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New Delhi: In a relief to exporters, India has announced a one-time relief measure for units in special economic zones (SEZ), allowing them to sell goods in domestic markets at a lower customs duty for one year, and extended fiscal benefits under the Remission of Duties and Taxes on Exported Products (RoDTEP) by six months, until September 30, amid the conflict in West Asia. The government is working on a broader framework on harmonisation of various export promotion schemes with a key focus on ...Read More >
New Delhi, April 1 (SocialNews.XYZ) More than 3.9 lakh 5 kg FTL (free trade LPG) cylinders have been sold since March 23, and over 65,000 5 kg FTL cylinders were sold yesterday, the government said on Wednesday. Supply of LPG continues to be affected due to the prevailing geopolitical situation, but there has been no increase in price for domestic LPG consumers, said the government during the inter-ministerial briefing. "No dry-out has been reported at LPG distributorships. Online LPG bookings ...Read More >
New Delhi [India], April 1 (ANI): The government's decision to allow Special Economic Zones (SEZs) units to sell in the domestic market has triggered concern among local manufacturers, who fear cheaper SEZ goods could undercut them at home. Finance Ministry sources, however, told ANI that the relief measure comes with a robust three-pillar safeguard framework -- designed specifically to ensure the domestic industry is not disadvantaged. SEZ units already enjoy significant structural advantages ...Read More >
New Delhi [India], March 31 (ANI): Odisha Chief Minister Mohan Majhi held a virtual meeting with District Collectors on Monday to ensure an uninterrupted supply of essential commodities amid the West Asia conflict. The Chief Minister directed enforcement squads to remain on 24x7 action mode, monitor markets, act against hoarders and rumour-mongers, and maintain team spirit for coordinated crisis management, according to the CMO. Earlier in the day, the Union government announced that a 100 per ...Read More >
New Delhi [India], March 30 (ANI): The Union government on Monday announced that 100 per cent supply of natural gas is being maintained for domestic consumers and CNG transport, noting that approximately 95 per cent of LPG bookings were done online yesterday. Speaking at a joint inter-ministerial briefing, Sujata Sharma, Joint Secretary (Marketing and Oil Refinery) at the Ministry of Petroleum and Natural Gas, stated that the country possesses sufficient fuel reserves to meet current demand. A ...Read More >
New Delhi [India], March 30 (ANI): The Union government on Monday announced that 100 per cent supply of natural gas is being maintained for domestic consumers and CNG transport, noting that approximately 95 per cent of LPG bookings were done online yesterday. Speaking at a joint inter-ministerial briefing, Sujata Sharma, Joint Secretary (Marketing and Oil Refinery) at the Ministry of Petroleum and Natural Gas, stated that the country possesses sufficient fuel reserves to meet current demand. " ...Read More >
Jorhat: The Tea Association of India (TAI) has urged the Assam government to address critical concerns related to land, wages, and imports before proceeding with key policy decisions impacting the tea sector, cautioning that unresolved issues could affect the industry's long-term sustainability. Addressing the 37th Biennial General Meeting of TAI's Assam Branch in Jorhat, the Association's president, Shailja Mehta, said the proposed land patta distribution to tea garden workers, though well-int ...Read More >
The European Union and India are set to announce a landmark trade deal after nearly two decades of on-off talks, as both sides aim to deepen ties amid tensions with the US. India's Commerce Secretary Rajesh Agarwal said on Monday that negotiations had been wrapped up and the deal finalised. European Commission President Ursula von der Leyen and European Council President António Luís Santos da Costa are in Delhi, where the announcement is expected. Both India and the EU are seeking to streng ...Read More >
New Delhi: India and the European Union announced Tuesday the "mother of all deals", a huge trade pact to create a market of two billion people, reached after two decades of negotiations. EU chiefs and Prime Minister Narendra Modi hope the pact will help shield against challenges from the world's two leading economies, the United States and China. The agreement will cut or eliminate tariffs on almost 97 percent of European exports, saving up to 4 billion euros ($4.75 billion) annually in dutie ...Read More >
Panjim (Goa) [India], January 27 (ANI): Canada's Minister of Energy and Natural Resources Tim Hodgson has said there are many opportunities for India and Canada to work together. "It was a very good meeting, and we have lots of opportunities for India and Canada to work together," he told ANI on the sidelines of the India Energy Week conference. Also Read | Is Salman Khan Joining AIMIM? Fact Check Reveals Viral Video Is AI-Generated. In his speech earlier, Hodgson said that Canada is a great ...Read More >
