The stress period for the steel industry is over as India’s steel exports have increased by 57% and imports have decreased by 34%, reported by the government in Rajya Sabha. By 2030, the government wants to make steel output of India to 300 million tonnes which are now about 120 million tonnes, said by the […]
First time India becomes a net exporter of power
In the April¬-February period of this fiscal, for the first time ever India has become a net exporter of electricity. The designated authority of the government of India for cross-border trade of electricity first time India has turned around from a net importer of electricity to net exporter of electricity As per Central Electricity Authority […]
The Fruit import from India impacted by Bangladesh’s high duty on Orange import
By Bangladesh, The heavy duty on import of Indian oranges is impacting the exports tremendously. As in between India and Bangladesh, the export demand is reducing every year owing to the high import duty and absence of any agreement on sales terms the Indian orange farmers and traders are seeing a fall in sales to […]
In Feb Indian Gold Jewellery Exports Down 47%
In February 2017, by 47% The Gold jewellery exports from India have fallen due to the jewellery routed through UAE is badly impacted. The two major factors impacting the gold export from India is UAE w.e.f from January 1st, 2017 imposes 5% import duty on jewellery and The Indian government has a 10% import duty […]
Government removed ban on export of edible oil in bulk after nine years
After a period of nine years, the bulk export of few selected edible oils has been allowed by the Indian Government. On Monday the office of the Director General of Foreign Trade had released a notification and announced that “Exports of sesame oil, groundnut oil, soybean oil and maize (corn) oil in bulk, regardless of […]
On six commodities India removes the import restrictions from Vietnam
On the import of six commodities, India has taken away the restrictions from Vietnam that include coffee beans after the phytosanitary issues were resolved. On imports of five items from India, Vietnam had lifted the ban just a day back, when the latter worked on to improve pest management. Vietnam had banned imports of pods […]
On sunflower seed, the import levy has been cut down by Govt to 10%
The Indian Government in acknowledgement with the time long demands of the trade industry decided to slash down the import duty on sunflower seeds and made the duty from the earlier 30 % to 10 % on March 23rd, 2017. In this regard, The Department of Revenue of the Ministry of Finance released a notice […]
On chana, Govt considering putting 25% import levy to save farmers
As a bumper crop is being expected, so on chana for safeguarding the domestic farmers from rate fall and to cut down on the shipments, the centre is thinking to introduce a duty of 25 per cent on import. As the monsoon was good, so in this season India is expecting a harvest of 22 […]
Due to slowdown in services exports and remittances, Country’s current account deficit widens
In the December 2016 quarter, The Current account deficit (CAD) of the country increased even when the trade deficit was lower. Because of a slowdown in the international market and due to demonetization and deposits by non-resident and global Indians fell down this increase in CAD was seen because the services exports also dipped down. […]
Groundnut exporters shifted to domestic retail business
Like in the local markets peanut butter and confectionaries, Indian Groundnut exporters are moving to retail businesses. There is a falling demand from the South Asian markets like Vietnam, so this development has occurred. With the increase in demand in the domestic market, but in a very small manner Value addition in groundnut is happening […]
