Latest news with #MinistryofCommerce&Industry
India Gazette
3 days ago
- Business
- India Gazette
First round of India-Chile CEPA negotiation concludes in Delhi
New Delhi [India], May 30 (ANI): In furtherance of the commitment made during the high-level dialogue between India and Chile, the Terms of Reference for negotiating the India-Chile Comprehensive Economic Partnership Agreement (CEPA) were signed on May 8, 2025. According to a release from the Ministry of Commerce & Industry, the first round of negotiations commenced on May 26, 2025, with the Opening Ceremony inaugurated by Commerce Secretary Sunil Barthwal in the presence of the Ambassador of Chile to India, HE Juan Angulo. During the inauguration, Barthwal emphasised that the agreement would pave the way for a deeper economic partnership and the creation of strengthened global value chains between the two countries. The next round of negotiations is expected in July/August 2025 and will be preceded by intersessional discussions through virtual conferences to address outstanding issues before the upcoming meeting. The launch of the CEPA negotiations was welcomed by both nations during the State Visit of the President of Chile, HE Gabriel Boric Font, to India in April 2025 and his meeting with the Hon'ble Prime Minister of India, Narendra Modi. President Boric conveyed that India is a priority partner for Chile in the global economy and highlighted the need to explore strategies for enhanced and diversified trade between the two countries. Both leaders welcomed the initiation of negotiations towards a balanced, ambitious, comprehensive, and mutually beneficial CEPA aimed at achieving deeper economic integration. The Chilean negotiating team, comprising 17 delegates, was led by Chief Negotiator Pablo Urria, Director for Asia & Oceanic at the Secretariat of International Economic Relations, Ministry of Foreign Affairs of Chile. The Indian delegation was headed by Chief Negotiator Vimal Anand, Joint Secretary, Department of Commerce. Discussions during the round were held across 17 thematic tracks including: Trade in Goods, Trade in Services, Movement of Natural Persons, Rules of Origin, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, Customs Procedures and Trade Facilitation, Initial Provisions and General Definitions, Core and Institutional Provisions, Final Provisions, Transparency, Dispute Settlement, Economic Cooperation, MSMEs, Women's Economic Empowerment, Critical and Strategic Minerals Trade & Sustainable Development, Global Value Chains, Investment Promotion & Cooperation, and Intellectual Property Rights. The CEPA aims to unlock the full potential of the trade and commercial relationship between India and Chile, boosting employment, bilateral trade, and economic growth. The modalities of negotiation will emerge through stakeholder consultations and industry feedback. Both sides are committed to a gainful and explorative approach to ensure a successful and meaningful agreement. (ANI)
Business Standard
3 days ago
- Business
- Business Standard
India can spearhead a new era of resilient, equitable, and sustainable commerce: Rajesh Agrawal, Ministry of Commerce & Industry
India is uniquely poised as a trusted global partner, a large and growing market, and a capable producer to lead the effort in building resilient, reliable, and diversified supply chains for the world. This is the time for India, and we must seize the opportunity" stated Mr Rajesh Agrawal, Special Secretary, Ministry of Commerce & Industry, Government of India at the Annual General Meeting and Annual Business Summit 2025. Mr Agrawal further stated that trade and geopolitics have historically been intertwined, but the emerging global disorder marked by over-concentrated supply chains, rising unpredictability, and the weaponization of markets is compelling businesses to rethink resilience and diversification. In this context, he underscored Indias unique value proposition as both a trusted partner and a growing market economy. Mr Agrawal highlighted that Indias democratic institutions, strategic autonomy, and rising credibility have positioned it as a reliable anchor amidst global turbulence. As the world looks to de-risk supply chains, India offers a compelling alternative, not just as a manufacturing hub, but as a long-term partner for innovation, investment, and inclusive growth. Indias ability to lead the next phase of global trade lies in its capacity to adapt, innovate, and deliver at scale. With the right policy support and industry commitment, the country can spearhead a new era of resilient, equitable, and sustainable commerce. He urged Indian industry to step up and build future-ready capacities that align with global needs, underscoring the private sectors critical role in realising the vision of Viksit Bharat @2047.
