The DGFT, part of the Commerce Ministry, has updated the export policy for all products to improve the ease of doing business. This updated policy is in line with the Finance Act 2024 and includes detailed conditions for each item. This will help in understanding policy requirements for all goods, classified under the Indian Trade […]
DGFT updates export policy for every product to promote ease of doing business
The weakening rupee is unlikely to significantly impact India’s trade balance, inflation, or growth prospects despite hurting importers. Limited commodity price rises and weak global growth, especially in China, help mitigate imported inflation. Excessive rupee interventions may hinder growth and further strain forex reserves and liquidity.
Depreciation of the rupee against the US dollar is providing limited benefits to Indian exporters due to high import content in shipments and global market uncertainties. Exporters face increased costs for raw materials and other dollar-denominated expenses. This rise offsets the benefits of a weaker rupee. The falling rupee also impacts imports, foreign education, and […]
India will face over USD 14.6 bn in additional duties, if US imposes 20 per cent tariff: BCG Report
9 months ago
India’s trade is set to grow by 6.4% annually, reaching USD 1.8 trillion by 2033, driven by its potential as a global manufacturing hub. ASEAN’s trade is also expected to rise by 3.7% annually. The report highlights the impact of US tariffs on global trade dynamics and the increased focus on the Global South.
Apple has reached over ₹1 lakh crore in iPhone exports from India in 2024. Exports hit a record $12.8 billion, up 42% from the previous year. Local value addition increased to 15-20%, and domestic production surged nearly 46%. Apple secured $9 billion in exports in 2023, benefiting from the PLI scheme for smartphones.
Commerce Minister Piyush Goyal has assured garlic traders that their concerns over illegal Chinese garlic imports will be investigated. Traders highlighted the impact of these imports on the market and alleged that garlic was being routed via Afghanistan, Iran, and Iraq. Garlic imports to India stood at USD 7 million during April-October, mainly from Afghanistan […]
Planned investment of around Rs 50,000 crore over next five years for inland waterways: Sarbananda Sonowal
10 months ago
India plans to invest around Rs 50,000 crores to enhance its inland waterways over five years, with Rs 23,000 crores allocated for new national waterways and green shipping initiatives. The government is also developing shipbuilding and repair facilities across 111 national waterways, reducing logistics costs and boosting ancillary industries while focusing on the socio-economic well-being […]
Rosatom announced a record cargo shipment of 37.9 million tons via the Northern Sea Route in 2024. The year also marked the launch of new icebreakers and saw a record number of transit voyages and navigation permits. The development of the Great Northern Sea Route is poised to enhance connectivity across Russia, Europe, and the […]
The Odisha government announces support for a ₹4,000-crore ship recycling hub near Paradip port, two new ports at Inchuri and Bahuda with private sector participation, and investments in railway tracks for mineral evacuation. Hydrogen manufacturing is expected by 2026. The state also plans to develop data centres and an electronic city.
Goyal said the global demand for these products is about Rs 1 lakh crore, which can grow up to Rs 10 lakh crore in the coming years and asked startups to come out with solutions that help in growth of the sector. He also said the cooperative sector, farming sector and the trade sector will […]