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 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.
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.
Cumulative exports during April-August of 2017-18 rose by 8.57 per cent to $118.57 billion
The broader NSE Nifty too advanced 50.70 points, or 0.43 per cent, to close at 11,941.30.
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".
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.
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea 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.
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.
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.
The government has granted Geographical Indications (GI) tag to various products, including Gamosa of Assam, Tandur Redgram of Telangana, and an apricot variety of Ladakh. The commerce and industry ministry said on Wednesday that the total number of GI has reached to 432. "Famous Gamosa of Assam, Tandur Redgram of Telangana, RaktseyKarpo Apricot of Ladakh, Alibag White Onion of Maharashtra have got their GI tags," it said.
India's exports jumped 45.76 per cent to $33.28 billion in August on account of healthy growth in segments like engineering, petroleum products, gems and jewellery and chemicals, even as the trade deficit widened to a four-month high of $13.81 billion.
India and Pakistan agreed last year on a number of steps aimed at increasing bilateral trade.
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.
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.
Total foreign direct investment (FDI) inflow to India declined to $74.01 billion in the calendar year 2021, which is 15 per cent lower from $87.55 billion recorded in the previous year, the ministry of commerce & industry said on Wednesday. The FDI inflow includes equity inflow, equity capital of unincorporated bodies, re-invested earnings and other capital. "FDI is largely a matter of commercial business decisions and FDI inflow depends on a host of factors such as availability of natural resource, market size, infrastructure, political and general investment climate as well as macro-economic stability and investment decision of foreign investors.
In September, 2010, the country's outbound shipments were valued at $18.2 billion.
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 petitioner's lawyer interjected the rules are being framed for the last 5-6 years but nothing concrete has been done yet.
Gogoi and Sarma have been locked in a war of words on 'X' since Wednesday on the issue of the chief minister's wife's company allegedly being given a credit subsidy of Rs 10 crore.
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.
The commerce ministry has mandated bar coding on all medicine packs meant for exports from July 1, to trace and track these medicines to its source of origin. The move is in response to quality concerns raised against Indian drugs by some African countries.
Breaking its silence on reports that Chinese telecom equipment makers are being banned in India on security reasons, Beijing on Monday urged New Delhi to remove restrictions and said such curbs amount to discrimination.
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