Oct 11, 2021 07:59 PM IST
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.
- Oct 04, 2021 02:31 PM IST
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.
- Sep 29, 2021 03:56 PM IST
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.
- Sep 06, 2021 03:33 PM IST
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.
- Jul 19, 2021 02:19 PM IST
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
- Jun 30, 2021 02:16 PM IST
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.
- Jun 18, 2021 02:28 PM IST
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
- Jun 07, 2021 01:22 PM IST
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.
- Jun 02, 2021 12:59 PM IST
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.
- May 20, 2021 02:24 PM IST
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
- Apr 30, 2021 01:44 PM IST
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
- Mar 31, 2021 09:50 PM IST
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.
- Mar 22, 2021 06:43 PM IST
Exporters complain that lack of clarity on tax refund rates under RoDTEP, 18 months after it was announced, continues to affect their business.
- Mar 17, 2021 03:11 PM IST
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.
- Feb 22, 2021 03:59 PM IST
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.
- May 15, 2020 06:55 PM IST
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.
- Jul 25, 2019 08:25 PM IST
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.
- Mar 30, 2017 07:20 PM IST
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.
- Jan 28, 2017 01:10 PM IST
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.
- Jun 28, 2016 08:22 PM IST
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.
- Apr 28, 2016 10:11 AM IST
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.
- Feb 26, 2016 09:43 PM IST
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.
- Jan 06, 2016 08:08 PM IST
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
- Nov 26, 2015 08:16 AM IST
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.
- Nov 25, 2015 08:38 PM IST
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.