Page 15 - Trade Exports

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

China's Premier Li Qiang to visit Australia this week, says PM Albanese

China is Australia's largest trading partner, with Australian resources and energy exports dominating trade flow

China's exports grow 7.6% in May despite trade tensions with US, Europe

China's exports in May grew at their fastest pace in more than a year despite trade tensions, though imports fell short of analyst expectations, according to customs data released on Friday. Exports jumped 7.6 per cent in May from the same month last year to USD 302.35 billion, rising at the fastest pace since April 2023. Imports rose by 1.8 per cent to USD 219.73 billion, missing estimates of about 4 per cent growth. The uptick in exports is also partly due to a lower base in the same period last year, when exports declined 7.5 per cent. In comparison, exports grew by 1.5 per cent in April compared with the same period last year, while April imports rose by 8.4 per cent. The strong exports caused China's trade surplus to widen to USD 82.62 billion, up from April's USD 72.35 billion. The growth in exports comes as China faces escalated trade tensions with the US and Europe. The US is ramping up tariffs on Chinese-made electric cars while Europe is considering levying similar ...

Adopting global standards to help India improve quality of goods: GTRI

Steps such as adoption of international standards, using risk-based regulations, and modern infrastructure development will help further improve quality of goods manufactured and exported from India, economic think tank GTRI said on Friday. The Global Trade Research Initiative (GTRI) also recommended support to small and medium enterprises, avoiding quality control orders becoming non-tariff barriers, regulatory impact assessment, developing globally acceptable standards and inking mutual recognition pacts with trading partners to strengthen India's quality systems. These suggestions come at a time when India is on the fast track to issue Quality Control Orders (QCOs) and Compulsory Registration Orders (CROs) with a view to curb imports of sub-standard goods from countries like China, boost domestic manufacturing and push exports of high-quality goods from the country. GTRI Founder Ajay Srivastava said that to fully capitalize on these initiatives, it is crucial to comprehensively .

China to reinstate tariffs on 134 items under Taiwan trade deal next month

The suspension of the tariff concessions are due to take place from June 15 and would apply to products imported from Taiwan including base oils, the ministry said

The port company meant to deliver India's strategic objectives abroad

India Ports Global Limited will be operating ports in Iran, Myanmar, and Bangladesh; it will quickly need an equity base

Smartphones become India's fourth largest export item with 42% growth

Smartphones have been a key success story of the government's production-linked incentive (PLI) scheme