Registration-cum-membership certificate not mandatory for exporters to seek scheme benefits: DGFT

DGFT confirms that exporters do not need a Registration-cum-Membership Certificate to receive benefits under schemes such as duty drawback and remission of state levies. These include schemes like RoSCTL and RoDTEP. Import of exhibits for fairs will also follow specific norms, without needing import authorization or registration under Import Monitoring Systems, subject to compliance.

The 44th ASEAN summit and the 21st ASEAN-India summit will occur this week in Vientiane. The meetings will focus on connectivity and resilience. Indian Prime Minister will attend various summits, showcasing India’s active engagement with ASEAN. The summit aims to strengthen economic cooperation, digital collaboration, and overall partnership, impacting Indo-Pacific stability.

India has eased certain provisions in its bilateral investment treaty with the UAE, shortening the dispute resolution period to three years and including short-term portfolio investments. This new treaty, effective from August 31, replaces the earlier agreement and aims to boost investor confidence by assuring fair treatment and providing an independent arbitration forum for dispute […]

India and UAE plan to boost investment, potentially reaching $100 billion. This includes sectors like energy, AI, and food processing. A new food corridor aims to bring $2 billion in investments. Significant gains are seen in bilateral trade and FDI under the Comprehensive Economic Partnership Agreement. An Invest India office will open in Dubai, fostering […]

India’s bilateral investment treaty with UAE now includes portfolio investments and reduces the local remedies exhaustion period from five to three years. This change, making the treaty more investor-friendly, exposes India to more arbitration cases, potentially challenging its regulatory decisions and signaling a softer stance on protecting sovereign decision-making.

The Reserve Bank of India signed a Currency Swap Agreement with the Maldives Monetary Authority. Maldives will receive up to USD 400 million and Rs 30 billion. The agreement is valid until June 18, 2027. This move will help the Maldives manage foreign exchange reserves. The SAARC Currency Swap Framework started in 2012 for short-term […]

India and the UAE will jointly create a food corridor with a USD 2 billion investment, enhancing Indian farmers’ incomes and job opportunities. A small working group will oversee the establishment of food parks and processing facilities to ensure food security for the UAE, slated for completion within two-and-a-half years.

India and the EU are set to hold the next round of FTA negotiations in early next year. Limited progress was achieved on rules of origin and government procurement. Positive discussions took place on market access for goods, sectoral annexes, and professional qualifications recognition.

South African importers and consumers have expressed relief as India withdraws its ban on non-basmati white rice exports, imposing a floor price of USD 490 per tonne. The eased restrictions are expected to stabilize global rice prices and meet South Africa’s annual demand of 10 million tonnes.

Indonesia plans to extend the duties by two years till November 2026, a move that may further hurt India’s exports of the product to the island nation. The safeguard duties were first imposed in 2018 and India’s exports of ceramic products to Indonesia have declined 65% between FY20 and FY24. “The result of the consultations […]