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Jan 17, 2025 News Image India seeks improved Nigeria trade relations.
The Consul General of India in Lagos, Shri Chandramouli Kumar Kern, announced that efforts will be heightened to enhance the trade relations between India and Nigeria, which are currently valued at $7.89 billion. During an interview with journalists at a free health camp organised by the Indian Pharmaceutical Manufacturers and Importers of Nigeria (IPMIN) in collaboration with the Ilupeju Estate Owners and Residents Association, in Lagos,he emphasised that the conducive business environment created by the Federal Government has facilitated the expansion of Indian companies’ investments in diverse sectors such as pharmaceuticals, power, and construction.
 Source:  thenationonlineng.net
Jan 17, 2025 News Image India-UAE: A Strategic Partnership to Boost Food Trade and Investment.
India’s food sector has experienced exponential growth in recent years, solidifying its position as a crucial driver of the nation’s economic resilience. Indian agricultural and food exports have significantly contributed to this growth, fostering strategic collaborations with various countries and stimulating investment. India’s longstanding bilateral trade relations with the United Arab Emirates (UAE), which intensified following the UAE’s unification in 1971, have led to increased Indian exports and the establishment of diplomatic ties between the two nations.
 Source:  news18.com
Jan 17, 2025 News Image Indian flour mills buy 1.41 lakh tonnes of wheat in FCI’s open market sale this week.
The offtake of wheat in the Government’s open market auction through the Food Corporation of India was 94 per cent this week after the weekly offer was raised by 50 per cent to 1.5 lakh tonnes (lt). However, the top bid prices in 13 States were above Rs.3,000/quintal, an indication that more supplies may be needed to help cool prices before procurement starts from April at minimum support price (MSP) of Rs.2,425/quintal.
 Source:  thehindubusinessline.com
Jan 17, 2025 News Image Exporters project record coffee output for 2024-25 at 3.8 lakh tonnes.
Exporters are projecting a record Indian coffee of 3.8 lakh tonnes for the current 2024-25 crop year starting October for which the harvest is currently going on for both the varieties — arabica and robusta — in the key producing regions. 'We expect the crop to be around 3.8 lakh tonnes (lt) comprising 80,000 tonnes of arabicas and 3 lakh tonnes of robustas,' said Ramesh Rajah, President, Coffee Exporters Association. 'We think the robusta crop is better, while arabica is partially lower,' Rajah said.
 Source:  thehindubusinessline.com
Jan 16, 2025 News Image Rupee depreciation will boost India’s export competitiveness in US, EU: Govt sources.
The depreciation of the rupee should be considered in the context of currency trends across the globe, government sources have noted. They pointed out that the rupee has been appreciating relative to most other currencies, including those of emerging economies.
 Source:  cnbctv18.com
Jan 16, 2025 News Image India, Oman aiming to seal mega trade deal.
India and Oman are looking at sealing a broad trade and investment pact this year that will cut tariffs on each other’s goods and boost the overall trade basket in line with renewed vigour in the relations, especially in the economic sphere. The negotiations for a comprehensive economic partnership agreement (CEPA) gained new momentum after Oman’s Sultan Haitham bin Tarik travelled to India over a year back.
 Source:  tribuneindia.com
Jan 16, 2025 News Image DGFT Updates Schedule II of India’s Export Policy.
The updated 'Schedule-II (Export Policy)' aligns with the Finance Act 2024, which was notified on August 16, 2024. The revised schedule includes the current export policy for all ITC (HS) codes, along with any specific conditions that must be met. Previously, specific policy conditions were only applied to goods with restrictions or special regulations.
 Source:  india-briefing.com
Jan 16, 2025 News Image India doing FTAs only after extensive stakeholder consultations: Piyush Goyal.
Commerce and Industry Minister Piyush Goyal on Tuesday said India is finalising free trade agreements (FTAs) only after extensive consultations with all the concerned stakeholders. He said that unlike in the past, these pacts are now fair, equitable and balanced.
 Source:  economictimes.indiatimes.com
Jan 16, 2025 News Image 15th round of India-UK FTA talks to begin in February.
The negotiations on a free trade agreement (FTA) between India and the UK are expected to resume in early February, after months of pause due to the general election in the UK, a senior official said on Wednesday.
 Source:  financialexpress.com
Jan 16, 2025 News Image Ease of doing business: FSSAI says any changes in labelling regulations will be enforced from July 1 every year.
In a bid to promote ease of doing business, the Food Safety and Standards Authority of India (FSSAI) on Wednesday said that it has decided to enforce any changes or amendments in labelling regulations from July 1 every year. It said this will provide food business operators a predictable regulatory environment and also ensure greater transparency for consumers. The labelling regulations are enforced through Food Safety Standards (Labelling and Display) Regulations 2020.
 Source:  thehindubusinessline.com