Business Standard
21-05-2025
- Business
- Business Standard
DPIIT extends implementation timeline for Safety of Household, Commercial and Similar Electrical Appliances (Quality Control) Order, 2025
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, has extended the implementation timeline for the Safety of Household, Commercial and Similar Electrical Appliances (Quality Control) Order, 2025. The decision follows stakeholder consultations chaired by Union Minister of Commerce and Industry Piyush Goyal on 15th May 2025. Taking cognizance of industry concerns regarding implementation challenges and legacy stock, the DPIIT has notified the revised Quality Control Order on 19th May 2025. To enable ease of doing business, the QCO will now come into force from 19th March 2026 for domestic large and medium enterprises as well as for foreign manufacturers. The QCO applies to all electrical appliances intended for household, commercial, or similar applications with rated voltage not exceeding 250V for single-phase appliances and 480V for others, including DC-supplied and battery-operated appliances. Appliances already covered under separate QCOs or existing mandatory BIS certification requirements are excluded from its ambit. DPIIT has been actively notifying Quality Control Orders (QCOs) to enhance manufacturing standards and bolster the global reputation of 'Made in India' products. These efforts are complemented by the development of testing infrastructure, product manuals, and accreditation of testing laboratories.
Business Standard
21-05-2025
- Business
- Business Standard
Barometers trade higher; realty shares climb over 2%
The key equity benchmarks continued to trade with major gains in mid-morning trade, supported by sustained buying interest. The Nifty traded above the 24,850 mark. Investors remain focused on global cues and Q4 earnings announcements. Realty shares rallied after declining in the past trading session. At 11:25 IST, the barometer index, the S&P BSE Sensex added 615.57 points or 0.76% to 81,817.74. The Nifty 50 index rallied 200.70 points or 0.82% to 24,885.90. In the broader market, the S&P BSE Mid-Cap index added 0.86% and the S&P BSE Small-Cap index jumped 0.45%. The market breadth was strong. On the BSE, 2,251 shares rose and 1,423 shares fell. A total of 171 shares were unchanged. Economy: India's infrastructure output, which tracks activity across eight sectors and makes up 40% of the country's industrial production, grew at 0.5% annually in April as against 4.6% in March, data from Ministry of Commerce & Industry showed on Tuesday. The Index of eight Core Industries is the measure of combined and individual performance of production of eight core industries: Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. India's retail inflation for farm as well as rural workers eased marginally to 3.48% and 3.53%, respectively, in April this year compared to the pace of price hikes for the two categories at 3.73% and 3.86% recorded in March. The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) increased by 1 point each in April 2025 to stand at 1307 and 1320 points, respectively. The CPI-AL and CPI-RL were 1306 points and 1319 points, respectively, in March. IPO Update: The initial public offer of Belrise Industries received bids for 1,87,14,176 shares as against 17,70,58,824 shares on offer, according to stock exchange data at 11:15 IST on 21 May 2025. The issue was subscribed 0.11 times. The issue opened for bidding on 21 May 2025 and it will close on 23 May 2025. The price band of the IPO is fixed between Rs 85 and 90 per share. An investor can bid for a minimum of 166 equity shares and in multiples thereof. The initial public offer of Borana Weaves received bids for 5,89,83,891 shares as against 36,89,457 shares on offer, according to stock exchange data at 11:51 IST on 21 May 2025. The issue was subscribed 15.99 times. The issue opened for bidding on 20 May 2025 and it will close on 22 May 2025. The price band of the IPO is fixed between Rs 205 and 216 per share. An investor can bid for a minimum of 69 equity shares and in multiples thereof. Buzzing Index: The Nifty Realty index rallied 2.21% to 943.20. The index declined 1.11% in the past trading session. Raymond (up 3.88%), Macrotech Developers (up 2.67%), Phoenix Mills (up 2.51%), Oberoi Realty (up 2.25%), DLF (up 1.86%), Prestige Estates Projects (up 1.58%), Godrej Properties (up 1.45%), Anant Raj (up 1.4%) and Sobha (up 0.4%) advanced. Stocks in Spotlight: Ircon International added 0.96% after the company has secured a work order worth Rs 253.56 crore from South Western Railway, a division of Indian Railways. BMW Industries soared 4.19% after the company and its wholly-owned subsidiary, BMW Iron & Steel Industries, bagged an order from Tata Steel totaling Rs 364.69 crore for the conversion of hot rolled (HR) coils into tubes. Global Markets: The US Dow Jones index futures were currently down by 139 points, signaling a weak opening for US stocks today. European markets are expected to open near the flatline on Wednesday, with investors eyeing key earnings reports from M&S, SSE, Currys, and JD Sports. On the data front, U.K. inflation figures for April will also be in focus. Most Asian shares traded higher on Wednesday. The Bank of Indonesias policy decision is expected later in the day. The central bank had cut interest rates in September 2024 and again in January 2025 but has maintained rates at 5.75% since then. In Japan, trade data for April showed a surprise deficit, as exports were impacted by stronger yen levels and increased U.S. trade tariffs. The country posted a trade deficit of 115.8 billion yen ($800 million), compared to a 559.4 billion yen surplus in March. Exports rose 2% year-on-year, a slowdown from 4% in the previous month. Imports declined 2.2% year-on-year, compared to expectations for a 4.5% drop, and contrasted with a 1.8% increase in the prior month. In the United States, the three major indices closed lower on Tuesday. The S&P 500 declined 0.39%, the Nasdaq Composite fell 0.38%, and the Dow Jones Industrial Average lost 0.27%, as investor sentiment weakened. The technology sector fell 0.5%, with declines in major companies including Nvidia (-0.9%), AMD, Meta Platforms, Apple, and Microsoft. Geopolitical tensions weighed on markets following reports that Israel may be planning an attack on Irans nuclear facilities. Oil prices rose on concerns over potential conflict in the Middle East. Additionally, comments from several Federal Reserve officials signaled continued caution regarding economic and trade-related uncertainties. Policymakers indicated that elevated tariffs could contribute to inflation and reiterated a limited scope for near-term interest rate cuts.
