Here we will delve into the top six latest news on trade agreements, tariffs, and cross-border commerce in India this year. Stay tuned to get a detailed knowledge of the changing landscape of international trade in India through Gujarati news.
Source- https://medium.com/@newgujaratinews/international-trade-globalization-news-on-trade-agreements-tariffs-and-cross-border-commerce-797b49cadfe9
Stay updated with the latest business news in Gujarati subscribe at: https://newgujarati.news/
Recently, the Supreme Court put to rest the
controversy as to whether in cases of inadvertent or
clerical errors in the self-assessed Bill of Entries (BoEs),
the only option available to the importers was to
challenge this self-assessed BoE by way of an appeal
within the prescribed timelines of 60 days; absent
which, the importer had no recourse.
TRADE RELATION BETWEEN INDIA AND AUSTRALIA IN GENERAL AND EXPORT OF GOLD FROM...IJCI JOURNAL
Recent years have seen remarkable growth in the trading relationship between India and Australia, fuelled by the many complementarities between the two economies. Over the past five years, bilateral trade in goods and services has increased by 24 per cent annually to US$16 billion in 2008-09. Two-way investment is also significant, estimated at over US$1.5 billion including portfolio investment in 2008. Against this backdrop, Australia and India agreed in April 2008 to undertake a feasibility study for a possible bilateral free trade agreement (FTA) to explore the scope for building an even stronger economic and trade relationship.1 The feasibility study shows that significant barriers to goods and services trade remain in both countries. An FTA between India and Australia would be expected to address tariff and non-tariff barriers. It would go beyond each country’s commitments in the World Trade Organization (WTO) and cover substantially all trade in goods. Services liberalisation would seek to remove barriers that impose additional costs on exporters and erode competitiveness. A possible FTA would be expected to have substantial services sector coverage. Australia-India investment flows are modest relative to bilateral trade, reflecting both regulatory and other impediments and, to some extent, a lack of awareness of business opportunities in the other country. A possible FTA may address this imbalance by removing – or reducing – existing restrictions in both foreign investment regimes. It could also focus on enhancing transparency and strengthening investment protection mechanisms. A comprehensive FTA offers scope to take the relationship to the next level to the mutual advantage of both economies. It could foster even stronger growth, including through more diverse trade and investment flows. Cooperation, capacity building and exchange of information on other issues such as the protection of intellectual property rights (covering all issues including TRIPS & CBD, and GIs inclusive of non-food GIs), SPS & TBT matters, competition policy and government procurement could also be considered during possible FTA negotiations. In order to make an assessment of the possible trade gains from the proposed FTA, independent economic modelling was commissioned in both the countries for the study. The results provide insights into how an FTA might impact on bilateral trade and investment flows as well as economic welfare. Economic modelling is necessarily based on certain assumptions and the results of the modelling for this study should be regarded as indicative rather than exact estimates. Different economic modelling methods, GTAP-CGE modelling and modelling based on an analysis of complementarily, were used in the study to estimate the welfare gains to both countries.
The India Edge: U.S. Industries Catalysing the Growth TrajectoryAmcham India
AMCHAM and KPMG released this report in the presence of Mr. Piyush Goyal, Minister of Commerce and Industry, Government of India at AMCHAM’s 31st Annual General Meeting on May 4th in New Delhi. India today stands at a global vantage point. The world’s most populous country with an increasingly open economy and a strong technology sector has demonstrated the potential to operate at scale with skill.
Analysis of top 5 trading partners of India, how much does India trade with the respective countries and what's will be the future growth in terms of trade between the countries.
The pandemic led to the extension of the five-year Foreign Trade Policy (FTP) 2015-2020 by two years. From April1, 2022, India’s new FTP is expected to be introduced. In all likelihood, the focus will be on strengthening exports and reducing compliances. Read more in this PDF.
Recently, the Supreme Court put to rest the
controversy as to whether in cases of inadvertent or
clerical errors in the self-assessed Bill of Entries (BoEs),
the only option available to the importers was to
challenge this self-assessed BoE by way of an appeal
within the prescribed timelines of 60 days; absent
which, the importer had no recourse.
