Key Points
India will ensure that the guiding principles of the World Trade Organisation are maintained at the Abu Dhabi meeting next week, union commerce and industry minister Piyush Goyal said on Friday...
The country will also raise the issue of the European Union's Carbon Border Adjustment Mechanism (CBAM) at the WTO and bilaterally with the EU, Goyal said at the Raisina Dialogue 2024 here.. "There are attempts to include issues in the WTO that are not part of world trade, and India will try to ensure that the guiding principles of WTO are maintained," he said.. Delegates from 164 countries will discuss agriculture, fisheries and the moratorium on imposing customs duty on ecommerce trade among other issues at the 13th WTO Ministerial Conference (MC13) in Abu Dhabi from February 26 to 29...
"WTO is important for a fair and robust multilateral trading system," Goyal said, noting that the intergovernmental organisation needs to be made stronger with reforms...
"The implementation of CBAM is poised to have an adverse effect on the economic performance of enterprises operating within India's energy-intensive and trade-exposed (EITE) industries," research organisation CSEP highlighted in a working paper, assessing a 2.9% reduction in export earnings for steel and iron industry last year...
You might be interested in
Where's India? Key holdout country's minister absent from WTO meeting
27, Feb, 24India's Commerce Minister, Piyush Goyal, was absent at the start of a major World Trade Organization (WTO) meeting in Abu Dhabi, causing concerns about the impact on discussions. Goyal is a key player in the trade negotiations focusing on fisheries and digital trade tariffs. However, WTO Director-General Ngozi Okonjo-Iweala stated that Goyal's participation delay was due to mistiming, and he would join the conference later.
Will address EU’s carbon tax, retaliate if needed: Piyush Goyal
08, Dec, 23Under the EUs Carbon Border Adjustment Mechanism (CBAM), non-EU steel producers are required to report direct and indirect emissions. The monitoring of such products began October 1.
India, E.U. Discuss E.U. Carbon Border Tax in Brussels
17, May, 23India and the E.U. are working to resolve a looming issue in their trade relationship — the E.U.’s Carbon Border Adjustment Mechanism (CBAM), with the two sides discussing it during a Minister-level meeting in Brussels
India retains full policy space for benefit of farmers, fishermen at WTO: Piyush Goyal
02, Mar, 24The talks at the WTO's ministerial conference ended with no decision on issues such as finding a permanent solution to public food stockpile and on curbing fisheries subsidies, but the members agreed to further extend the moratorium on imposing import duties on e-commerce trade for two more years.
Few 'ticklist' issues to resolve for India-UK free trade agreement: Piyush Goyal
08, Jan, 24Commerce Minister Piyush Goyal has confirmed that only a 'few ticklist issues' are left needs to be sorted out in the India-UK free-trade agreement (FTA). According to the government, India-UK free trade agreement talks completed 13 rounds of negotiations that took place from 18 September to 15 December. The fourteenth round of negotiations are expected to begin this month.
India-UAE start Rupee-Dirham direct trade: Piyush Goyal
10, Jan, 24Commerce and industry minister Piyush Goyal said that there is significant traction in the idea to connect India and Europe through the Middle East through the India-Middle East- Europe corridor and that both countries are expanding partnership new areas such as the startup bridge and the Bharat Bazar which DP World is developing in the UAE.
International trade in rupee currency soon: Piyush Goyal
22, Apr, 23Commerce and Industry Minister Piyush Goyal on Saturday expressed hope that traders will soon be able to settle foreign trade in the rupee currency
India actively considering CEPAs, FTAs to boost textile exports: Piyush Goyal
27, Jun, 23Union Minister Piyush Goyal on Monday said India is actively considering entering into free trade pacts and comprehensive economic partnership agreements to tap new markets, increase exports and create opportunities for the domestic textile industry. The Minister of Textiles highlighted that the Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Park is being established across 7 states to promote India's textile sector in a significant manner.
India’s commerce minister to visit Canada, hold talks on trade pact
02, May, 23Piyush Goyal is scheduled to be meet his Canadian counterpart Mary Ng. The visit is likely to give impetus to the ongoing negotiations for an Early Progress Trade Agreement | World News
WTO talks enter fifth day amid hectic parleys to break impasse over agri, fisheries issues
01, Mar, 24Abu Dhabi, Feb 29 (PTI) WTO ministerial meeting has been extended by a day amid hectic parleys to bridge differences between developed and emerging economies on issues such as agriculture, fisheries subsidies, and e-commerce moratorium. According to a communication by the multilateral trade body World Trade Organisation, the closing session of the four-day talks is […]