Competitiveness News - Latest Updates & Headlines
Import curbs on Low Ash Metallurgical Coke raise steel prices in India: GTRI
New Delhi, December 26: The import curbs on Low Ash Metallurgical Coke, which accounts for 35-40% of steel production costs, raise steel prices in India, Global Trade Research Initiative said in a report on Friday.
S. Korea to invest $3.06 billion in securing overseas logistics hubs for exporters
Seoul, Dec 16: The government will invest at least 4.5 trillion won ($3.06 billion) into securing logistics hubs overseas to support export operations of South Korean companies, according to officials on Tuesday.
APEDA Secy calls for better crop quality, higher yields to boost global competitiveness and exports
New Delhi, December 8: India must sharply improve crop quality and raise agricultural productivity to secure better prices in both domestic and should also aim to achieve global competitiveness to ramp up exports, Sudhanshu, Secretary of the Agricultural and Processed Food Products Export Development Authority (APEDA) said on Monday.
India should seek US oil tariff removal before any trade pact: GTRI
New Delhi, November 25: The Global Trade Research Initiative has in its recent report argued that obtaining a US tariff rollback should be India's immediate priority.
Latest Cabinet decisions to ensure global competitiveness, boost self-reliance: PM Modi
New Delhi, Nov 13: Prime Minister Narendra Modi on Thursday said that the latest Union Cabinet decisions will ensure global competitiveness for the Indian exporters, while bolstering sustainability and self-reliance for domestic companies, especially MSMEs.
Cabinet okays Rs 25,060 crore Export Promotion Mission to bolster India's export ecosystem
New Delhi, Nov 12: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the Export Promotion Mission, with an outlay of Rs 25,060 crore, to strengthen India's export ecosystem.
India should halt sanctioned oil imports, seek tariff relief, and fair trade talks with US: GTRI
New Delhi, November 1: India should halt sanctioned oil imports, seek tariff rollback, and resume trade talks only on fair terms with US, the Global Trade Research Initiative (GTRI) said in a note, outlining a three-step plan for India to protect its trade interests under the ongoing bilateral trade agreement negotiation with America.
APEC biz events to showcase S. Korean firms' global competitiveness, technological edge
Seoul, Oct 23: South Korea will host various business events during the Asia-Pacific Economic Cooperation (APEC) summit to showcase local companies' technological competitiveness and promote exports, the industry ministry said on Thursday.
India must build tech depth and cut costs to stay export-competitive: GTRI chief
New Delhi, October 23: As the global economy slows and trade dynamics shift, India must shift focus from traditional export strategies to building long-term competitiveness through technology, cost efficiency, and domestic capability, says Global Trade Research Initiative (GTRI) founder Ajay Srivastava today.
Uday Kotak urges Indians to build globally competitive firms amid uncertain global environment
Mumbai, October 16: Uday Kotak, founder and Director of Kotak Mahindra Bank, on Thursday, urged every Indian to focus on building India and globally competitive Indian enterprises amid a rapidly changing and uncertain world.
US tariffs severely hit India's textile exporters; industry seeks moratorium, raw material reforms: CITI survey
New Delhi October 13: India's textile and apparel exporters are facing severe disruptions following the United States' imposition of a 50 per cent additional tariff, according to a nationwide survey conducted by the Confederation of Indian Textile Industry (CITI).
GST rate cuts to boost Uttar Pradesh's craft and industrial clusters
New Delhi, October 2: The recent Goods and Services Tax (GST) rate rationalisation has extended relief across key sectors, including handicrafts, food products, footwear, toys, textiles and industrial goods. According to a government release on Thursday, the reforms are expected to lower costs for consumers, improve margins for artisans and micro, small and medium enterprises (MSMEs), and strengthen the competitiveness of Uttar Pradesh's export clusters.
GST 2.0 comes as booster shot for Andhra's fisheries, pharma, auto & dairy sectors
New Delhi, Sep 30: The GST rate cuts, that kicked in on September 22 will give a big push to economic growth in Andhra Pradesh across sectors ranging from the fishing harbours of Visakhapatnam to the auto hubs of Anantapur and Chittoor as well as the coffee plantations of Araku Valley and the craft clusters of Kondapalli and Etikoppaka, according to an official statement issued on Tuesday.
