South Australia Eyes Stronger Trade Links with Maharashtra Amid Growing Economic Ties with India.
South Australia's minister for trade and investment, Joe Szakacs, said that Mumbai and Maharashtra are key checkpoints for South Australia's trade and investment foray into India. Szakacs responded to a question on Maharashtra's goal to be a $1 trillion economy by 2032. He encouraged Indian businesses and state govts to seek support from Australian states like South Australia to boost trade and business. Szakacs spoke at the launch of a ‘case study on the India-Australia Economic Cooperation and Trade Agreement (ECTA)' published by Gateway House: Indian Council on Global Relations. The case study stated that Australia's $1.5 trillion pension fund sector can be a potential steady source of investments for India's infrastructure and disinvestments.
Source: timesofindia.indiatimes.com
Jaishankar highlights $160 billion trade ties with Gulf at Raisina Middle East.
External Affairs Minister S Jaishankar on Tuesday underlined the strategic importance of India's ties with the Middle East, particularly the Gulf region, during the inaugural session of Raisina Middle East in Abu Dhabi. He highlighted the historical linkages between India and the region and spoke about the annual trade with the Gulf surpassing USD 160 billion, alongside wide-ranging collaborations in energy, technology, infrastructure, and education. India's engagement extends beyond the Gulf to the Mediterranean, with trade reaching USD 80 billion annually.
Source: tribuneindia.com
British trade minister to visit India to negotiate trade deal.
Britain's Business and Trade Secretary Jonathan Reynolds will soon visit India to restart talks on a trade deal, finance minister Rachel Reeves said on Wednesday.
Source: reuters.com
India, Oman agree to speed up talks on signing bilateral economic pact.
India and Oman have agreed to expedite the discussions for an early signing of the bilateral Comprehensive Economic Partnership Agreement (CEPA), which is under advanced stages of negotiations, according to a statement issued by the Ministry of Commerce and Industry on Tuesday. Commerce and Industry Minister Piyush Goyal concluded a successful visit to Oman from January 27-28. CEPA will be a new milestone in bilateral trade relations and has the potential to significantly scale up two-way trade and investments, the statement said.
Source: retail.economictimes.indiatimes.com
Govt upgrades platform to issue certificates of origin.
To simplify the certification process for exporters and enhance trade efficiency, the government Monday said it has upgraded its system of issuing electronically generated certificate of origin to help exporters. The document is important to claim duty concessions under free trade agreements as it proves where the goods originate.
Source: economictimes.indiatimes.com
India, Oman decide to expedite trade pact talks, ink protocol to amend tax treaty.
India and Oman have decided to expedite the discussions for an early signing of a bilateral Comprehensive Economic Partnership Agreement (CEPA), the government said Tuesday. The two sides have also signed the Protocol to amend the India-Oman Double Taxation Avoidance Agreement (DTAA), aligning it with international standards on cross-border taxation during commerce and industry minister Piyush Goyal’s visit to Oman this week.
Source: economictimes.indiatimes.com
Govt to import rice, fertiliser, diesel.
The government will import rice, fertiliser and diesel and procure sugar and lentil from local suppliers to meet the domestic demands. Advisors’ Council Committee on Government Purchase (ACCGP) in a meeting on Tuesday, with Finance Adviser Dr Salehuddin Ahmed in the chair, approved a number of proposals in this regard.
Source: daily-sun.com
US President Trump calls for 'fair' trade ties with 'tariff maker' India.
US President Donald Trump has grouped India alongside China and Brazil as 'tremendous tariff makers', vowing to impose tariffs on countries he claims harm the United States. During a separate telephonic conversation, Trump urged Prime Minister Narendra Modi to boost India’s procurement of American security equipment to foster a 'fair' bilateral trade relationship.
Source: business-standard.com
No export of raw materials, value addition must happen in India: PM Modi.
Prime Minister Narendra Modi on Tuesday said he cannot accept raw materials getting exported and finished products being shipped into the country, asserting that value additions must happen in India. Inaugurating the 'Utkarsh Odisha, Make in Odisha Conclave' in Bhubaneswar's Janata Maidan, Modi said he considers eastern India as the growth engine of the country, and the state plays an important role in it.
Source: business-standard.com
Decline in Rice Production and Rising Prices in Iran Amid Inflation Growth and Public Protests.
The import of rice from March 21 to December 21, 2024, has decreased by approximately 20%, while the Ministry of Agriculture has claimed that with the production of 2.7 million tons of rice this year, the country’s need for imports has reduced.
Source: iranfocus.com