Search Result for : Pta

The Dollar Business Bureau Commerce Secretary, Rita Teaotia had led an official and a business delegation to Ecuador and Colombia from 16th to 19th May. The Commerce Secy’s visit to Ecuador could in many ways reveal India’s keenness to further its interests in the country. The Indian side had representatives from Pharma, IT, Auto, Mining & Construction, Bio Fuels, Agro-Chemicals, Iron & Steel and Textiles and representatives from FICCI accompanying the Secretary. Ecuador though a tiny country holds many promises through its natural resources. It has gold reserves of 2,25,000 tons, silver reserves of 12,500 tons and as per an OPEC official release, its total share of OPEC production in crude is 1.7% and as per Jan 2017 stats, has produced 536.00K barrels ...

The Dollar Business Bureau A milestone trade agreement between India and Chile which was approved by the Indian Cabinet on September 6, 2016 will be effected from May 16, 2017. The expanded PTA will benefit both the countries in several ways, as a wide variety of concessions has been agreed upon on a number of tariff lines by both the sides. "The expanded PTA has a wider coverage. This would facilitate exporters of both sides to take the advantage of tariff concessions as per the expanded PTA immediately which covers around 96 percent of bilateral trade." A Preferential Trade Agreement (PTA) which was signed on March 8, 2006, came into force in 2007. "The original PTA had a limited number of tariff lines, wherein both ...

The Dollar Business Bureau  Nirmala Sitharaman and her Brazilian counterpart Marcos Pereira, who is in India to participate in the BRICS summit held bilateral talks on 13th October 2016. The Brazilian minister Marcos expressed pleasure on the Investment Facilitation Treaty being initialed between India and Brazil at Goa and also mentioned that this was Brazil’s first in Asia and was glad that it is happening with India. The Investment Facilitation Treaty between the two countries is to encourage more Indian investment in Brazil and to create a legal framework to the business. Both the Ministers expressed the need to strengthen the India-MERCOSUR PTA and expand the items on offer from both sides to at least 2500 from the current 450 as this would ...

The Dollar Business Bureau  India and the Latin American countries (LAC), including Brazil and Peru, are increasing their engagement and discussing ways like signing free trade agreement (FTA) to further enhance trade and investments.   India has signed a pact with Chile in September this year on the expansion of preferential trade agreement (PTA).  “The expanded PTA will have far greater trade coverage in comparison to the agreement signed earlier in March as both sides have offered tariff concessions on a number of lines, the Ministry of Commerce said in a statement.  In order to explore the possibility of a free trade agreement with Peru, India has just finished a joint study group report and both the countries have agreed to a timeline to carry it forward.  “With ...

The Dollar Business Bureau Signing a Preferential Trade Agreement (PTA) with Iran can fill up the demand gap for Indian exporters in several other economies, said the Associated Chamber of Commerce and Industry (ASSOCHAM). “India-Iran PTA will help India expand the volume of exports to Iran, particularly of pharmaceuticals, iron and steel, auto components. Also Iran could serve as an outlet for Indian goods to countries in Central Asia and Afghanistan,” the industry body said in a study. It said that with the US spearheading the regime of easy relations lifting sanctions on Iran, this is the right time for India to engage in trade pact with Iran. In 2014-15, Iran’s trade with India was around $13 billion and it was more ...

The Dollar Business Bureau Yet another investigation is initiated for the anti-dumping concerning imports of Purified Terephthalic Acid (PTA) that are originating in or are exported from China PR, Iran, Indonesia, Malaysia & Taiwan. MCC PTA India Corp. Pvt. Ltd., and Reliance Industries Limited have jointly filed an application before the designated authority of Directorate General of Anti-Dumping & Allied Duties for initiating the anti-dumping investigation. The usual process of the filing has seen its success as the authorities have found a prima-facie evidence of the dumping of the ‘subject goods’ originating from ‘subject countries’ to the domestic industry. The decision has been taken to initiate the investigation into alleged dumping and the consequent injury to the domestic industry, so that ...

Sai Nikesh | The Dollar Business The Indian exporters of basmati rice may expect good days ahead in the upcoming financial year that is going to start from April 2015. According to latest reports, the Government of Iran is likely to restart importing of India’s basmati rice in the new financial year, opening its doors for India after a temporary stoppage since October 2014. This supposed move by the Government of Iran was eagerly awaited by Indian exporters’ associations like Federation of Indian Exporters Organisation (FIEO), Agricultural and Processed Food Products Export Development Authority (APEDA), among others. Even though the Indian import permits had to face brief break since October 2014, Iran continued to execute existing and past orders ...