A meeting of the Board of Trade, an advisory body to the Commerce Ministry, is likely to be held on October 11, a ministry official said.
The commerce and industry ministry may withdraw incentives offered to certain export-oriented industries and reallocate these to the sectors that are struggling for survival after a review in April.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
Inflation in food articles during May stood at 1.13 per cent, as against 2.55 per cent in April.
Former Congress MLA from Barnala, Kewal Dhillon, and former Shiormani Akali Dal MLAs Sarup Chand Singla and Mohinder Kaur Josh also joined the BJP.
Argentina has assured India that it will resolve the issue of restrictions on import of Indian drugs to the Latin American country.
Cabinet nod not required after commerce ministry approval.
Batting for the worried SEZ developers who fear withdrawal of incentives in the new direct tax code, Commerce and Industry Minister Anand Sharma on Friday said his ministry would ensure that the sops continue.
India has announced suspension of all tourist visas till April 15 in a bid to contain the spread of the virus.
The Ministry of Commerce and Industry on Thursday issued a discussion paper to achieve merchandise exports worth $450 billion in the next three years through greater market diversification, research and development and a thrust towards brand promotion.
Union Commerce and Industry Minister Anand Sharma has protested, on behalf of the corporate sector, against the Union environment and forests ministry's 'unreasonable environment regulations' being clamped on the industrial projects.
The immediate trigger is the environment ministry's latest policy of asking corporates to mandatorily commit five per cent of project investments in environment protection measures.
DIPP's proposal is believed to have the support of the ministry of consumer affairs, food and public distribution and was originally mooted by the Forward Markets Commission.
'The idea is to have a separate and independent consultation on non-personal data, and decide the contours of how it should be regulated, whether as guidelines, rules, or a separate policy,' said a senior official at MeitY.
In a move aimed at enhancing the bilateral economic ties, India and Germany will set up a hotline facility for speedy resolution of business visa related issues.
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.
Sitharaman, who became the first full-time woman defence minister in the first tenure of the Bharatiya Janata Party-led National Democratic Alliance government -- will also head the Corporate Affairs ministry in the new cabinet.
Admiral describes it as 'a path-breaking change'; defence ministry official disagrees.
The wholesale price-based inflation in February rose to 13.11 per cent on hardening of prices of crude oil and non-food items, even though food articles softened. After two months of mild easing, WPI inflation accelerated in February and remained in double digits for the 11th consecutive month, beginning April 2021. WPI inflation last month was 12.96 per cent, while in February last year, it was 4.83 per cent. The rise in crude oil and natural gas prices after the Russian invasion of Ukraine, beginning February 24, has put pressure on the wholesale price index, even though food articles saw softening across categories of vegetables to pulses to protein-rich items.
Norms for e-commerce likely, arm's-length pricing set for change.
Says Indian Patent Law conforms fully with global obligations under the WTO IPR pact-TRIPS.
Officials in the government, however, said India could only lodge a protest and not take legal action against the US.
To deny visa to trade officials planning to scrutinise country's trade and industrial practices.
The Commerce Ministry wants the Reserve Bank to reduce interest rate for dollar credit in its forthcoming monetary policy to help sustain the fledgling recovery in the exports sector.
Sluggish infrastructure sector growth would also have impact on IIP as these segments account for about 41 per cent of the total factory output.
Slow growth in the key sectors would have implications on the IIP number as these segments account for about 41 per cent of the total factory output.
After defence, the Commerce and Industry ministry has started the exercise to relax foreign investment norms in the railways sector by permitting 100 per cent FDI in high-speed train systems and dedicated freight lines.
The minister, however, said she was not in favour of relaxing rules for Apple to sell refurbished second-hand phones in India
Giving a relief to exporters community, the government on Thursday said it will release Rs 56,027 crore to exporters against pending tax refunds under different incentive schemes for outbound shipments. The amount will be disbursed to more than 45,000 exporters. Briefing the media about the decision, Commerce and Industry Minister Piyush Goyal said that the Rs 56,027 crore, which is being released under various export promotion schemes, is over and above duty remission of Rs 12,454 crore for the Remission of Duties and Taxes on Export Products (RoDTEP) Scheme and Rs 6,946 crore for Rebate of State and Central Levies and Taxes (RoSCTL) Scheme already announced.
With the abolition of the Foreign Investment Promotion Board (FIPB), Amazon's proposal will now be vetted by the Department of Industrial Policy and Promotion (DIPP) under the commerce ministry.
Trade deficit with China has risen to $40 billion, a cause for worry.
A certain segment of the US pharma industry have become vocal about Indian policies on domestic content requirements and IPR.
Trade deficit marginally widened to $9.85 billion as against $9.72 billion in February 2019.
Just days before the G-20 summit in London, the commerce ministry has recommended anti-dumping duty on cold-rolled stainless steel originating in eight countries, including China.
India Inc has couter attacked claims by US presidential candidates about the drain of jobs from US to India.
The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years.
The rate of price rise for food articles stood at 11.51 per cent during January as against 2.41 per cent a month earlier, while for non-food articles it rose nearly three-fold to 7.8 per cent from 2.32 per cent in December, the data released by the ministry of commerce and industry on Friday showed.
Batting for exporters hit hard by global downturn, Commerce and Industry Minister Anand Sharma on Monday met Finance Minister Pranab Mukherjee and made out a strong case for fiscal relief for the export sector in the Budget next month.
