The Indian government has agreed to cut customs duties on 82.7 per cent of its tariff lines, covering 95.3 per cent of European Free Trade Association (EFTA) exports.
Exports from Madhya Pradesh in the financial year 2023-24 edged down down 0.95 per cent to Rs 65,255 crore due to export restrictions on rice, wheat and onion to curb domestic inflation though pharmaceutical products and soya recorded double digit growth from the last year.
A group of WTO member countries, including Brazil, Canada and the European Union, have urged India to submit timely notifications on sugar subsidies in the World Trade Organisation, an official said. The issue came up for discussion during the meeting of the WTO's agriculture committee on May 23-24 in Geneva.
India has exported more than 45,000 tonnes of onion since the ban on outbound shipments was lifted early this month, a top government official said on Wednesday. These exports provided relief to farmers after curbs were imposed to keep domestic supplies steady ahead of general elections.
India’s closest partner in SE Asia -- Singapore and Central Asia’s biggest state Kazakhstan are the leading transit hubs in their regions. This is one of the reasons why the two countries are establishing close economic ties that can stimulate growth and find new business opportunities. This will also boost India’s role as a link country between SE Asia and Eurasia as well as the Chabahar Port where India has gained management rights for 10 years.
The Maldives on Wednesday said both India and China have agreed to cooperate in efforts to pay for imports in their respective countries' currency instead of the US dollar, which is likely to help Male save almost 50 per cent of the annual USD 1.5 million imports bill from the two countries. Maldives' Economic Development Minister Mohamed Saeed said he met with the Indian High Commissioner Munu Mahawar two weeks ago, who in turn, said that New Delhi would support and cooperate in arranging for the settlement of import payments in Indian Rupee.
