The Global Trade Research Initiative (GTRI) said for this the CBIC (Central Board of Indirect Taxes and Customs) must use services of communication experts for help in drafting easy to understand notifications containing necessary details.
CBIC notifications use complex language; need simplification to help industry: GTRI
Indian Minister for Ports, Shipping and Waterways Sarbananda Sonowal highlights the Eastern Maritime Corridor (EMC) as an effective alternative for goods movement due to the geopolitical situation in the Red Sea and Suez Canal. He emphasizes the importance of India’s commitment to freedom of navigation and commerce, with measures taken for maritime security. Sonowal envisions […]
DGFT calls for e-commerce boost to transform India into a global leader in gold jewellery exports
2 years ago
The DGFT urges the Gem & Jewellery Export Promotion Council to promote e-commerce for gold jewellery exports, aiming to position India as a leading global supplier. Highlighting India’s significant gold buying power, DGFT stresses the need for streamlined exports across diverse demand.
India to protect poor fisherpeople, push for two-tier dispute resolution system at WTO meet
2 years ago
India will secure the interests of its poor fisherpeople at the upcoming WTO ministerial conference. New Delhi proposes allowing developing countries to give subsidies to their fisherpeople in their exclusive economic zone. India emphasizes polluter-pays and differentiated responsibility principles. India opposes the developed countries’ proposal for top subsidisers to notify the WTO of new subsidy […]
India’s coffee exports fell 5.4% in 2023
2 years ago
India’s coffee exports declined 5.4% in 2023 to 3.77 lakh tonne due to a fall in Robusta coffee shipments. Arabica and Robusta are the coffee varieties grown in India, with Arabica having a sweeter taste and Robusta being more bitter. The export of Robusta beans decreased by 15%, while Arabica beans saw a 5.79% increase.
India’s corn supplies tightening on strong local demand: Global trading firm Louis Dreyfus executive
2 years ago
Strong domestic demand is putting pressure on India’s corn supplies, leading to a tightening of the corn balance sheet, according to Garima Jain, Deputy CEO and Head of Grains for India at Louis Dreyfus Company. India, which has been a key corn exporter in Asia, is experiencing a decline in shipments due to increased local […]
The plan is to come up with a comprehensive action plan to bridge India’s trade deficit with China and align India’s trading strategies with emerging geopolitical situations and potential risks to safeguard its supply chains, which have seen major disruption during the outbreak of the pandemic.
Consensus on finding solution on food security issue at WTO meet next month difficult: GTRI
2 years ago
India’s top priorities for the MC13 include securing a permanent solution for its public stockholding (PSH) programme. This programme seeks flexibility in food procurement and pricing, crucial for India’s food security needs. The PSH programme is a policy tool under which the government procures crops like rice and wheat from farmers at minimum support price […]
India’s sunflower oil imports are set to decline as prices rally due to increased freight rates. Buyers are shifting to rival vegetable oils available at a discount. Recent Houthi attacks have compelled shipping companies to reroute trade, increasing time and costs. The elevated freight rates have lifted the landed cost of sunflower oil above that […]
The government has increased import duties on gold and silver finding and coins to 15%, including basic custom duty and ADIC. The new rates will be effective January 22. The government also increased import duties on silver dore, bars, and articles to align with gold and platinum import duties.