TRADE RELATION BETWEEN INDIA AND AUSTRALIA IN GENERAL AND EXPORT OF GOLD FROM...IJCI JOURNAL
Recent years have seen remarkable growth in the trading relationship between India and Australia, fuelled by the many complementarities between the two economies. Over the past five years, bilateral trade in goods and services has increased by 24 per cent annually to US$16 billion in 2008-09. Two-way investment is also significant, estimated at over US$1.5 billion including portfolio investment in 2008. Against this backdrop, Australia and India agreed in April 2008 to undertake a feasibility study for a possible bilateral free trade agreement (FTA) to explore the scope for building an even stronger economic and trade relationship.1 The feasibility study shows that significant barriers to goods and services trade remain in both countries. An FTA between India and Australia would be expected to address tariff and non-tariff barriers. It would go beyond each country’s commitments in the World Trade Organization (WTO) and cover substantially all trade in goods. Services liberalisation would seek to remove barriers that impose additional costs on exporters and erode competitiveness. A possible FTA would be expected to have substantial services sector coverage. Australia-India investment flows are modest relative to bilateral trade, reflecting both regulatory and other impediments and, to some extent, a lack of awareness of business opportunities in the other country. A possible FTA may address this imbalance by removing – or reducing – existing restrictions in both foreign investment regimes. It could also focus on enhancing transparency and strengthening investment protection mechanisms. A comprehensive FTA offers scope to take the relationship to the next level to the mutual advantage of both economies. It could foster even stronger growth, including through more diverse trade and investment flows. Cooperation, capacity building and exchange of information on other issues such as the protection of intellectual property rights (covering all issues including TRIPS & CBD, and GIs inclusive of non-food GIs), SPS & TBT matters, competition policy and government procurement could also be considered during possible FTA negotiations. In order to make an assessment of the possible trade gains from the proposed FTA, independent economic modelling was commissioned in both the countries for the study. The results provide insights into how an FTA might impact on bilateral trade and investment flows as well as economic welfare. Economic modelling is necessarily based on certain assumptions and the results of the modelling for this study should be regarded as indicative rather than exact estimates. Different economic modelling methods, GTAP-CGE modelling and modelling based on an analysis of complementarily, were used in the study to estimate the welfare gains to both countries.
The India Edge: U.S. Industries Catalysing the Growth TrajectoryAmcham India
AMCHAM and KPMG released this report in the presence of Mr. Piyush Goyal, Minister of Commerce and Industry, Government of India at AMCHAM’s 31st Annual General Meeting on May 4th in New Delhi. India today stands at a global vantage point. The world’s most populous country with an increasingly open economy and a strong technology sector has demonstrated the potential to operate at scale with skill.
Analysis of top 5 trading partners of India, how much does India trade with the respective countries and what's will be the future growth in terms of trade between the countries.
The pandemic led to the extension of the five-year Foreign Trade Policy (FTP) 2015-2020 by two years. From April1, 2022, India’s new FTP is expected to be introduced. In all likelihood, the focus will be on strengthening exports and reducing compliances. Read more in this PDF.
This final project describes on how India's role as a developing nation in the Global Value Chain (GVCs) and how lead firms & Govt. policies can change the dynamics of GVCs in India by improving upon certain core ares in terms of polices and regulations to become an integral part and active player in the GVC to achieve its goal reaching 5 trillion economy by 2024.
The emerging strategic context in Asia and across the Indo-Pacific requires India and Australia, as two democracies which are also partners in the Quad, to work closer together. In his opening remarks at the Australia-India bilateral summit in June this year, Prime Minister Narendra Modi[1] referred to the shared values, shared interests, shared geography and shared objectives of the two countries and observed: “I believe that this is the perfect time, the perfect opportunity to further strengthen the relations between India and Australia”.
India- EU relations go back to the early 1960s. India was among the first countries to establish diplomatic relations with the (then) EEC. The 1994 cooperation agreement signed between EU and India took bilateral relations beyond merely trade and economic cooperation.India-EU relations have grown exponentially from what used to be a purely trade and economic driven relationship to one covering all areas of interaction. The Summit in The Hague was a landmark Summit, as it endorsed the proposal to upgrade the India-EU relationship to the level of a 'Strategic Partnership'.The GOI see it as a qualitative transformation in the way we engage as equal partners and work together in partnership with the world at large.
