Rebooting the Economy

The Minister of State for Micro, Small, and Medium Enterprises (MSMEs), Pratap Chandra Sarangi, recently said it is crucial for the MSMEs to integrate with the global value chains. Since the businesses may face many challenges in this regard, experts believe collective efforts must be taken to strengthen the sector locally to enable their penetration and help them reach the global footing. Speaking of competing on the international front, the Federation of Indian Exports Organisation (FIEO) claimed that building strategic relationships with key markets like the US, UK. European Union, Australia, Canada, Israel, to name a few, will give rise to significant growth in India’s exports and also help attract foreign investments in the country. That being said, the Commerce Ministry is ready to kick-off its consultation process for the Free Trade Agreement with the UK.

Besides this, Union Finance Minister Nirmala Sitharam announced eight economic relief measures worth Rs 6.29 lakh crore in the wake of the second wave of the covid-19 pandemic. From acknowledging the impact on travel and tourism, to loan guarantees, an extension of already existing schemes, and a fresh outlay of funds, the steps aim to provide aid to the covid affected sectors. We hope that these measures come to the rescue of those in need.

MSME Need To Integrate With Global Value Chains: Union Minister

MSMEs need to understand the importance of integration with global value chains which are driving the trade currently, Union minister Pratap Chandra Sarangi said on Saturday.

FTAs with key nations will boost exports, attract more investments: FIEO

Inking free trade agreements (FTAs) will India’s major trading partners such as the United States, United Kingdom, European Union, Australia, New Zealand, Canada, Israel, among others, will boost exports and help in attracting more foreign investments into the country, Federation of Indian Exports Organisation (FIEO) said on Monday.

Nirmala Sitharaman LIVE: FM brings job benefits, easier loans, tourism booster in new economic relief measures

Union Finance Minister Nirmala Sithraman today announced 8 economic relief measures to help tide over the economic impact of the covid-19 pandemic. The finance minister announced job benefits, extending the Atmanirbhar Bharat Rozgar Yojana and loan guarantees for covid-affected sectors such as tourism. Further, measures have been announced relating to NERAMC, Digital India, and PMGKY.

Exporters body wants more ‘aggressive’ marketing initiatives in trade policy

Exporters want the government to enhance allocation for marketing initiatives in the five-year Foreign Trade Policy (FTP) likely to be announced in October.

More mills look to export rice to China

As China steps up rice purchases from India, more mills are keen to export the cereal to the neighbouring country. China in 2018 had allowed only 24 Indian rice mills to ship the cereal after certifying their plants and processing facility.