GST 2.0 rate cuts to propel growth across sectors in Tamil Nadu
New Delhi, Sep 23: The GST 2.0 rate cuts will benefit Tamil Nadu across multiple sectors -- from traditional handlooms, handicrafts, coir and fisheries to modern industries like automobiles, electronics, renewable energy and defence, an official document said on Tuesday.
GST 2.0 rate cuts to propel growth across sectors in Tamil Nadu
New Delhi, Sep 23: The GST 2.0 rate cuts will benefit Tamil Nadu across multiple sectors -- from traditional handlooms, handicrafts, coir and fisheries to modern industries like automobiles, electronics, renewable energy and defence, an official document said on Tuesday.
Decade of Make in India: Government unveils comprehensive logistics cost assessment to boost competitiveness
New Delhi, September 20: Union Minister of Commerce and Industry, Piyush Goyal, on Saturday in New Delhi, launched the report on Assessment of Logistics Cost in India on the occasion of celebrations marking a decade of "Make in India".
GST 2.0 gives booster shot to textiles, logistics sectors
New Delhi, Sep 18: The rationalisation of Goods and Services Tax under GST 2.0 marks a significant reform aimed at removing structural anomalies, reducing costs, and boosting demand in the textile and logistics industries, both of which are vital for domestic growth, employment, and export competitiveness, according to an official statement on Thursday.
Telangana's new education policy to help students compete with the world: CM
Hyderabad, Sep 17: Telangana's new education policy will be a blend of language, basic knowledge, and skills to enable students to compete with the world, Chief Minister A. Revanth Reddy said on Wednesday.
UAE strengthens global competitiveness leadership in 2025
Abu Dhabi, September 14: The United Arab Emirates continues to consolidate its position as one of the world's most competitive nations in 2025, achieving outstanding results across a wide range of international and regional indices. These achievements reflect the success of the country's comprehensive development strategy, the efficiency of its governance model, the resilience of its economy, and the high quality of life it offers to citizens and residents.
GST refunds made easier for low value e-commerce exports
New Delhi, Sep 5: In what comes as a relief to e-commerce exporters, the GST Council has approved DGFT’s proposal to eliminate the value threshold for GST refunds on low-value consignments.
Competitiveness will only get better with sustainable pathway: Piyush Goyal at CII Sustainability Summit
New Delhi, September 2: Union Minister of Commerce and Industry Piyush Goyal on Tuesday emphasised that competitiveness would only improve with a sustainable pathway as India continues to remain committed to its sustainability goals.
UAE consolidates its position as destination for major corporate headquarters in 2025
Abu Dhabi, August 31: The UAE has entrenched its position as a major destination for global companies seeking regional or global headquarters, benefiting from a sophisticated legislative system, advanced digital and financial infrastructure, and its geographic location linking Asian, African, and European markets.
GTRI calls for export competitiveness reforms as India faces US tariffs
New Delhi, August 30: The Global Trade Research Initiative (GTRI), a trade-focused think tank, has suggested a 10-point plan to the central government, which it believes, if implemented, can shield India from the impact of US tariffs.
Digital transformation could boost Indian mining & Metals competitiveness by 15%: FICCI Crisil Report
New Delhi, August 28: Indian mining and metals companies can achieve efficiency improvements of 10-15 per cent through digitalisation and automation -- gains equivalent to those previously sought through import safeguard duties -- according to industry executives speaking at the FICCI's second Conference of Automation, Digitalisation & Technology Integration in Mining & Metals.
'Digital transformation may boost Indian mining and metals competitiveness by 15 per cent'
New Delhi, Aug 28: Indian mining and metals companies can achieve efficiency improvements of 10-15 per cent through digitalisation and automation — gains equivalent to those previously sought through import safeguard duties, experts said on Thursday.
Indian exporters worried as US tariff hike kicks in from Friday
New Delhi, Aug 26: The Federation of Indian Export Organisations (FIEO) on Thursday expressed grave concern over the US government's imposition of an additional 25 per cent tariff on Indian-origin goods, raising total duties on many export categories up to 50 per cent, with effect from Friday.
