The visit of Union minister of commerce and industry Piyush Goyal to Paris and Rome on 11-13 April has come at a crucial moment. India currently holds the G20 presidency and has successfully completed its fourth round of negotiations with the EU for a free trade agreement (FTA). India’s trade with Italy and France has seen an upward trend after a dip during the covid pandemic. Bilateral merchandise trade between India and Italy was $13.23 billion in 2021-22, while the India-France bilateral trade in goods (excluding military equipment) was only a little less that year, at $12.42 billion. Top exports from India to Italy included iron and steel, products made of these, aluminium and its products, petroleum products and cotton ready-made garments. Our top exports to France were petroleum products, electric machinery and equipment, drug formulations, cotton ready-made garments (including accessories) and aircraft, spacecraft and parts. India had a positive trade balance in goods with both these European countries. In the services sector, the India-Italy bilateral trade was $952 million in 2020-21, while that with France was $4.63 billion. India’s services exports to the two markets include telecommunication services, IT and IT-enabled services, business services and transport services.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Quick Edit: The market's green role
The world needs to bend its rising curve of carbon emissions, a goal that's proving elusive. Adding to the challenge, US climate policy is likely to flip back into neglect mode next year.
Growth shouldn't suffer for want of a market fix
Packaged food companies should drive a food-processing revolution and run a campaign for substitution of fresh-veggie demand. It'll crush price volatility and open up space for rate cuts
We should reform import tariffs to boost Make in India!
Tariff reforms to resolve duty inversions can arrest the 'cost competitiveness leak' of Indian manufacturing
Trying to quantify everything may worsen human decisions
'Quantification fixation' is real—and we should learn to resist it
Hope has sprung anew amid the thick haze hovering over COP-29
The climate summit has seen rules being ratified for a carbon market, progress on finance and high corporate participation
Trump's return is set to send the world scouting for fresh options
His confrontational stand on issues will ruffle feathers and make nations review their alignments
Why national pride has not helped clean up Delhi's air
A sense of shame was expected to get it done. That hasn't worked. Do we lack the will and talent?
SEBI CAN DO MORE TO DISSUADE RETAIL F&O SPECULATION
A recent Securities and Exchange Board of India (Sebi) report highlighted the significant losses individual traders have incurred in the equity futures and options (F&O) segment between FY22 and FY24.
Is filing ITR in old regime still valid?
I am with the Indian Army. Until last year, we received Form 16 under the old tax regime, including allowances such as HRA, travel and uniform.
Avoid common mistakes in NRO, NRE accounts: A guide for NRIs
Tips on using NRE and NRO accounts to effectively manage funds, repatriate money and remain tax-compliant