ADDIS ABABA, Ethiopia (AP) India's prime minister on Wednesday called for a strategic relationship with Ethiopia during his first visit to the country, one of Africa's most populous. The South is writing its own destiny, and India and Ethiopia share a vision on this," Prime Minister Narendra Modi told parliamentarians in a special address. "Our vision is that of a world where the countries of the South do not rise against anyone, but for everyone; a world where development is equitable, where ...Read More >
Muscat - Indian business leaders and representatives of industry chambers have underlined the growing depth of India-Oman economic relations and pointed to significant growth opportunities across multiple sectors as Prime Minister Narendra Modi visits Oman on December 17-18. In a report published by ANI, Naveen Jindal, Chairman of Jindal Steel, said the Prime Minister Modi's visit has generated widespread enthusiasm in the sultanate. "This is a very big moment that India's Prime Minister, Nare ...Read More >
ADDIS ABABA, Ethiopia (AP) - The Indian prime minister called for a strategic relationship with Ethiopia Wednesday during his first visit to the country, one of Africa's most populous. "The Global South is writing its own destiny, and India and Ethiopia share a vision for it," Prime Minister Narendra Modi told parliamentarians during a special address. "Our vision is of a world where the Global South rises not against anyone, but for everyone; a world where development is fair, where technolog ...Read More >
New Delhi, Dec 5 (SocialNews.XYZ) Thanking Prime Minister Narendra Modi for the warm and cordial welcome extended to the visiting delegation, Russian President Vladimir Putin on Friday stated that he has established a "close working and personal contact" with the Indian PM and together they "constantly monitor" the development of Russian-Indian cooperation in all its strategic areas. "The talks we just concluded with our Indian colleagues, as well as our conversation last night with Mr. Modi in ...Read More >
NEW DELHI (AP) -- Russian President Vladimir Putin held talks with Indian Prime Minister Narendra Modi on Friday at an annual summit and agreed to diversify mutual economic ties, as the United States presses India to revise its decades-old partnership with Russia. The 23rd Russia-India Summit comes at a pivotal moment as the U.S. pushes for a Ukraine peace deal while seeking global cooperation. It will test New Delhi's efforts to balance relations with Moscow and Washington as the nearly four-y ...Read More >
NEW DELHI (AP) -- Russian President Vladimir Putin held talks with Indian Prime Minister Narendra Modi on Friday at an annual summit and agreed to diversify mutual economic ties, as the United States presses India to revise its decades-old partnership with Russia. The 23rd Russia-India Summit comes at a pivotal moment as the U.S. pushes for a Ukraine peace deal while seeking global cooperation. It will test New Delhi's efforts to balance relations with Moscow and Washington as the nearly four-y ...Read More >
NEW DELHI, Oct 26: Prime Minister Narendra Modi, addressing the 22nd ASEAN-India Summit in Kuala Lumpur, emphasised the urgent need for a unified global response to combat terrorism. He highlighted that terrorism remains a significant threat to peace and security, affecting nations across the world. In a virtual address, PM Modi underscored the importance of collective action and international cooperation in addressing the root causes of terrorism. He called for strengthened mechanisms to preve ...Read More >
New Delhi: As ties rebound, Canadian Prime Minister Mark Carney could visit India for the AI summit and talks with Prime Minister Narendra Modi in February. The trip could push comprehensive economic and free trade partnership for which negotiations were suspended during the Justin Trudeau era. It has been learnt that Carney has been invited for the AI summit and he could also meet Modi for bilateral talks. India's high commissioner Dinesh Patnaik told Canada's leading English daily 'The Globe ...Read More >
Indian rupee (left) and US dollar currency notes are held by a foreign exchange employee. File/AFP India will not accept limits on its trading choices or rush to sign agreements, Trade Minister Piyush Goyal said on Friday, even as a senior government official said a bilateral trade deal with Washington was "very near." "India will not sign any trade deal in a hurry," Goyal said during a speech at the Berlin Global Dialogue, referring to European Union and the US concerns over India's continued ...Read More >
NEW DELHI: After the recent visit by Canadian foreign minister Anita Anand, which saw the announcement of a number of initiatives to upgrade the Canada-India relationship, both countries remain in touch about more high-level engagements in the next few months.These include a possible meeting between PM Narendra Modi and his counterpart Mark Carney next month on the margins of G20 summit in South Africa and a visit by the latter to India early next year.Both leaders are expected to attend the G20 ...Read More >
