The finance ministry has exempted imports of crude soya bean and sunflower oils from basic customs duty and agriculture infrastructure and development cess till June 30, subject to certain conditions. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal. Under TRQ, a certain volume of imports are …
After the pandemic-induced break of two years, feni traders in Goa are looking forward to reviving their efforts of exporting feni. One potential market is Japan, due to its penchant for premium products. Feni stakeholders have requested the Goa government to formally introduce the product in the east Asian country. A delegation of traders, too, …
Feni distillery in Goa looks to Japan to start exports Read More »
India is expected to slash the import duty on gold to undercut smugglers who have been offering hefty discounts as illicit imports boom after COVID-19, denting the market share of banks and refiners, government and industry officials told Reuters. A cut in the import duty by the world’s second-biggest consumer could lift retail sales by …
India plans to cut gold import duty to stop smuggling Read More »
The Association of Man-made Fibre Industry of India has requested the finance ministry to accept the Directorate General of Trade Remedies (DGTR) recommendation to levy an anti-dumping duty on imports of viscose staple fibre (VSF), which is used in ready-made garments, home and industrial textiles. On December 19, DGTR recommended the duty due to large-scale …
AMFII: Demand for dumping duty on viscose staple fiber Read More »
In order to give a boost to “Aatmnirbhar Bharat” efforts, the Modi government is considering increasing customs duties on about 35 items in the Union Budget 2023. Some of the items on which custom duty may be raised are: private jets, helicopters, high-end electronics, plastic goods, jewelry, high-gloss paper, and vitamins, said a report in …
Union Budget 2023: Customs duty on 35 items may be hiked to boost domestic manufacturing Read More »
The government has authorised the Mobile and Electronic Devices Export Promotion Council (MEDEPC) to issue registration-cum-membership certificates (RCMC), a key document for exporters, for certain products related to the sector including smartphones, smart watches, monitors and parts of mobile phones. According to the foreign trade policy (FTP), an RCMC is required for exporters in order …
The government is likely to announce adjustments in the duty structure for the $200-billion Indian apparel and textile sector in the Union budget next month in a bid to improve Indian competitiveness in cash-strapped Western markets, a senior government official said. Textile manufacturers say they have been forced to cut production days due to high …
Government may change textile duty to increase export competitiveness | Union Budget Read More »
Indian tea industry’s export prospect is bright, as a whole and to G20 nations in particular, amid the uncertainties arising out of the non-placement of fresh contracts from Iran, and doubts over the quality and quantity of the crisis-hit Sri Lankan crop, stakeholders said on Monday. India exported 134.14 million kg of tea in the …
TBI Chairman Says, India’s tea export prospect to G20 nations bright Read More »
The India-Australia ECTA (Economic Cooperation and Trade Agreement) that becomes effective on December 29 will boost exports of gem and jewellery, engineering goods and plastic goods, said the industry executives at an outreach programme on India-Australia ECTA and India-UAE CEPA (Comprehensive Economic Partnership Agreement) held in Kolkata on Wednesday. Pankaj Parekh, regional chairman, Gem & …
Trade Agreement with Australia to Boost Exports of Gem and Jewellery, Engineering Goods Read More »
India’s agrochemicals sector will grow at 15-17% in FY23, primarily driven by strong exports and stable domestic demand, according to a report from research firm Crisil. The sector registered a 23% rise in the fiscal year ended 2022. According to Crisil, in FY24 too, the industry revenue will see an expansion – of 10-12% – …
