The U.S. Bureau of Industry & Security has removed three Indian entities, Indian Rare Earths, IGCAR, and BARC, from its restrictive list. This move aims to boost joint research and collaboration in science and technology, particularly in the energy sector, strengthening bilateral ties and energy security.
US lifts decades-old restrictions on BARC, IGCAR and Indian Rare Earths in diplomatic breakthrough with India
India’s electronics exports saw a significant increase of 35.11 per cent to USD 3.58 billion in December 2024, the highest in 24 months, highlighting the country’s growing electronics manufacturing sector. This growth is fueled by favourable government policies, rising global demand, and expanding domestic production.
Budget 2025: Commerce Min may seek 5-year extension of interest equalisation scheme for exporters
1 year ago
Union Budget 2025: The commerce ministry plans to request an extension of the interest equalisation scheme for rupee export credit in the upcoming Budget. The scheme supports exporters amid global economic challenges by offering subsidies. It initially started in 2015 and has received several extensions. Exporters advocate for its continuation, highlighting its role in maintaining […]
India’s commerce and revenue departments, along with BCAS, are creating a standard procedure to enable e-commerce export hubs. DHL, Lexship, goGlocal, Shiprocket, and Cargo Service Center have received approvals to set up these hubs in major cities. These hubs will facilitate expedited customs, security clearances, and re-import policies, boosting e-commerce export growth.
The UK government has relaunched Free Trade Agreement (FTA) talks with India, aiming to enhance their bilateral relationship, focusing on trade and green technologies. Foreign Secretary David Lammy highlighted meetings with Indian business leaders and an invitation for his Indian counterpart. The FTA, which saw negotiations paused for elections, is set to resume, potentially boosting […]
India is finalizing fair and balanced free trade agreements (FTAs) only after extensive consultations, Commerce Minister Piyush Goyal said. Highlighting the $100 billion FDI commitment from EFTA and notable pacts with Australia and UAE, Goyal addressed India’s robust export figures and manufacturing growth, attributing successes to the government’s transformative governance principles.
India plans to enhance its textile and garment industry with financial support, reduced tariffs on crucial inputs, and local production incentives in its upcoming budget. The political turmoil in Bangladesh has led global retailers to consider India as an alternative, leading to increased export orders for Indian garment producers. The government may raise textile ministry […]
The weakening rupee is unlikely to significantly impact India’s trade balance, inflation, or growth prospects despite hurting importers. Limited commodity price rises and weak global growth, especially in China, help mitigate imported inflation. Excessive rupee interventions may hinder growth and further strain forex reserves and liquidity.
The DGFT, part of the Commerce Ministry, has updated the export policy for all products to improve the ease of doing business. This updated policy is in line with the Finance Act 2024 and includes detailed conditions for each item. This will help in understanding policy requirements for all goods, classified under the Indian Trade […]
India’s electronics, solar and electric vehicle sectors are struggling to obtain essential high-tech machinery due to China’s recent halt in exports. This move aims to impede manufacturing growth in India for firms like Foxconn and BYD, causing potential setbacks and increased costs. The Indian government is considering measures to mitigate these impacts.