Department of Posts collaborates with Maharashtra's MSSIDC to enhance MSME Competitiveness
Mumbai, August 21: The Department of Posts (DoP) and the Maharashtra Small Scale Industries Development Corporation Ltd. (MSSIDC) have entered into a strategic collaboration to strengthen support for Micro, Small and Medium Enterprises (MSMEs) in Maharashtra.
S. Korea unveils steps to support 'voluntary' restructuring of petrochemical industry
Seoul, Aug 20: The government will help the ailing petrochemical sector's "voluntary" restructuring efforts aimed at tackling the industrywide crisis stemming from a global oversupply, the industry ministry said on Wednesday.
Singapore launches Economic Strategy Review to navigate global shifts
Singapore, Aug 4: Singapore announced on Monday a comprehensive review of its long-term economic strategy, forming a high-level group comprising five specialised committees, to strengthen the country’s economic relevance amid global structural shifts such as geopolitical realignments and technological disruption, which continue to reshape the global economy and regional dynamics.
Start-ups, R&D key to global competition, sustainable development: President Murmu
New Delhi, Aug 1: President Droupadi Murmu on Friday said that encouraging a patent culture along with promoting R&D and start-ups to compete at the global level are key to shaping the sustainable future of our country.
India-US trade deal with lower tariff than competitors will be 'big advantage': NITI Aayog Vice Chairman Bery
United Nations, July 24: A US trade deal with tariffs on labour-intensive Indian products at a lower rate than some of the competitors would be a "big advantage" and present an opportunity, according to NITI Aayog Vice Chairman Suman Bery.
India's real GDP growth projected to grow at 6.4-6.7 pc in FY26: CII
New Delhi, July 3: India's real GDP growth is projected to grow in a range of 6.4-6.7 per cent in FY26, reinforcing the country’s position as the fastest-growing major economy in the world, the Confederation of Indian Industry (CII) said on Thursday.
Govt's reforms have made India's mining sector globally competitive: Kishan Reddy
New Delhi, June 23: Minister of Coal & Mines G Kishan Reddy has stated that the mining sector has, over the last decade, witnessed an era of unprecedented reforms, marked by transparency, efficiency, and ambition.
South Korean firms invest record $61.1 billion in R&D in 2024
Seoul, June 12: South Korean companies spent a record amount of 83.6 trillion won ($61.1 billion) on research and development (R&D) projects last year as part of efforts to enhance their competitiveness amid an intensifying global technology war, government data showed on Thursday.
With the kind of roads now, logistics costs reduced by 6 pc: Union Minister Nitin Gadkari
New Delhi, June 9: Union Minister for Road Transport and Highways Nitin Gadkari on Monday stated that India's logistics costs have decreased by six per cent from 16 per cent, attributing the reduction to significant improvements in road infrastructure under Prime Minister Narendra Modi-led NDA government.
Government implements comprehensive measures to boost exports and strengthen trade competitiveness
New Delhi, March 25: : The Government has taken various proactive measures aimed at enhancing domestic capacities, boosting exports, diversifying supply chains, exploring alternate sources of imports and fostering economic resilience. Several key initiatives and policy measures undertaken by the Government to boost exports, attract investments and to promote ease of doing business from time to time are as follows, according to the Ministry of Commerce and Industry statement.
WTO experts underscore key insights on trade policy and industrial policy linkages
New Delhi, March 6: The role of Production Linked Incentive (PLI) schemes in enhancing manufacturing competitiveness, India's green transition, and inclusive sustainability took center stage at an international conference organized by the Centre for Trade and Investment Law (CTIL).
Rise in quality consciousness among Indian manufacturers, automotive and chemicals lead: CII study
New Delhi, February 16: Indian manufacturers are witnessing a rise in quality awareness, with the automotive and chemicals sectors leading the adoption of global certifications and quality protocols, a study by the Confederation of Indian Industry (CII) said.
Despite inflationary risk, falling rupee adding to India's export competitiveness: Finance Secretary
New Delhi, February 4: The Rupee's depreciation against the US dollar will pose a risk to inflation but at the same time will make the exports competitive, Finance Secretary Tuhin Kanta Pandey said Tuesday.
India must continue to reduce trade costs and improve facilitation to remain competitive globally: Eco Survey
New Delhi, January 31: The Economic Survey 2024-25 has emphasized the need for India to remain competitive in global markets by reducing trade costs and improving trade facilitation.