Cabinet approves Rs 76,220 crore Vadhavan port

EU’s ESPR regulation, criticized by GTRI, may raise costs and impact exports from developing nations due to stringent sustainability standards and Digital Product Passport requirement.

India’s seafood exports saw a 3% rise in volume but an 8% decline in value for the fiscal year 2023-24, totaling 1,781,602 MT valued at USD 7.38 billion. Frozen shrimp remained the top item, with the US leading as the largest market, followed by China and the European Union.

India’s merchandise exports rose by 9.1% to USD 38.1 billion in May compared to last year, with a modest 1.1% increase from April, driven by both oil and non-oil sectors. Imports surged by 7.7% to USD 61.2 billion, mainly due to oil and core imports, widening the trade deficit to USD 23.8 billion.

India allows duty free import of inputs used for manufacturing for exports subject in advance authorisation to export obligation period in which exporters have to ship the goods within a stipulated time period otherwise they’re penalised. The Directorate General of Foreign Trade (DGFT) has sought comments of all the concerned stakeholders on the proposed amendments […]

India’s central government is unlikely to remove the 40% export duty on onions imposed last month, as domestic onion prices have almost doubled in the last month. The average rate of onions at the benchmark Lasalgaon APMC was Rs 28/kg on Tuesday, up 40% in the last 15 days and double of what it was […]

US agri trade body Cotton Council International (CCI) has called for the removal of the 11% import duty on shorter staple cotton below 32mm length, which came into effect in 2021. The duty affects India’s domestic textile industry, which is projected to grow to $350 billion by 2025. CCI and Supima, a non-profit trade association, […]

The Government prohibited export of De-oiled Ricebran on July 28, of last year attributing it to the high fodder prices as De-oiled Ricebran is a major component. The ban, which was initially till March 31, 2024, was later extended up to July 31, 2024.

India and the European Union failed to reach an agreement at the WTO on concessions related to safeguard measures on steel imports, impacting India’s imports.