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The government on Friday relaxed the 'One Star Export House' eligibility condition for exporters by revising the specific international trade and financial performance norms in three consecutive fiscal years. Earlier, exporters were required to achieve specific export performance in all three preceding financial years to receive the 'Star Export House' status. Under the revised norms, export firms reporting the same in any two of the three preceding fiscals will be eligible to get this recognition. This change, however, does not apply to the gems and jewellery sector as that sector already has a separate two-year requirement under foreign trade policy (FTP) 2023. The directorate general of foreign trade (DGFT) has amended a provision of the FTP "to allow granting of One Star Export House status to applicants (other than for the Gems and Jewellery sector) who possess export performance in any two out of the three preceding financial years subject to other provisions...". Upon achiev
The government on Thursday nudged the industry to utilise free trade agreements (FTAs), focus on value addition, build resilient supply chains, and actively diversify export markets to boost manufacturing and strengthen the country's position in global trade. All trade agreements which India has signed "is a door, but doors, however magnificently crafted, do not open themselves. It is the industry that must walk through them," said Additional Secretary in the Department of Commerce Yashvir Singh. He said the industry should use FTAs to expand market access, attract investment and technology, diversify supply chains, and build manufacturing ecosystems that can withstand global shocks. The ambition is not merely to participate in global manufacturing but to make India a reliable, competitive, and trusted partner in global value chains, he said said at a manufacturing conclave. "I place before this audience five imperatives, not suggestions, but strategic obligations. First, invest in
India's tanker exports surged more than six-fold to USD 1.36 billion in the June quarter from USD 221.1 million a year earlier, signalling the country's growing shipbuilding and maritime engineering capabilities, with the UAE emerging as the largest destination during the period, according to commerce ministry data. Tankers are large-scale transport ships engineered for the bulk movement of liquids and gases. They serve as a cornerstone of global energy networks and industrial supply chains, they safely distribute vital commodities, including crude oil, petroleum products, chemicals, liquefied natural gas (LNG), and fresh water. The data showed that export volumes also expanded significantly from 10 vessels to 23 vessels, reflecting increasing international demand for Indian-built tankers and marine transportation assets. It added that the United Arab Emirates (UAE) emerged as the dominant export destination, accounting for USD 900.8 million worth of tanker imports in April-June ...
The country's exports increased by about 15 per cent during April-July this fiscal year despite global uncertainties, Commerce and Industry Minister Piyush Goyal said on Wednesday. He also expressed confidence that the target of USD 1 trillion worth of goods and services exports for 2026-27 will be achieved. It was USD 863 billion in 2025-26. "During the first four months of this fiscal, about 15 per cent growth is there in exports," he said. The final exports and import numbers for July will be released on August 13. Talking about free trade agreements (FTAs), Goyal said the nine pacts finalised in the last four years have opened huge opportunities for domestic industry. These pacts together account for about two-thirds of the global trade. During April-June this fiscal, exports increased 15.92 per cent to USD 129.32 billion, while imports rose 19.89 per cent to USD 216.18 billion.
The commerce ministry on Wednesday notified procedures for online companies to undertake inventory-based cross-border e-commerce. The government recently allowed e-commerce firms, having foreign stakes, to keep inventory only for export purposes. "The operational procedures for the implementation of the inventory-based cross border e-commerce facilitation framework, including registration of exporters-on-record, inventory management, seller visibility, reverse logistics, compliance certification, dispute resolution, and related procedural requirements of exporters-on-record are hereby notified with immediate effect," the Directorate General of Foreign Trade (DGFT) said in a public notice.
Domestic telecom gear maker HFCL on Thursday said it has bagged a fresh order for optical fibre cable exports worth USD 46.13 million, about Rs 441.53 crore. The order has to be executed by January 2027, the company said in a regulatory filing. "The company has secured export orders worth USD 46.13 million, equivalent to Rs 441.53 crore, for the supply of optical fibre cables, through its overseas subsidiary, from a renowned international customer," the filing said. Earlier this month, HFCL bagged an export order worth Rs 495.8 crore from an international data centre company for supplying optical fibre cable. HFCL has announced expansion of its fibre optic cable capacity to 45 million fibre route kilometres from 39 rkm per year. It is also increasing optical fibre capacity to 40 million fibre-route kilometres (rkm) from 30 million rkm a year. The company's Optical Fibre Cable (OFC) business recorded the highest-ever order book of Rs 13,483 crore in the last fiscal.