The government recovered Rs 852 crore under the amnesty scheme for exporters for one-time settlement of default in export obligation. The scheme, part of the new foreign trade policy, aims to settle default in export obligation by holders of advance and EPCG authorisations. Small exporters in Ludhiana have urged an extension of the scheme.
Govt recovers Rs 852 crore under amnesty scheme for exporters
An Indian delegation visited ports in the United Arab Emirates, including the Port of Fujairah, to discuss kickstarting the India-UAE leg of the proposed India-Middle East-Europe Economic Corridor (IMEC) with customs authorities. The visit aimed at preparing the India-UAE leg of the IMEC while awaiting peace in the region for the Israel part.
Speaking at a panel discussion at CII Annual Business Summit, Jaishankar said that as far as national security goes, it is more complex with China.
India’s spice export may fall 40 pc if EtO contamination issue not resolved quickly: FISS
1 year ago
The Federation of Indian Spice Stakeholders (FISS) on Friday said India’s spice export may decline nearly 40 per cent in FY25 if the issue of ethylene oxide or EtO contamination in spices meant for exports is not addressed at the earliest. The statement came against the backdrop of Hong Kong and Singapore banning the sale […]
The Directorate General of Foreign Trade (DGFT) is exploring global trade finance practices to align with India’s future needs. Over 2.5 lakh bank realisation certificates (BRCs) have been self-generated under the revamped eBRC system, boosting ease of doing business. Stakeholders emphasize the importance of data flow in export credit and aim to enhance the trade […]
India’s External Affairs Minister S Jaishankar highlighted that the growing trade between India and Russia is not a passing trend but a result of emerging economic prospects. He emphasised the long-standing relationship between the two nations despite India’s stance on the Ukraine conflict. Trade has seen a significant increase with India becoming a top buyer […]
The apex exporters body also hasn’t ruled out dumping of Chinese goods in the wake of the US imposing high duties on goods such as EVs, batteries and high end technology products.
In New Delhi, on Thursday, FIEO President Ashwini Kumar projects India’s merchandise exports to reach USD 500-510 billion by 2024-25, with services exports expected to be around USD 390-400 billion this fiscal, driven by traditional markets like the US and Europe.
The US warns of potential sanctions on dealings with Iran after India signs a 10-year contract on Chabahar Port. External Affairs Minister S Jaishankar stresses the project’s regional benefits, citing past US acknowledgment. India Ports Global Ltd has operated in Chabahar since 2018 under a sanctions waiver. Despite US warnings, India aims to avoid involving […]