SOURCE:http://commerce.nic.in/trade/India_EU_jap.pdf
Increased inflow from developing countries is partially explained by the well-known investment development path (IDP) theory by Dunning, which says outward FDI is undertaken when the country reaches a certain minimum level of development. As countries move along the IDP from the initial stage of only receiving inward FDI, domestic firms acquire ownership and other advantages to go abroad and the country reaches the final stage and becomes an important outward investor. Indian outward investors are investing in a number of developed and developing countries.
As predicted by IDP theory, Initially Indian Official FDI was concentrated towards other developing countries. However, after the year, 2004-05 overwhelming proportions of these investments are directed to developed countries and the gap between the two has diverged considerably. Initially, the outflows to high income and developed countries were in the ratio of 40:60, but it has now become 85:15
Indian industrial houses like the Tata group, Birla, Reliance, Ranbaxy, ONGC, Infosys and etc. are now more interested in cross-border acquisitions.
The inclination for cross border acquisitions by Indian corporate suggests that they have started bidding for much larger businesses than their own and for those that are based in high-income countries.
http://euacademic.org/BookUpload/12.pdf
So it is clear that EU and India are trading naturally they are not in any pressure from any Multilateral agencies i.e. WTO, world bank group, IMF etc. to perform trade. Therefore they are Natural and Obvious trading Partners.
According to me yes both EU and India are Natural & obvious trading partners but the advantages of trade is not shared equally.
"India and the EU, as the largest democracies in the world, share common values and beliefs that make them natural partners as well as factors of stability in the present world order."
g
Objectives & Agenda :
To understand the backdrop of RCEP, its need and the implications of RCEP on the global economy. The webinar shall predominantly focus on detailed analysis on the dissenting factors which led India opt out of RCEP and what impact this shall have on other countries along with India. Lastly, the webinar shall conclude with the avenues available with India in relation to RCEP post opting out.
India Union Budget 2015 - An Overview | A BDO India PublicationOperations BDO
The Honourable Finance Minister of India, Mr. Arun Jaitley announced the most inclusively developmental budget for India for the coming fiscal.
Co-operative federalism sharpening the focus on ‘Ease of Doing Business in India’ alongside strengthening domestic macroeconomic fundamentals are the cornerstones of the Budget.
Setting national priorities in perspective with an aim of fiscal consolidation through a host of reforms and a tighter policy framework gives India Inc., much to look forward to.
BDO India LLP brings together an overview of key changes set out in the Union Budget in their proprietary publication INDIA UNION BUDGET 2015 – An Overview.
Trade Policy Reform of India 2008 - 2019
The Trade Policies in India are formulated by Government of India, Ministry Of Commerce And Industries and Department of Commerce.
Mr commerce minister, us will go back to tppM S Siddiqui
The political leadership is in right directions. We have observed sincere desire of our present Commerce Minister Mr Tofail Ahmed to sign FTA/PTA with Sri Lanka and Thailand has been slowed down by different ministries and departments. The vision of political leadership should be honored by the administration.
Bangladesh has one possible solution to joint TPP and become stakeholder of the game under TPP Plus option. Bangladesh should try to join Regional Comprehensive Economic Partnership (RCEP). Bangladesh should immediately go for free trade agreement with USA and EU the largest buyers from Bangladesh. We should also immediately sign FTA with China and India, the major sources of raw materials of export products.
New base february 19 2022 energy news issue - 1488 by khaled al awadiKhaled Al Awadi
NewBase February 19-2022 Energy News issue - 1488 by Khaled Al Awadi
NewBase February 19-2022 Energy News issue - 1488 by Khaled Al Awadi
NewBase February 19-2022 Energy News issue - 1488 by Khaled Al Awadi
NewBase February 19-2022 Energy News issue - 1488 by Khaled Al Awadi
NewBase February 19-2022 Energy News issue - 1488 by Khaled Al Awadi
NewBase February 19-2022 Energy News issue - 1488 by Khaled Al Awadi
v
The Evolution of Cybersecurity Threats in a Digitally Connected World.pdfNew Gujarati News
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To keep updated with world news in Gujarati, Subscribe to our news portal New Gujarati News at: https://newgujarati.news/.
Exploring the Rise of Artificial Intelligence in Global Politics.pdfNew Gujarati News
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This final project describes on how India's role as a developing nation in the Global Value Chain (GVCs) and how lead firms & Govt. policies can change the dynamics of GVCs in India by improving upon certain core ares in terms of polices and regulations to become an integral part and active player in the GVC to achieve its goal reaching 5 trillion economy by 2024.
