India & China committed to promote a favourable environment to enable
continuous growth of bilateral trade and investment, strengthen their
efforts to promote more balanced and healthier development of trade and
economic cooperation and further enhance the closer development
partnership between two countries.
India to host Dubai like mega shopping fests to boost Exports:
As part of the steps taken to boost exports, India will organise annual
mega shopping festivals, similar to the ones held in Dubai, to
facilitate exchange between global producers and consumers, Finance
Minister Nirmala Sitharaman said recently.
She said that these "mega shopping festivals" will be held at four
destinations across the Country and their themes will vary.
The Govt is expected to soon announce measures for certain sectors,
including gems & jewellery, to boost the country’s subdued exports. For
Labour- intensive sector Govt is looking at cutting import duty on
coloured gem stones & polished diamonds from current 7.5%.
China and the United States have agreed to hold trade talks in early
October in Washington. Before that, trade teams from the two countries
will hold consultations in mid-September to take actions to create
favorable conditions, said China`s Commerce Ministry in a statement.
India will overtake China as the largest importer of coking coal by 2025,
Fitch Solutions Macro Research said on Friday. "We forecast India's coking
coal consumption to grow at an annual average rate of 5.4 per cent between
2019 and 2028, driven by an equally robust expansion in steel production in
July petrol imports hit highest in at least 8 years:
India's petrol imports rose to 230,000 tonnes in July, the highest since at
least April 2011, data from the Oil Ministry's Petroleum Planning and Analysis
with World : Export Promotion Schemes provided by Govt to boost exports from
After the "Make in India" initiative by the Modi Government, Indian exports have
increased manifold. There are numerous export schemes, financial aids and other
benefits provided by the Government of India to exporters which have led to this
increase in exports.
Russia to boost ties to achieve $30 bn bilateral trade by 2025:
This was emphasised upon by Russia's Deputy Prime Minister Yuri Trutnev and Commerce
and Industry Minister Piyush Goyal during a business session from August 11-13 in
war: India's gem and jewellery export gets a boost: The US Government announcing a 10
per cent tariff covering new commodities imported from China has some good news for
India's gem and jewellery industry.If the tariff is actually implemented, Chinaâ€™s gold
jewellery export to US will not be viable and Indian exporters will get an opportunity
to fill that gap.
welcomes Mumbai Portâ€™s decision to raise draft levels: Mumbai Portâ€™s decision to
raise the draft level to 10.3 metres and 11 metres to dock vessels at BPX and BPS
respectively, subject to low tides being over 60 cm has been welcomed by maritime
fraternity.This has avoided the waiting period for the vessels arriving with deep drafts
till the tide is favorable for berthing.With the raising of the draft levels, the
vessels operators can now improve turnaround time and reduce the additional costs
incurred in loading and unloading cargo.
Ministry to Increase tonnages of Export - Import & Coastal cargo on Indian Ships:
The Shipping industry continues to be affected by chronic problems related to ageing
fleet, inability to participate in critical sectors and large-ticket contracts of LNG
trade & carriage.
Due to the
recent incidents in the Strait of Hormuz & the significantly increasing insurance costs
in the Middle East region, Most of The Liners are implementing Extra Risk Coverage
Surcharge based on the scope: Around 36-50 USD per TEU. Within Middle East: July 5,
India is likely
to revamp its customs duty regime, weeding out some exemptions & correcting inverted
duty structures to give a boost to the governmentâ€™s. Make in India manufacturing
initiative exports. Some of these measures could be announced in the budget for FY20 on
iron ore cargo volume has recently found a considerable amount of strength. 6 Indian
spot iron ore cargoes surfaced in the market last week, which marks the largest amount
seen since the Week Ending March 30, 2012.
Advisory Group, headed by Dr. Surjit S. Bhalla, has made several recommendations for
boosting Indiaâ€™s share & importance in global merchandise & services trade. Among
other things, its report identifies tax reforms to boost exports & investment channels
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The US and India are expected to lead capacity growth in the global LNG liquefaction and
regasification industries from planned and announced (new-build) projects, respectively
during the outlook period 2019-2023.
Engineering exporters seek fiscal relief :
They demanded that income tax exemption should be provided on the profits derived on
transfer of export incentive scrips like MEIS (Merchandise Exports from India Scheme)
and SEIS (Service Exports from India Scheme).
India may boost
exports of 350 products to US, China amid trade war. Around 151 products including
diesel and certain chemicals have the advantage to displace the US exports to China &
203 Indian goods including rubber have the advantage to displace Chinese exports to the
higher customs duties on 28 US products, including almond, apple, pulses & walnut in
response to higher tariffs imposed by Washington on Indian Products such as steel &
RTGS transaction timings from 4:30 pm to 6 pm which is effective from 1st June 2019. The
transactions will now take place under 3 windows: 8am to 11am,11am to 1pm and 1pm to
will be simplified for Exporters*
Finance Ministry to make Single Authority for Sanctioning and Processing Refunds for GST
may be constituted by August to speed up refund process for exporters.
The Process Leads to liquidity crunch among exporters.
signed deal with Sri Lanka to develop a deep-sea container terminal.
India's Ambassador to China Vikram Misri said the trade between India & China is set to
cross the $100-billion mark in 2019 for the first time.
Jawaharlal Nehru Port Trust (JNPT) has enhanced its operational efficiency by dredging the
navigational channel to 15 metres, thereby enabling it to berth larger vessels that can
carry more consignments at a time, as well as reduced shipping and handling cost.
per the data furnished by the Ministry of Commerce and Industry electronic goods, organic &
inorganic chemicals, pharmaceuticals and engineering goods showed high Exports growth of
3.93% on a year-on-year basis in May 2019.On other hand Imports also grew by 4.31%