2 degree Celcius a decade.
A convoy of vehicles including several cyclists starts moving from Leh in the Northern corner of Jammu & Kashmir and traverses amidst snow-fall and occasional incidents of firing and stone-pelting to reach the capital Srinagar.
Aim is high but we are already on the course! India that was ranked 142 among 190 nations on the World Bank’s ease of doing business ranking in 2014 has climbed to 77th rank this year. And there seems no stopping! Prime Minister Narendra Modi has now set an ambitious target of India breaking into top 50 countries in the World Bank’s ‘Ease of Doing Business’ ranking and is aiming to nearly double the size of India’s economy to USD 5 trillion. According to him, this growth has been achieved because the policy paralysis has ended and his government was giving policy-based governance that has helped catapult the country from to the 77th position this year.
Economic ministers from the Association of Southeast Asian Nations (ASEAN) entered into the grouping’s first ever agreement on e-commerce to facilitate cross-border e-commerce transactions within the region.
India has thousands of years of historic cultural and trade relations with Iran, several centuries before the Americas were discovered. Irony of economic circumstances necessitate India and the rest of the world to listen to the dictates of one country, whose Presiden