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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.
The 10 per cent temporary tariff imposed by the US on imports from its trading partners, including India, is set to expire at 9:31 am (IST) on July 24, unless President Donald Trump's administration extends the measure or announces a new tariff regime. If no fresh announcement is made in the next few hours, imports from India and other US trading partners will revert to the tariff regime that existed before April 2, 2025, when no additional duty was in place. Trump, in April 2025, announced sweeping reciprocal tariffs on a number of countries, including on India (26 per cent). For example, a shirt exported from India, which attracted a 5 per cent Most Favoured Nation (MFN) duty in the US, has been subject to an additional 10 per cent tariff since February 24. If the temporary tariff expires on July 24 without being extended or replaced, the product will again attract only the 5 per cent MFN duty. The US, on Wednesday, said it will release the "final responsive action" on Section 30