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  • Piyush Goyal to address G20 Trade Ministers Summit in Italy on October 12, holds bilateral meetings Oct 11, 2021 07:59 PM IST

    Piyush Goyal to address G20 Trade Ministers Summit in Italy on October 12, holds bilateral meetings

    India's engagements and policy push at the summit are guided by the government's aims to reach $400 billion worth of exports in FY22, the Commerce Ministry has said.

  • EXCLUSIVE | Global vaccine patent waiver not expected until WTO's ministerial in December: Sources Oct 04, 2021 02:31 PM IST

    EXCLUSIVE | Global vaccine patent waiver not expected until WTO's ministerial in December: Sources

    Multiple people in the know stress that talks have broken down due to opposition from wealthy nations like EU, Switzerland and UK, egged on by a non-committal US which has changed its position. The TRIPS vaccine waiver can now only happen in December when trade ministers of all WTO nations converge for the 12th ministerial conference.

  • Explained | Why has the government again extended its foreign trade policy ? Sep 29, 2021 03:56 PM IST

    Explained | Why has the government again extended its foreign trade policy ?

    India has again postponed a new Foreign Trade Policy (FTP) announcement, choosing to extend the old one until March 31, 2022. The FTP, set to run from 2015 until 2020, targeted $900 billion of exports by 2020. The target had to be scaled down first because of a slowdown in global trade beginning at the end of 2018 and then the onset of the Covid-19 pandemic. Moneycontrol takes a deep dive into why India quickly needs a new FTP, why there has been a hold-up in announcing one, and what the implications are of persisting with a policy that was supposed to end in 2020.

  • Exclusive | Emergency steps to stem container crisis expected by early next week Sep 06, 2021 03:33 PM IST

    Exclusive | Emergency steps to stem container crisis expected by early next week

    The Commerce Department wants more raw materials be transported through bulk carriers, which are massive ships that are designed specifically to carry industrial and agricultural cargo.

  • Exclusive | Finance Ministry not in favour of SEZs selling in domestic market at reduced duties Jul 19, 2021 02:19 PM IST

    Exclusive | Finance Ministry not in favour of SEZs selling in domestic market at reduced duties

    As successive waves of COVID-19 make exports volatile, exporters and manufacturing firms inside Special Economic Zones (SEZs) want to sell their products in India's domestic market. While they point to goods from India's major trade partners coming in at reduced duties, in any case, the government is not convinced yet

  • Exclusive|Biggest scheme for export insurance remains a non-starter even as govt announces major funds Jun 30, 2021 02:16 PM IST

    Exclusive|Biggest scheme for export insurance remains a non-starter even as govt announces major funds

    The Niryat Rin Vikas Yojana was announced in September 2019, and served as the anchor in the government's plan to boost trade in Budget 2020. It is yet to be implemented.

  • Country specific strategies, diplomatic push and targeted promotion ensured stellar FY21 for Agri exports Jun 18, 2021 02:28 PM IST

    Country specific strategies, diplomatic push and targeted promotion ensured stellar FY21 for Agri exports

    Stagnant for the past three years, India's agricultural exports saw a major rise in pandemic riddled FY21, even as all other sectors witnessed a dip in forex earnings. This comes two years after the Agriculture Export Policy was announced. The policy tapped into global demand and expanded the farm export basket. Pleasantly surprised policymakers are now hoping to recreate this success story in other sectors

  • Exclusive | Stage set for bigger India-US clash on Google Tax after new G7 tax plan Jun 07, 2021 01:22 PM IST

    Exclusive | Stage set for bigger India-US clash on Google Tax after new G7 tax plan

    Last week, the US deferred by 6 months its move to place the proposed retaliatory tariffs on India, due to New Delhi's insistence on keeping its tax on digital earnings. Further negotiations are now set to become rougher as a global tax proposal by the G7 nations effectively aims to block national level digital taxes.

  • Need 3-year global IPR waiver for COVID vaccines, drugs and health technology, India tells WTO Jun 02, 2021 12:59 PM IST

    Need 3-year global IPR waiver for COVID vaccines, drugs and health technology, India tells WTO

    India’s updated proposal on the global IPR waiver has the support of 62 nations and aims to end the pandemic quickly, but it has been opposed by the European Union, the UK and Australia. It will be next discussed on June 8-9 by the TRIPS council of the WTO.

  • Exclusive | India to submit updated proposal on TRIPS waiver to WTO council by May 30 May 20, 2021 02:24 PM IST

    Exclusive | India to submit updated proposal on TRIPS waiver to WTO council by May 30

    New Delhi is working with South Africa and other nations to quickly submit by month-end a new, updated draft on its proposal to temporarily suspend parts of the global intellectual property rights agreement. But before it can save lives, the waiver proposal needs to see detailed text-based discussions at the earliest, making it tight deadline

  • Govt confident of having overcome severe shortage of shipping containers Apr 30, 2021 01:44 PM IST

    Govt confident of having overcome severe shortage of shipping containers

    The crisis began in late 2020 due to a sharp mismatch in import and export volumes, port congestion across the Asia Pacific region due to Covid-19, and restrictions on trade

  • Current Foreign Trade Policy gets second extension, to run till September 30 Mar 31, 2021 09:50 PM IST

    Current Foreign Trade Policy gets second extension, to run till September 30

    The yet-unfinished work of finalising tax refund rates for exports under the new Remission of Duties and Taxes on Exported Products scheme has derailed the government's plan to unveil a new FTP. The lack of a clear consensus on whether to continue with export incentives for services exporters have also contributed to the latest decision.

