Page 4 - India Imports

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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

India's finished steel imports from China hit 7-year high in April-Dec

China, the world's top steel producer, shipped 2.1 million metric tonnes of finished steel to India during April-December, up 13.3 per cent year-on-year, the data showed

Govt stops imports of herbicide Glufosinate priced below Rs 1,289 per kg

The government on Friday imposed restrictions on imports of herbicide Glufosinate priced below Rs 1,289 per kg, with a view to discourage inbound shipments of the chemical. However, if the prices are above this value, imports are allowed without any restriction. "Import of Glufosinate and its salts (purity - minimum 95 per cent) is restricted for CIF value below Rs 1,289 per kg. However, import of Glufosinate and its salts is free if CIF value is Rs 1,289 per kg and above," the directorate general of foreign trade (DGFT) said in a notification. CIF value (cost, insurance, and freight) is a trade term used in international commerce to determine the total value of goods being imported. Products under the restricted category need a licence from the government. The import of the herbicide stood at USD 177 million during April-November this fiscal. It was USD 238.13 million in 2023-24. During the first eight months of this fiscal, India imported Glufosinate mainly from China (USD 58.72

Weaker rupee to push India's import bill due to higher payments: GTRI

The weaker rupee will push the country's import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday. Citing an example, it said the depreciating domestic currency will increase India's gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from USD 65,877 per kg in January 2024 to USD 86,464 per kg in January 2025. Since January 16, last year, the Indian Rupee (INR) has weakened by 4.71 per cent against the US dollar, falling from Rs 82.8 to Rs 86.7. In the last ten years, between January 2015 and 2025, the INR has weakened by 41.3 per cent against the US dollar, falling from Rs 41.2 to Rs 86.7, the Global Trade Research Initiative (GTRI) said in its report. In comparison, the Chinese Yuan depreciated by 3.24 per cent, from Yuan 7.10 to Yuan 7.33. "Overall, weaker INR will inflate import bills, raise energy and input prices, leading to

Trade deficit eases to $21.94 billion in December as gold imports fall

Data showed merchandise exports contracted by 1 per cent year-on-year to $38.01 billion in December

Amid error in gold import figures, Panel formed for accurate data reporting

The government on Thursday formed a committee, comprising officials from commerce and customs, to create a robust mechanism for publishing consistent and accurate data following errors in gold import figures. In a statement, the commerce ministry said that due to the migration of data transmission mechanism from SEZ (special economic zone) to ICEGATE (Indian Customs Electronic Gateway), figures of precious metals needed revision as double counting was noticed. The double counting occurred because the system was calculating both imports into SEZ and subsequent clearance into DTA (domestic tariff area) as separate transactions after the migration. "A committee has been formed with stakeholders from DGCIS (Directorate General of Commercial Intelligence and Statistics), DG Systems (CBIC) and SEZs for the creation of a robust mechanism for publishing consistent data," it said. The government has revised gold import data, bringing down numbers for November by USD 5 billion to USD 9.84 ..

For goods sent abroad for repairs, no tax implication based on value

The facility to import components under EPCG scheme for assembly or manufacture of capital goods by the importer was available earlier but has been discontinued since 2004

Not a great start for India's importers and exporters in the New Year

Donald Trump, who will take over as President of the United States, has threatened to hike import tariffs across the board, and impose high tariffs on imports from China, Canada, Mexico and India

Centre approves laptop and tablet imports for 2025 with mid-year review

The union government has approved the import of laptops and tablets for the year 2025, with a mid-year review to address supply-demand gaps and promote a gradual shift to local manufacturing

DGTR for anti-dumping duty on PVC paste resin from China, 5 others

The commerce ministry has recommended imposition of an anti-dumping duty of up to USD 707 per tonne on imports of PVC paste resin, used to make artificial leather and other technical textiles' products, from six countries, including China, for five years, with an aim to guard domestic producers. In its findings, the Directorate General of Trade Remedies (DGTR), a wing of the ministry, has concluded that 'Poly Vinyl Chloride Paste Resin' has been exported to India at a price below the normal value from certain players of the six nations -- China, Korea, Malaysia, Norway, Taiwan, and Thailand. The move has resulted in dumping of the product into Indian markets. The notification of the directorate said imports from these countries have caused material injury to the domestic industry. "The authority recommends imposition of anti-dumping duty on the imports... so as to remove the injurious effects of the dumped imports on the domestic industry," it has said. The recommended duty ranges

Exporters: Know when you can claim duty drawback and Rodtep benefits

Drawback and Rodtep will be available only against export of goods. At the time of export of goods, one must declare the value of the goods in the shipping bill

India's finished steel imports from China reach all-time high, shows data

Total imports of finished steel were at an eight-year high with India, the world's second-biggest crude steel producer, a net importer during the period