Indian coffee exports in the 2024 calendar year saw a 45 per cent jump in dollar value terms at over $1.684 billion, a record high on increased demand from buyers in Europe such as Italy and Germany. In 2023, coffee exports were $1.160 billion.

 

Under the 'Mission Bee' programme in Gujarat, 284 milk producers associated with Amul Dairy have produced about 16000 kilograms of honey, stated an official release from the state government, Saturday.

 

India and the Maldives have finalised a framework to promote the use of local currencies for cross-border trade, marking a significant development in bilateral economic cooperation. External Affairs Minister S. Jaishankar, during his meeting with Maldivian Foreign Minister Abdulla Khaleel in New Delhi, reiterated India's unwavering commitment to the island nation, describing it as a vital part of India’s 'Neighbourhood First' policy.

 

The Open Network for Digital Commerce (ONDC) is a transformative initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Government of India aimed at democratizing digital commerce. Launched in April 2022, ONDC is an initiative aiming at promoting open networks for all aspects of exchange of goods and services over digital or electronic networks. ONDC is based on open-sourced methodology, using open specifications and open network protocols independent of any specific platform. 

 

India and Iran on Friday carried out a comprehensive review of their ties including the joint development of the Chabahar port, ways to boost trade and economic engagement and possible cooperation in agriculture and some other sectors. At the 19th India-Iran Foreign Office Consultations held in Delhi, the Iranian side is learnt to have requested New Delhi to explore ways to resume procurement of Iranian crude oil.

 

Senior officials from the commerce ministry, and commercial wings of Indian Missions of 20 countries will hold a three-day meet, beginning here on Monday, to discuss ways to promote exports of goods and services, an official said. Commerce and Industry Minister Piyush Goyal will also interact with these commercial representatives on January 6.

 

The implementation process of free trade agreement (FTA) between India and the four-nation European bloc EFTA is progressing fast and is expected to come into force before the end of this year, Commerce and Industry Minister Piyush Goyal said. The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024. Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties.

 

The government on Thursday said no person has any legal right to seek reasons for their suggestions, views, or feedback not being included in the Foreign Trade Policy (FTP). The Directorate General of Foreign Trade (DGFT) in a notification also said that the government may seek views of the industry stakeholders for the FTP but it reserves the right to suo moto formulate, amend or incorporate any specific provisions in the policy, without seeking views, suggestions, comments, or feedback from stakeholders.

 

India will export 1 million tonne of non-basmati white rice to Indonesia annually for four years, as inventories in the world’s biggest exporter of the grain surged following a series of earlier restrictions on overseas shipments and a robust harvest, an official said.