Page 5 - Exports

Govt defines 'proof of origin' for trade to boost ease of doing business

The government on Monday defined the 'proof of origin' for trade purposes to promote ease of doing business and prevent the possibility of misuse of trade pacts. To seek duty concessions, an importer has to furnish proof or a 'certificate of origin' of a product from the FTA (free trade agreement) partner. According to the circular of the Department of Revenue, proof of origin means a certificate or declaration issued in accordance with a trade agreement certifying that the goods fulfil the country of origin criteria. Certificate of origin is a key document required for exports to those countries with which India has trade agreements. An exporter has to submit the certificate at the landing port of the importing country. The document is important to claim duty concessions under free trade agreements. This certificate is essential to prove where the goods come from. Commenting on the move, Apparel Export Promotion Council (AEPC) Secretary General Mithileshwar Thakur said the customs

China's sea cargo flow slows after Trump's reciprocal tariffs take effect

China's ports handled 244 million tonnes of cargo last week, 10 per cent less than a week earlier and down 4 per cent from the same week in 2024, according to Ministry of Transport data

Pause on US tariffs a big relief; opens window for trade talks: Exporters

The 90-day deferral of reciprocal tariffs decided by the US has come as a major relief as it provides a crucial window for pushing the talks on the proposed bilateral trade agreement between India and America, exporters said on Thursday. They said that diplomatic engagement and fast-tracking negotiations for the trade pact will help India deal with these tariffs. "It is a good decision by the Trump administration. We have been assured by the commerce ministry that the agreement will be finalised at the earliest," Federation of Indian Export Organisations (FIEO) President S C Ralhan said. He added that the move reflects a strategic pause aimed at avoiding immediate economic fallout while allowing space for potential resolutions. "A huge relief to our exporters. The 90-day deferral of the reciprocal tariff provides a critical window for diplomatic engagement and trade negotiations," Ralhan added. Welcoming the USA's decision, Mumbai-based exporter S K Saraf said that Indian industry

Trump's tariffs bring cheer to Maga base, but hurt US jobs and industry

The tariff wars that Trump has unleashed overlook his country's biggest competitive advantage - and may even irreparably harm it in the future

Trump tariffs: Govt sets up working group to monitor possible import surge

The commerce ministry is stepping up efforts to help exporters explore new markets to push outbound shipments while also setting up a working group to monitor possible surge in imports from countries like China to tackle the impact of sweeping tariffs announced by the US, source said. The ministry is also fast-tracking formulation of its export promotion mission to support exporters in areas such as providing credit at affordable rates; and negotiations of proposed free trade agreements with the European Union, Oman, New Zealand and the UK. Additionally, concerned officials have been directed to hold a series of bilateral meetings with the identified 20 countries such as Australia, Brazil, China, and France for pushing India's exports. These developments come at a time when exporters and industries have raised concerns that the additional 26 per cent import duty imposed by the US on India may hurt them. The identified 20 countries are Australia, Brazil, Bangladesh, China, France, .

India may emerge as low-tariff hub for US-bound consumer durable exports

Electronics makers begin talks with US importers; Dixon, Super Plastronics see opportunity

Tata Motors' arm Jaguar Land Rover may look to clear US inventory fast

Analysts feel company will focus on profitable growth besides volume growth JLR likely to have 1-2 months' inventory in US which will now liquidate faster

RBI proposes new regulations for export, import transactions under Fema

In July last year, the RBI had issued the draft, and based on the feedback received from the public and subsequent further consultations with various stakeholders

US reciprocal tariffs: Exporters flag concerns of dumping from China

Till now, American buyers were already keeping their orders on hold owing to the lack of clarity on reciprocal tariffs

Trump’s tariffs: A boon for Indian textile exports?

Trump's tariff gives Indian textile exporters an edge over competitors. Could this be a game-changer for India's apparel industry? Watch as we decode!

India's engineering goods exports dip 8.6%, first fall since April 2024

The industry body said this marked the first drop in monthly shipments of engineering goods since April 2024, ending a nine-month growth streak

Exports from SEZs and EOUs till Feb 5 eligible for Rodtep scheme benefits

Companies that have exported goods until February 5 this year from special economic zones (SEZs) and export-oriented units (EOUs) can claim benefits under the RoDTEP scheme, according to a notification. Earlier, the exporters were allowed to seek benefits under the scheme till December 31, 2024. Under Remission of Duties and Taxes on Exported Products (RoDTEP), various central and state duties, taxes, and levies imposed on input products, among others, are refunded to exporters. The current RoDTEP rates are in the range of 0.3-4.3 per cent. "The support under RoDTEP scheme for exports of products manufactured from AAs (advance authorisation), SEZs (special economic zones) and EOUs (export-oriented units) has been extended upto February 5, 2025," the DGFT has said in a notification on March 20. However, from February 6 onwards, exports from these categories will no longer be eligible for RoDTEP support, the Directorate General of Foreign Trade (DGFT) said. The support under the sch

India's export of key items sees double-digit contraction, says report

Data released by the commerce department on Monday showed that outbound shipments from India shrank at the sharpest pace in 20 months-by 10.9 per cent on-year--to $36.91 billion in Feb

Govt allows exports of 100% broken rice to reduce record high stockpiles

India had banned exports of 100% broken rice in September 2022 and then imposed curbs on exports of all other rice grades in 2023 after poor rainfall raised concerns over production

NITI Aayog plans policy for medium-size firms to aid their growth

Nageswaran said MSMEs should shed their fear of growth and transform across scales - from micro to small, from small to medium, and from medium to large enterprises

Indian trade group asks govt to partly shift gold, silver imports to US

Gem and Jewellery Export Promotion Council says step will balance trade deficit with the US

Hyundai India completes 25 years of exports; crosses 3.7 million mark

The company began exports in 1999 and has covered over 150 nations. It currently exports to more than 60 countries

January smartphone exports top full-year total of FY21, shows data

Minister for Electronics and Information Technology Ashwini Vaishnaw recently posted on X that smartphone exports for 2024-25 are likely to reach ₹2.25 trillion

PLI scheme fuels iPhone exports, but gaps remain in manufacturing

India's PLI scheme, particularly in electronics and smartphones, has proved successful in boosting domestic manufacturing and seamlessly aligning with the country's export ambitions

India's pharma exports set for 10x growth, targeting $350 billion by 2047

Indian biosimilar exports, presently valued at $0.8 billion, are expected to grow fivefold to $4.2 billion by 2030 and reach $30-35 billion by 2047