Business Standard
21-05-2025
- Business
- Business Standard
Muted opening likely as GIFT Nifty trades marginally lower
GIFT Nifty: GIFT Nifty May 2025 futures were trading 8 points lower in early trade, suggesting a flat-to-negative opening for the Nifty 50. Economy: India's infrastructure output, which tracks activity across eight sectors and makes up 40% of the country's industrial production, grew at 0.5% annually in April as against 4.6% in March, data from Ministry of Commerce & Industry showed on Tuesday. The Index of eight Core Industries is the measure of combined and individual performance of production of eight core industries: Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity. India's retail inflation for farm as well as rural workers eased marginally to 3.48% and 3.53%, respectively, in April this year compared to the pace of price hikes for the two categories at 3.73% and 3.86% recorded in March. The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) increased by 1 point each in April 2025 to stand at 1307 and 1320 points, respectively. The CPI-AL and CPI-RL were 1306 points and 1319 points, respectively, in March. Institutional Flows: Foreign portfolio investors (FPIs) sold shares worth 10,016.10 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 6,738.39 crore in the Indian equity market on 20 May 2025, provisional data showed. According to NSDL data, FPIs have bought shares worth Rs 26091.40 crore in the secondary market during May 2025 (so far). This follows their purchase of shares worth Rs 3243.03 crore in April 2024. Global Markets: The US Dow Jones index futures were currently down by 108 points, signaling a weak opening for US stocks today. Most Asian shares traded higher on Wednesday. The Bank of Indonesias policy decision is expected later in the day. The central bank had cut interest rates in September 2024 and again in January 2025 but has maintained rates at 5.75% since then. In Japan, trade data for April showed a surprise deficit, as exports were impacted by stronger yen levels and increased U.S. trade tariffs. The country posted a trade deficit of 115.8 billion yen ($800 million), compared to a 559.4 billion yen surplus in March. Exports rose 2% year-on-year, a slowdown from 4% in the previous month. Imports declined 2.2% year-on-year, compared to expectations for a 4.5% drop, and contrasted with a 1.8% increase in the prior month. In the United States, the three major indices closed lower on Tuesday. The S&P 500 declined 0.39%, the Nasdaq Composite fell 0.38%, and the Dow Jones Industrial Average lost 0.27%, as investor sentiment weakened. The technology sector fell 0.5%, with declines in major companies including Nvidia (-0.9%), AMD, Meta Platforms, Apple, and Microsoft. Geopolitical tensions weighed on markets following reports that Israel may be planning an attack on Irans nuclear facilities. Oil prices rose on concerns over potential conflict in the Middle East. Additionally, comments from several Federal Reserve officials signaled continued caution regarding economic and trade-related uncertainties. Policymakers indicated that elevated tariffs could contribute to inflation and reiterated a limited scope for near-term interest rate cuts. Domestic Market: Benchmark equity indices ended sharply lower Tuesday, logging a third consecutive session of losses. Investor sentiment took a knock after Moodys downgraded the U.S. governments credit rating from AAA to Aa1, citing concerns over rising debt levels. Adding to the pressure, foreign institutional investors (FIIs) turned net sellers in the previous session, a rare event not seen in over a month. The S&P BSE Sensex, tumbled 872.98 points or 1.06% to 81,186.44. The Nifty 50 index declined 261.55 points or 1.05% to 24,683.90. In the past three trading session the Sensex and Nifty declined 1.63% and 1.51%.
