Page 13 - Trade Exports

Union Budget 2024-25: MSMEs bat for Rs 5,000 crore export booster

India SME Forum suggested setting up an export promotion and development organisation to support MSMEs in market intelligence, trade opportunities, B2B outreach and connections

RBI's draft trade norms envisage more discretion for ADs

ADs will handle the documents of a 'caution listed' exporter only against full advance payment from the buyer or irrevocable letter of credit

Madhya Pradesh's Khargone chillies set to spice up the world markets

Chillies are cultivated in more than 45,000 hectares of area of the district

Xi Jinping greets EU Council president ahead of EV tariffs taking effect

EU trade policy has turned increasingly protective over concerns that China's production-focused development model could see it flooded with cheap goods

RBI moots rationalisation of norms for export, import transactions

According to draft norms, every exporter should furnish a declaration specifying the amount of the full export value of the goods or services

International toy fair to begin on July 6 with over 100 foreign buyers

More than 300 domestic companies and over 100 foreign buyers from the US, Germany and other countries are expected to participate in the four-day international toy fair beginning on July 6 in the national capital, a statement said on Tuesday. More than 250 Indian brands will display their products during the fair, which is being organised at Pragati Maidan here, Toy Association of India senior vice-president Naresh Kumar Gautam said in the statement. Gautam said that the 15th Toy Biz International B2B Expo 2024 is the largest fair in South Asia. "It is a big platform for Indian toy makers to showcase their products and capabilities to the global audience. It helps us attract new customers and partners, expand market reach for our toys and boost exports," he said. In addition, he said, Toy Biz also provides a platform for industry players to network and connect with each other, which can help foster collaborations, partnerships and joint ventures. Gautam, who is also the CEO of ...

EU leaders agree on officials who will be face of European Commission

European Union leaders signed off on a trio of top appointments for their shared political institutions on Thursday, reinstalling German conservative Ursula von der Leyen as president of the European Commission for another five years. At the side of von der Leyen, who heads the EU's executive branch, would be two new faces: Antonio Costa of Portugal as European Council president and Estonia's Kaja Kallas as the top diplomat of the world's largest trading bloc. Mission Accomplished, outgoing EU Council President Charles Michel told reporters after chairing a summit of the bloc's leaders, as von der Leyen and Kallas accompanied him at a joint a news conference. Costa took part via video-link. Von der Leyen expressed her gratitude for a shot at a second term of office, saying: I'm very honored and I'm delighted to share this moment. Kallas, who as the EU's top diplomat will lead the bloc's foreign and security policy with Russia's war on Ukraine in its third year, noted that there is

Piyush Goyal meets exporters; reviews trade scenario, non-tariff barriers

Exporters asked the government to firm up a strategy to deal with the issue of non-tariff barriers imposed by trade partners that ultimately hurts India's exports

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

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

South Korea trade: India did better on manufactured goods, grew at 6.4%

Electronic goods was among the fastest growing segment among major manufactured goods imported from South Korea

When trade barriers are justified

In one rare situation, there is a case for some protectionism against imports from China

Eyeing 2025 polls, Aus aims early completion of trade deal with India

Both nations had signed the interim trade deal, also known as India-Australia Economic Cooperation and Trade Agreement (ECTA) that came into force on December 29, 2022

DGFT implements automated system for adhoc input-output norms fixation

The commerce ministry's arm DGFT on Thursday said it has implemented an automated system for adhoc input-output norms fixation for goods, with a view to promote ease of doing business for exporters. Exporters are allowed to import duty-free raw material or inputs for manufacturing goods for exports purposes only under an advance authorisation scheme. For this scheme, the Directorate General of Foreign Trade (DGFT) has fixed standard input-output norms for almost all categories of products. Depending on these norms, a license is issued for duty-free imports. For example, if 10 Kg steel is required to make a 100 meter long pipe, license will be given under the scheme for duty-free import of 12 kg of steel as there would be some wastages also in the manufacturing process. DGFT provides a sector-wise list of Standard Input-Output Norms (SION), under which exporters may choose to apply for the license. Alternatively, exporters may apply for their own adhoc norms in cases where the SION

Critical minerals, clean energy key focus as Chinese premier visits Aus

Perth is the capital of Western Australia state, which provided 39% of the world's iron ore last year. Iron ore is one of Australia's most lucrative exports

Here's why EU's ecodesign regulation can hurt export of textiles, footwear

EU's ecodesign regulation mandates rigorous energy performance and environmental sustainability, prohibiting the disposal of unsold textiles and footwear, potentially impacting India's export volumes

Centre developing mechanism to validate refund claimed under RoDTEP

The scheme came into effect over three years ago to refund the embedded non-creditable central, state and local levies paid on inputs to exporters to boost India's exports

UK overtakes China as India's fourth-largest export market in May

Exports to the European nation grew by a third to $1.37 billion in May. While the disaggregated data for the month of May wasn't immediately available

India's May exports rise 9.1%; merchandise imports up 7.7% at $61.91 bn

Merchandise imports in the same month rose 7.7 per cent year-on-year to $61.91 billion - widening the trade deficit to $23.78 billion

Changing terms of trade

India must aim to boost export share

Chatroom: 'DGFT should review Para 2.12 of FTP'

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