New Delhi [India], October 23 (ANI): India has invited Canadian Prime Minister Mark Carney to New Delhi for talks with Prime Minister Modi early next year, a move that could pave the way for a comprehensive economic and free-trade partnership, The Globe and Mail Canada reported. Dinesh Kumar Patnaik, India's new High Commissioner to Canada, told The Globe and Mail that both countries are making a "sincere effort" to repair strained diplomatic relations and focus on trade and investment amid ong ...Read More >
New Delhi: India on Wednesday called on developing and least developed nations to collectively work to address global trade challenges such as tariff barriers, unilateral environmental restrictions and hurdles in the services sector. Commerce and industry minister Piyush Goyal stated that areas may include critical minerals access, fertilizers and supply chain management. India bridges the technological divide via digital public infrastructure which empowers millions, he said. "It is time for ...Read More >
OTTAWA -- India's new envoy to Canada says Ottawa should pivot away from pursuing a scaled-down trade deal and instead reach for a comprehensive trade and investment agreement with the world's most populous country. In a wide-ranging interview with The Canadian Press, Indian High Commissioner Dinesh Patnaik also said Canadian businesses should expand trade and investment ties with India now, without waiting for governments to sign a formal trade agreement. "We are more interested in a comprehe ...Read More >
Visakhapatnam: Seafood exports to the European Union have increased by 20 per cent -- and exporters are widening their markets to offset the higher US tariff impact on exports from India. EU-bound exports reached 215,080 metric tonnes worth Rs 9,430 crore (US$ 1,125.6 million), led by shrimp, cuttlefish and squid in frozen form. Significantly, the EU has listed 102 new Indian fishery establishments for export from this country to European member countries. "Following the 50 per cent hike by th ...Read More >
India must fire on all cylinders -- focusing on domestic demand, reforms, investment, innovation, and trade integration -- to sustain high growth India must fire on all cylinders -- focusing on domestic demand, reforms, investment, innovation, and trade integration -- to sustain high growth and meet its long-term development goals, Krishna Srinivasan, Director of the Asia and Pacific Department (APD) at the International Monetary Fund (IMF), said on Thursday. Responding to a question on India' ...Read More >
NEW DELHI, Oct 14 (Reuters) - India will resume all postal services to the United States from Wednesday after putting in place systems to collect duties upfront, the Department of Posts said, ending a nearly two-month suspension triggered by new U.S. import regulations. Postal shipments to the United States were halted in August after the U.S. administration issued an executive order suspending the "de minimis" exemption that had allowed low-value commercial shipments to enter the country witho ...Read More >
Martin Saladin, Head of Promotion Activities Directorate at State Secretariat for Economic Affairs Martin Saladin, Head of the Promotion Activities Directorate at the State Secretariat for Economic Affairs, SECO, the Swiss government, on Wednesday said that Switzerland is shifting its focus towards India as a strategic economic partner amid the US trade tariffs. On US tariffs, Saladin said, "This is a concern. Obviously, Switzerland has also very high tariffs at the moment with 39 per cent. Th ...Read More >
But he said there were no plans to open up more visa routes to Indian workers or students. "The issue is not about visas," Sir Keir said. "It's about business to business engagement and investment and jobs and prosperity coming into the United Kingdom." The UK's trade deal with India was signed in July after years of negotiation. It will mean UK cars and whisky will be cheaper to export to India, and Indian textiles and jewellery cheaper to export to the UK as part of the multi-billion pound ...Read More >
Mumbai (Maharashtra) [India], October 9 (ANI): Prime Minister Narendra Modi on Thursday expressed confidence that India and the United Kingdom will double bilateral trade from the existing approximately USD 56 billion before the mutually set target of 2030. Addressing the India-UK CEO Forum, PM Modi said the Comprehensive Economic and Trade Agreement (CETA) between the two countries is not just a trade agreement, but a roadmap for shared progress and shared prosperity between the world's two la ...Read More >
New Delhi, Oct 9 (PTI) Prime Minister Narendra Modi on Thursday said the India-UK free trade pact will boost MSMEs and create jobs, and exuded confidence that the target of doubling bilateral trade will be achieved ahead of the target date of 2030. Addressing a CEO forum along with British Prime Minister Keir Starmer, Modi said the Comprehensive Economic and Trade Agreement (CETA) between India and the UK will provide stability at a time when the world is witnessing instability. "Today, India- ...Read More >
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