Pakistan plans to import 100 more items from India from the next fiscal.
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
In the absence of progress on services negotiations in the WTO, India is sending a team of officials to Europe to strike a deal in the services area with the EU under the Bilateral Trade and Investment Agreement.
Commerce ministry will issue notices to 57 formally approved SEZs. If the notices are not replied to, the approvals will stand cancelled.
The Centre has asked the Maharashtra government to reduce the size of the Reliance Industries-promoted Mahamumbai SEZ as it involves acquisition of over 10,000 hectares of land.
The government on Wednesday said provisions of Press Note 2 (2005 series), which allowed 100 per cent foreign direct investment in townships
Going ahead with its festive sales as per schedule, companies such as Flipkart, Jabong, and Myntra are having week-long Valentines' Day sales, offering discounts of as much as 80 per cent. Amazon India is also offering discounts of almost 40 per cent.
India's medical devices imports surged 41 per cent to touch Rs 63,200 crore in 2021-22, led by a 48 per cent year-on-year (YoY) jump in imports from China to Rs 13,538 crore, the commerce ministry data analysed by the Association of Indian Medical Device Industry (AiMeD) has showed. Local industry players say this has led to several small and medium units to shut shop. Rakesh Vaid of Usha Fabs, a garments exporter, had started making N95 masks in his Gurgaon factory during the peak of the Covid-19 pandemic.
Negotiations on Singapore issues, that have remained a taboo for India, will be the main discussion point at the World Trade Organisation ministerial meeting in Cancun next month.
During 2013-14, total value of exports stood at $465.90 billion.
In a letter dated November 30, the PMO asked the commerce ministry to prepare a detailed note on the venture, in the anticipation that it would come up for discussion in Parliament.
India on Tuesday mooted a marketing policy for the sector though domestic players opposed any move to allow overseas investments in the retail space.
The International Monetary Fund (IMF) has lowered its real export growth forecast for India for 2008 to 13.2 per cent from its April forecast of 16.3 per cent.
The government has also ruled out the need for an amendment to the SEZ Act, as was demanded by Left parties.
The government has decided to examine the popular export promotion scheme -- the Export Promotion Credit Guarantee Scheme -- to prevent its misuse in the wake of a car import scam coming to light recently.
The world's largest steelmaker, Mittal Steel Co. will buy 36.7 per cent stake for $316 million in China's Hunan Valin Steel Tube & Wire Co.
The Spices Board will take part in 13 global fairs during the current financial year.
India and Australia are soon likely to initiate talks for a free trade agreement.
Even as the SEZ Board of Approval meeting, held in New Delhi on Thursday, deferred taking a decision on Essar's request to link its steel-based zone at Hazira
The entire exercise might become a cakewalk with India deciding to become a signatory to the 'Madrid Protocol'.\n
In a move that is likely to boost border trade between India and China, the commerce ministry is considering to expand the number of items traded through Nathu La in Sikkim.
A last-ditch attempt to rescue the Doha round of world trade talks is likely to be made towards the end of July at a Geneva meeting of 30 trade ministers from among the 150-member countries of the World Trade Organisation (WTO).
Country's largest gold importer MMTC Ltd has decided to join the SEZ bandwagon by setting up a gems and jewellery park in joint venture with a private player in the tax-free enclave.
In a bid to curb harassment of taxpayers, Sitharaman said, a faceless e-assessment scheme was launched in October to eliminate interface between an assessing officer and a taxpayer.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
As sanctions-hit Russia increasingly relies on consumer products from India, outbound shipments to Russia have started picking up for the second consecutive month in October. This comes after it witnessed contraction for six consecutive months starting March, commerce and industry ministry data showed. During October, India exported goods worth $280 million, up 3.7 per cent as compared to a year ago. It was led by demand for items such as vegetables, tea, coffee, chemicals as well as iron and steel products.
The wholesale price-based inflation declined to over two-year low of 3.85 per cent in January on easing prices of manufactured items, fuel and power, even though food articles remained expensive. This is the ninth straight month of decline in the rate of wholesale price-index (WPI) based inflation. The WPI inflation was 4.73 per cent in January and 13.43 per cent in February, last year.
The next six months may see the Centre notifying 100 special economic zones.
The decline in gold imports has helped in narrowing the country's trade deficit to $106.84 billion during the eight-month period under review as against $133.74 billion in the year-ago months.
Retail inflation, based on Consumer Price Index, hit a 15-month high of 4.88 per cent in November
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