Government exempts IGST on ocean freight from October 1

Diamond industry associations ask members to temporarily stop import of rough diamonds

2 years ago
The gems and jewellery industry in India has urged its members to stop importing rough diamonds for two months starting from October 15. This move comes as a result of slowing global demand and rising inventories of domestic players. The circular, issued jointly by various industry associations, highlighted the decline in exports and the increase […]
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Canada’s lentil sales to India slow after Trudeau raised murder suspicions

2 years ago
Canadian lentil sales to India have slowed down after Canadian Prime Minister Justin Trudeau accused India of involvement in an assassination on Canadian soil. This has led to fears of reprisal from India, potentially limiting trade between the two countries. India is the main importer of lentils from Canada, and reduced purchases could impact Canadian […]
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Traders flag slow labour-intensive exports’ growth

2 years ago
Exporters in India have expressed concerns about the slow growth of labour-intensive exports such as garments, gems and jewellery, marine products, and plastics compared to countries like Bangladesh, China, and Vietnam. The Federation of Indian Export Organisations (FIEO) analyzed the sector-wise export performance over the past five years and found that India’s market share in […]
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Govt extends support under RoDTEP scheme till June 30, 2024

2 years ago
The Indian government has extended support under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme until June 30, 2024. The scheme provides reimbursement of taxes, duties, and levies incurred by export entities during the manufacturing and distribution of exported products. The extension aims to help exporters negotiate better terms in the international […]
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India’s export of cut, polished diamonds may fall by 22 pc in FY24 on sluggish demand: Icra

2 years ago
India’s export of cut and polished diamonds is expected to decline by 22% to USD 17.2 billion in the current fiscal year, according to rating agency Icra. The decline is attributed to weakened demand from key consuming nations such as the US and Europe, as well as limited demand from China. Additionally, competition from lab-grown […]
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