Germany's proposed low emission steel standard may pose challenges to Indian industry: GTRI - Exportify Pulse Edition- August 12,2024
Germany's proposed low emission steel standard may pose challenges to Indian industry: GTRI
Germany's proposed Low Emission Steel Standard (LESS) is expected to pose new challenges to Indian industry which is already reeling with lower exports, higher imports and Europe's carbon tax, think tank GTRI said on Friday.
India's steel exports have dropped by 31.2 per cent from USD 31.7 billion in 2021-22 to USD 21.8 billion in 2023-24, while imports have increased by 37 per cent, from USD 17.3 billion to USD 23.7 billion, making India a net importer, it said.
The Global Trade Research Initiative (GTRI) said that the Indian steel industry is not legally bound to follow the new German steel standard, but ignoring it could hurt domestic exports.
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India's import of pulses may fall to 40-45 lakh tons in FY25, from 47.38 lakh tons in FY24: Industry
India's import of pulses may decline to 40-45 lakh tonnes this fiscal from 47.38 lakh tonnes in the previous year, as a good monsoon is likely to result in higher domestic production and lower retail prices, industry body IPGA Chairman Bimal Kothari said on Friday.
India Pulses & Grains Association (IPGA) also demanded that the government should frame a long-term policy for the Rs 2.5 lakh crore pulses market, as frequent changes in policies hurt the interest of all stakeholders. It also demanded imposition of import duties on yellow peas.
"Pulses imports are likely to be 40-45 lakh tonnes this fiscal," Kothari told reporters at 'Bharat Dalhan Seminar 2024' being held here in the national capital.
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Toys exports dip due to fall in global demand: Jitin Prasada
The government on Friday said India's toy exports dipped from USD 177 million in 2021-22 to USD 152 million in 2023-24 due to overall decline in the global demand of these products. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada said that India's key export markets including the USA, UK and Germany have also registered decline in toys imports by 16-20 per cent.
"The decline in India's exports of toys from USD 177 million in 2021-22 to USD 152 million in 2023-24 is due to overall decline in global demand of toys," he said.
He added that the various initiatives of the government together with the endeavours of the domestic manufacturers have resulted in remarkable growth of the Indian toy industry.
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Indo-Bangla trade resumes from Petrapole land port amid tight security
Trade between India and Bangladesh through Petrapole land port in West Bengal, resumed Thursday morning amid tight security, officials said. The two South Asian neighbours' trade came to a halt on August 5 following the fall of the Sheikh Hasina government in Bangladesh and it partially resumed on Wednesday through several land ports in West Bengal, except Petrapole.
Bilateral trade via Petrapole is the highest among all land ports shared with Bangladesh.
"Trade began from Petrapole since morning. There was a meeting yesterday with stakeholders from both countries to resolve the stalemate," an official said, declining to be quoted.
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