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Merchandise exports witnessed annual contraction in 16 of the 30 key sectors last month

Import from India's key crude oil suppliers -- Saudi Arabia and Iraq -- contracted 14.3 per cent and 11.2 per cent, respectively

Exports will need policy support

Indian traders should follow seven steps, including knowing trade policy and rules of origin of respective products in Australia in order to take full advantage of the recently implemented free trade agreement, according to a study by GTRI. The India-Australia free trade agreement came into effect on December 29, 2022. The Global Trade Research Initiative (GTRI) said India-Australia Economic Cooperation and Trade Agreement (ECTA) offers many concessions to exporters and importers of both countries, but the concessions are product-specific, and firms must check if their products benefit from the pact. We have suggested a seven-step process to ensure that the firms do not miss critical details while exporting or importing under ECTA, it said. Utilisation rate of India's free trade agreements (FTAs) is low and one of the factors is low awareness about the process and its benefits, it said adding these steps can help Indian companies make full use of the trade agreement. The steps inc

Bangladesh's current account deficit further widened in October as imports continued to increase in comparison to the combined receipts from exports and remittances

India exported $22 million worth of musical instruments and their accessories in the first half of the current fiscal year, as compared to $38.5 million in the previous year

Trade weakness would affect growth

Imports during October increased to $56.69 billion against $53.64 billion in October 2021

The commerce ministry has decided to resume the practice of releasing monthly exports and imports data only once in a month with a view to providing a clear picture of the country's trade, an official said. Since October 2020, the ministry was releasing the data twice every month -- the preliminary data in the first week and then the revised numbers by the middle of the month. The decision assumes significance as stark contrast between the preliminary and final export growth rate numbers was witnessed in the data for the month of September this year. According to the preliminary data, released on October 3, the merchandise exports contracted by 3.5 per cent in September to USD 32.62 billion. However, the final data released on October 14 showed a growth of about 5 per cent to USD 35.45 billion. Some variations in export growth rate figures were seen in the previous months as well. For example, preliminary data released on September 3 showed a decline of 1.15 per cent to USD 33 bil

The Finance Ministry increased the validity of electronic duty credit scrips under various schemes to 24 months, giving more flexibility to exporters

External demand for key commodities such as engineering goods, gems and jewellery, and textiles fell in August

Exchange rate of two trading partners may be market determined, says central bank

The issue was raised by FIEO Chairman A Sakthivel during a meeting, chaired by Commerce and Industry Minister Piyush Goyal, on April 20

Amid Russia-Ukraine crisis and sanctions on Russia, demand for Indian wheat and other commodities has risen. As these sanctions are unlikely to be lifted anytime soon, find out its impact on India

The Russian invasion of Ukraine, and the flurry of punitive sanctions have the potential to cull India's imports on one hand and also lead to input cost pressure on downstream companies in India Inc

SEPC says travel, tourism and hospitality sectors need govt support

The FY23 Budget has proposed to introduce section 135AA in the customs act through the Finance Bill for "protection of data".

The Union Budget 2022 could allocate steep sums for food and fertiliser subsidies for 2022-23, similar to the Revised Estimates for the current fiscal year

Exports of items such as iron-ore, rice, cereal preparations meat, dairy and poultry products, spices, drugs and pharmaceuticals, handloom products, coal and other ores continued to rise