A huge jump in duty-free garment imports from Bangladesh under the free trade agreement has put the domestic industry in a fix. This comes amidst slowing domestic demand and banks curtailing credit to 80 per cent of MSMEs (micro, small and medium enterprises) in the sector. Import of garments from Bangladesh was up 82 per…
The US dragged India to the WTO by filing a complaint against New Delhi’s move to increase customs duties on 28 American goods, alleging the decision is inconsistent with the global trade norms. According to a communication of the Geneva based World Trade Organisation (WTO), the US said that the additional duties imposed by India…
The RCEP, India most-ambitious trade pact, is currently under negotiation. It includes the 10-nation bloc of the Association of Southeast Asian Nations (ASEAN) and their six free-trade partners — China, India, Japan, South Korea, Australia and New Zealand. The countries working towards finalizing RCEP comprise a quarter of global gross domestic product, 30% of global…
SEZs are popular instruments in developing countries for pursuing export-led growth strategies, for easier integration into the world economy. The main advantage of SEZs can be summarised as promotion of industrialisation and economic growth through sustainable development. WHAT CONSTITUTES a Special Economic Zone (SEZ) is determined individually by each country. According to the World Bank…
With purpose-built infrastructure, specialised facilities, separate rules & regulations, exclusive connectivity to ports and other major industrial areas through multi-modal transport systems, Bahrain’s Free Trade Zones offer a competitive edge for foreign businesses operating out of here, contends Ivor Vaz THE KINGDOM OF BAHRAIN is diversifying its economy away from unsustainable hydrocarbons resources to sectors…
Welcoming the much-needed booster for the exports sector, FIEO President, Mr Sharad Kumar Saraf said that the announcement made by the Hon’ble Finance Minister Ms Nirmala Sitharaman has come at a time when there are signs of worsening global economic conditions pointing further toward downward revision of global trade growth. Slew of new measures announced…
Oct-Nov-Dec | 2019 OPEN TRADE TRADE ASEAN persuades India to speed up talks on RCEP Pressure is piling up on India from other members of the Regional Comprehensive Economic Partnership (RCEP), especially the ASEAN, to end its stalemate with China on market opening offered under the proposed pact. Trade Ministers of Thailand and Indonesia and…
The Indian Army has approved the opening of a new trading point with China at Dumchelle in Ladakh, the third such along India’s disputed, albeit peaceful 3,488-km border with China in a confidence building measure ahead of Chinese President Xi Jinping’s October visit. Although the Indian Army’s spokesperson did not respond to queries, three officials…
Relations between India and Russia are rooted in history, mutual trust and mutually beneficial cooperation. This is a strategic partnership that has withstood the test of time, and which enjoys the support of the people of both countries, says Ivor Vaz IF THERE HAS EVER BEEN a longstanding and time-tested partner for India, it is…
IACC and KPMG recently organised a roundtable convention where in leaders from American and Indian companies deliberate on irritants in Indo-US trade. Ivor Vaz reports… GIVEN THE PACE at which the India-US relationship has been flourishing in recent times, and the huge significance of bilateral trade between these two democracies, the Indo American Chamber of…
