Category: Trade Partnership

Feb 19

Ragi to riches: India’s new millet campaign is about how the grain is good for people and planet

India has globally relaunched an old and failed brand — the millet. Called mota anaj (big grain), millet has been looked down upon as a coarse grain while wheat and rice have occupied pride of place as fine grains. New Delhi’s campaign to make millet a global brand has got a push with the United Nations accepting India’s proposal to declare 2023 as the International Year of Millets. The cereal has been gaining traction among the health-conscious in India and Read Full Details…

Feb 18

Notification Under S. 5 of FTDR Act Can’t Be Applied Retrospectively To Refuse Advance Authorization To Importer: Delhi High Court

The Delhi High Court has ruled that a notification issued under Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (FTDR Act), which empowers the Central Government to formulate and announce the foreign trade policy, cannot be applied retrospectively by the Central Government. The bench of Justice Prathiba M. Singh held that once a notification issued under Section 5 of the FTDR Act is quashed by the Court, the same cannot be relied upon by the Directorate General Read Full Details…

Feb 17

Mexico to relax restrictions on GM corn imports

MEXICO CITY, MEXICO — Mexico has announced that it is softening its proposed ban on GM corn imports, reversing course on plans to ban GM corn in animal feed after the United States threatened trade retaliation, Reuters reported. The decision, announced earlier this week, does not impact Mexico’s plan to ban GM corn for human consumption as well as any use of glyphosate, a controversial herbicide that the International Agency for Research on Cancer has labeled as “probably carcinogenic to Read Full Details…

Feb 17

Imports and Exports of Copper Semis Slumped in January due to CNY holiday

SMM expects that China’s copper semis imports in January to have fallen 33.41% MoM and 47.41% YoY to 22,000 mt. Exports are estimated to stand at 31,500 mt in January, down 36.18% MoM, and down 55.82% YoY. We believe that the sharp month-on-month drop in copper semis imports in January was due to the CNY holiday. According to customs data, the total import volume of copper rods and copper wires from January to December 2022 was 142,100 mt, a significant Read Full Details…

Feb 17

India’s soymeal exports to soar as drought trims Argentine supply

Soymeal exports from India are increasing sharply as drought has hit output from top exporter Argentina, with 500,000 tonnes likely to be shipped from the South Asian country in February and March combined, three exporters said. The drop in Argentina’s output has driven up the South American producer’s prices, making Indian soymeal more competitive. India’s exports in the first four months of the 2022/23 marketing year, which began on Oct. 1, surged 65% to 631,000 tonnes, nearly matching the 644,000 Read Full Details…

Feb 17

Georgia signs agreement to expand vehicle import/export port

The Georgia Ports Authority and the Army Corps of Engineers have signed an agreement to expand the Port of Brunswick, a move state officials said will help prepare the port for expansion. The agreement, announced Monday, clears the way for the Corps to begin dredging and widening certain sections of the port to accommodate larger vessels and shipments rolling onto and off of cargo ships. “The channel improvements will allow ocean carriers to serve the Port of Brunswick with greater Read Full Details…

Feb 17

In charts: How a global slowdown is effecting India’s exports and the economy

India’s labour intensive sectors could bear greater brunt of global deceleration in 2023. Global slowdown this year will be led by advanced economies, especially the US and the eurozone. Being two of India’s largest export destinations, a slowdown in their economies would imply lower demand for Indian exports. Sectors such as textiles, footwear, and leather depend significantly on these two regions, making them particularly vulnerable to a slowdown in these economies, according to an analysis by Crisil. S&P Global, in Read Full Details…

Feb 16

Dhaka wants removal of tariff, non-tariff barriers to reduce trade deficit with Delhi

Bangladesh has expressed satisfaction with increasing trade with India and emphasised removing all tariff and non-tariff barriers to reduce the trade deficit. At the foreign office consultation (FOC) Wednesday, Bangladesh sought India’s cooperation in resolving the pending issues, especially, concluding water-sharing treaties, including Teesta. Bangladesh also emphasised maintaining a predictable flow of commodities from India for a stable market in Bangladesh. Foreign Secretary Masud Bin Momen and Foreign Secretary of India Vinay Mohan Kwatra led their respective delegations at the Read Full Details…

Feb 16

Irish exports and imports hit record highs in 2022

The value of Irish exports and imports hit a new record high last year, according to the Central Statistics Office, despite the challenging economic backdrop. Total exports reached €208 billion, up over €42 billion or 26% compared with the previous year. While total imports were worth €140 billion, an increase of €36 billion or 35%. “In December 2022, Ireland’s unadjusted exports of goods increased by €1.7 billion to €14.8 billion compared with December 2021,” said Ciarán Counihan, Statistician in the Read Full Details…

Feb 16

Japan logs record merchandise trade deficit in Jan as export growth slows

TOKYO (Reuters) – Growth in Japan’s merchandise exports slowed sharply in January amid weakening Chinese demand for cars and chipmaking machinery, stoking concern about a global slowdown and creating the country’s largest trade deficit on record. Trade figures issued on Thursday followed weaker-than-expected gross domestic product data, underscoring the challenge for the Bank of Japan in achieving growth led by private demand while stably sustaining inflation above 2%. Aggressive interest rate rises in other advanced economies have cooled demand for Read Full Details…