India negotiating FTAs with UK, EU, Oman, reviewing CEPA and AITIGA.
India is currently negotiating Free Trade Agreements (FTAs) with the United Kingdom, the European Union, Oman, Australia (comprehensive agreement building on India-Australia Economic Co-operation and Trade Agreement), Peru and Sri Lanka. Moreover, India has also initiated review of its existing FTAs, namely India-South Korea Comprehensive Economic Partnership Agreement (CEPA) and ASEAN-India Trade in Goods Agreement (AITIGA).
Source: fnbnews.com
European Commission set to visit India to discuss trade with PM Modi.
A full delegation of the European Commission will be in India for two days (February 27-28) to hold a plenary session with Prime Minister Narendra Modi to discuss trade, economic security and resilient supply chains. The second meeting of the EU-India Trade and Technology Council (TTC) will be held during this visit, with discussions covering clean technologies, digital infrastructure and the compatibility of trade systems.
Source: tribuneindia.com
India has no plans to import wheat for now - Piyush Goyal.
India does not plan to import wheat and its farmers are likely to harvest a bumper crop that will boost stockpiles in the world's second-biggest producer of the staple, the trade minister said on Saturday. 'Ground reports indicate that the crop is quite good and this year's production is expected at a record 114 million metric tons,' Piyush Goyal told reporters.
Source: thehindubusinessline.com
Jharkhand: Grow more chilli crops, Agri min tells farmers.
Agriculture, animal husbandry and co-operative minister Shilpi Neha Tirkey on Thursday said commercialisation of agricultural products has been an essential element for farmers to gain more profits. She particularly described chilli cultivation as a profitable business and encouraged the state farmers to pursue its commercial production.
Source: timesofindia.indiatimes.com
Centre revises Wheat Stock Limit until 31st March, 2025.
Government of India keeps a close watch on the prices of wheat and takes suitable appropriate interventions to ensure price stability for the consumers in the country. A total production of 1132 LMT of wheat was recorded during Rabi 2024 and there is ample availability of wheat in the country. In order to manage the overall food security and to prevent hoarding and unscrupulous speculation, the Government of India imposed stock limits on Wheat applicable to Traders/Wholesalers, Retailers, Big Chain Retailers and Processors in all States and Union Territories. The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2024 was issued on 24 June 2024 and revised on 09 September 2024 & on 11 December 2024 and was applicable for all States and Union Territories.
Source: pib.gov.in
GDP likely grew by a median 6.3% in Q3, slightly higher than RBI’s 6.2% estimate.
The Indian economy likely picked up pace in the December quarter, fuelled by strong agricultural output, a revival in rural demand, and higher capital expenditure, according to an ET poll of economists. A median forecast of 10 economists pegged gross domestic product (GDP) growth at 6.3% in the third quarter from the year ago, with estimates ranging from 5.8% to 6.5%. In the preceding quarter, GDP growth slowed to a seven-quarter low of 5.4%.
Source: economictimes.indiatimes.com
US delegation in India for Agri Talks.
A high-level delegation from Pegasus Capital Advisors, led by industry leaders in climate, sustainability and agriculture, will visit India, from February 19 to 22, to engage in discussions and field visits aimed at advancing environmental and economic sustainability projects, including strengthening APCNF (Andhra Pradesh Community Managed Natural Farming), a flagship project of the government of Andhra Pradesh.
Source: deccanchronicle.com
India US Trade Pact: Ministry-level talks likely to take place soon.
India has begun preparations for the first tranche of its bilateral trade agreement (BTA) talks with the US, officials said. The commerce and industry ministry has initiated consultations with concerned ministries and departments on the proposed deal, to understand sector-specific offensive asks or areas of India's interest.
Source: economictimes.indiatimes.com
FTA Negotiations To Resume India-EU March 10, India-UK Feb 25.
India and the European Union have scheduled their next round of free trade agreement (FTA) negotiations for March 10-14, according to a senior Indian government official. Additional Secretary in the Department of Commerce L Satya Srinivas announced on Monday that the European Commission delegation will arrive in India on February 28, ahead of the formal talks.
Source: menafn.com
Bangladesh to buy 50,000 tonnes of rice from India.
The Advisory Council on Government Procurement has approved importing 50,000 tonnes of parboiled, non-Basmati, rice from India. At its meeting on Thursday, the Council endorsed the purchase from Bagadiya Brothers at a price of $ 434.55 per tonne.
Source: bdnews24.com