India open to mutually beneficial arrangements on QCOs with trusted partners: Goyal
Live Events
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
India is open to mutually beneficial arrangements on implementing norms related quality standards with its trusted trading partners, Commerce and Industry Minister Piyush Goyal said on Thursday.He said India is implementing QCOs ( quality control orders ) to promote manufacturing of quality goods in the country.The rules, standards, and process are the same for domestic as well imported goods and India does not discriminate between domestic manufacturers and foreign suppliers, he said, adding that equal treatment is given to companies of all the countries."But certainly there could be room to find innovative solutions so that it becomes easier for trusted partners who are producing good quality products to get pathways by which such approvals can become simpler."We are open to suggestions. We are in dialogue with several nations on a mutual benefit basis and a mutual recognition basis, if other nations are willing to respect the high quality goods that India makes and allow us to do our own certification process. We are happy to allow our trusted partners to do the same," Goyal said.However, he added that all such relationships will be based on mutual respect for each other's regulations.The US and the EU, among others, have raised issues pertaining to these QCOs. The EU has sought simpler certification processes under these orders.QCOs are designed to prevent the import of substandard goods and ensure consumer access to high-quality products.The number of products under QCO coverage has witnessed a significant jump from 106 in 2014 to over 732 products by October 2024.The move aligns with India's broader strategy to enhance domestic manufacturing standards while curbing the influx of low-quality imports.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
5 hours ago
- Time of India
Iran-US nuclear talks shot down by Israeli attacks; what it means for Middle East and Tehran's path to acquire nukes
Live Events Why did Israel attack now Where do US-Iran talks stand now (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Fresh tensions in the Middle East following Israel's airstrikes on Iranian military and nuclear infrastructure and Iran's retaliation have thrown the Iran-US nuclear talks into murky waters. As conflict between Israel and Iran heats up, Oman has officially confirmed the breakdown of negotiations between Tehran and Washington on the nuclear Foreign Minister Badr Albusaidi, in a post on X, confirmed the cancellation of nuclear talks. "The Iranian-American talks scheduled for this Sunday in Muscat will now not take place. But diplomacy and dialogue remain the only path to lasting peace," he Iran also called the negotiations 'pointless' after Israel launched strikes against the Islamic Republic, killing its four senior commanders, including Maj. Gen. Hossein Salami, Iranian military chief Mohammad Bagheri, and Air Force chief Brig. Gen. Amir Ali US President Donald Trump had called on Tehran to resume negotiations and conclude a deal 'before it is too late.'In response to Israel's airstrikes, Iran late Friday (June 13) launched more than 150 ballistic missiles against Israel, marking the beginning of a retaliatory operation called True Promise III. The main target of the strike was the city of Tel Aviv, Iranian media reported. Iran claimed that it managed to hit the headquarters of the Israeli Ministry of Defense, MaKirya (also known as The Kirya or Israel's Pentagon)Many experts, closely following developments in the Middle East, believe that the Israeli attacks against Iran were no coincidence, and they clearly depicted that Israel not only wanted to derail the negotiations but also sabotage them to push Iran towards abandoning them there are multiple factors that could have been a force behind Israel's decision to launch an offensive against Iran days before its negotiation talks with of the likely reasons could have been that Iran was taking strides toward enriching uranium to a degree that would likely allow Tehran to upgrade to a weapons-grade level very rapidly, according to a report by the International Atomic Energy Association (IAEA). Also, intelligence shows that Iran was inching closer to a possible breakout status for a nuclear proxies like Hamas, Hezbollah, Houthis and some other militant groups don't present the same threat to Israel. In the past, an Israeli attack on Iran would have invited a multidirectional response from all corners of the resistance as seen in the early days after the October 7, 2023, the previous attacks launched by Israel on Iran in April and October 2024 degraded Iran's ballistic and surface-to-air missiles and air defense radar Israeli PM Benjamin Netanyahu has stated that his country would continue its airstrikes 'for as many days as it takes,' there are indications that Trump is still holding open the possibility of some kind of deal with Israel's attack against Iran, he warned Tehran that if it didn't come back to the table and cut a deal, the next attack would be 'even more brutal.' The attack could possibly push Iran into reengaging in the other hand, the killing of Iranian nuclear scientists and the apparent stalling of the Sunday negotiators may convince Tehran to intensify its efforts towards a nuclear weapon as the only means of deterrence against Israel.
Time of India
5 hours ago
- Time of India
Centre defers QCO on textile machinery to 2026
Surat: The ministry of heavy industries, Govt of India, has extended the implementation of the Quality Control Order (QCO) on textile machinery to Sept 2026. The QCO was earlier scheduled to be enforced from August 2025, but various industry stakeholders, including textile manufacturers, had raised concerns. On August 28, 2024, the ministry had issued the Machinery and Electrical Equipment Safety (Omnibus Technical Regulation) Order 2024, making the QCO mandatory for weaving and embroidery machines, including their assemblies and sub-assemblies. The Southern Gujarat Chamber of Commerce and Industry (SGCCI), under the leadership of its immediate past president Vijay Mevawala, had made several representations to the Centre. "This will benefit the industry, and the growth cycle will continue in the textile sector in the region. We thank the govt for considering trade and industry's viewpoint," said Mevawala. SGCCI president Nikhil Madrasi added, "This decision enables Indian manufacturers to produce high-speed weaving and embroidery machinery on par with imported ones, furthering the ' Make in India ' vision." Recently, SGCCI vice-president Ashok Jirawala, former president Ashish Gujarati and other industrial bodies met Union minister for heavy industries HD Kumaraswamy in New Delhi to urge deferment of the QCO. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Dividend Stocks for May 2025 Seeking Alpha Read Now Undo They argued that Surat, the country's largest MMF textile hub, annually imports 2,500 to 4,000 high-speed weaving and embroidery machines, many of which are not yet made domestically. Given that MMF continues to dominate textile investments — particularly in waterjet, airjet, and rapier machines — the industry had sought time until domestic manufacturing capacity matched import quality. The Centre's latest decision comes as a major relief for the sector. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Time of India
6 hours ago
- Time of India
UK moving assets, jets, to Middle East amid Iran crisis
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Britain is deploying assets, including fighter jets, to the Middle East amid tensions between Iran and Israel, UK Prime Minister Keir Starmer said Saturday heading to Canada for G7 talks."We are moving assets to the region, including jets, and that is for contingency support," Starmer told reporters travelling with him on his plane to UK leader said he had spoken with both US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu since Israel launched its first attacks on Iran early Friday, hitting military and nuclear to officials, dozens have been killed including top army and Revolutionary Guards commanders as well as has responded with barrages of drones and missiles fired at Israel overnight Friday into said the situation was "fast moving" as well as "intense"."We're having ongoing discussions with our allies all of the time, both myself and (foreign minister) David Lammy... who also spoke to the Iranians," he said."Our constant message is de-escalate, and therefore everything we're doing, all discussions we're having are to do with de-escalation."The UK leader said his talk on Friday with Netanyahu had been "good and constructive" and had "included discussions about the safety and security of Israel".Foreign Secretary Lammy said earlier Saturday that he was "alarmed" by further strikes overnight."We must urgently de-escalate & prevent any further harm to civilians," Lammy said in a post to social media, adding he had spoken to his Iranian counterpart Abbas Araghchi "to urge calm".
