Commerce Secretary Rita Teaotia said the sanctions on Iran were in place for long number of years and there was a partial lifting by the then Obama-administration.
Commerce Secretary Rita Teaotia said that the sector holds enormous opportunities to boost economic growth of the country and these measures would also help cut transaction costs and time of traders.
Exports from this sector have grown by about 22 per cent to USD 62 billion during the April-January period of 2017-18.
"There are implications on both sides and I think we will have to work to come to some sort of balance on the duty issue. It certainly needs to be addressed because as long as there is arbitrage there will be people who will try to game the system," Teaotia said.
Over 70 countries and 600 buyers from Africa, the Middle-East, Europe, the US, the UK, and Asia are set to take part in the event. The summit is meant to promote India as a premier global healthcare destination and streamline healthcare services export.
The European Commission has brought down the maximum residue limit (MRL) level for fungicide Tricyclazole in basmati rice to 0.01 mg per kg from next year.
Responding to a query by The Straits Times, the ministry said it had not received official notification from India that the review of the pact, officially dubbed the Comprehensive Economic Cooperation Agreement (CECA), had been put on hold.
The Commerce and Industry Ministry today said it is working on a new initiative - Trade Infrastructure for Export Scheme (TIES) which aims at funding export infrastructure in states.
The decision was taken by the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, at its November 9 meeting, an official said.
"The cancellation, however, is subject to the development commissioner furnishing a certificate that the developer has not availed any tax or duty benefits including under service tax exemptions, if any, under SEZ Act/Rules," the official added.
Teaotia said India is growing at a healthy rate and the government is taking several steps to improve business climate, trade facilitation, logistics and taxation structures.
Citing a study, Commerce Secretary Rita Teaotia said if India and the UK enter into an FTA, the latter would benefit more but "the effort will certainly be to identify those sectors and those areas in which we have a strong competitive advantage".
The matter will be considered by the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, on November 3.
These applications will be considered at the meeting of the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, on November 3.
An agreement on the expansion of India-Chile preferential trade agreement (PTA) was signed between the countries in a meeting held between Commerce Secretary Rita Teaotia and Andres Barbe Gonzalez, Ambassador, Embassy of Chile today.
The decision regarding this was taken by the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, at its meeting on August 12.
The decision regarding this was taken in a meeting of the Board of Approval (BoA) on August 12, which was chaired by Commerce Secretary Rita Teaotia.
"Exemptions and incentives will go away once the Goods and Services Tax (GST) is implemented. GST and exemptions do not go hand-in-hand," Teaotia said at a session organised by EEPC, FIEO and GJEPC here.
These applications would be considered by the Board of Approval (BoA) headed by Commerce Secretary Rita Teaotia on August 12.
All these requests will be considered by the Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia on August 12.
India's exports, which were on a decline for close to one-and-a-half years, have started picking up slowly in the past two months, Commerce Secretary Rita Teaotia said today.
Although a few sectors such as pharmaceuticals have set up high standards for themselves, other sectors have yet to follow suit, Sitharaman said.
"The country's pharmaceutical exports is one of the good stories of Indian exports. We have registered 9.7 percent jump and 33 percent growth in exports to US market. We see lot of growth potential of pharma exports in coming years," Teaotia told PTI after inaugurating 'iPHEX 2016' conference here.
An inter-ministerial Board of Approval (BoA), chaired by the Commerce Secretary Rita Teaotia, will consider the request from Posco's subsidiary Posco India Pvt Ltd on April 28, the Commerce Ministry said.