U.S. waives sanctions on frozen Iranian oil funds

The United States has temporarily waived sanctions on Iranian oil funds abroad but without returning Tehran’s access to its bank accounts in Japan and South Korea. “Allowing these funds to be used to repay exporters in these jurisdictions will make those entities whole with respect to the goods and services they exported to Iran, address a recurring […]

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Commerce and Industry minister, Piyush Goyal calls for Indo-Pacific trade agreement

Commerce and Industry Minister Piyush Goyal called for a services trade agreement among friendly nations of the Indo-Pacific region as it can help liberalise domestic regulations and build capacity in sectors like e-commerce and IT. Speaking at special plenary with the trade ministers of the Indo-Pacific region, Goyal said India’s trade with select Indo-Pacific economies […]

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Frequent bans on onion exports from India draws ire from farmers, Japan and the US

The US and Japan have raised questions on India’s frequent ban on onion exports at the World Trade Organization (WTO), claiming that such sporadic and frequent bans without prior notification put importing countries in a difficult position. Simultaneously, in Maharashtra onion growers have also demanded that the government draft a comprehensive policy on the import […]

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India starts investigating alleged dumping of electrogalvanized steel from Korea, Japan, Singapore

India has initiated a probe into alleged dumping of electrogalvanized steel, used in auto and electronics industries, from Korea, Japan, Singapore following a complaint by a domestic company. Noida (NCR) based AmericanPrecoat Speciality Pvt Ltd has filed an application before the Directorate General of Trade Remedies (DGTR) for investigation of anti-dumping duty concerning the imports […]

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APEDA gaining foothold in Canada and several other countries

To ease the procedure for export and reduce the financial burden on producers and exporters due to multiple certifications as per regulation of various countries, APEDA has been negotiating with major organic produce importing countries for mutual recognition. Canada is in the process of designating India’s agri export promotion agency Agricultural and Processed Food Products […]

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Outlook for natural gas and coal: World Bank Data Blog

Natural gas and coal prices have risen since the start of 2021, albeit with significant fluctuations in the first quarter. Prices have gone up by rebounding global economic activity, bouts of very cold weather in northeast Asia and the U.S., and several supply disruptions. Prices are expected to average around one-third higher in 2021 than […]

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