04 Dec, 2024 News Image Supply Chain Council formed under Supply Chain Resilience Agreement, with USA as Chair and India as Vice-Chair.
India has signed the Supply Chain Resilience Agreement (Pillar-II) in November 2023 under the Indo-Pacific Economic Framework for Prosperity (IPEF), a 14 member plurilateral grouping in the region. The Agreement seeks to strengthen supply chain crucial for national security and economic stability. The Agreement came into force on February 24, 2024.  Under the Agreement, a Supply Chain Council (SCC) has been set up with the US as Chair and India as Vice-Chair.
 

 Source:  pib.gov.in
04 Dec, 2024 News Image India, UK review ties, focus on early conclusion of FTA.
India and the UK on Tuesday reviewed their ties with a focus on the early conclusion of a mutually beneficial free trade pact, boosting counter-terror cooperation and enhancing defence ties. At the second edition of the India-UK 2+2 foreign and defence dialogue held here, the two sides agreed to revitalise the ties by identifying new focus areas of collaboration.
 

 Source:  economictimes.indiatimes.com
04 Dec, 2024 News Image Longer ship routes causing delays, impacting global trade: Piyush Goyal.
The long voyage time due to ships taking longer routes through Cape of Good Hope has impacted global trade, including Indian exports, Commerce and Industry Minister Piyush Goyal said on Tuesday.
 

 Source:  business-standard.com
03 Dec, 2024 News Image Bangladesh: Another 2.31 lakh eggs imported from India.

Amid the spiralling prices of eggs at local markets, another shipment of 2.31 lakh eggs entered the country from India through Benapole land on Saturday night.


 Source:  daily-sun.com
03 Dec, 2024 News Image Commerce ministry reviewing India-US trade relations amid Trump statements.

The commerce ministry is reviewing various aspects of India-US trade relations focusing on implications of statements made by US President-elect Donald Trump during his election campaign and after the results, an official said.


 Source:  business-standard.com
03 Dec, 2024 News Image Sri Lanka raises potato import tax and lowers lowers onion levy.

Sri Lanka has revised its food import tax structure, significantly increasing the tax on imported potatoes to approximately $184 per ton, while reducing the tax on onions from $122 to $31 per tonne, as outlined in a gazette notice. 


 Source:  freshplaza.com
03 Dec, 2024 News Image India exports organic food products worth nearly $450 million till November 25 of FY2025.

India has exported organic food products worth nearly USD 450 million till November 25 of the current fiscal year, the government said on Monday. The country has exported 2,63,050 tonnes for USD 447.73 million till November 25 of the current fiscal, an official statement said.


 Source:  economictimes.indiatimes.com
03 Dec, 2024 News Image Mauritius offers India a gateway for strategic cooperation with Africa.

Mauritius is an important gateway for India’s strategic and economic partnership with Africa. Located in the Indian Ocean, Mauritius is in a position to leverage its geographic location, robust economic policies and regional agreements to facilitate trade and investment between India and Africa in consonance with India’s Africa strategy as laid down by Prime Minister Narendra Modi.


 Source:  livemint.com
03 Dec, 2024 News Image Trade among India, Afghanistan and Iran will prosper if peace prevails: WTC Kabul chairman.

If peace and prosperity prevails, trade and investment among India, Afghanistan and Iran will grow four fold and it will also strengthen economic integration with the countries of the Commonwealth of Independent States (CIS), said Zabihullah Ziarmal,Chairman of the World Trade Center (WTC), Kabul.


 Source:  deccanherald.com
03 Dec, 2024 News Image Sri Lanka: Cabinet Grants Approval for Private Sector to Import Rice.

The government has decided to grant permission for the private sector to import rice.


 Source:  newsfirst.lk