In a trade notice, the Directorate General of Foreign Trade said that the United Kingdom (UK) has replaced its existing origin declaration process under Generalized Scheme of Preferences (GSP) with the UK DCTS effective from June 19, 2023.
New rules to avail export concessions under UK scheme
The Directorate General of Foreign Trade (DGFT) in a notification, said that import of urea (for agriculture purpose) on government account shall be allowed either by designated state trading enterprises (STE) itself, or other entities authorised by the fertilizers department.
Shipping Ministry approves Rs 645 crores for 10 new waterways projects on Brahmaputra in Assam
2 years ago
From the construction of slipways at strategic locations such as Maya Ghat in Dhubri district and Majuli district to the establishment of passenger terminals at Ghagor in North Lakhimpur district and Bahari in Barpeta district, each proposal is meticulously designed to enhance connectivity and facilitate seamless transportation across the region.
The fourteenth round of free trade agreement (FTA) negotiations between India and the UK has concluded, with the next round expected to commence after the Indian general elections. The negotiations, which began in January 2022, aim to enhance bilateral trade, currently valued at around GBP 38.1 billion annually. Both sides remain committed to reaching an […]
Commerce Secretary Sunil Barthwal leads progressing India-UK FTA negotiations, aiming to enhance economic ties. Talks cover 26 chapters, including intellectual property rights, with bilateral trade data showing an increase to USD 20.36 billion.
Exports rise 11.9% to 11-month high in February
2 years ago
India’s Feb goods exports hit $41.40 billion, 11.9% up, with a $18.71 billion trade deficit. Merchandise exports increased 11.9% year-on-year to an 11-month high of $41.40 billion in February, while imports increased 12.2% a four-month high of $60.11 billion, led by gold imports which went up 133% to $6.15 billion.
India’s oilmeals export up 9 pc to nearly 5.16 lakh tonne in Feb on higher soyameal shipments
2 years ago
Oilmeals export in February rose 9% to 5.16 lakh tonnes, led by soyabean meal. Indian competitiveness faces threat from Argentina’s pricing, affecting export outlook. South Korea and Vietnam imports declined, showing shifting market dynamics.
Amid the threat of Houthi attacks on ships, a large share of diesel exports to Europe was diverted to transit via the Cape of Good Hope, avoiding the Red Sea and the shorter Suez Canal. The longer route means higher freight. This combined with weak east-west arbitrage helped attract more Indian diesel cargoes to Asia […]
JSW Infrastructure incorporates JSW JNPT Liquid Terminal Pvt Ltd in Mumbai for a port project at JNPT, Maharashtra. The subsidiary received a Letter of Intent for equipping, operation, maintenance, and transfer of liquid cargo berths LB3 and LB4. The LoI requires the incorporation of a special purpose vehicle within 30 days to fulfil the stated […]
In its report, done in collaboration with the Foundation for Economic Development, the Aayog has proposed a series of measures including boosting e-commerce exports, creating a comprehensive trade portal, promoting ease of merchandise exports, improving access to export finance and creation of one stop information channel for exporters.