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Hans India
17 hours ago
- Business
- Hans India
ASEAN nations contribute 11 pc in India's global trade: Ministry
New Delhi: ASEAN remains a key trade partner for India, accounting for around 11 per cent of the country's global trade, the Ministry of Commerce and Industry said on Friday. Bilateral trade between India and the ten ASEAN member nations reached an impressive USD 123 billion in 2024-25, underscoring the deep economic linkages and the vast potential for future collaboration. India hosted the 10th Meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee and related meetings at Vanijya Bhawan, New Delhi, from August 10 to 14. Delegates from all ten ASEAN countries - Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam - took part in the discussions, which focused on reviewing and modernising the AITIGA. The meeting aimed to make the agreement more effective, more accessible, and better equipped to facilitate trade in an evolving global economy. Building on the momentum from eight rounds of negotiations already completed, the Joint Committee explored ways to streamline procedures, remove bottlenecks, and align regulations. The high-level meeting, conducted in a hybrid format, brought together senior officials and trade experts from across the region. Alongside the main sessions, seven of the eight AITIGA Sub-Committees convened to dive deeper into specialised areas, including customs procedures, market access, sanitary and phytosanitary measures, rules of origin, technical standards, legal frameworks, and trade remedies. According to the Ministry, these targeted meetings allowed for intensive work on complex issues, ensuring that any updates to AITIGA will reflect both technical rigour and the shared vision of member nations. The week-long deliberations reaffirmed the strategic importance of ASEAN-India economic relations and laid the groundwork for more open, predictable, and mutually beneficial trade. The dialogue will continue when the Joint Committee meets again on October 6-7, 2025, at the ASEAN Secretariat in Jakarta, Indonesia, in a session hosted by Malaysia, the ministry said. The sessions were co-chaired by Nitin Kumar Yadav, Additional Secretary in India's Department of Commerce, and Mastura Ahmad Mustafa, Deputy Secretary General (Trade) at Malaysia's Ministry of Investment, Trade & Industry.
News18
18 hours ago
- Business
- News18
India hosts 10th AITIGA review meeting in New Delhi
New Delhi [India], August 15 (ANI): India hosted the 10th Meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee and related sessions at Vanijya Bhawan, New Delhi, from August 10 to 14, 2025, according to a Ministry of Commerce and Industry statement. The gathering brought together delegates from all ten ASEAN member states to push forward the review of the 14-year-old trade meetings, held in a hybrid format, were co-chaired by Nitin Kumar Yadav, Additional Secretary, Department of Commerce, Ministry of Commerce and Industry, Government of India, and Mastura Ahmad Mustafa, Deputy Secretary General (Trade), Ministry of Investment, Trade & Industry, Malaysia. Representatives from Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam the heart of the discussions was the ongoing review of AITIGA, aimed at improving its effectiveness, accessibility, and trade facilitation capabilities. This review builds on the progress from eight previous rounds of of the eight sub-committees under the AITIGA joint committee also convened alongside the main meeting. These included the sub-committee on Customs Procedures and Trade Facilitation (SC-CPTF), Legal and Institutional Issues (SC-LII), National Treatment and Market Access (SC-NTMA), Sanitary and Phytosanitary (SC-SPS), Rules of Origin (SC-ROO), Standards, Technical Regulations and Conformity Assessment Procedures (SC-STRACAP), and Trade Remedies (SC-TR). Their deliberations addressed technical issues ranging from product standards to customs processes, forming the groundwork for the main committee's continues to be a major trade partner for India, accounting for roughly 11 per cent of the country's global trade. Bilateral trade between India and ASEAN stood at USD 123 billion in 2024-25, underlining the scale and potential of the next AITIGA Joint Committee meeting is set for October 6-7, 2025, at the ASEAN Secretariat in Jakarta, Indonesia, with Malaysia as host. The outcomes of the New Delhi talks will form the basis for the next phase of negotiations. (ANI)
Mint
30-04-2025
- Business
- Mint
Stocks to watch: Bajaj Finance, Vedanta, Adani Power, SBI among shares in focus today
Vedanta, Adani Power, IOC, and Varun Beverages will be in focus today as they are set to release their fourth-quarter earnings. India's leading non-banking financial company, Bajaj Finance, on Tuesday proposed a 4:1 bonus share issuance. Additionally, its fourth-quarter profit increased by 19% year-on-year to ₹ 4,546 crore. Bajaj Finserv reported a 14% increase in its net profit for Q4FY25, reaching ₹ 2,417 crore compared to ₹ 2,119 crore in the same quarter last year. Bharat Petroleum Corporation Ltd (BPCL) posted a consolidated net profit of ₹ 4,392 crore for the March quarter, marking an 8% year-on-year decrease compared to ₹ 4,790 crore in the same period last year. Shares of private lender IndusInd Bank are likely to come under significant pressure on Wednesday following the resignation of CEO Sumanth Katpalia, who stepped down citing moral responsibility for accounting irregularities in the bank's derivatives portfolio. The Board is scheduled to meet on May 3 to discuss raising equity in FY26 through various options such as a follow-on public offer (FPO), rights issue, qualified institutional placement (QIP), or other methods. The meeting will also include a review of the March quarter and FY25 financial results. IndiaMart reported a 49% rise in net profit to ₹ 181 crore, while its operating revenue saw a slight increase to ₹ 355 crore. The company has secured clearance from the Real Estate Regulatory Authority (RERA) and officially launched its residential project, 'The Prestige City – Indirapuram', in the National Capital Region (NCR). The project's gross development value (GDV) is projected to exceed ₹ 9,000 crore. Nitin Kumar Yadav, IAS, Joint Secretary in the Department of Commerce, has been given additional charge as Chairman and Managing Director (CMD) on the company's Board for a one-year term, starting April 29. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions. First Published: 30 Apr 2025, 07:31 AM IST
