Page 10 - Trade Exports

Trade game: India's exports to 8 of top 10 markets grow in H1 FY25

Netherlands, US, UK see positive growth despite muted global demand

India-Canada diplomatic row unlikely to affect businesses or students much

India and Canada have shared democratic values. The broader geopolitical considerations require India and Canada to co-operate and deepen their engagement

India's steel industry faces challenges as Chinese exports continue to rise

Reports indicate China is on track to export more than 100 mt in 2024 - the most since 2016

China emerges as India's top import source during Apr-Sep of FY24

China has emerged as India's top import source with USD 56.29 billion worth of inbound shipments during the April-September period of this fiscal, according to the commerce ministry data. During the period, the US emerged as the top export destination for the country with outbound shipments increasing by 5.62 per cent to USD 40.38 billion. The imports from China rose by 11.5 per cent during the first half of this fiscal. The imports stood at USD 50.48 billion during April-September 2023. During the period, the top 10 import sources of India were China, Russia, the UAE, the US, Iraq, Saudi Arabia, Indonesia, Korea, Switzerland and Singapore, the data showed. Imports from Russia rose to USD 32.18 billion during April-September this fiscal from USD 30.43 billion a year ago. Similarly, the inbound shipments from the UAE rose to USD 31.46 billion from USD 20.70 billion in the first half of the last fiscal. During the period, the top 10 export destinations of the country were the US, t

Showcause notice only a demand notice and not an adjudicating order

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

China's exports to Russia surge 15.7% in September, fastest in 9 months

"Bilateral trade has maintained a momentum of growth," Chinese state media cited Li as telling Russian Prime Minister Mikhail Mishustin at the time

Govt extends export benefits under Rodtep scheme till September 2025

The government on Monday extended benefits under the RoDTEP scheme for exports made from domestic tariff area (DTA) units for one year till September 30, 2025. The scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) provides for refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods and are not being reimbursed under any other mechanism at the centre, state, or local level. It was launched in January 2021 and was there till September 30. The Directorate General of Foreign Trade (DGFT) said in a notification that for Advance Authorisation (AA) holders, Export Oriented Units (EOUs) and Special Economic Zones (SEZs), the scheme is extended till December 31 this year. "The RoDTEP scheme is being extended for exports made from DTA units till September 30, 2025, and AA/EOU/SEZ units till December 31, 2024," it said. It added that the revised rates under the scheme are also notified for implementation

Smartphones overtake diamonds in India's exports to US, shows data

Nearly 50% of India's FY24 outbound iPhone shipments went to US

Centre starts talks for retaliatory measures against EU steel tariff

Trade bloc to continue with tariff imposed on Indian steel since 2018

FIEO urges Centre to extend interest subvention scheme for 5 years

Apex exporters body FIEO on Tuesday urged the government to extend the interest subvention scheme for five years to help increase credit flow in the sector in order to boost the country's shipments, which registered a steepest decline in 13-month falling 9.3 per cent in August to USD 34.71 billion. Earlier this month, the government extended the interest equalisation/subvention scheme, which provides interest benefits, on pre- and post-shipment rupee export credit for one more month till September 30. "The scheme will end on September 30. We have requested for it to be extended for five years. If there is no interest equalization scheme, then we will lose some markets and some orders," Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai told reporters here. The scheme helps exporters from identified sectors and all MSME (micro, small and medium enterprise) manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global .

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

Indian steel firms under pressure from rising imports, drop in exports

Global steel industry is facing a major threat due to surge in steel exports, particularly from China at predatory prices

India's exports to China fall at faster clip than to other partners

India's exports to China witnessed 22.44 per cent contraction to $1 billion, while overall exports declined 9 per cent at $34.7 billion in August, commerce department data showed

India 'big abuser' of US trade ties, says Trump ahead of meeting PM Modi

Donald Trump, hoping to make a comeback as the US president, criticised India as a "big abuser" of trade while praising PM Modi as a 'fantastic' man at an election campaign in the US

India's exports shrink 9.3% in August, trade deficit at 10-month high

Inbound shipments into the country rose 3.3 per cent to $64.4 billion during the month, leading to a trade deficit of $29.65 billion

Trade Connect e-Platform aims to raise India's exports market share: Goyal

The minister said the newer version of the platform will incorporate Hindi and other official languages of India

World food price index eases slight to 120.7 pts in August, shows UN data

The FAO index hit a three-year low in February this year as food prices retreated from a record peak set in March 2022 following Russia's invasion of Ukraine

JNPA records highest ever monthly container traffic in Aug as exports surge

The port surpassed the previous highest of 603,217 TEUs handled in July 2024

China to pitch green tech exports to Africa amid concerns of Western curbs

"That's a big ask for a continent that generally has very poor China literacy."

Ramkrishna Forgings seeks 20% exports growth as Mexico unit comes up

Company last year acquired three companies as it ramps up production capacity