India’s engineering exports declined by 11% YoY to $8.53bn in June 2023, with shipments to the US, the EU, and China leading the drop, according to the Engineering Exports Promotion Council of India (EEPC). Exports to the US fell to $1.45bn, a 12.5% dip; to the EU slumped by 16.2% to $1.51bn and to China […]
India’s engineering exports see mixed fortunes in June; trade with Russia surges: EEPC
As per experts, at this rate, electronics is likely to emerge as the third largest category of exports in the coming quarters as its gap with the current gems and jewellery segment is narrowing fast. Electronics have overtaken chemicals and drugs and pharmaceuticals to jump from sixth largest exports category to become the fourth largest […]
Under the Market Access Initiatives (MAI) Scheme, startups and new exporters have been made eligible for airfare reimbursement to participate in overseas events while the ceiling for this incentive for existing exporters has been raised 20%.
Gautam Adani meets Sri Lankan President Wickremesinghe, discusses Colombo port, other projects
3 years ago
Adani Group Chairman Gautam Adani held a meeting with visiting Sri Lankan President Ranil Wickremesinghe to discuss multiple projects in the island nation. The discussions included the development of the Colombo Port West Container Terminal (WCT), the industrialist said.
India has removed retaliatory customs duties on eight US products. Among these were almonds, walnuts, and chickpeas as the country looks to resolve its trade disputes with the US. Retaliatory charges had been imposed on 28 US products in response to America’s decision to levy extra import taxes on certain steel and aluminium products. The […]
No loss to India due to removal of retaliatory customs duties on eight US products: Minister
3 years ago
India has agreed to remove retaliatory customs duties it imposed on eight US products including apples and lentils. The duties were imposed by India in retaliation to the US raising import duty on steel and aluminum. Indian Minister of State for Commerce and Industry Anupriya Patel said in a written reply to the Rajya Sabha […]
Around 200,000 tons of rice is being loaded at various Indian ports, and this quantity would be allowed to move out, said B.V. Krishna Rao, president of the Rice Exporters Association. But the government should also allow exporters with valid LCs to ship out their cargoes, Rao said.
Russia is not ruling out introducing quotas on the export of oil products to stabilise gasoline prices, Russian Deputy Prime Minister Alexander Novak said. He added that some refineries had postponed planned maintenance to a later date to meet rising demand.
Britain began free trade talks with India in January last year as it looks to establish its credentials as an independent trading nation after leaving the European Union and is seeking an Indo-Pacific tilt to its foreign policy.
Myanmar is hoping its India-built Sittwe Port will be a game changer in regional connectivity and boost its trade with India. The port, which is part of Kaladan multi-modal transit transport project, was opened on May 9. The project seeks to provide an alternative route for connectivity from India’s eastern coast to the north-eastern states […]