
Piyush Goyal says FTAs will help services trade
The minister said that India’s services sector has seen 55% growth in just 2 years.
The minister said that India’s services sector has seen 55% growth in just 2 years.
This comes a month after PM Modi and U.A.E. President discussed developing the local currency settlement system between the two countries to settle bilateral trade.
The decline in exports was partially softened by the resilience shown in services exports
The 'R' Club' led by rupee, renminbi, rouble, real, rand, riyal, rupiah & ringgit is posing serious threat to the greenback.
Countries wary of excessive dollar outflows, especially those who run trade deficit with India, have started signing rupee trade settlement deals.
Iron and steel, apparel and clothing accessories were among the goods that did not perform as expected during the last one year.
The rating agency projects imports to contract by 4% in FY24 on the back of healthy growth in FY23, which is estimated to be at 15%.
The government last introduced the Foreign Trade Policy in 2015, which was extended multiple times due to covid-19 impact on the global economy.
The G20 Sherpa talks about the significance of the presidency and how India’s theme, “One Earth, One Family, One Future,” can make a difference.
India has so far concluded 13 FTAs and 6 Preferential Trade Agreements (PTAs).