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Here's what Airtel needs to do to touch $100 billion valuation

For the fiscal ended March 2020, Bharti Airtel’s consolidated India debt stood at Rs 1.1 lakh crore whereas, Jio’s parent Reliance Ind ...
The Economic Times
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| 13 July, 2020, 10:56 PM IST | E-Paper
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    Trade with Bangladesh opens doors for India's non-basmati rice exports

    “Bangladesh largely buys non-basmati rice. We have come to know that Bangladesh will import rice from India this year,” said Vinod Kaul, executive director, All India Rice Exporters’ Association. “We are getting in touch with the Indian embassy in Bangladesh and Bangladesh embassy in New Delhi to get a clearer picture on this issue.”

    U.S. remains India's top trading partner in 2019-20

    The US is one of the few countries with which India has a trade surplus. The trade gap be...

    Government lifts export ban on non-woven fabric used for making masks and coveralls

    Last month, India allowed the export of personal protecti...

    • Coinciding with a 20-25% decline in orders, suppliers have been asked to provide up to 20% discounts on prices across sectors, extend credit periods and reduce lead time to ensure that products reach before October.

      Under the India-Iran trade deal, local oil refiners used to import crude oil from the middle east nation and make payments to the designated rupee-account at Uco and IDBI. This was till the time crude oil was in the exempted list of US sanctions. These banks, in turn, use that fund to settle payment to exporters.

      Last week’s decision to resume border trade via West Bengal despite opposition from the Mamata Banerjee government will help increase Bangladeshi exports to India after a hiatus, said sources.

      Export recovery, which may begin from the second quarter, could get further delayed if the border standoff with China lingers on, an India Ratings report said, adding ability of export-oriented manufacturers to keep up supply will remain key to navigating the path to recovery.

      India and the EU are negotiating a comprehensive FTA, officially dubbed as the Bilateral Trade and Investment Agreement, but the talks are stalled since May 2013 due to differences on several matters. Federation of Indian Export Organisations President S K Saraf said Vietnam, a strong competitor of India, has already signed a similar agreement with the EU, which is likely to be operational by July-August 2020.

      The process must the gradual, spread over several years. Any other approach will spell pain in Indian markets.

      The platform will be rolled out in phases and the first phase is scheduled to go live on July 13, the Directorate General of Foreign Trade (DGFT) has said in a notice to all members of trade/trade associations, and its regional authorities.

      India, the world's second-biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well.

      Drawing from the historical role that multilateralism has played in fostering global peace and stability, Rohinton Medhora, President of Canada-based Centre for International Governance Innovation, said that “Not just the decline in the volume of trade, we need to understand how that undermined the values of the multilateral trading system”

      In what looks more counterproductive, negating the basic premise of foreign companies-driven exports growth, these very same foreign companies have driven up imports, shipping in 13.4 per cent more raw materials and machinery in 2018-19, says the World Trade Centre (WTC) quoting the latest figures from the Reserve Bank.

      Global supply chains were disrupted after the Covid-19 outbreak, hurting India’s manufacturers and exporters, and that was followed by border tensions with China that erupted last month.

      "The GSP by law requires that there be some market opening measures in recipience of that preferential system, and that's what we have been trying to reach an agreement on with the government of India," U.S. ambassador to India Kenneth Juster said at India Global Week 2020, an online business summit.

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