India’s diesel exports to Europe have dropped significantly, leading suppliers to shift focus to Africa and Asia. Increased refinery outputs in Europe and the US contributed to the decline. Africa now accounts for the largest share of Indian diesel exports, while overall refined product exports to Europe have decreased, with Asia and the Middle East […]
Indian refiners shift diesel supplies to Africa and Asia
India’s first e-commerce export hub is set to become operational by March, aiming to boost exports to USD 100 billion by 2030. The pilot launch includes companies like Shiprocket and DHL, with features such as self-sealing and easy reimport policies. Additionally, a new Diamond Imprest Authorisation scheme will start from April 1, promoting duty-free import […]
US lifts decades-old restrictions on BARC, IGCAR and Indian Rare Earths in diplomatic breakthrough with India
9 months ago
The U.S. Bureau of Industry & Security has removed three Indian entities, Indian Rare Earths, IGCAR, and BARC, from its restrictive list. This move aims to boost joint research and collaboration in science and technology, particularly in the energy sector, strengthening bilateral ties and energy security.
India’s electronics exports saw a significant increase of 35.11 per cent to USD 3.58 billion in December 2024, the highest in 24 months, highlighting the country’s growing electronics manufacturing sector. This growth is fueled by favourable government policies, rising global demand, and expanding domestic production.
India is finalizing fair and balanced free trade agreements (FTAs) only after extensive consultations, Commerce Minister Piyush Goyal said. Highlighting the $100 billion FDI commitment from EFTA and notable pacts with Australia and UAE, Goyal addressed India’s robust export figures and manufacturing growth, attributing successes to the government’s transformative governance principles.
The UK government has relaunched Free Trade Agreement (FTA) talks with India, aiming to enhance their bilateral relationship, focusing on trade and green technologies. Foreign Secretary David Lammy highlighted meetings with Indian business leaders and an invitation for his Indian counterpart. The FTA, which saw negotiations paused for elections, is set to resume, potentially boosting […]
India’s commerce and revenue departments, along with BCAS, are creating a standard procedure to enable e-commerce export hubs. DHL, Lexship, goGlocal, Shiprocket, and Cargo Service Center have received approvals to set up these hubs in major cities. These hubs will facilitate expedited customs, security clearances, and re-import policies, boosting e-commerce export growth.
Budget 2025: Commerce Min may seek 5-year extension of interest equalisation scheme for exporters
9 months ago
Union Budget 2025: The commerce ministry plans to request an extension of the interest equalisation scheme for rupee export credit in the upcoming Budget. The scheme supports exporters amid global economic challenges by offering subsidies. It initially started in 2015 and has received several extensions. Exporters advocate for its continuation, highlighting its role in maintaining […]
India plans to enhance its textile and garment industry with financial support, reduced tariffs on crucial inputs, and local production incentives in its upcoming budget. The political turmoil in Bangladesh has led global retailers to consider India as an alternative, leading to increased export orders for Indian garment producers. The government may raise textile ministry […]
India’s electronics, solar and electric vehicle sectors are struggling to obtain essential high-tech machinery due to China’s recent halt in exports. This move aims to impede manufacturing growth in India for firms like Foxconn and BYD, causing potential setbacks and increased costs. The Indian government is considering measures to mitigate these impacts.