The emerging strategic context in Asia and across the Indo-Pacific requires India and Australia, as two democracies which are also partners in the Quad, to work closer together. In his opening remarks at the Australia-India bilateral summit in June this year, Prime Minister Narendra Modi[1] referred to the shared values, shared interests, shared geography and shared objectives of the two countries and observed: “I believe that this is the perfect time, the perfect opportunity to further strengthen the relations between India and Australia”.
India- EU relations go back to the early 1960s. India was among the first countries to establish diplomatic relations with the (then) EEC. The 1994 cooperation agreement signed between EU and India took bilateral relations beyond merely trade and economic cooperation.India-EU relations have grown exponentially from what used to be a purely trade and economic driven relationship to one covering all areas of interaction. The Summit in The Hague was a landmark Summit, as it endorsed the proposal to upgrade the India-EU relationship to the level of a 'Strategic Partnership'.The GOI see it as a qualitative transformation in the way we engage as equal partners and work together in partnership with the world at large.
SOURCE:http://commerce.nic.in/trade/India_EU_jap.pdf
Increased inflow from developing countries is partially explained by the well-known investment development path (IDP) theory by Dunning, which says outward FDI is undertaken when the country reaches a certain minimum level of development. As countries move along the IDP from the initial stage of only receiving inward FDI, domestic firms acquire ownership and other advantages to go abroad and the country reaches the final stage and becomes an important outward investor. Indian outward investors are investing in a number of developed and developing countries.
As predicted by IDP theory, Initially Indian Official FDI was concentrated towards other developing countries. However, after the year, 2004-05 overwhelming proportions of these investments are directed to developed countries and the gap between the two has diverged considerably. Initially, the outflows to high income and developed countries were in the ratio of 40:60, but it has now become 85:15
Indian industrial houses like the Tata group, Birla, Reliance, Ranbaxy, ONGC, Infosys and etc. are now more interested in cross-border acquisitions.
The inclination for cross border acquisitions by Indian corporate suggests that they have started bidding for much larger businesses than their own and for those that are based in high-income countries.
http://euacademic.org/BookUpload/12.pdf
So it is clear that EU and India are trading naturally they are not in any pressure from any Multilateral agencies i.e. WTO, world bank group, IMF etc. to perform trade. Therefore they are Natural and Obvious trading Partners.
According to me yes both EU and India are Natural & obvious trading partners but the advantages of trade is not shared equally.
"India and the EU, as the largest democracies in the world, share common values and beliefs that make them natural partners as well as factors of stability in the present world order."
g
Objectives & Agenda :
To understand the backdrop of RCEP, its need and the implications of RCEP on the global economy. The webinar shall predominantly focus on detailed analysis on the dissenting factors which led India opt out of RCEP and what impact this shall have on other countries along with India. Lastly, the webinar shall conclude with the avenues available with India in relation to RCEP post opting out.
India Union Budget 2015 - An Overview | A BDO India PublicationOperations BDO
The Honourable Finance Minister of India, Mr. Arun Jaitley announced the most inclusively developmental budget for India for the coming fiscal.
Co-operative federalism sharpening the focus on ‘Ease of Doing Business in India’ alongside strengthening domestic macroeconomic fundamentals are the cornerstones of the Budget.
Setting national priorities in perspective with an aim of fiscal consolidation through a host of reforms and a tighter policy framework gives India Inc., much to look forward to.
BDO India LLP brings together an overview of key changes set out in the Union Budget in their proprietary publication INDIA UNION BUDGET 2015 – An Overview.
Trade Policy Reform of India 2008 - 2019
The Trade Policies in India are formulated by Government of India, Ministry Of Commerce And Industries and Department of Commerce.
Mr commerce minister, us will go back to tppM S Siddiqui
The political leadership is in right directions. We have observed sincere desire of our present Commerce Minister Mr Tofail Ahmed to sign FTA/PTA with Sri Lanka and Thailand has been slowed down by different ministries and departments. The vision of political leadership should be honored by the administration.
Bangladesh has one possible solution to joint TPP and become stakeholder of the game under TPP Plus option. Bangladesh should try to join Regional Comprehensive Economic Partnership (RCEP). Bangladesh should immediately go for free trade agreement with USA and EU the largest buyers from Bangladesh. We should also immediately sign FTA with China and India, the major sources of raw materials of export products.
