Since no communication has been received from the Goan govt. on the cancellation of SEZs, the issue remains unresolved.
In a major relief to Indian information technology (IT) companies operating in Australia, Canberra has agreed to amend its domestic laws to stop taxing offshore income of such Indian companies, as part of the free trade deal inked. This may lead to savings up to $200 million each year for over 100 Indian IT companies operating in Australia. "The Government of Australia has agreed to amend the domestic taxation law to stop the taxation of offshore income of Indian firms providing technical services to Australia. "This will resolve the issue that the Indian government has raised about the double taxation avoidance agreement (DTAA) between the two governments for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income," said a commerce ministry official.
India's overall imports from Taiwan during April-February rose by 34 per cent to $7.5 billion.
Lahore High Court Chief Justice Sheikh Azmat Saeed on Friday directed the Commerce Ministry and Film Censor Board to file their replies to the petition filed by film producer Kamran Ijaz.
India needs a National Trade Policy Council, chaired by a minister who reports directly to the PM, says Jayanta Roy, former economic advisor to the Union commerce ministry.
The government has notified new rules to enforce Intellectual Property Rights at the imports stage. The notifications prohibiting import or export of goods that infringe on IPR have also been issued.
However, the countries did not take up the issue of proposed withdrawal of export incentives by the US to Indian exporters under Generalized System of Preference.
The long awaited-resumption of border trade between India and China through the Nathu La pass in Sikkim has been finally set for June 30.
An empowered group of ministers had effected on April 5 major changes in SEZ rules, also setting the 5,000 hectare cap.
The electronics and software export promotion body has requested the commerce ministry for support schemes for boosting exports in view of the severe global export constraints.
Despite all official assurances, the path towards a free trade agreement (FTA) between India and the European Union (EU) this year remains ambiguous, as both sides are unwilling to relax their stand on the biggest stumbling block - the issue of "data exclusivity".
Job-oriented sectors such as tea, cashew, apparel, carpets, leather, textiles and handicrafts continue to face weak demand in traditional markets such as Europe and the US.
India's exports are expected to touch $360 billion in the current fiscal from $312.35 billion in 2013-14, Federation of Indian Export Organisations (FIEO) said.
Cumulative exports during April-August of 2017-18 rose by 8.57 per cent to $118.57 billion
India's climate change goals are turning combustible. On the one hand, a protracted dispute between the government and manufacturers over subsidies threatens to slow the pace of electric vehicle (EV) sales. On the other hand, repeated assertions by different arms of the government over banning sales of new fossil fuel-fired vehicles have queered the pitch for energy investments. Before we address the issue of the recommended diesel vehicle ban in the recent report on energy transition, issued months before the next round of global climate talks begin in Dubai in November, let's look at what's at stake.
According to the data released by the Commerce Ministry on Wednesday, exports during the April-June quarter of 2012-13 fiscal dipped by 1.7 per cent to $75.2 billion, from $76.5 billion in the same period last fiscal.
India and Pakistan agreed last year on a number of steps aimed at increasing bilateral trade.
The broader NSE Nifty too advanced 50.70 points, or 0.43 per cent, to close at 11,941.30.
IT major Wipro has proposed to establish a software economic zone in Kolkata, according to a top government official.
Agriculture Minister Sharad Pawar on Thursday favoured a compensation policy that ensures adequate return to farmers for giving up land holding rights in favour of any upcoming special economic zone project.
Exports stood at $23.6 billion in April last year, according to data released by the Commerce Ministry in New Delhi on Friday.
The project, the agreement for which was signed way back in 2009, had been gaining strategic relevance over the years as India-China ties took a hit.
India's merchandise exports are likely to surpass the target of $126 billion during 2006-07, if the first quarter growth is sustained, Commerce Minister Kamal Nath has said.
The country's exports rose by 48.34 per cent to $32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods, according to the data released by the Commerce Ministry on Thursday. Imports in June too rose by 98.31 per cent to $41.87 billion, leaving a trade deficit of $9.37 billion as against a trade surplus of $0.79 billion in the same month last year. During April-June 2021, the exports increased by 85.88 per cent to $95.39 billion.
In September, 2010, the country's outbound shipments were valued at $18.2 billion.
Among other things, the e-commerce players will have to display the total 'price' of goods and services offered for sale, mention the 'expiry date' of goods and the 'country of origin' of goods and services.
Telecom firms earning foreign exchange on incoming overseas calls, Internet services and rentals from cable networks are not entitled to duty sops under an export promotion scheme, says the government.
The items prohibited for import into India from the neighbouring country would include chocolate and chocolate products, candies, confectioneries and food preparations with milk as an ingredient.
Imports grew at a faster rate of 20.25 per cent to $40.1 billion.
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