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Business Standard
06-08-2025
- Business
- Business Standard
India must seek carbon safeguards for small firms in FTA talks with EU
The EU is India's second-largest export market. India exported $70 billion worth of merchandise to the EU in 2023, out of which CBAM-covered commodities were worth $7.3 billion Rajeev Kher Anshuman Gupta Listen to This Article The Carbon Border Adjustment Mechanism (CBAM) of the European Union (EU) was notified primarily to prevent carbon leakage and provide a level playing field for domestic (European) producers. Initially, the most energy-intensive sectors — such as iron and steel, aluminium, cement, fertilisers, electricity, and hydrogen — have been covered by the scheme. Other sectors will be included over time. The CBAM will become operational from January 2026. The EU is India's second-largest export market. India exported $70 billion worth of merchandise to the EU in 2023, out of which CBAM-covered commodities were worth $7.3 billion, amounting to 10.5 per cent
Time of India
24-07-2025
- Business
- Time of India
India-UK FTA a boost for MNCs looking at China+1
New Delhi: The free trade agreement (FTA) with the UK can potentially boost investment inflows into India by multinational companies pursuing supply chain diversification away from China, apart from encouraging domestic firms to add capacity in a broad range of sectors, experts said on Thursday. Moreover, the duty-free access to products from key labour-intensive sectors-including textiles & garments, gems & jewellery, leather, farm and processed food and marine-would help create jobs, they said. Even capital-intensive industries, including engineering goods, pharma and clean energy, could get a fillip, they added. Explore courses from Top Institutes in Please select course: Select a Course Category MCA Cybersecurity Operations Management Leadership Finance Project Management others Others healthcare Data Science Public Policy Healthcare Technology CXO Degree MBA Design Thinking Management Artificial Intelligence PGDM Digital Marketing Data Science Product Management Skills you'll gain: Programming Proficiency Data Handling & Analysis Cybersecurity Awareness & Skills Artificial Intelligence & Machine Learning Duration: 24 Months Vellore Institute of Technology VIT Master of Computer Applications Starts on Aug 14, 2024 Get Details The UK, a gateway to Europe, promises duty-free access to 99% of Indian goods. This creates big scope for global companies to bolster their presence in a cost-effective market like India and take advantage of the duty-free access to the UK market and explore better integration with the European market in this process, some experts said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Game That Keeps You Hooked, Try It Forge Of Empires Play Now Undo The experts, however, await the agreement's fine print on the give-and-take to gauge the precise gains that could accrue to India on the investment front. "FTA is a tool for integration. The economies of the two countries are already integrated but there is a fair amount of potential for further integration," former commerce secretary Rajeev Kher told ET. This creates scope for investments, he said. Live Events Kher added that once an investment agreement, which is being negotiated with the UK separately, is adopted, there would be greater clarity on investment flows. Nagesh Kumar, CEO at Institute for Studies in Industrial Development and a member of the central bank's monetary policy committee, said: "I expect the investments to increase because the preferential access to the UK market will attract those entities that are seriously pursuing a 'China+one strategy' and are diversifying their supply chains".
Time of India
23-04-2025
- Business
- Time of India
Passenger flow, trade come to a halt as govt shuts Attari
NEW DELHI: Govt's decision to close the Attari border is set to significantly impact cross-border movement - halting passenger travel and bringing an end to the limited trade that was still taking place via the land route. Tired of too many ads? go ad free now According to data on the Land Port Authority of India website, during 2022-23, over 70,000 passengers moved through the Attari-Wagah border, while nearly 7,000 consignments, valued at around Rs 3,900 crore, flowed in and out of the country. Soyabean, chicken feed, red chillies, vegetables and plastic yarn and dana (granules) were among the items shipped to Pakistan through the route, according to the website, while dry fruits, gypsum, cement, glass, rock salt and herbs came into India, some of which also arrived from Afghanistan. Former commerce secretary Rajeev Kher said govt's decision is a demonstration of its intent to stop flows and will have an impact on the people in Pakistan who depend on Indian products. "At this point, there is little trade from Attari. Officially Pakistan has closed trade with India. However, there is a trade of around $1billion with Pakistan and a minuscule quantity of imports of around $30 million but the trade from Attari has largely remained closed," said director general at Research and Information System for Developing Countries, adding that there was a need to show a tough stand. Pakistan has been advocating trade through the land route and some in India too were demanding more liberal rules. A few days ago, Shiromani Akali Dal workers also clashed with Border Security Force personnel near the Attari Integrated Check Post, demanding reopening of the border for trade. India's response after the Pahalgam carnage is seen as a signal that trade and people's relations can only be normalised if Pakistan stopped sponsoring terror. Post the Pulwama attacks in February 2019, the Union govt had withdrawn the most-favoured nation granted to Pakistan and raised import duty to 200% on goods from Pakistan across the border.
