The Directorate General of Foreign Trade said in a directive that telecom operators will have to refund the duty sops availed under the commerce ministry's export promotion scheme for services -- Served From India Scheme.
While the directorate general of foreign trade has completed consultations with the industry and exporters, it will start interacting with the different ministries like agriculture, finance, micro, small and medium Enterprises, steel and environment. Revenue department in the finance ministry holds the key for extending benefits to exporters who are facing the brunt of recession in several major economies.
Indian Council of Medical Research had also recommended the use of hydroxychloroquine for treating healthcare workers handling suspected or confirmed coronavirus cases and also the asymptomatic household contacts of the lab-confirmed cases.
Exports to India's key markets - the US, the United Arab Emirates, China, Singapore, Bangladesh and Germany - witnessed a sharp decline, resulting in a 12.69 per cent contraction in outbound shipments during the first month of the current financial year, commerce department data showed. India's biggest export market - the US - with 17 per cent share witnessed 17.16 per cent contraction at $5.9 billion in April. This was followed by the United Arab Emirates (UAE) that saw 22.09 per cent decline at $2.23 billion exports.
In a move to boost export of automobiles from India, the government has announced additional incentives on overseas shipments of cars and good carriers to 13 countries, including Australia and Brazil.
The Directorate General of Foreign trade on Friday issued an order banning toy imports from China, which is India's biggest trade partner, for six months. The notification, however, gave no reason for the ban.
Pharma firms will have to affix barcodes on consignments of all tertiary level packaging, such as cartons, following a government order.
Six entities including four foreign portfolio investors (FPIs) are under lens for suspicious trading in Adani group shares prior to the release of the damning Hindenburg report, the Supreme Court-appointed expert committee has said. There was a build up of short positions in the Adani scips prior to the January 24 release of the Hindenburg report, and substantial profits were booked thereafter as stocks crashed, the 178-page report said. A "short" position is generally the sale of a stock one does not own.
Mallya's airline is the second domestic carrier to have received DGFT approval for ATF import after budget carrier SpiceJet.
India on Friday lifted a 28-month ban on wheat export by allowing export of 900,000 tonnes of the grain by government-owned trading agencies.
India today lifted a 28-month ban on wheat export by allowing export of 900,000 tonnes of the grain by government-owned trading agencies.
The trade to-and-from India so far is not affected. But if the situation continues to remain the same for the next two to three months, it could definitely hurt India trade, including essential cargo.
A high level committee to revamp the Directorate General of Foreign Trade is mulling giving the directorate more teeth to undertake anti-dumping investigations and monitor imports of sensitive items.
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.
The government has withdrawn the 'export licence' restriction for overseas sale of onion, as the prices of commodity have started to soften in domestic market. The Director General of Foreign Trade has notified that the export of onions could be undertaken after getting the no-objection certificate from NAFED and 12 other state trading agencies.
'For the first time since I've been following Indian politics, one heard voters talking about India's role on the world stage and the fact that, due to Modi's leadership, India was once again a great power.'
The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry denied having imposed any blanket ban on the import of food products from Japan even as it has imposed some strict measures.
The exporters will get duty benefits for shipments to 15 countries, including Australia, Brazil, New Zealand, China and Japan.
The domestic drug industry has expressed serious concern over the central government's decision to make it mandatory to carry a barcode on every medicine pack meant for exports from July 1.
The government has banned import of CDMA mobile phones that lack unique electronic serial number and mobile equipment identifier, which help authorities identify and track users.
Onion production in the country is likely to be around 10.5 million tonnes in 2010-11, down from 12 million tones last year.
From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items. Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products. By the latest count, there are 156 QCOs on 672 products.
Reports suggest at least four infants died in China after consuming the contaminated milk. The adulterated whitener led to several thousands falling sick. Melamine, used for making plastics and fertiliser, was found in infant formula and other milk products of 22 Chinese dairy firms.
Foreign Trade Policy: More incentives for exports, focus on ease of trading
India on Tuesday protested to Pakistan over the unprovoked firing from across the border to give cover to infiltrators when its Deputy High Commissioner was summoned for the fourth time in just over a week over alleged "unprovoked ceasefire violations".
Expanding for the fourth straight month, exports surged by 34.8 per cent in February to $16.09 billion against $11.94 billion in the year-ago period on the back of revival in the Western economies.
The Directorate General of Foreign Trade on Monday notified Duty Entitlement Pass Book Scheme (refund of local taxes) on cement exports. The commerce ministry had lifted the 46-day old ban on cement exports on May 27. However, it had allowed shipments only through ports in Gujarat. The state accounts for 95 per cent of the total cement exports.
Taking yet another measure to check inflation through improving domestic supplies, the government today stopped export incentives on basmati rice. "Export of basmati rice shall not be entitled for DEPB (Duty Entitlement Pass Book) benefits," the Directorate General of Foreign Trade said in a notice. Government has already banned export of non-basmati rice & revised upward the minimum export price for basmati rice. Inflation for the week ended March 22 has touched the 7% mark.
To cut transaction costs for traders, the government has launched an online facility for issuing Importer-Exporter Code Number.
Export-Oriented Units (EOUs) in the country are likely to continue to enjoy income-tax benefits even after the ensuing deadline of March 2009.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
Prime Minister Narendra Modi on Saturday welcomed a host of world leaders, including United States President Joe Biden and United Kingdom Prime Minister Rishi Sunak, at the Bharat Mandapam, the venue of the G20 Summit.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances