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pxhere.com and a deal is expected to help roll out the new tariffs which
are likely to be based on section 301 investigations launched
by USTR against India.
Goyal indicated that the Canadian Prime Minister indicated
his government’s keenness to conclude talks for a bilateral
trade deal this year. Also, Kenya has shown an interest in

a FTA with India and the government is expected to soon
start talks with the South African Customs Union for a trade
agreement.

Plywood industry battles a severe raw material deficit
to postpone non-essential purchases. The plywood industry in East and North-East India battles
To ensure long-term growth, Indonesia’s furniture sector a severe raw material deficit caused by strict logging bans,
needs improvements in productivity, efficiency, design innovation, inadequate local agro-forestry plantations, challenging logistics
workforce quality and consistent government policies. and a reliance on imported timbers, all of which continue to

He stressed that exchange rate advantages should be challenge manufacturing capacity and growth.
regarded as a bonus rather than a core strategy for maintaining These challenges were recently discussed during a
international competitiveness. Kolkata exhibition here participants were invited present their
perspective to find a solution to the many challenges faced
INDIA by the plywood industry.
India/UK FTA entered into force 15 July In his opening remarks at the panel, Dr. Bishnu Prasad
The Minister of Commerce and Industry, Piyush Goyal, has Sahoo, a scientist from the Indian Council of Forestry Research

been reported as saying despite the West Asia conflict Indian and Education (ICFRE), said that there are over 300 plywood
exports rose nearly 15 percent during the first two and half manufacturing units in West Bengal, Bihar, Odisha and North
months of the current financial year sustaining the momentum Eastern State.
seen during April. Over 85 percent units come in medium and small enterprises
Aided by strong oil exports in the wake of high prices for which are chiefly faced with the challenges of inadequate
crude and petroleum products exports have seen a strong supply of timber and raw material.
growth driven by the trade agreements being signed. Another participant said logistics has been one of the
The UK/India free trade (FTA) agreement came into force most pressing problems in the North East region despite
on 15 July. improved accessibility over recent years. Also, there is a long

Now, with almost zero duty, almost the entire Europe monsoon season in the North East which interrupts harvesting
market will soon be open for India as a FTA will be signed and production.
with the EU in December and will be effective in early 2027. In related news, it has been reported that many new species
Goyal said that next in line is the US trade deal. are being examined for plantations alongside conventional
The additional tariffs of 10 percent imposed by the US poplar logs from Uttar Pradesh, Haryana, Western States and
administration after the earlier “reciprocal tariffs”, were deemed also from Nepal and Vietnam.
illegal by the US Supreme Court are due to expire next month There are two new species that have been tried Semal