In the two years since March 2023, an International Monetary Fund price index for beverages, comprising cocoa, coffee and tea, has risen 122%. By comparison, the IMF’s food price index has declined 12%. Cocoa and coffee have been the drivers of inflation in the beverages space, with key producer countries facing supply shortages, and there…
New Delhi: The federal policy think tank Niti Aayog on Tuesday laid down a road map to increase India’s exports of hand and power tools to over $25 billion by 2035 from $1 billion in 2025. The plan proposed by Niti Aayog and the Foundation for Economic Development (FED) involves creating manufacturing clusters for such…
The loudly trumpeted aim of US President Donald Trump is to revive America’s economic mojo. That balanced foreign trade was not all rhetoric but a real part of his agenda hit home only on 2 April, when the US erected a tariff regime that left other countries aghast and economists agape. What dropped jaws wasn’t…
India exports a variety of agricultural products to the US, including frozen shrimp, prawns, basmati and non-basmati rice, vegetable saps and extracts, natural honey and processed food items. Meanwhile, key US agricultural exports to India include almonds, cotton, denatured ethyl alcohol, crude soybean oil and pistachios (ITC Trademap). Also Read: Ajit Ranade: India must formulate…
Although these are early days in the negotiations for a multi-sectoral bilateral trade agreement (BTA) between India and the US, the final outcome is already being envisaged as the ‘mother of all deals’ and a ‘grand trade deal.’ Both countries are expected to negotiate hard for finalizing an agreement that maximizes benefits for their respective…
New Delhi: India and the US plan to negotiate a mutually beneficial multi-sector Bilateral Trade Agreement (BTA) aimed at increasing market access, reducing tariff and non-tariff barriers, and enhancing supply chain integration, minister of state for commerce Jitin Prasada told the Lok Sabha on Tuesday. The initiative is part of efforts to strengthen economic ties…
To be sure, progress on India’s FTA with the European Union has not been insubstantial. Both sides have committed themselves to signing it by the end of this calendar year. When it happens, it will be the world’s largest deal of its kind. A trade pact between both sides will not just strengthen our trade…
Further, there is the possibility of even more drastic measures like “reciprocal tariffs” (with the possible inclusion of foreign value added taxes) and duties on US imports of critical minerals, apart from universal tariffs on all imports. Also Read: Think win-win: India should try some mineral diplomacy in its relations with the US We are…
New Delhi: The government body charged with setting quality standards for drugs has launched a review of the safety and efficacy norms for 13 commonly used but “very old” drugs and asked pharmaceutical companies to submit their manufacturing licence approval letters. The Indian Pharmacopoeia Commission (IPC), part of the Drugs Controller General of India, said…
The government is proactive in safeguarding the interests of Indian exporters amid global trade challenges, according to Jitin Prasada, Union minister of state for commerce & industry. The government is strategizing to address potential hurdles arising from protectionist trade policies of other countries, Prasada said speaking at an event organised by the Engineering Export Promotion…
