Page 2 - Import

Steel ministry backs extension of import curbs on metallurgical coke

India, the world's second-largest crude steel producer, imposed quantitative restrictions in December on imports of low-ash met coke

Imports of permanent magnets from China resume, 30 consignments cleared

India resumes imports of Chinese permanent magnets after DGFT certifies compliance with non-defence and non-US use, addressing trade tensions and supply concerns

Bangladesh import curbs won't hurt Indian textile majors, say experts

Experts say India's ban on land-route textile imports from Bangladesh will likely boost domestic sourcing, with minimal disruption to large retail companies

Coal imports in April-February fall 9.2% on higher domestic output

India's coal imports declined to 220.3 mt in April-February FY25 amid a rise in domestic output, saving $6.93 billion in forex and reducing dependence on imports

Boost to Jaguar Land Rover: US trade deal cuts duty to 10% for 100K UK cars

JLR to gain as new US-UK trade deal allows 100,000 UK-made cars to be exported annually at a reduced import duty of 10 per cent, down from the previous 25 per cent

China warns nations not to team up against it to gain US reprieve

The US was the biggest single-country market for Chinese goods before the latest tariffs, but the Chinese government had been working for years to diversify its export markets

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

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, .

Medical device body asks Centre to revisit import duty reduction talks

This comes just days after economic think tank GTRI had asked government officials to seek reciprocity and improve market access for the Indian medical devices sector

Centre bans import, sale of 2 antibiotic classes for use in animal rearing

Health ministry bans use of all formulations containing chloramphenicol and nitrofurans in any food-producing animal rearing system over concerns of misuse

Govt imposes import curbs on platinum alloy with less than 99% purity

The government on Wednesday imposed import curbs on platinum alloy with less than 99 per cent purity to curb illicit imports of this precious metal blended with significant amounts of gold. Importers of such platinum alloys are now required to obtain import authorisation from the Directorate General of Foreign Trade (DGFT) for the inbound shipments. The decision follows cases where this alloy blended with significant amounts of gold was imported to exploit the tariff differential between gold and platinum. "Import policy of platinum...is revised from free to restricted except for platinum alloy of 99 per cent or more purity by weight of platinum," the DGFT said in a notification. To ensure a smooth supply of platinum for jewellery manufacturing and industrial use, the government allows the unrestricted import of platinum alloy with 99 per cent or higher purity of platinum. Economic think tank GTRI last year sought urgent review of India-UAE trade, the pact stating that the agreeme

Trump shrugs off EU's reported plans for US-style import curbs on food

Early targets could include US crops such as soybeans grown using pesticides that EU farmers are not allowed to use

India's natural gas consumption to rise 60%, imports double by 2030: IEA

Expanding city gas distribution, rising compressed natural gas infrastructure behind rise

Import stats for gold, silver, electronics lowered for April-November

The government has also revised the electronics import value for this period downward by $2.7 billion to $61.2 billion

Sri Lanka announces to lift vehicles import ban for first time in 4 years

Sri Lanka has announced that they will lift the vehicles import ban which was put in place in 2020 to ease the pressure on foreign exchange reserves due to the COVID-19 pandemic. By the gazette issued on Wednesday the importation of public transport vehicles have been allowed for the first time since early 2020. The Ministry of Finance said the policy to ban vehicle imports was implemented with the intention of easing the pressure on foreign exchange reserves due to the COVID-19 pandemic and the economic downturn of 2022. President Anura Kumara Dissanayake addressing Parliament on Wednesday said the importing cars for private use will be allowed from February 2025. However, the decision is subject to rules so as to protect the island nation's effort to build foreign reserves. All importers must sell their imports within three months, if not a three per cent fee would be charged. These conditions have been imposed with the intention of safeguarding foreign exchange reserves of the

Imports from UAE, S Africa, Switzerland grew in triple digits in Nov

Contraction in merchandise exports in November was led by dip in shipments to the US, the Netherlands, China, and Bangladesh

Centre grants one year extension for select IT hardware import system

Govt to monitor local manufacturing under PLI before imposing any import curbs

Political turmoil unlikely to impact Korea's trade with India for now

During the first six months of the current financial year, India exported goods worth $2.87 billion to South Korea, while imports stood at $10.62 billion

Huge import opportunities for UK apparel companies in India: AEPC

Apparel Export Promotion Council (AEPC) on Sunday said huge import opportunities are there for British apparel firms in India and they should participate in large numbers in the upcoming mega textile show here next year. Bharat Tex 2025 will be held here from February 14-17, 2025, at Bharat Mandapam and from February 12-15 next year at the India Expo Centre and Mart in Greater Noida. Companies will showcase the entire textile value chain, with a special focus on key sectors such as Handicrafts, Apparel Machinery, Chemicals, and Dyes. AEPC Chairman Sudhir Sekhri said that the UK is a global fashion hub and the sixth largest importer of apparel, with a total import value of USD 20.27 billion in 2023. "India, with its robust textile and apparel sector, has long been a trusted partner for the UK. In the past year (2023) alone, India's exports to the UK reached USD 1.2 billion, securing a 6.14 per cent share of the UK's textile and apparel market," he said. Exports of ready-made garmen