India has filed an appeal with the European Court of Justice following the European Union's refusal to grant access to the Annexures accompanying Pakistan's application for Protected Geographical Indication (PGI) status, The News reported citing an Indian news outlet.
Food safety regulator FSSAI has ordered licensed food manufacturers and importers to submit quarterly data on rejected and expired food items through its online compliance system FOSCOS to prevent their resale for human consumption.
The ECGC is aiming to reduce the export credit gap through the WT-ECIB scheme, which is expected to benefit about 1,000 new small exporters, in addition to the existing 8,000-odd by facilitating the availability of adequate and affordable export finance from banks for working capital, an official statement said.
India’s exports of agricultural and processed food products rose by over 8% to $14.01 billion during the April-November periods of the current fiscal year compared to FY24 after the government removed most of the restrictions on rice shipment a couple of months back.
India is enhancing trade through FTA agreements and leveraging them to ensure certainty in market access, non-discriminatory treatment and a transparent and objective regulatory environment for services exports.
India and the European Free Trade Association (EFTA) signed the Trade and Economic Partnership Agreement (TEPA) on 10th March 2024. EFTA countries comprise of Switzerland, Iceland, Norway & Liechtenstein. The TEPA is under the ratification process in the national parliament or legislature of each EFTA country. TEPA marks India's first FTA with an important economic bloc in Europe. Under TEPA, EFTA has committed to promote foreign direct investments by USD 100 billion in India in the next 15 years, and to facilitate the generation of 1 million direct employment in India, through such investments. TEPA is expected to give impetus to "Make in India" and Atmanirbhar Bharat by encouraging domestic manufacturing.
The area under oilseeds and pulses is lower but wheat coverage is higher during the current rabi season. As of December 20, 93 per cent of the normal area has been covered with farmers bringing 32 lakh hectares (lh) under cultivation last week.
The recent statements by President-elect Donald Trump about imposing higher tariffs on imports from Mexico and Canada cast a shadow over two important aspects of global trade — friend-shoring and the United States-Mexico-Canada Agreement (USMCA).
