The Central Board of Indirect Taxes and Customs (CBIC) has notified the exemption from Customs duty and Agriculture Infrastructure development Cess for import of cotton.
April 15, 2022According to the country's central bank, Nepal Rastra Bank, foreign currency reserves fell by more than 16 per cent to 1.17tn Nepali rupees ($9.59bn) in the seven months to the middle of February.
April 12, 2022According to the figures released by the Ministry of Commerce & Industry India’s exports, Merchandise and Services combined in February 2022 are estimated to be USD 57.03 Billion, exhibiting a positive growth of 25.41 per cent over the same period last year and a positive growth of 27.07 per cent over February 2020.
March 14, 2022The trade balance marked red ink for the fourth month in a row with imports rising for the 10th consecutive month on growing prices of crude oil from producers such as the United Arab Emirates.
December 16, 2021"Non-petroleum and non-gems and jewellery exports in September 2021 were $25.34 billion, as compared to $21.33 billion in September 2020, registering a positive growth of 18.82 per cent,"
October 14, 2021There are an estimated 139 million migrants in the country and due to the pandemic and the lockdown, about 400 million workers would be poverty-stricken.
October 1, 2020India, the world's largest milk-producing nation, has traditionally restricted dairy imports to protect the livelihoods of 80 million rural households involved in the industry.
February 14, 2020At present, imported open cell television panels attract five per cent customs duty. The South Korean giant also said it will continue to manufacture TV sets in India, and invest to enhance its capacity.
July 14, 2019The appeal was made following the observation of a 53 per cent jump in imports of readymade garments from Bangladesh, ITF Convenor, Prabhu Dhamodaran said in a statement here.
May 27, 2019In a major decision, RBI on Tuesday banned banks from issuing Letters of Undertaking (LoUs) — instruments used allegedly by diamantaire Nirav Modi and his uncle Mehul Choksi to defraud state-owned PNB of Rs nearly 13,000 crore in connivance of bank officials. The RBI said the decision to discontinue the practice of LoUs and Letters …
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March 13, 2018Industry chamber ASSOCHAM has urged the Centre to impose 10 per cent customs duty on import of hardwood chemical pulp and bleached chemi-thermo mechanical pulp to encourage domestic production. “The move will provide fillip to job creation and promote overall economic development of India’s vast rural hinterland housing pulpwood plantations,” the industry chamber said in …
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January 16, 2018The commerce ministry has pitched for reduction in import duty on gold in the forthcoming Budget with an aim to promote gold jewellery exports, a senior government official said. The Gems and Jewellery Export Promotion Council (GJEPC) has demanded cut in import duty on gold to 4 per cent from the current 10 per cent. …
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January 15, 2018India’s trade deficit with China stood at $36.73 billion for the period of April-October period, parliament was informed on Monday. Imports from China stood at $43.46 billion, while exports stood at $6.73 billion during the period under review, Minister of State for Commerce & Industry C.R. Choudhary told the Lok Sabha in a written reply. In …
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December 19, 2017An inter-ministerial panel headed by Finance Minister Arun Jaitley on 27 July reviewed edible oil availability in the country and discussed ways to deal with rising imports, sources said. Although no decision was taken by the inter-ministerial group (IMG), sources said, a cabinet secretary-led panel comprising secretaries from the ministries of finance, commerce, food and …
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July 28, 2017India's trade with African countries is likely to touch $117 billion by 2020-21 on account of improved economic ties and strong business opportunities, according to a report. Indian exports to the African continent are expected to grow to $70 billion by 2021-22 from $24 billion in 2015 -16 due to rising complementaries, the PHD Chamber …
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July 24, 2017Growth in Chinese exports and imports outstripped expectations in June, data showed on Thursday, fuelling hopes of stability in the world's second-largest economy. Exports rose 11.3 per cent from a year ago to $196.59 billion, the customs administration said, topping a Bloomberg News forecast of 8.9 per cent. Imports were up 17.2 per cent year-on-year …
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July 13, 2017The government may impose countervailing duty of 18.95 per cent on imports of certain kind of flat steel products from China to guard domestic players from cheap imports. In its final findings, the Directorate General of Anti- Dumping and Allied Duties (DGAD) has concluded that despite sufficient demand in India and capacities, the domestic industry …
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July 10, 2017