European Commission has claimed that its agriculture proposal submitted to the World Trade Organisation is fair and a win-win with sufficient safeguards to protect food security of developing countries including India.
A healthy growth in India's services segments has helped the country's total exports and imports of goods and services to cross the $800 billion mark during the first half of 2023, despite a slowdown in global demand, think tank GTRI said in a report on Monday. According to the analysis of the Global Trade Research Initiative (GTRI), exports of goods and services rose by 1.5 per cent to $385.4 billion during January-June this year, as against $379.5 billion in January-June 2022. Imports, however, dipped by 5.9 per cent to $415.5 billion during the six months of this year, as against $441.7 billion in January-June 2022.
While keeping their options open, the United States and European Union have signaled that talks with Iran over its nuclear programme could resume, for the first time in more than a year, after Tehran dropped its pre-conditions to a dialogue.
British Prime Minister Rishi Sunak on Monday sacked his Indian-origin Home Secretary, Suella Braverman, and replaced her with James Cleverly, while former premier David Cameron, in an unusual move, is back in the frontline government as the new foreign secretary.
World's costliest rice, Indian basmati, may lose the tariff concession it gets in the European Union if the region's latest draft on new rice import regime is made into a law
The European Union on Friday made it clear that India will have to take a 'few steps' like associating with NPT and CTBT before the 25-nation body can decide on cooperating with it in civil nuclear energy.
Ban on US rice by the European Union and Cuba is turning out to be detrimental for the American rice sector as the commodity may found it tough to get buyers now.
After a stellar run on the bourses that saw tractor stocks rise up to 52 per cent, analysts are turning cautious on the sector as muted demand trends may weigh in the near-term. Total volumes in the tractor segment for the last three quarters of the current financial year (9MFY24) have remained weak with VST Tillers, Escorts Kubota, and M&M seeing declines of 21 per cent, 5 per cent, and 3 per cent year-on-year (Y-o-Y), respectively, during the period, amid patchy rainfall, delayed crop harvest, and lower reservoir level. Across industry, total domestic sales volume so far in the current financial year (April '23 to January '24) has declined 5 per cent Y-o-Y, as per Tractor Manufacturers Association (TMA).
With an ambitious target to more than double their bilateral trade to $200 billion in the next four years, India and EU hoped on Friday they can resolve differences and reach a free trade agreement within a year.
A visiting European Union team Friday promised the Sikh community that it would try to impress upon France the "cultural" sentiments attached with the turban and ask them to lift the ban on wearing it in schools.
The United States and European Union have slapped tougher and "wide-ranging" sanctions on Russia, targeting its energy, finance and defence sectors for its continued support of separatists in Ukraine.
As casualty figures rose from the devastating quake the European Commission, the EU's executive arm, said up to three million euros could be approved within a day if requested by agencies working on the ground.
While admitting India's persistent stand on the issue might delay the agreement, a top commerce ministry official said the talks were on track. "We will maintain a hardline stand," said the official. It is to be noted, the sixth round of EU-India trade negotiation in Delhi in March ended without any substantial progress because of the tariff-related issues. The EU is India's largest trading partner and the total bilateral trade stood at over $70 billion in 2008-09.
US, EU have flexibility to shield 65 sensitive textile products from immediate formula cuts.
The 'temporary ban' which came into force on Thursday will remain effective until December 2015 after authorities in Brussels found consignments infested with pests they fear could damage European salad crops.
Prime Minister Manmohan Singh will review the proposed bilateral trade and investment agreement between India and the EU at the meeting of the Trade and Economic Relations Committee (TERC) on May 29.
What all global leaders need to understand is that no Generative AI regulation will work unless they start with the basics, which is data collection, asserts Prosenjit Datta.
The World Trade Organisation agreed on Monday to an Indian demand for a probe into special trade deals granted by the European Union to countries fighting drug trafficking.
India abstained in the United Nations General Assembly on a draft resolution introduced by Pakistan and co-sponsored by China on Islamophobia, asserting that the prevalence of 'religiophobia' against Hinduism, Buddhism, Sikhism and other faiths facing violence and discrimination must also be acknowledged rather than singling out just one religion.
Foreign ministers of G20 major economies will meet in the national capital on March 1 and 2 to deliberate on pressing global challenges amid escalating confrontation between Russia and the West over the Ukraine conflict that entered the second year this week.
A third of the global economy will be in recession this year, the IMF chief has said, and warned that 2023 will be "tougher" than last year as the US, EU and China will see their economies slow down. Kristalina Georgieva, the chief of the International Monetary Fund (IMF) made these grim assertions on Sunday during a CBS news programme "Face the Nation." It comes at a time when the ongoing conflict in Ukraine shows no signs of abating after more than 10 months, with spiralling inflation, higher interest rates and the surge in coronavirus infections in China fuelled by the Omicron variant.
With exports on a downturn due to the economic crisis battering major markets in the US and EU, China has said it will turn to developing countries to sustain its foreign trade-dependent economic growth.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
The G20 leaders will deliberate on pressing global issues at the grouping's annual summit here on September 9 and 10. India is hosting the summit in its capacity as the current G20 chair.
Days ahead of India-EU annual summit, Commerce and Industry Minister Anand Sharma on Wednesday said a few ends are yet to be stitched for concluding the proposed Free Trade Agreement (FTA) between the two sides.
The chemicals sector's recovery could be delayed until FY25 if the current trends of weak demand and flat pricing continue. Following a subdued September quarter, the revenue and profit performance of listed chemicals companies are anticipated to fall short of initial expectations of an improvement. Despite some price stability, the demand trajectory remains uncertain.
Polling stations across the United Kingdom opened on Thursday morning to decide the historic referendum on whether the country should remain a member of the European Union or leave the politico-economic union of 28 member states.
The decision was taken along with six partner countries backing the so-called International Thermonuclear Experimental Reactor project.
President Xi is also skipping the ASEAN (Association of Southeast Asian Nations) and East Asia summits in Jakarta this week.
Underlining the contribution of non-resident Indians, Union Finance Minister Nirmala Sitharaman on Tuesday said remittances sent to the country by overseas Indians were about $100 billion for the year 2022, an increase of 12 per cent in one year. Speaking at a session during the Pravasi Bharatiya Divas (PBD) convention in Madhya Pradesh's Indore city, she described NRIs as the "real ambassadors of India" and appealed to them to use made in India products and services as far as possible so that the country's individual brand can be promoted across the globe. Sitharaman also said that after the "China plus one" policy, the world is now talking about the "European Union (EU) plus one" policy.
Our government shows a benign mask to the world behind which its fangs are bared against its own citizens, observes Aakar Patel.
India is trying to fish in Pakistan's troubled waters as far as marine products are concerned.
Commerce secretary Sunil Barthwal is set to attend a two-day meeting from October 23 at the World Trade Organization (WTO) headquarters in Geneva, that would focus on finding solutions and giving the 'necessary political push' for at least some crucial global trade issues. Next week's meeting comes ahead of the WTO's 13th ministerial conference (MC13), scheduled in Abu Dhabi in February 2024. It will see participation of senior government officials from all WTO member nations.
