The government has extended the minimum export price (MEP) of $2,000 per tonne on natural honey until December 31, 2025. This measure, originally imposed in March 2023, applies to exports below this value, with major destinations being the US and UAE.
Govt extends MEP on honey, imposes minimum import price on soda ash
India has begun a countervailing duty investigation on increased imports of Calcium Carbonate Filler Masterbatch from Vietnam, following a complaint by domestic manufacturers. The probe aims to determine the impact of subsidized imports and may result in duties to protect Indian industries.
India’s exports to Australia see a 14% growth due to the ECTA, with significant increases in textiles, chemicals, and agriculture. Bilateral trade continues strong, reaching $16.3 billion in April-November 2024. Enhanced market access benefits Indian MSMEs and farmers, promoting a target of AUD 100 billion trade by 2030.
India’s exports to Australia have increased by 14% since signing the ECTA, with substantial growth in textiles, chemicals, and agriculture. Bilateral merchandise trade doubled to $26 billion in FY23. The current momentum reflects strong trade values bolstered by essential raw materials and expanded market access for Indian exporters.
India’s exports to Australia surged by 64.4% year-on-year in November, driven by growth in textiles, chemicals, and agricultural products. Despite a 5.21% decline in overall merchandise exports, the Economic Cooperation and Trade Agreement (ECTA) has expanded market access and employment opportunities, enabling India to aim for AUD 100 billion trade by 2030.
A high-level Indian delegation visited South Korea to promote India’s maritime growth and seek collaborations with Korean shipbuilders. India aims to attract foreign partners to enhance its shipbuilding ecosystem as it lags far behind global leaders like China, South Korea, and Japan. The government is addressing challenges by introducing bills and pooling ship requirements to […]
India’s Directorate General of Trade Remedies initiates probes into alleged dumping of nylon filament yarn from China and Vietnam, and TDQ from China. Century Enka, Gujarat Polyfilms, and Oriilon India, alongside NOCIL Ltd, filed applications. If dumping is confirmed, anti-dumping duties will be recommended to protect domestic industries.
Gradual recovery in developed markets, focus on key products boost export prospects for 2025
1 year ago
India’s export sector is poised for growth in high-value areas like machinery and electronics despite global uncertainties. The commerce ministry is formulating strategies to boost exports, with a focus on 20 key countries. Additionally, a potential shift in US trade policies under Donald Trump could present new opportunities and challenges.
The Indian rupee’s 2.34% depreciation against the US dollar from December 2023 to December 2024 is expected to increase India’s import bill by about USD 15 billion. Gold and industrial goods imports from China, priced in USD, will be significantly affected, while a 5% drop in Brent crude prices mitigates some of the impact on […]
India has imposed a six-month import restriction on low ash metallurgical coke from January 1, 2025, limiting imports from countries including Australia, China, and Russia. Import authorisation from DGFT is required, with country-specific quantitative restrictions in place during this period to ensure controlled imports within the specified limits.