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Jan 23, 2025 News Image EU and India forge ahead on strategic Partnership with focus on trade, investment and sustainability.
Building on the relaunch of negotiations in 2022 for a Free Trade Agreement (FTA), the partnership reflects mutual ambitions to enhance economic ties and address shared global challenges. The EU-India trade relationship is already significant, with the EU ranking as India’s third-largest trading partner, accounting for €88 billion in goods trade in 2021 (10.8% of India’s total trade). Meanwhile, India is the EU’s 10th-largest trading partner, making up 2.1% of the bloc’s goods trade. Trade in services between the two reached €30.4 billion in 2020, further highlighting the depth of the economic relationship.
 Source:  eutoday.net
Jan 23, 2025 News Image ISMA welcomes Govt approval for sugar exports.
The Indian Sugar & Bio-Energy Manufacturers Association (ISMA), welcomes Government of India decision to approve the export of one million metric tonnes of sugar this season and extends its sincere gratitude to Prime Minister Narendra Modi, Home Minister Amit Shah, Union Minister of Consumer Affairs, Food & Public Distribution Pralhad Joshi, and Minister of Road Transport & Highways Nitin Gadkari for their visionary leadership and consistent support for the sector.
 Source:  fnbnews.com
Jan 23, 2025 News Image Commerce Minister Piyush Goyal sets a target of 10000 GI tags by 2030;committee to be formed to oversee implementation.
Union Minister of Commerce & Industry, Shri Piyush Goyal set a target of reaching 10,000 Geographical Indication (GI) Tags by 2030, at the GI Samagam today in New Delhi, organized by the Department for Promotion of Industry and Internal Trade (DPIIT) and India Today Group. This target will be achieved through a whole of government approach, and the government will constitute a committee to oversee this, added the Minister. The number of GI tags issued by the department till date stands at 605.
 Source:  pib.gov.in
Jan 23, 2025 News Image India examining US trade memo; directive on bilateral trade deal positive: Sources.
India is examining the Trump's memorandum - America First Trade Policy - to assess its impact on the bilateral trade with the US, which is its largest trading partner, sources said on Wednesday. They also said that the White House directive to the United States Trade Representative (USTR) to identify countries with which the US can negotiate agreements on a bilateral or sector-specific basis is a positive development for countries like India.
 Source:  economictimes.indiatimes.com
Jan 23, 2025 News Image India's rice exports defy restrictions, hold steady in 2024.
India's rice exports held steady in 2024 despite New Delhi's export curbs, as record high premium basmati rice shipments offset a decline in overseas sales of non-basmati rice, government and industry officials told Reuters. A steady flow of rice from the world's biggest exporter should help bring down global rice prices and assist New Delhi in reducing stockpiles that have surged to a record high due to a bumper crop.
 Source:  economictimes.indiatimes.com
Jan 22, 2025 News Image Centre extends duty free imports of tur till March 2026.
The Centre on Tuesday extended duty free imports of tur or arhar by a year till March 2026 to temper retail food prices that are still ruling above the government’s comfort levels. The existing import policy was first introduced in May 2021 and extended several times till March 2025 amid faltering domestic production due to El Niño weather pattern. Government stocks also got exhausted for ensuring food security during the pandemic.
 Source:  economictimes.indiatimes.com
Jan 22, 2025 News Image Karnataka hosts the sixth edition of the International Millets Festival in Bengaluru.
Karnataka is organising the sixth edition of the international millets festival in Bengaluru from January 23. Over 300 processors and manufacturers of millet-based products, farmer producer organisations will be displaying their products during the three day event, state Agriculture Minister N Cheluvarayaswamy said Monday.
 Source:  thehindubusinessline.com
Jan 22, 2025 News Image Commerce and Industry Minister Shri Piyush Goyal holds bilateral talks with Belgian Foreign Affairs and Foreign Trade Minister, interacts with industry leaders.
The Commerce and Industry Minister of India, Shri Piyush Goyal, met with the Belgian Minister of Foreign Affairs, European Affairs, and Foreign Trade, Mr. Bernard Quintin, in Brussels today to discuss strengthening bilateral trade and investment ties. The meeting reinforced the longstanding relationship between India and Belgium, built on shared values of democracy, rule of law and independent judiciary. The two leaders discussed ways to expand economic cooperation, and explored new avenues to advance this partnership. It may be noted that India-Belgium trade is estimated at over US$ 15.07 billion in 2023-2024 while Foreign Direct Investments from Belgium into India was estimated at over US$ 3.94 billion.
 Source:  pib.gov.in
Jan 22, 2025 News Image Piyush Goyal To Visit Brussels To Discuss India-EU FTA, Boost Trade Ties.
In a bid to further boost trade and investment ties with the European Union (EU), Union Minister of Commerce and Industry Piyush Goyal is slated to visit Brussels, Belgium for a high-level dialogue. The dialogue with Maros Sefcovic, Commissioner of the European Commission for Trade and Economic Security, will have wide-ranging discussions on the India-EU Free Trade Agreement (FTA) negotiations, the Trade and Technology Council framework and bilateral trade matters, according to Ministry of Commerce and Industry.
 Source:  ddnews.gov.in
Jan 22, 2025 News Image India seeks fair and equitable trade agenda in EU FTA discussions.
While stating its intent to work on a 'meaningful trade agenda' with the European Union, India has underlined the need for it to be 'fair and equitable' and made it clear that there was a need to address tariff and non-tariff barriers. During his first meeting with Maroš Šefovi, the European commissioner for trade and economic security in Brussels over the weekend, Union commerce and industry minister Piyush Goyal also asserted that the cooperation on trade and sustainable development should factor in the respective level of developments of the two trading partners and 'the principle of common but differentiated responsibility' should be followed that does not put additional burden on a developing country like India.
 Source:  timesofindia.indiatimes.com