The government has restricted the import of parts for pocket lighters to boost domestic manufacturing and reduce dependency on Chinese imports. This follows previous bans on low-cost and specific types of lighters, along with quality control measures. The import value of lighter parts from China was $3.8 million during April-July this fiscal.
Govt imposes import curbs on parts of pocket lighters; to reduce dependence on China
FEBI to push FTA negotiations between India and Europe, says German Ambassador Philipp Ackermann
2 years ago
FEBI launched in Delhi to push FTA negotiations between India and Europe, fostering collaboration among over 100 European companies. German Ambassador Ackermann acknowledges FEBI’s significance in strengthening EU-Indo business ties and expresses condolences on Ratan Tata’s death, lauding his legacy.
Government officials and industry stakeholders addressed liquidity challenges, taxation issues for Indian seafarers, and the need to shift commodity import contracts from CIF to FOB to boost the shipping sector. The discussions aim to increase India’s share in international trade amid rising shipping costs and export slowdowns.
Indian pharma, electronics industries poised to gain from US investment restrictions in China
2 years ago
India may benefit from the US restricting investments in China, leading global companies to reduce exposure there. This shift could boost India’s pharmaceutical and consumer electronics sectors, as investments redirect to receptive regions with growing manufacturing competitiveness like ASEAN and India.
Extraneous elements slowing down India-EU trade pact talks, CBAM & EUDR unfair: Piyush Goyal
2 years ago
Indian Commerce and Industry Minister Piyush Goyal criticized the EU’s deforestation and CBAM regulations as unfair to Indian industries. He emphasized the need for mutual cooperation and highlighted India’s interest in a fast-tracked free trade agreement with the EU, focusing solely on trade issues. Goyal also expressed concerns over the EU’s safeguard measures on steel […]
Former US President Donald Trump, during a speech in Detroit, emphasized his commitment to imposing reciprocal taxes if re-elected. He cited India’s high tariffs on imports while praising Prime Minister Modi’s leadership and the US-India relationship. Trump also referenced previous discussions about Harley-Davidson’s challenges with India’s tariffs.
India’s palm oil imports in September dropped over 33% from August, totaling 527,314 metric tons, according to the Solvent Extractors’ Association of India (SEA). Soyoil imports also fell by 15.4% to 384,382 tons, while sunflower oil imports decreased by 46.2% to 152,803 tons. Overall, total vegetable oil imports declined by more than 30% to 1.1 […]
The World Trade Organization adjusts its 2024 global trade growth forecast to 2.7%, citing gradual recovery despite risks from Middle East conflicts and diverging monetary policies. Projections for 2025 suggest a 3% growth if geopolitical tensions remain contained.
India’s pharma, meditech exports expected to sustain momentum despite global slowdown: Official
2 years ago
India’s pharmaceutical and meditech exports continue to grow despite global economic slowdown, with robust double-digit growth. Government-backed drug development initiatives have 16 blockbuster molecules in the pipeline for cancer, diabetes, HIV, and more. The industry is also expanding in imaging devices, body implants, and diagnostics.
Registration-cum-membership certificate not mandatory for exporters to seek scheme benefits: DGFT
2 years ago
DGFT confirms that exporters do not need a Registration-cum-Membership Certificate to receive benefits under schemes such as duty drawback and remission of state levies. These include schemes like RoSCTL and RoDTEP. Import of exhibits for fairs will also follow specific norms, without needing import authorization or registration under Import Monitoring Systems, subject to compliance.