  • 'Teething troubles' prevent govt from announcing tax refund rates for RoDTEP scheme, says commerce secretary Mar 22, 2021 06:43 PM IST

    'Teething troubles' prevent govt from announcing tax refund rates for RoDTEP scheme, says commerce secretary

    Exporters complain that lack of clarity on tax refund rates under RoDTEP, 18 months after it was announced, continues to affect their business.

  • EXCLUSIVE | Sectoral action plan for exports currently in the works Mar 17, 2021 03:11 PM IST

    EXCLUSIVE | Sectoral action plan for exports currently in the works

    It will focus on short-term targets and specific strategies to boost the outbound shipment of certain products in the near term. Right now, India’s share of exports continues to remain high in goods which are less traded and low in goods that are traded more in the world.

  • Exclusive | Government feels worst is over for India's exports as non-oil, non-jewellery shipments rise steadily Feb 22, 2021 03:59 PM IST

    Exclusive | Government feels worst is over for India's exports as non-oil, non-jewellery shipments rise steadily

    The Commerce Department has told the Prime Minister's Office that India's exports are safely out of the COVID-19 induced global trade slump, pointing towards exports from categories other than the volatile processed petroleum, gold, diamond and jewellery, according to sources.

  • US retail sales plunged 16% in April as coronavirus froze economy May 15, 2020 06:55 PM IST

    US retail sales plunged 16% in April as coronavirus froze economy

    The sharpest drops from March to April were at clothiers, electronics stores, furniture stores and restaurants. A long-standing migration of consumers toward online purchases is accelerating, with that segment posting a 8.4 percent monthly gain. Measured year over year, online sales surged 21.6 percent.

  • US business investment picking up; goods trade deficit narrows Jul 25, 2019 08:25 PM IST

    US business investment picking up; goods trade deficit narrows

    The Commerce Department said orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, jumped 1.9 percent last month.

  • US fourth-quarter economic growth revised higher, boosted by consumer spending Mar 30, 2017 07:20 PM IST

    US fourth-quarter economic growth revised higher, boosted by consumer spending

    US economic growth slowed less than previously reported in the fourth quarter as robust consumer spending spurred the largest increase in imports in two years.

  • US economy posts slowest growth since 2011 Jan 28, 2017 01:10 PM IST

    US economy posts slowest growth since 2011

    The first estimate of Gross Domestic Product showed growth of 1.9 percent in the September-December period, well below the 3.5 percent pace of the third quarter, and short of the consensus estimate by analysts of 2.2 percent.

  • US first-quarter GDP growth revised up to 1.1 % Jun 28, 2016 08:22 PM IST

    US first-quarter GDP growth revised up to 1.1 %

    Gross domestic product increased at a 1.1 percent annual rate, rather than the 0.8 percent pace reported last month, the Commerce Department said on Tuesday in its third GDP estimate.

  • Weak consumer spending, trade seen hurting US Q1 growth Apr 28, 2016 10:11 AM IST

    Weak consumer spending, trade seen hurting US Q1 growth

    Gross domestic product probably rose at a 0.7 percent annual rate after a 1.4 percent pace in the fourth quarter, according to a Reuters survey, also as businesses stepped up efforts to reduce unwanted merchandise clogging up their warehouses.

  • US Q4 GDP growth revised higher on strong inentory investment Feb 26, 2016 09:43 PM IST

    US Q4 GDP growth revised higher on strong inentory investment

    Gross domestic product increased at a 1.0 percent annual rate instead of the previously reported 0.7 percent pace, the Commerce Department said on Friday in its second GDP estimate.

  • US private payrolls rise; trade deficit narrows Jan 06, 2016 08:08 PM IST

    US private payrolls rise; trade deficit narrows

    Payrolls processor ADP said private-sector employment rose by 257,000 last month, the largest gain since December 2014, after increasing by 211,000 in November

  • US data points to moderate fourth-quarter growth Nov 26, 2015 08:16 AM IST

    US data points to moderate fourth-quarter growth

    Anemic consumer spending did little do change expectations that the Federal Reserve will raise interest rates next month as other data on Wednesday showed a surge in business spending plans in October and a drop in new applications for unemployment benefits last week.

  • US consumer spending slowing, but biz investment to rise Nov 25, 2015 08:38 PM IST

    US consumer spending slowing, but biz investment to rise

    Anemic consumer spending will probably do little do change expectations that the Federal Reserve will raise interest rates next month as other data on Wednesday showed a surge in business spending plans in October and a drop in new applications for unemployment benefits last week.

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