Page 3 - Imports

Govt extends import regime for IT hardware products till December 31

Asks companies to seek fresh approvals based on new guidelines from January 1

Enabling IGCRS rules for EOUs electronically to cut transaction costs

The EOUs should quickly familiarise themselves with the new procedures and raise any doubts/difficulties with the CBIC and ICEGATE, preferably before the coming Wednesday

Southeast Asia's local industries struggle with influx of Chinese imports

In Thailand's Lampang, half the ceramics factories have closed, Indonesia's textile workers face mass layoffs, and Malaysia's 10% e-commerce tax fails to shield manufacturers

EOU's B-17 bond serves purpose of continuity bond under IGCR Rules

Rajagopalan answers SME queries related to GST, export and import matters

Indonesia seeks ways to balance local industries with high Chinese imports

A flood of Chinese products into Indonesia has hit local manufacturers hard, prompting the government to look for ways to placate domestic producers while avoiding angering the country's biggest trading partner. Garment makers both home-based piece work producers and factories have appealed for help as they lose market share to low-cost apparel and textiles from China. A surge of products bought online has added to the problem. A protest by workers in Jakarta prompted Indonesian Minister of Trade Zulkifli Hasan to announce in July that the government will impose import tariffs of up to 200% on some products from China, particularly textiles, clothing, footwear, electronics, ceramics and cosmetics, to try to protect local businesses and prevent layoffs. The United States can impose a 200% tariff on imported ceramics or clothes, so we can do it as well," Zulkifli said, to ensure micro, small, and medium-sized enterprises and industries survive and thrive. But China is Indonesia's .

Govt considering potato imports from Bhutan amid rising prices, lower yield

The Ministry of Agriculture & Farmers' Welfare's first advance estimate indicates that potato production is projected to be around 58.99 million tonnes this year

Imports from China, Asean at predatory prices main concern: Jayant Acharya

Even imports from Japan and Korea have been elevated. India is basically a vulnerable ground because our domestic demand is very good, said Jayant Acharya, JMD, JSW Steel

China's exports exceed forecasts, declining imports point to more stimulus

The mixed trade data keeps alive calls for further government stimulus as the $18.6 trillion economy struggles to get back on its feet

India steel, trade ministries in talks over rising Chinese imports: Report

India is monitoring cheap Chinese imports, the source said, as China continues to be top exporter of steel to the Asia's third-largest economy in recent months

Chatroom: EO against AA can be discharged through physical/deemed exports

Rajagopalan answers SME queries related to GST, export and import matters

Bound by rules, economics, EU trails US on China tariffs imposition

The more modest action stems from the EU's strong belief that trade should be based on international rules

Chinese firms apply for anti-dumping probe of pork imports from EU

The move risks escalating tensions in one of the world's key trading relationships

Ministry of steel bets against limiting imports of key raw material

Imports of low ash metallurgical coke by India, the world's second-biggest crude steel producer, have surged more than 61% over the past four years

'Silver imports in 4 months surpass all of 2023 due to solar panel demand'

Increased imports by the world's biggest silver consumer could support global prices, which are trading near their highest level in more than a decade

India, China have agreed to cooperate in paying in local currency: Maldives

The Maldives on Wednesday said both India and China have agreed to cooperate in efforts to pay for imports in their respective countries' currency instead of the US dollar, which is likely to help Male save almost 50 per cent of the annual USD 1.5 million imports bill from the two countries. Maldives' Economic Development Minister Mohamed Saeed said he met with the Indian High Commissioner Munu Mahawar two weeks ago, who in turn, said that New Delhi would support and cooperate in arranging for the settlement of import payments in Indian Rupee. Similarly, Saeed said, he received a letter from China's Commerce Ministry, two days ago, in which Beijing provided assurance it will cooperate in allowing the option to settle import payments in Yuan, the Chinese currency, as requested by President Mohamed Muizzu. Annually, Maldives imports goods worth USD 780 million and USD 720 million from India and China respectively, the minister had said in April when he had first announced that the ...

Gold imports could fall by a fifth as record price prompts jewellery swaps

Lower imports by India, the world's second biggest consumer of the precious metal, could cap a rally that carried global prices to a record this week

Paper, paperboard imports up 34% on higher supplies from Asean bloc: IPMA

Imports of paper and paperboard in the country rose by 34 per cent to 19.3 lakh tonnes in 2023-24, driven by higher shipments from ASEAN countries, an industry association said on Wednesday. The Indian Paper Manufacturers Association (IPMA) in a statement said that the increasing imports of these products are hurting the domestic industry. Paper and paperboard imports, as per the commerce ministry data, were 14.3 lakh tonnes in the financial year ended on March 31, 2023, the IPMA said. "ASEAN has come to account for the largest chunk in the paper import pie in the country accounting for 27 per cent share. Paper imports from ASEAN, which enter the country at zero import duty under the ASEAN-India free trade agreement, doubled to 5.1 lakh tonnes during the year from 2.7 lakh tonnes in FY23," the association said citing commerce ministry data. The Association of Southeast Asian Nations (ASEAN) is a 10-member bloc. The members include Singapore, Thailand, Cambodia and Laos. In value .

Minimising dependence on imports part of our strategy: A M Int'l chief

Chemicals and fertilisers manufacturing company will expand domestic capacity and may look for tie-ups, says Ashwin Muthiah

Biden hits Chinese imports with tariffs to safeguard American workers

US President Joe Biden has imposed heavy tariffs on Chinese electric vehicles, batteries, steel, solar cells, and aluminium, saying it would ensure that American workers are not held back by unfair trade practices. These include a 100 per cent tariff on electric vehicles, a 50 per cent tariff on semiconductors, and a 25 per cent tariff each on electric vehicle batteries from China. In his address to the nation from the Rose Garden of the White House, Biden said America can continue to buy any kind of car they want, but we're never going to allow China to unfairly control the market for these cars. Period. I want fair competition with China, not conflict. We are in a stronger position to win that economic competition of the 21st century against China than anyone else because we're investing in America again, he said. Biden alleged that for years, the Chinese government has poured state money into Chinese companies across a whole range of industries: steel and aluminium, ...

Palm oil imports jump 34% to 684,000 tonnes in April on lower global prices

India's palm oil imports registered a 34.11 per cent jump on-year in April to 6,84,000 tonnes, buoyed by a fall in global prices, the Solvent Extractors' Association of India (SEA) said on Tuesday. Palm oil accounted for 52 per cent of India's total edible oil imports of 13,04,409 tonnes in April, the trade body said in a statement, adding that sunflower and soybean oils import stood at 6,20,315 tonnes. Including non-edible oils, overall vegetable oil imports rose 26 per cent in April to 13,18,528 tonnes compared to 10,50,189 tonnes a year ago, it said. Bearish global prices encouraged higher imports of refined, bleached and deodorized (RBD) palmolein and crude palm oil (CPO), which declined by nearly USD 100 a tonne last month, SEA said. Soybean oil prices fell USD 40 per tonne globally, while the sunflower oil rate dropped just USD 15 a tonne over the last month, it added. Among palm oils, RBD palmolein imports climbed to 1,24,228 tonnes as against 1,12,248 tonnes in the year-ag