“MIP on synthetic knitted fabrics is extended from September 15 to December 31,” the Directorate General of Foreign Trade (DGFT) said in a notification. The MIP was also extended for eight new kinds of knitted fabrics including printed, bleached, unbleached and crocheted fabrics.
Govt extends minimum import price on synthetic knitted fabrics till Dec 31
India announces policy conditions for halal meat exports starting October 16. Only meat processed in facilities certified under the ‘India Conformity Assessment Scheme (I-CAS) – Halal’ will be allowed to 15 countries, including UAE, Saudi Arabia, and Bangladesh, ensuring compliance with halal certification requirements.
Commerce Minister Piyush Goyal invited American companies to invest in India’s electronics, data infrastructure, and logistics sectors during his US visit. He met with Blackstone, Amneal Pharmaceuticals, KKR, Warburg Pincus, and BlackRock to discuss collaborations in advanced manufacturing, pharmaceuticals, and AI. Goyal highlighted India’s potential in high-tech production and the Make in India initiative.
India’s Directorate General of Trade Remedies has begun investigations into alleged dumping of six products from China, based on complaints from domestic industries. The probes cover chemicals, electrical steel, and toner cartridges, and may lead to anti-dumping duties to protect local businesses if material injury is confirmed.
Interest equalisation scheme for exporters extended for another 3 months; capped at Rs 50 lakh
1 year ago
The government has extended the interest equalisation scheme for pre- and post-shipment rupee export credit till December 31, 2024. This move aims to support exports and MSMEs amid global economic challenges. The scheme, which ended on September 30, provides exporters with competitive rupee export credit rates. A cap of Rs 50 lakh has been set […]
India has launched an anti-dumping probe into the import of Cold-Rolled Non-oriented Electrical Steel (CRNO) from China. This action follows complaints from South Korean and Taiwanese steel makers. The investigation period runs from April 2023 to March 2024. Initial findings suggest that dumped imports are harming domestic industry.
India should accept the end of benefits under the US GSP scheme and not seek their return in future talks. Think tank GTRI suggests this, arguing the benefits were minimal. Commerce Minister Piyush Goyal will focus on broader trade discussions during the upcoming India-US Commercial Dialogue. India’s trade with the US remains robust, and the […]
The government extends the RoDTEP scheme benefits for exports from DTA units until September 30, 2025, and for AA/EOU/SEZ units until December 31, 2024. The scheme, aiding substantial export values with tax refunds, has updated rates effective from October 10, 2023, once the ICEGATE portal updates.
India’s clean oil-product exports surged to their highest since March 2022, driven by increased demand from Europe and Africa due to refinery shutdowns. In September, shipments of diesel, gasoline, and jet fuel reached 1.5 million barrels a day, marking a 39% year-on-year increase. European refinery maintenance and poor margins contributed to this spike.
India has lifted its ban on the export of non-basmati white rice, a move welcomed by exporters in West Bengal. The government also reduced the export duty on parboiled rice from 20 percent to 10 percent. This decision is expected to boost incomes for exporters and farmers with the upcoming kharif crop.