Latest news with #ShreyaNandi
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Business Standard
2 days ago
- Business
- Business Standard
India-Canada trade deal gets a second wind as diplomatic ties improve
Both countries have agreed to resume talks for an interim trade agreement in a volatile global scenario as part of their effort to reset diplomatic relations following a bitter fallout under Trudeau Shreya Nandi Delhi Listen to This Article After an acrimonious fallout late last year, India and Canada are tentatively trying to reset diplomatic relations, following the establishment of a new government in the north American nation, with the resumption of talks for an interim trade agreement. The new push comes after Indian Prime Minister Narendra Modi and his Canadian counterpart Mike Carney met on the sidelines of the G7 Summit in Alberta, where they also agreed to restart senior ministerial as well as working-level engagements across various domains to 'rebuild trust' and 'bring momentum' to the relationship. Both leaders have also decided to designate new high commissioners
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Business Standard
2 days ago
- Business
- Business Standard
Goyal discusses FTAs with industry, exporters ahead of key trade talks
Piyush Goyal meets export councils and industry groups to review trade pacts, gather views on new FTAs and SEZ reforms as India negotiates key global agreements Shreya Nandi Mumbai Commerce and Industry Minister Piyush Goyal on Monday discussed opportunities created by the recently concluded free trade agreements (FTAs), along with industries' and exporters' views and expectations from the proposed and ongoing trade negotiations, an official statement said. There were also discussions around FTAs concluded in the past and the challenges in utilisation of such pacts. The minister was chairing a meeting with export promotion councils (EPCs) and industry associations. Representatives from various sectors such as textiles, apparel, engineering, gems and jewellery, medical devices, and the services sector were also present. The meeting assumes significance as a trade delegation from New Delhi, led by the chief negotiator and commerce department Special Secretary Rajesh Agrawal, is currently in Washington DC to negotiate an early tranche of the India–United States (US) bilateral trade agreement (BTA). In addition, India and the European Union (EU) are negotiating a trade deal, with the aim of finalising it by December. Negotiations are also ongoing with New Zealand, Oman, Peru and Chile. Separately, India and the United Kingdom (UK) have started the process of legal scrubbing of the recently concluded trade deal. 'The session also featured presentations from the Department of Commerce on the performance of SEZs and the recent reforms undertaken, as well as further reforms proposed. The objective of the proposed reforms was to simplify procedures, increase economies of scale, and utilise idle capacities at SEZs to realise the country's objective of achieving a US$5 trillion economy by 2027,' the statement said.
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Business Standard
19-06-2025
- Business
- Business Standard
India's trade with GCC in focus amid Iran-Israel ongoing conflict
India's trade with West Asia is crucial, considering that apart from Russia, it imports crude oil from Iraq, United Arab Emirates (UAE) and Saudi Arabia Shreya Nandi New Delhi Listen to This Article Amid the ongoing Iran-Israel conflict, traders are worried that conflict will result in disruption and escalate freight costs. Trade with West Asian nations is crucial for India, considering that nearly two-thirds of its import of crude oil and half its inbound shipment of liquefied natural gas pass through the Strait of Hormuz, which Iran has now threatened to close. India's trade with West Asia is crucial, considering that apart from Russia, it imports crude oil from Iraq, United Arab Emirates (UAE) and Saudi Arabia. Among the West Asian nations, the majority of India's trade is with the Gulf Cooperation Council
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Business Standard
29-04-2025
- Business
- Business Standard
Commerce ministry plans to extend RoDTEP scheme beyond September 30
The RoDTEP scheme came into effect in 2021 and refunds the embedded non-creditable central, state, and local levies paid on inputs to exporters to boost India's exports Shreya Nandi New Delhi Listen to This Article The Ministry of Commerce and Industry is looking to extend its export-incentive scheme -- the Remission of Duties and Taxes on Exported Products (Rodtep) -- beyond its current expiration date of September 30. Exporters have been appealing to the government to continue the scheme past that date, amid ongoing geopolitical uncertainties and the threat of reciprocal tariffs from the United States -- which have been largely paused for 90 days starting April 9. 'The scheme will be extended beyond September 30. Generally, an end date is put from the commerce ministry's side to monitor that it doesn't exceed the budget allocated
