Amidst global challenges, India’s export sector is anticipated to thrive under Minister Goyal’s projections. Efforts to establish specific targets, navigate FTA negotiations, and preserve diamond export interests are crucial in sustaining India’s export growth trajectory.
Confident of $800 billion exports in FY25: Piyush Goyal
Confident of over $800 billion exports in goods, services this fiscal, says Piyush Goyal
2 years ago
India recorded a current account surplus of USD 5.7 billion or 0.6 per cent of GDP in the March quarter. This is the first time in ten quarters that the crucial metric of the country’s external strength has turned into surplus mode. In the year-ago period, the current account deficit stood at USD 1.3 billion […]
Exporters have raised concerns over the short two-month extension of the Interest Equalisation Scheme (IES), exclusively for MSMEs, impacting labor-intensive exports. FIEO president Ashwani Kumar emphasised the scheme’s broad benefits for various exporters and urged the Commerce Minister to restore the full scheme to support struggling sectors facing challenges like increased freight rates and rising […]
India’s steel and trade ministries are discussing the increasing imports of steel, especially the influx of cheap Chinese goods, according to a government source. The talks come amid ongoing requests from top producers for higher tariffs. India became a net steel importer in the fiscal year ending in March, with finished steel imports reaching a […]
Udupi Cochin Shipyard Limited bags Rs 1,100 crore order for cargo vessels from Norwegian firm
2 years ago
UCSL secured a Rs 1,100 crore deal for eight 6300 TDW cargo vessels from Wilson ASA. These vessels, designed for eco-friendly operation in European coastal waters, are part of a project to be completed by September 2028. The company has also delivered tugs to Adani Harbour Services and received repeat orders from Polestar Maritime.
JSW Infra has finalized an agreement to purchase all shares held by the promoters of Mumbai’s Navkar Corporation, which operates in the container handling sector, according to a disclosure to the stock exchange. Navkar Corporation offers a range of complementary products to the ports owned and managed by the Sajjan Jindal-group company. JSW Infra will […]
Pace of coal import growth declines from over 21 pc to below 2.5 pc in last decade: Govt
2 years ago
The annual growth rate of India’s coal imports declined to 2.49% in the past decade, down from 21.48% in the previous decade, reflecting progress towards energy self-reliance. The share of imported coal also decreased, with a compound annual growth rate of -2.29%. India aims to optimize its indigenous coal resources and leverage technology.
The scheme helps exporters from identified sectors and all MSME manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global economy is facing headwinds. Exporters get subsidies under the Interest Equalisation Scheme for pre and post-shipment rupee export credit.
Officials said while this would take care of the taxation issue for the first quarter, a final guideline for the second quarter onwards will be given in the upcoming budget in July. Both the countries had reached a deal in November, 2021 that allowed New Delhi to impose the 2% levy until March 31, 2024, […]
India’s Ambassador advocates for a bilateral agreement with Bulgaria to employ third-country workers, aligning with existing agreements in Europe. This strategic move aims to enhance economic cooperation and provide skilled manpower to Bulgarian employers, further solidifying the strong economic and cultural ties between the two nations.