Page 9 - India Imports

India's balance of payments will be very strong, says Piyush Goyal

Says overseas companies must stop having an 'assembly workshop' approach

Imports from related party will be scrutinised by Customs: Expert

Rule 3(3)(a) of the Customs Valuation Rules, 2007 provides that where the buyer and the seller are related, the circumstances surrounding the sale will be examined

Invoking self-reliant India, govt bans import of 101 defence items

Modi endorsed the new import embargoes from his own Twitter account

New defence measures a game changer for indigenous firms: India Inc

Chief executive officers (CEOs) of defence companies said if the plan is implemented well, this will help India become a net exporter

DGTR recommends CVD on certain steel product imports from Indonesia

The Commerce Ministry has recommended imposition of provisional countervailing duty (CVD) on certain steel products from Indonesia to guard domestic manufacturers from subsidised imports.

India has trade deficit with 9 of top 10 commerce partners, shows data

While India has maintained a comfortable surplus of more than $17 billion with the United States, its largest export market, deficits have become deeper for all other nations

JNPT expects imports to get back to normal from this month-end

The port has been continuously growing month-on-month, registering a throughput of 3,44,316 TEUs in container handling in July, which is 19 per cent higher as compared to June 2020

To promote local production, govt announces curbs on import of colour TVs

Putting an item under a restricted category of imports means the importer of that commodity will have to seek licence from the commerce ministry's DGFT for imports

Govt issues scheme guidelines to boost drug manufacturing, medical devices

The objective is to make India self reliant in production of 53 critical Active Pharmaceutical Ingredients, and in production of medical devices, for which India is crucially dependent on imports

India to post current account surplus this fiscal, first since FY04: Report

After many quarters, the economy logged in a marginal current account surplus in June quarter at 0.1 per cent or $600 million as against a deficit of $4.6 billion or 0.7 per cent of GDP in FY19

Imported Rakhi products from China to take Rs 4,000 cr hit: Traders' body

The traders' body said that an estimated Rs 6,000 crore of goods are sold each year during the of Raksha Bandhan festival in which China alone contributes about Rs 4,000 crore

If the imported goods found defective can be re-exported, says expert

The specific provision under the Customs Act, 1962 is Section 26A that allows refund of import duty if the imported goods are found defective

Identified sectors to cut import, promote domestic manufacturing: Goyal

Goyal said that Covid-19 pandemic has taught a big lesson that over-dependence on certain geographies can cause a lot of difficulties in the time of stress.

From textiles to furniture, 350 items may face non-tariff barriers

Move is in line with govt's 'Atmanirbhar Bharat' objective

Raw materials continue to dominate India's top exports to China

Tough talk on Chinese goods in FY20 leads to lower imports, narrowing trade gap

Modi govt bans power gear imports from China amid border stand-off

The electric equipment industry, in its representation to the ministry, had earlier flagged the threat of cyberattacks by China

India's trade deficit with China falls to $48.66 bn as imports decline

Exports to China in the last financial year stood at $16.6 billion, while imports aggregated at $65.26 billion

Customs told to clear all Chinese shipments with entry bills till June 30

"The rationale for the June 30 midnight deadline is not very clear," said a government official.

Industry fears supply chain disruption amid curbs on Chinese imports

Global companies that manufacture here say the move will impact their supply chain and force them to halt production.

Imports from Hong Kong on the rise as trade gap with China narrows

India's trade deficit with China is on a downward trajectory, and hit a 5-year low in FY20 due to lower imports and higher exports, but trade deficit with Hong Kong continues to rise.