Page 3 - India Imports

India eyes rare earth magnet incentives amid mounting supply concerns

To reduce its dependence on China for rare earth magnets, India is offering financial incentives to companies and drafting a plan to partly subsidise the price gap with Chinese imports

Datanomics: Imports of readymade garments from B'desh to suffer amid curbs

As on 31st March 2024, India had 12 operational land ports, out of which 6 were with Bangladesh. Two out of these six - Dawki and Sabroom became operational in 2023 and 2024 respectively

Andean aspirations: Why is India cosying up to Chile for a trade deal?

While both sides have shared trade interests such as agricultural products and services, the elephant in the room is Chiles expansive reserves of critical minerals, key among them being lithium

India to defend import curbs on copper in legal battle with trade groups

India, the world's second-largest importer of refined copper, relies on imports to address shortfalls and meet robust demand in sectors such as energy, defence, automotives and infrastructure

UK dismisses idea that British workers being 'sold out' in India trade deal

British opposition parties accused the government of signing up to a deal that would unfairly benefit India

Pahalgam attack: Pakistan shuts ports for Indian ships in tit-for-tat move

In a directive issued by Pakistan's Ministry of Maritime Affairs, Indian flag carriers would no longer be permitted at any Pakistani port

Every Indian now consumes 24 kg edible oil a year, triple the 2001 level

ICMR recommends a 12 kg limit, but rising consumption is fuelling obesity, lifestyle diseases, and growing dependence on edible oil imports

62% Indians chose 'Made in China' products in last 12 month: Survey

Meanwhile, 20 per cent of Indian smartphone users said they have one or more Chinese apps installed

Reduce import dependency, focus on green construction, modular infra: Goyal

Commerce and Industry Minister Piyush Goyal on Sunday asked the construction industry players to reduce import dependency, focus on clean and green construction, and work towards earthquake-resistant and modular infrastructure. Speaking during the inauguration of the first edition of Chemicals & Allied Products Export Promotion Council's (CAPEXIL) Vibrant Buildcon 2025, in New Delhi, he said sectors, including housing, infrastructure, commercial real estate, railways, airports, highways, and energy play a key role in boosting the country's economic growth. "Every element, from cement and electricals to security systems and automation, plays a part in this ecosystem," he said. The government initiatives, including 20 new smart industrial cities, improved tourism infrastructure across 50 destinations, and 100 new industrial plug-and-play hubs would help India move from a USD 4-trillion economy today to a USD 30-35 trillion economy by 2047, Goyal added.

Commerce ministry alerts customs to monitor imports, exports vigilantly

The commerce ministry has alerted the customs authorities to maintain strict vigilance on imports and exports amid concerns about possible dumping of goods and re-routing of consignments from India to third countries following imposition of high tariffs by the US on China, an official said. As sweeping tariffs have been imposed on China, its goods have become expensive in the US market, and this could lead to diversion of goods into countries like India. The US has imposed a 125 per cent duty on China. The official said that customs have been alerted about monitoring our exports and imports to see if there is any extraordinary surge. India should not be used as a re-routing destination". The concerned line ministries and industry associations have also been asked to provide inputs on the surge in imports and its impact on the domestic industry.

India likely to dial down plans to curb personal computer imports

Import licensing requirements were to be implemented in 2023. The govt has so far deferred the timeline on four occasions and has now set Dec 2025 as deadline

Remittance to foreign print media for ads allowed from EEFC account

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

Delhi HC rejects JSW Steel, Trafigura plea to clear some met coke imports

India from January imposed curbs on imports of low-ash metallurgical coke, or met coke, with country-specific quotas to help domestic suppliers

Exide Industries, Amara Raja Energy gain up to 5% in trade; here's why

The government decided to remove import duty on EV batteries and mobile phones to help local producers withstand the potential impact of reciprocal US tariffs

Govt mandates quality norms for hinges to curb substandard imports

The government has issued mandatory quality norms for hinges to curb the import of sub-standard goods and boost domestic manufacturing of these goods, according to a notification. The Hinges (Quality Control) Order, 2025 was issued in this regard by the Department for Promotion of Industry and Internal Trade (DPIIT) on March 21, this year. Under these orders, items cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. The notification said this order would not apply on these goods manufactured domestically for exports; and up to 200 articles imported for the purpose of research and development by manufacturers of hinges per year with the condition that such items would not be sold commercially. "Any person who contravenes the provisions of this order shall be punishable under the provisions of the Bureau of Indian Standards Act, 2016," it said, adding the order will be implemented from July 1, 2025. Violation of the ...

Trump announces 25% tariff on Venezuelan oil: What's at stake for India?

US President Trump announced a 25 per cent tariff on countries buying Venezuelan oil and gas, effective April 2, applying to both direct and indirect buyers of Venezuelan crude

India imposing 150% tariff on US alcohol, 100% on agriculture goods: WH

While addressing a press briefing, Press Secretary Karoline Leavitt said that US President Donald Trump believes in reciprocity and wants to have fair and balanced trade practices

How quality control orders are crippling India's trade competitiveness

India's exporters are already under dire threat from the US. That only makes it more important that they should not be attacked from the domestic side. QCOs must be eliminated immediately

Won't stop Volkswagen consignment in $1.4 bn tax demand case: Centre to HC

The customs department on Monday told the Bombay High Court that it has not, and will not, stop any consignment of Skoda Auto Volkswagen India pursuant to a September 2024 show cause notice issued to the German firm seeking USD 1.4 billion in tax. The company last month filed a petition in the HC challenging the notice, terming it as "arbitrary and illegal". The tax demand notice relates to the firm allegedly importing car parts as individual units rather than as completely knocked down (CKD) units, which attract higher import duties. A division bench of Justices B P Colabawalla and Firdosh Pooniwalla heard the matter extensively on Monday and said it would continue the hearing on February 20. The bench questioned what if the company imports all components of the car except one item and then says they are only parts and not a CKD unit. "You (petitioner) bring in all the components except for one - let's say the gear box. You would still fall under the parts component and submit ..

Trade, energy imports in focus as PM Modi to meet Trump during key US visit

PM Modi's US visit takes on added significance as Donald Trump plans to introduce reciprocal tariffs, with an announcement expected just before the Indian PM's arrival in Washington DC