“Enabling provisions are made for exempting inputs imported by Advance Authorisation holders and EOUs from mandatory Quality Control Orders (QCOs),” the Directorate General of Foreign Trade (DGFT) said in a notification. The unutilised material will be destroyed in the presence of jurisdictional GST/customs authorities, it added.
Government exempts certain exporting units from quality control orders with conditions
The commerce ministry said that amid global economic uncertainties and supply chain disruptions, extending RoDTEP benefits to the uncovered sectors like AA (advance authorisation), EOUs, and SEZ units will help the exporting community in handling the international headwinds.
Earlier, UK Secretary of State for Business and Trade Kemi Badenoch said that while a trade deal with India is “possible” to be concluded before a general election in the country, Britain does not want to use that as a deadline. “We can actually sign an agreement before the Indian election. I suspect that that […]
The UK trade deal with India could be concluded before the general election, but no deadline has been set. UK Secretary of State for Business and Trade Kemi Badenoch emphasized the importance of a commercially meaningful pact and discussed the ongoing negotiations and concerns
The agreement has several chapters, including trade in goods, rules of origin, intellectual property rights, trade in services, investment promotion and cooperation, trade and sustainable development, and trade facilitation. New Delhi has sought $100 billion of committed investments from the grouping and is considering giving quota-based duty concessions on gold imports from Switzerland.
The envoy asserted that US President Joe Biden in the past had emphasized that trade between India and America should rise to the level of USD 500 billion given the potential for expansion. Efforts are on achieve this goal, said the Ambassador who took charge of his new diplomatic assignment last year.
India’s rise in the global economy positions it to become the largest member of the World Trade Centers Association (WTCA) within five years, potentially surpassing China. John E. Drew, WTCA Chairman, discusses the brand’s presence in India, emphasizing a longstanding relationship and robust plans for expansion.
Kazakhstan aims to increase trade with India through the International North South Transport Corridor (INSTC), which connects Russia, Kazakhstan, Turkmenistan, and Iran. Plans for a joint venture and modernization of checkpoints are underway to improve transportation along the corridor.
“(Mobile phones worth) $11 billion were exported last year. In the coming days, you will see exports to the tune of $50-60 billion. 10 lakh people work in electronics manufacturing. In the coming days, 25 lakh people will work in electronics manufacturing,” Vaishnaw said while sharing a presentation on India’s growth story.
India is the world’s largest centre for diamond cutting and polishing, accounting for around 95 per cent of the world’s polished diamond production, while the US and China are the primary consuming markets, together accounting for around 65 percent of the country’s exports.