The government has formed the Export Promotion Council for Pharmaceuticals (Pharmaexcil) to boost pharma exports.
The government on Thursday launched a Grievances Redress Cell for exporters and importers in a bid to improve the of the directorate general of foreign trade.
The ISI was taking no chances and wanted no repeat of Pulwama; it wanted to make it clear at a political level it was not involved with the revenge attack being planned, but was only giving India a friendly tip-off. A stunning excerpt from Ambassador Ajay Bisaria's Anger Management: The Troubled Diplomatic Relationship between India and Pakistan.
Exports in May 2012 stood at $24.77 billion.
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
During 2013-14, total value of exports stood at $465.90 billion.
Small and medium enterprises would continue to play a vital role in enhancing India's exports, L Mansingh, the director general of foreign trade, said in New Delhi.
Narendra Modi's promise to allow states a bigger say in strategising and building foreign policy is unexceptionable, says TP Sreenivasan.
The government on Wednesday ruled out revising the export growth target downwards in the wake of rupee appreciation and said it was slated to grow at 12 per cent during this fiscal.
A significant surge in the imports of crude palm oil has led to a 17 per cent growth in the imports of 300 sensitive items during the period April-October.\n\n\n\n
The FIEO on Thursday reiterated that the Customs authorities at several ports in India had ordered a sudden examination of Chinese consignments without any official word from the government, and this may have led to the Chinese retribution.
US President Donald Trump thanked PM Modi for lifting curbs on the export of hydroxychloroquine.
Nepal's decision to ban the import of non-essential items amid depleting forex reserves may hit Indian exports. The country's central bank - Nepal Rastra Bank - last week instructed commercial banks not to open letters of credit (LCs) for importing non-essential items. This is to prevent further decline of the country's foreign exchange reserves. However, it has not issued any formal communication yet.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
The government on Tuesday imposed restrictions on sugar exports from June 1, a move aimed at increasing availability of the commodity in the domestic market and curbing price rise. "Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards," the Directorate General of Foreign Trade (DGFT) said in a notification. However, it said that these restrictions would not be applicable on sugar being exported to the EU and the US under CXL and TRQ. A specified amount of sugar is exported to these regions under CLX and TRQ.
Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.
'Foreign policy-making cannot be shifted out of Delhi and the regional satraps, who do not have a national perspective, should not be allowed to dominate foreign policy. But regional inputs should be integral to foreign policy-making at every step of the way,' says Ambassador T P Sreenivasan.
The main issue has been that of a higher Asset Management Ratio as has been prescribed by the Monetary Authority of Singapore for qualifying full banks from India.
India is currently a relatively small market for the US, in terms of total US exports.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
Rising prices of cereals and concerns over rice production in the 2023-2024 crop year due to insufficient rains followed by floods could be the possible causes.
India's exports increased 3.79 per cent to $26.75 billion in January, helping the trade deficit to narrow to $9.92 billion.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
At the benchmark Lasalgaon Agricultural Produce Market Committee (APMC) mandi, the model onion price shot up to Rs 21.50 a kg on Thursday, as against Rs 16.50 a kg on Wednesday. This was the highest since February 11.
At Lasalgaon mandi, Asia's largest onion selling market, the onion price jumped Rs 1.50 a kg to Rs 32 a kg, the highest since January last year.
India consumes around 24-25 million tonnes of pulses, but sowing trends show this year production is expected to be lower compared to last year.
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Govt says Information Technology Agreement will be beneficial to India only when domestic manufacturing is robust
The US hopes India will "reconsider" its decision to ban wheat exports, with Washington "encouraging" countries not to restrict exports as that will exacerbate food shortages, amidst Russia's invasion of Ukraine. India, the world's second-biggest wheat producer, has banned wheat exports in a bid to check high domestic prices amid concerns of wheat output being hit by scorching heat waves. The decision would help control retail prices of wheat and wheat flour, which have risen by an average 14-20 per cent in the last one year, besides meeting the foodgrain requirement of neighbouring and vulnerable countries.
Earlier on August 14, the government imposed MEP of $650 per tonne. MEP is is a benchmark price below which onion cannot be exported.
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