Page 12 - Trade

Duty drawback on inputs used in export products shouldn't be denied

There is no bar on applying for advance authorisation under SION or Para 4.07 of HBP while your request for review of the SION under Para 4.06 of the HBP is pending

'Early tranche' of trade deal between India, US may be sealed soon

First phase might include a tariff reduction and focus on the priority non-tariff barriers faced by exporters

UK to give non-discriminatory treatment to India in procurement under FTA

The UK for the first time has agreed to accord non-discriminatory treatment to Indian companies in its public procurement system under the free trade agreement (FTA) between the two countries, an official said. On May 6, the two announced conclusion of negotiations for the FTA. It will be implemented next year. "For the first time, UK agreed to take binding commitment to provide non-discriminatory treatment to our suppliers under UK's Social Value regime in their public procurement system," the official said. Under the UK's Social Value law, the British government departments require public authorities to have regard to economic, social and environmental well-being in connection with public services contracts. According to the UK government, the trade pact will give UK businesses "unique and unprecedented" access to India's public procurement market, comprising about 40,000 tenders with a value of at least 38 billion pounds a year. On the other hand, India has agreed to allow Brit

Chinese smartphone exports to US decline to lowest level since 2011

Investors fear a global trade war that would erode some of the US-China bilateral trade that reached $690 billion in 2024, decimating industries and raising prices for consumers

Why India must rethink its use of quality control orders in trade policy

QCOs should protect against irreversible harm, not shield big firms or suppress imports under the guise of standards, especially as India embraces global integration

GeM to add global tendering, rate contract features on its portal

The addition of global tendering will allow international suppliers and vendors to participate in public procurement processes

After the 'pause': Trump's trade threat shows how it benefits everyone

China had been left out of the original comprehensive list of countries being hit with what Mr Trump inaccurately described as "reciprocal" tariffs

Amid India-Pak tension, apple growers demand ban on imports from Turkey

India annually imports around 300,000-500,000 tonnes of apples from nearly 40 countries across the globe, and Turkiye is one of them

US consumer prices rise marginally in April; impact of tariffs awaited

Though the U.S. and China took a major step towards de-escalating their trade war over the weekend, a 10% blanket duty on almost all imports remains in place, as do sectoral tariffs

As foreign tourists stay away, US could lose $12.5 billion this year

The United States is on track to lose $12.5 billion in international travel spending this year, falling to less than $169 billion from $181 billion in 2024

FTAs: It is time for India to pause and reassess its trade strategy

While the full FTA text remains undisclosed, publicly available details reveal signs of concern. This write-up flags three key issues

Multiple possibilities: US-China agreement marks a new beginning

Both countries had reasons to come to an agreement. Chinese factories have seen a clear reduction in demand for their goods, driven by the closure of the markets in the United States

India, EU to hold next round of FTA talks from Monday for early conclusion

India and the European Union (EU) chief negotiators will begin the next round of talks on the proposed free trade agreement (FTA) here from Monday, with an aim to conclude the first phase of the pact as early as possible, according to an official. The two sides have agreed to conclude the agreement in two phases on account of the uncertain global trade environment, particularly due to the US tariff actions under President Donald Trump. "The EU team will be here for the 11th round of negotiations. It will continue till May 16," the official said. Issues where there is convergence would be included in the first part of the agreement. They are aiming to conclude the second part by the end of this year. Talks for the previous (tenth) round focused on areas like market access offers in goods, services, investment and government procurement. India has followed the practice of negotiating trade pacts in two phases with Australia. It is following a similar approach to the US. Commerce ..

No duty cuts on UK wines in India FTA; limited relief for British beer

India is not giving any duty concessions on British wines and is providing only limited import duty benefits on UK beer under the free trade agreement (FTA) between the two countries, announced on May 6, an official said. The other sensitive agri products where India will not offer any reduction in the import duty include dairy products, apple, cheese, oats, animals and vegetable oils under the agreement with the United Kingdom. "Wine is on the exclusion list, along with several other agricultural products in the trade pact. We are also offering only a limited duty concession on British beer," the official said. India and the UK on May 6 announced the conclusion of the free trade agreement which will make British Scotch whiskey and cars cheaper in India, while reducing duties on Indian imports such as garments and leather products here. As per the agreement, India will reduce duty on UK whiskey and gin from 150 per cent to 75 per cent and further to 40 per cent in the tenth year of

Free trade agreement fix: Liquor industry red flags UK maturation norms

According to the UK and European Union (EU) regulations, a spirit must be matured for a minimum of three years in wooden casks to be legally defined and sold as "whisky."

Boost to Jaguar Land Rover: US trade deal cuts duty to 10% for 100K UK cars

JLR to gain as new US-UK trade deal allows 100,000 UK-made cars to be exported annually at a reduced import duty of 10 per cent, down from the previous 25 per cent

FTA with UK to help double garment exports to Britain in 3 years: AEPC

The free trade agreement (FTA) with the UK will help double India's ready-made garment exports to Britain in the next three years, AEPC said on Wednesday. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said that against the backdrop of demand contraction in major economies, Russia-Ukraine conflict, Israel-Hamas war, American reciprocal tariff and Chinese belligerence, there was uncertainty and disruption impacting the global trade adversely. "This deal has come as a boon, removing immediately tariff disadvantage of 9.6 per cent and making us competitive in the UK market. Now the Made in India ready-made garment will be cheaper on UK shelves and we will be at par with some of our major competitors who enjoyed duty-free access in the UK market," he said. India is the fourth largest supplier of garments with a 6.1 per cent share of the total RMG import of the UK. The exports to the UK from India grew 7.8 per cent to USD 1.4 billion in 2024-25. "With this deal in place

R R Kabel sees volume surge by 2026 as US tariffs present 'opportunity'

R R Kabel expects volumes to grow between 16% and 18%, finance chief Rajesh Jain told Reuters, partly bolstered by U.S. tariff policy that affects Indian exporters less severely than Chinese rivals

India, Belgium discuss ways to boost bilateral trade, investments

India and Belgium have discussed ways to increase boost bilateral trade, foster industrial collaboration, and deepening investments in strategic sectors such as semiconductors, clean energy, defence production, and pharma, an official statement said on Sunday. The two sides also reviewed progress in EU-India Free Trade Agreement (FTA) negotiations, with both parties recognising the need to address tariff and non-tariff barriers to enhance market access. These deliberations were held during the visit of Commerce and Industry Minister Piyush Goyal with Belgian Minister of Defence and Foreign Trade Theo Francken and Minister-President of the Flanders region Matthias Diependaele in Brussels on May 2. "The discussions highlighted growing economic synergies and focused on scaling bilateral trade, fostering industrial collaboration, and deepening investments in strategic sectors such as semiconductors, clean energy, defence production, and pharmaceuticals," the commerce ministry ...

Container cargo surge propels Kolkata Port's April 2025 growth at 45%

A sharp rise in cargo volumes and a significant jump in container traffic have propelled Syama Prasad Mookerjee Port (SMP), Kolkata, to the top of the growth chart among India's major ports in April 2025, with 45.32 per cent year-on-year increase in throughput. The SMP, formerly known as Kolkata Port Trust, handled 5.967 million metric tonnes (MMT) of cargo in April 2025 compared to 4.106 MMT in the same month last year, the highest growth recorded among all major ports in the country. A key driver of this growth was a 31.18 per cent surge in container traffic, with the port handling 75,716 twenty-foot equivalent units (TEUs), up from 57,717 TEUs in April 2024, the port said. It comprises 62,021 TEUs at the Kolkata Dock System (KDS) and 13,695 TEUs at the Haldia Dock Complex (HDC). At the dock level, HDC handled 4.363 MMT, registering a 45 per cent increase from 2.993 MMT in April 2024, while KDS handled 1.604 MMT, a rise of 44 per cent from 1.113 MMT last year. The growth was ..