The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
'Grassroots-level corruption, which disrupts the last-mile work, cannot be ignored in your enthusiasm and drive to get going to complete the project.' 'Like it was in MGNREGA, in some states, it is the case with the Jal Jeevan mission.' 'The last minute levels of corruption can ruin the intent of the project itself.' 'When you see that people can game a particular well-intended and well-crafted project, you need to correct that.'
India and Russia are expected to sign a bilateral mobility agreement during President Vladimir Putin's visit to New Delhi, establishing a framework for legal migration, worker protection, and expansion of skilled Indian manpower in Russia.
Next week's three-nation foreign tour of Prime Minister Narendra Modi will see India and Oman sign a free trade deal. The visit will also pave the way for agreements with Ethiopia and Jordan to increase India's bilateral trade and investments.
'Don't look at Russia only as a place to earn quickly and then leave.' 'Try to build experience in serious companies, skills and certifications that will serve you anywhere in the world.'
The government on Wednesday approved two schemes worth Rs 45,000 crore to help exporters tide over the impact of high tariffs imposed by the US on Indian shipments.
A fire broke out at the main venue of the ongoing United Nations COP30 Climate Summit in Brazil's Belem on Thursday, forcing thousands of people to run for safety.
On the table are additional batches of S-400 surface-to-air missile systems from Russia, which India used with immense success during Operation Sindoor. India could buy at least two squadrons of Su-57 fighter jets plus joint production of S-500 air defence systems.
Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
Wholesale price inflation (WPI) softened to 0.13 per cent in September on easing in prices of food articles and manufactured items, government data showed on Tuesday. WPI-based inflation was 0.52 per cent in August and 1.91 per cent in September last year.
The government will soon initiate action to restructure corporate debt in textile industry involving Rs 18,000 crore (Rs 180 billion) in ailing units.
The rising rupee has pulled down textile exports, which have fallen short of the first quarter target by 36 per cent to $4.8 billion. The government had set the target of $7.5 billion for the first quarter ended June 30.
'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
Textile exports from India are expected to register a 25 per cent growth during this year, a senior textile ministry official said on Monday.
Prime Minister Manmohan Singh has convened a meeting on Wednesday on bailing out the textile industry following the surge in input costs due to a sharp hike in the minimum support price of cotton in September.
Talking to media persons after taking charge of the new portfolio, she side-stepped questions about Bharatiya Janata Party president Amit Shah being behind her shift saying it is not individuals but the party who takes such decisions.
The United States action of levying 25 per cent additional tariff on Indian goods is 'unfair, unjustified and unreasonable', India said on Wednesday in a firm reaction, signalling increasing tensions between the two strategic partners over New Delhi's energy ties with Moscow.
After registering a positive growth for two months, India's exports slipped into negative territory again, contracting 2.17 per cent year-on-year to $38.73 billion in May due to a fall in global petroleum prices, while trade deficit narrowed at $21.88 billion during the month.
The government's estimate that 300,000 to 500,000 people will lose their jobs -- is well below the projections of industry lobby groups, which put the number at around 1 million. The textiles and garments industry is the second-largest employer in India after agriculture. It directly employs 35 million people and indirectly provides livelihood to about 88 million people.
The central government has revised its guidelines for the textiles centre infrastructure development scheme by hiking the central assistance component to 100 per cent from 50 per cent to widen its scope and speed up implementation of the scheme.
The government on Wednesday said it is confident that textiles exports target of USD 33 billion for 2011-12 will be achieved as there is a good demand from markets like Japan and Latin America.
The commerce ministry recently announced that it intends to switch over to a small negative list for trade with India by the end of February and to phase out this regime by the end of the year.
India's textiles exports registered a modest increase of nine per cent during April-October this fiscal, despite an impressive 43 per cent in jute and 12 per cent increase in ready-made garment exports.\n\n\n\n
Another priority in the first 100 days could be the launch of an e-platform -- Trade Connect -- to help exporters connect with stakeholders of international trade.
To burnish production-linked incentive (PLI) schemes, the government is considering an overhaul of some of them relating to sectors such as textiles and pharma, and making incentive payments quarterly, officials in the know said. In a bid to cut the delay in processing incentive claims, the government is looking at switching to a quarterly disbursement of incentives. Currently, in most schemes, incentives are annual.
The trade relationship between India and the United States has been strained by the imposition of 25% tariff by the US on Indian goods.
An Indian commerce ministry team has reached Washington for another round of talks from Monday on the proposed bilateral trade agreement (BTA), an official said. Chief negotiator of India and special secretary in the Department of Commerce, Rajesh Agrawal, will join the team on Wednesday.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
West Bengal Chief Minister Mamata Banerjee claims a Bengali-speaking woman and her child were threatened in Delhi after an alleged assault. She urges Bengali migrant workers in BJP-ruled states to return to Bengal if harassed and questions the absence of central commissions in BJP-ruled states when atrocities occur.
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
India's exports rose 9.03 per cent to $38.49 billion in April, the highest in six months, driven by healthy growth in sectors such as electronics and engineering goods, while the trade deficit widened to a five-month high of $26.42 billion. According to the commerce ministry data released on Thursday, imports increased by 19.12 per cent year-on-year to $64.91 billion in April due to a rise in shipments of crude oil and fertiliser.
'If you don't fulfil whatever they ask, you are in trouble.'
An Indian commerce ministry team will soon visit Washington for another round of talks on the proposed trade agreement with the US to iron out differences in sectors, like agriculture and automobiles, a government official said on Thursday.
India's exports grew marginally by 0.7 per cent to $41.97 billion in March, while the trade deficit stood at $21.54 billion in the month, the latest government data showed on Tuesday.
The commerce ministry is working on different scenarios to assess the possible fallout of reciprocal tariffs to be imposed by the US administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to announce tariffs or import duties to bring down America's trade deficit, and promote the country's manufacturing.
Government employees in Bangladesh locked down the main gate of the Bangladesh Secretariat in Dhaka, protesting a new service law that allows for easier dismissal of officials for misconduct. The protest, which lasted for about half an hour, disrupted government operations. The employees also threatened to continue their protests until the ordinance was scrapped. Meanwhile, the protest by employees of the Dhaka South City Corporation, demanding the installation of BNP leader Ishraque Hossain as its mayor, has brought administrative services to a halt. These protests, coupled with concerns raised by the business community and the military, highlight a growing sense of unease in Bangladesh over the policies of the interim government.
