IT hardware companies seek clarity on import licensing process

The Indian IT hardware industry wants the government to provide clarity on operational details for import licenses so they are able to make contingency plans, senior executives have said. The current lack of clarity includes details around quota, validity of licence, whether there is demand for single or multiple licences for different ports, and whether […]

CII national committee on EXIM Sanjay Budhia said that since all exports and imports and settlement of trade transactions under this arrangement may be denominated and invoiced in INR, this would also reduce dependence on the US Dollar and would address situations like scarcity of forex reserves apart from strengthening regional currency and trade.

India and the 27-nation bloc resumed negotiations on June 17 last year after a gap of over eight years on the proposed agreements on trade, investments and Geographical Indications (GI). India had started negotiations for a trade pact with the EU in 2007, but the talks stalled in 2013 as both sides failed to reach […]

Agricultural economist and NITI Aayog member Ramesh Chand has stated that India can export 20-22 million metric tonnes (MMT) of rice without any impact on domestic food security. The government has banned non-basmati white rice exports because the global demand had skyrocketed, and there was concern India could end up exporting over 30 million tonnes.

Commerce secretary Sunil Barthwal Friday said India and Peru have decided to resume negotiations for a proposed free trade agreement (FTA). “We have decided to proceed with the FTA negotiations. We would be working out the priority areas… Post September, we will start engaging,” he said on the sidelines of India-Latin America and the Caribbean […]

In a notification issued late night, the Directorate General of Foreign Trade (DGFT) gave “liberal transitional arrangements” for such imports and said that its August 3 notification on import restrictions will be effective from November 2023.

India’s Food Secretary on Friday said that the nation is considering to cut import tax on wheat. He said that the government is committed to control inflation in India.

At the CII India-Latin America & Caribbean (LAC) Region Conclave, Piyush Goyal said that at the last WTO ministerial, many countries were trying to divide such countries through “small sops”.

The age-old mechanism of placing exporters who fail to bring in foreign exchange in time on the ‘caution list’ may be examined. An internal working group of the Reserve Bank of India (RBI) has recommended rationalisation of the caution-listing process, two persons told ET.