Page 4 - Exports

EU's 'demands' for GSP Plus renewal put Pakistan under pressure

In order to save its status of GSP Plus, Pakistan is dangling between the conditions put forth by the European Union (EU) as well as its domestic exports lobby

Action to detain consignment is a death knell for exports, says Vivo

Chinese mobile phone company Vivo has alleged that the Department of Revenue Intelligence (DRI) has stopped the company's consignment at Delhi airport and such action is a death knell for company's export from India, according to industry body ICEA's letter to the government. Vivo in an email to India Cellular and Electronics Association (ICEA) has alleged that the DRI has detained the consignment of 26,840 mobile phones and is checking IMEI number of the handsets after opening the seal of their boxes, which is making them unfit for export. "The entire consignment is currently scattered at the Delhi airport, and is no longer fit for exports, until it has again been moved to factory, undergone complete inspection and then repackaged. This being the festive season, this action by the DRI rings a death knell for us exporting out of India unless the DRI actions at the airport do not cease immediately and our goods released," Vivo wrote in the email to ICEA. The communication is part of

Govt includes steel, pharma, chemicals in RoDTEP scheme as exports falter

Expanded list of items will be applicable for exports made from December 15. Scheme outlay pegged at Rs 1,000 crore, says govt official

These Chinese carmakers bought their own ships to make exports smooth

With the vessels in question not expected to come online for several years yet, it's a bold bet on lasting global consumer demand for Chinese cars

Bangladesh records highest monthly exports of over $5 billion in Nov

Bangladesh exported goods worth more than $5 billion in November, the highest ever in a month, as demand for ready-made garment items continued to soar, according to the latest official data

India's CAD likely to shoot up as net exports hit nine-year low

CAD in Q1 of 2013 was 4.9 per cent of GDP, while net exports stood at 5.93 per cent of GDP

FTAs and their discontents: Do free trade agreements benefit India?

India's balance of trade has worsened with countries with which it has signed free trade agreements

Demand for musical instruments up; Chennai, Kolkata rank as top exporters

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

Budget 2023: Exporters urge govt for fiscal incentives, lower customs duty

The meeting took place at a time when external demand is waning as exporters are facing global headwinds of high inflation, currency depreciation and geopolitical tensions

Margin scale up key trigger for genset manufacturer Cummins India

Easing commodity prices and exports to drive profitability for company, say analysts

Wheat prices being closely monitored, export ban led to rise in stock: Govt

Food Secretary Sanjeev Chopra said wheat prices have gone up only by 7 per cent in retail. However, he added that if the hike in MSP is considered then the price rise is only around 5 per cent

Export duty removal will lead to era of growth for steel industry: Scindia

Removal of export duty on steel products will lead to a new era of growth for the domestic steel industry which has gained footprint internationally, Union minister Jyotiraditya Scindia said on Monday. It has taken years for the domestic steel industry to gain footprint in the international markets, the steel minister said at the 3rd Indian Steel Association (ISA) conference here. The government has cut the export duty on steel products and iron ore to nil with effect from November 19, 2022 -- six months after imposition of the levy on May 21. "It has taken if not months then years for our industry to be able to to firmly plant its footprint internationally... (On) steel product, the duty has been removed completely from Friday evening enabling a new era for the steel industry to grow," he said. The decision was taken very judiciously after taking all stakeholders' concerns into account. There were several rounds of discussions with the advisory committees on integrated steel plan

Varanasi-Haldia inland waterway to boost exports in Uttar Pradesh

The Uttar Pradesh government is set to leverage the Varanasi-Haldia inland waterway to boost exports, including those of farm commodities and manufacturing goods

US, China, UAE drive India's first export contraction in nearly 2 yrs

The three nations that saw positive growth in exports were the Netherlands (21.6 per cent), Singapore (24.8 per cent), and Brazil (57.7 per cent)

India notifies 8,606 tonnes of raw cane sugar exports to US under TRQ

The government on Wednesday notified exports of 8,606 tonnes of raw cane sugar under the tariff-rate quota (TRQ) scheme to the US. Shipments under the TRQ enjoy relatively low customs duty. After the quota is reached, a higher tariff applies on additional imports. "The quantity of 5841 MT (raw/refined) sugar to be exported to EU and quantity of 8606 MTRV raw cane sugar to be exported to USA under TRQ scheme from October 1, 2022, to September 30, 2023 has been notified," the Directorate General of Foreign Trade (DGFT) said in a public notice. India, the world's second biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well. The DGFT said that the quota will be operated by APEDA.

India's exports to UAE rises 17.6% to $18 bn in Apr-Oct this fiscal: Data

India's exports to the UAE, with which a free trade agreement was implemented on May 1, rose by 17.6 per cent to about USD 18 billion during April-October this fiscal, according to the commerce ministry's data. However, exports in October dipped by 18 per cent to about USD 2 billion. Imports during April-October 2022-23, on the other hand, increased by 33 per cent to USD 32.3 billion from the UAE, the data showed. Imports from China during the same period grew by 18 per cent to USD 60.3 billion, while India's exports to China declined by 37.3 per cent to 8.8 billion, according to the data. Exports to India's major destinations, such as the US, UAE, China, Bangladesh, UK and Saudi Arabia, have recorded negative growth in October. On the other hand, exports registered positive growth in the Netherlands, Singapore and Brazil during the month. In April-October this fiscal, exports to the US rose by 8.4 per cent to USD 47 billion. Similarly, the outbound shipments to the UK during sev

Indian govt lays out action plan to promote millet export starting Dec 2022

For exports of Indian millets, the Indian government has planned to facilitate participation of exporters, farmers and traders in 16 international trade expos and Buyer Seller Meets (BSMs).

Single-window exports clearance system roll-out likely next year, in phases

First phase is expected early next fiscal year; CBIC in talks with six major concerned regulatory agencies with the vast majority of export matters

India's services exports to buck recession fears; see 25-30% growth

Notwithstanding the threat of a recession looming ahead for the developed economies, exporters say they expect a similar trend to continue in the second half of the year

What is the Black Sea grain deal; where does it stand after Russia's exit?

With Russia pulling out of the deal, it would become difficult for the grain shipments to leave Ukraine. However, 12 shipments left Ukraine's ports on Monday