COMMENT – Pandemic bleeds global economy, but trade upturn could provide hope

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The global economy is bleeding thanks to the COVID-19 pandemic that continues to spread and kill people in thousands across the world, hitting newer countries and sometimes reappearing for a second wave in places it was believed to have walked away from after its earlier dance of destruction. However, there is a ray of hope […]

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India replaces Insecticides Act, 1968 with Pesticides Management Bill (PMB), 2020

India’s Union Cabinet approved “Pesticides Management Bill (PMB)” which will replace Insecticides Act 1968. The PMB is likely to be introduced in the present session of Parliament for its approval.  Mr. Pradip Dave, President of Pesticides Manufacturers & Formulators Association of India (PMFAI)  said, “About PMB, there are lot of concerns and confusions prevailing in Pesticide Industry […]

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India’s sugar may dominate global market from next fiscal, FY 2020-21

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India may dominate the global sugar market as prospects for next year’s cane crop have brightened due to brimming reservoirs. Bountiful monsoon rains this year have led to above average water levels in reservoirs, which will in turn boost the amount of sugar cane that’s planted, according to industry and Indian government officials. Sugar output […]

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Hallmarking for gold jewellery mandatory from January 15, 2021

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In a bid to further protect the jewellery buyers from buying inferior quality ornaments, the Narendra Modi-led NDA government has decided to make BIS hallmarking mandatory for gold jewellery from January 15, 2021. According to Union Minister of Consumer Affairs Ram Vilas Paswan, the move would ensure that the consumers don’t get cheated into buying […]

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India probes alleged subsidised export of certain steel items by Indonesia

India has initiated a probe into an alleged subsidised export of certain steel products by Indonesia, following complaints by domestic industry. The petitioners have alleged that the producers/exporters of certain steel products in Indonesia have benefited from the actionable subsidies provided at various levels by the Indonesian government. The commerce ministry’s investigation arm Directorate General […]

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India’s commerce ministry to soon come out with new foreign trade policy

India’s Commerce Ministry will soon come out with a new foreign trade policy, which provides guideline and incentives for increasing exports, for the next five financial years 2020-25. The ministry is giving final touches to the new policy as the validity for the old one will end on March 31, 2020. The Ministry said that […]

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WTO to rule on India Sugar export subsidies

The World Trade Organization (WTO) set up panels to rule on complaints by Australia, Brazil and Guatemala against India’s export subsidies for sugar and sugarcane producers which they assert are illegal, Reuters reported. Last month, India had blocked the first-time request from Australia, Brazil and Guatemala for establishing the panel. But the three complainants made […]

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