Commerce Secretary News

U.S. Commerce Secretary Wilbur Ross said on Sunday that his meetings in China have been friendly and frank.

US President Donald Trump on Friday will sign two executive orders aimed at combating foreign trade abuses that contribute to the country's half-trillion-dollar trade deficit, officials said.

Lauding the efforts of the Secret Service in successfully nabbing the intruder who had scaled the fences of the White House and entered the premises, President Donald Trump said Saturday that the suspect was disturbed.

Commerce secretary Rita Teaotia on Saturday told the exporting community that exemptions and incentives, which were being given for promoting exports would go away once the GST was in place.

South Asian countries need to work together with a "strong business agenda" in services trade as the SAARC region has a huge potential, Commerce Secretary Rita Teaotia said on Saturday.

Commerce Secretary Rita Teaotia said the ministry is focusing on exports sectors with a huge potential such as pharmaceuticals, ready-made garments, leather, gems and jewellery, chemicals and agro-chemicals.

Cautioning Indian industry on the changing global trade scenario, government on Thursday asked it to enhance product competitiveness in the international market without seeking "subsidies" and "doles".

Besides demanding significant duty cuts for exporting automobiles to India, EU wants tax reduction in wines/spirits and dairy products as well as a strong intellectual property regime (IPR) in the country.

Commerce Secretary Rajeev Kher said that Indian industry must enhance competitiveness and align themselves with the modern elements of international trade by promoting and integrating with the global value chains.

On a day the rupee breached 63 mark against the dollar, Commerce Secretary Rajiv Kher said the government would get uncomfortable if the Indian currency stays for long below 62.

Emphasising on the need to become more competitive in services in the global market, government on Wednesday said it is looking at 'more ideas' in the forthcoming foreign trade policy so as to increase exports.

The inter-ministerial Board of Approval (BoA) chaired by Commerce Secretary Rajeev Kher will consider these requests at its meeting on September 18.

India on Wednesday said it has received the free trade agreements on services and investments with ASEAN and it will "shortly" sign the pact.