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International Trade & Globalization: News on Trade Agreements, Tariffs, and Cross-Border Commerce
1. International Trade & Globalization:
News on Trade Agreements, Tariffs, and
Cross-Border Commerce
2. In the dynamic world of international trade, India has been making
significant strides in 2023, with several newsworthy developments in trade
agreements, tariffs, and cross-border commerce. These updates have a
direct impact on the Indian economy, businesses, and consumers.
In this blog, we will delve into the top six latest news on trade agreements,
tariffs, and cross-border commerce in India this year. Stay tuned to get a
detailed knowledge of the changing landscape of international trade in
India through Gujarati news.
Introduction:
3. Latest News on Trade Agreements, Tariffs, and
Cross-Border Commerce in India
1. India-Japan Comprehensive Economic Partnership Agreement (CEPA)
2. India-Australia Economic Cooperation and Trade Agreement (IA-ECA)
3. India-UAE Comprehensive Economic Partnership Agreement (CEPA)
4. India-UK Free Trade Agreement (FTA)
5. India-EU Free Trade Agreement (FTA)
6. India’s new export policy
7. India to Extend its Retaliatory Tariffs on Chinese Goods
8. India’s New Import Tariffs
9. India’s Cross-Border Trade
4. India and Japan signed the CEPA in January 2023. The agreement eliminates tariffs
on over 90% of goods traded between the two countries. Plus, it also includes
provisions for investment, services, and intellectual property. The CEPA is expected
to boost trade between India and Japan by $5 billion annually.
1. India-Japan Comprehensive Economic
Partnership Agreement (CEPA)
5. India and Australia signed the IA-ECA in April 2023. The ECTA is expected to boost
trade between the two countries by up to $10 billion per year. It will also reduce
tariffs on a range of goods and services, making it easier for businesses to trade
between India and Australia.
2. India-Australia Economic Cooperation and
Trade Agreement (IA-ECA)
6. India and the United Arab Emirates (UAE) agreed to a Comprehensive Economic
Partnership Agreement (CEPA) in January 2023. This agreement is expected to
boost trade between India and the UAE by up to $100 billion over the next five
years.
3. India-UAE Comprehensive Economic
Partnership Agreement (CEPA)
7. India and the UK are currently negotiating an FTA. The FTA is expected to cover
goods, services, investment, and government procurement. The Free Trade
Agreement (FTA) between these two countries is anticipated to be signed in 2023.
4. India-UK Free Trade Agreement (FTA)
8. This agreement is currently under negotiation and is expected to be signed in 2023.
It will be the largest free trade agreement between India and any other country. It
will eliminate tariffs on 90% of goods traded between the two regions. And create
new opportunities for investment and cooperation in areas such as agriculture,
pharmaceuticals, and IT.
5. India-EU Free Trade Agreement (FTA)
9. The Indian government has announced a new export policy for 2023–2024. The
policy aims to boost exports by $100 billion annually. The policy includes measures
to improve the ease of doing business for exporters. Plus, it also provides incentives
for exports of high-value goods and services.
6. India’s new export policy
10. India to extend retaliatory tariffs on Chinese goods until December 2023. The Indian
government has decided to extend the retaliatory tariffs on Chinese goods until
December 2023. The tariffs were first imposed in June 2020 in response to a trade
war between the two countries. The extension of the tariffs is likely to further strain
trade relations between India and China.
7. India to Extend its Retaliatory Tariffs on Chinese
Goods
11. India has imposed new import tariffs on a range of goods, including electronics,
machinery, and chemicals. The tariffs are aimed at protecting domestic industries
from foreign competition. The tariffs have been criticized by some businesses, who
say they will increase costs and make it harder for them to compete in the global
market.
8. India’s New Import Tariffs
12. India’s cross-border trade has been growing rapidly in recent years. In 2022, cross-
border trade was worth $100 billion. The growth of cross-border trade has been
driven by factors such as the rise of e-commerce and the increasing integration of
India’s economy with the global economy.
9. India’s Cross-Border Trade
13. Conclusion
The evolving landscape of trade agreements, tariffs, and cross-border
commerce in India is shaping the country’s economic future. From progressive
trade agreements to tariff reforms, these developments have far-reaching
implications for businesses and consumers alike.
Stay updated with the latest business news in Gujarati on New Gujarati News
to gain insights into the transformative world of international trade in India