The Central Board of Indirect Taxes and Customs is launching a new facility for manufacturer importers. Approved companies can now defer customs duty payments. This move aims to boost cash flow and support domestic manufacturing. The scheme will be operational from April 1, 2026, to March 31, 2028. Eligible firms will pay duties monthly instead […]
CBIC introduces deferred customs duty payment facility for manufacturers-importers
Indian exports of rice, tea, and fruits to Africa and West Asia face significant disruption. Joint military operations by the US and Israel, and Iran’s retaliation, are expected to impact maritime traffic. This could lead to longer shipping times and increased costs for goods destined for Western markets. The situation creates uncertainty for major buyers […]
India’s Directorate General (DG) of Shipping issued advisories for seafarers presently in Iran, Strait of Hormuz, Persian Gulf and adjacent waters including those awaiting joining of vessels or awaiting wages and safe repatriation after sign-off. In a separate advisory for Indian flagged vessels, the DG shipping said all ships operating in or near the region […]
Canada-India negotiating economic partnership agreement to double two-way trade by 2030: PM Carney
2 months ago
Canadian Prime Minister Mark Carney announced that Canada is negotiating a comprehensive economic partnership agreement with India, aiming to double bilateral trade by 2030. The agreement is expected to be signed by the end of the year. Carney highlighted opportunities in food, energy, critical minerals, and technology, emphasizing a strategic partnership for mutual prosperity and […]
India, European Union to give each other Most Favoured Nation status for 5 years in trade deal
2 months ago
India-EU FTA: India and the EU are set to grant each other Most Favoured Nation status, a key provision in trade deal. This agreement, expected to boost bilateral trade significantly by reducing tariffs on most goods, also includes commitments on digital trade and customs cooperation.
Union minister Sarbananda Sonowal inaugurates three projects to bolster inland waterways on Brahmaputra in Dibrugarh
2 months ago
The projects include the Customs and Immigration Complex at Bogibeel, the Customs and Immigration Complex at Dhubri, and the renovated Heritage Building of the Inland Waterways Authority of India (IWAI) at Dibrugarh.
India-EU FTA: Among other things, the text allows rejected EU applicant to seek written explanation of reasons for why import license application was rejected and then allows for reapplication.
India and the European Union have concluded negotiations for a free trade agreement. A key feature is an annexure for mediation to resolve disputes. This aims for a mutually agreed solution through an expeditious procedure. The pact is expected to be implemented next year. It will boost trade and create a market of two billion […]
India’s Commerce Minister Piyush Goyal stated the proposed India-US trade deal will be rebalanced if circumstances change. New Delhi will protect its economic interests as US tariff signals evolve. Discussions are ongoing. India remains confident in its export growth despite global trade headwinds. Sensitive sectors like agriculture and dairy are protected in the deal.
Canadian Prime Minister Mark Carney is visiting India to improve relations. He aims to sign a trade agreement and strengthen economic ties. This visit is part of a broader strategy to diversify Canada’s global partnerships. Carney’s foreign policy focuses on reducing reliance on the United States. He is also scheduled to visit Australia and Japan.