Page 2 - Trade Exports

Myanmar's exports up 15.09% in over 8 months of FY 22-23: Govt data

During the period, the country's imports were higher by 26.19 per cent to $12,325.87 million

Gems & jewellery sector gets annual export target till last quarter of FY23

India's gems and jewellery industry has achieved its annual export target of USD 48 billion till the last quarter of the current financial year, an official said on Friday. He said that after Covid pandemic, the industry is back on track and keeping its fingers crossed amid the current surge in number of coronavirus cases across the globe. "The present chairman of the gems and jewellery council has informed that the industry has achieved the yearly target of 48 billion of exports from the country till the last quarter. We have achieved what he had to achieve," honorary secretary of the Jaipur Jewellery Show (JJS) Rajiv Jain said. The 20th edition of the four-day jewellery show kicked off on Friday at the JECC here, which is hosting over 900-plus booths and 500-plus exhibitors from different parts of the country and abroad. The theme of this year is 'Emerald...Timeless Elegance'. Jain said that the domestic gems and jewellery market is also growing because of heavy gold buying. He

India has signed 13 FTAs, 6 preferential pacts so far, says union minister

India has signed 13 free trade agreements (FTAs) and six preferential pacts so far with its trading partners for ensuring greater market access for domestic goods and promoting exports, Union minister Anupriya Patel said on Wednesday. The country has recently signed three such agreements with Mauritius, the UAE and Australia. Further, India is also actively engaged in FTA negotiations with some of its trading partners including the UK, European Union and Canada. Trade negotiations with partner countries is a dynamic and continuous process for obtaining better market access for India's exports and other business opportunities, Minister of State for Commerce and Industry Anupriya Patel said in a written reply to the Lok Sabha. "India has so far signed 13 Free Trade Agreements (FTAs) and six Preferential Trade Agreements (PTAs) with its trading partners for preferential access for its products," she said. In a separate reply, the minister said that six rounds of negotiations have bee

India's Q3 current account deficit likely rose on widening trade gap: Poll

A revival in domestic demand in Asia's third-largest economy since the Covid-19 pandemic has also compounded the shortfall through higher imports

Signs of global slowdown: Export credit demand shrinks 25% YoY in October

The data released by the Reserve Bank of India (RBI) showed a fall in export credit even though the bank credit saw a robust growth of 18 per cent

Bangladesh's current account deficit widens in Oct as imports surge: Report

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

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

FHRAI meets Nirmala Sitharaman, seeks infra tag for hospitality industry

Representatives from Federation of Hotel & Restaurant Associations of India met Finance Minister Nirmala Sitharaman on Thursday and sought granting of infrastructure status to the hospitality industry in the forthcoming Budget. Currently, hotels built with an investment of Rs 200 crore or more have been accorded infrastructure status under the RBI infrastructure lending norm criteria. The association has requested that this threshold be brought down to Rs 10 crore to give a fillip to budget segment hotels. This will enable hotels to avail term loans at lower rates of interest and also benefit from longer repayment periods. It has also requested for hospitality to be classified as an industry that's applicable across the country and create a corpus which compensates states for any notional loss, the association argued. "FHRAI put forth to the minister specific requests with special emphasis on granting infrastructure status to the hospitality industry," a release stated. The ...

Centre pushes for reviving export commissioner posts for boosting trade

The export commissioners will be expected to operate under clear targets to expand exports from their states

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)

A narrow window of opportunity

Thailand and China are at risk of growing old before they grow rich; India must grow its GDP at 8-9 per cent or more to avoid that fate

Piyush Goyal asks exporters make price adjustments to retain market share

A temporary change in pricing will help them accommodate short-term challenges, an official statement says; minister reviewed sectoral progress in exports with EPCs and Industry bodies

How reliable is India's China trade data?

The mystery of missing $12 bn from India-China trade is fascinating. China said, its trade with India touched $103 bn in the first nine months of 2022. But India says that it is $91 bn. Who is right?

Erdogan, Zelensky discuss resumption of grain exports from Black Sea ports

Earlier on Wednesday, Erdogan confirmed that Moscow had agreed to resume its implementation of the grain export deal

'If export proceeds not realised, you need to surrender RoDTEP benefit'

If the importer fails to comply with the condition of the notification which was claimed at the time of import, the duty is required to be paid as per the rate applicable

Like imports, exports to soon have a single window clearance system

Several export consignments need to be checked by various regulatory agencies like drug controllers etc, all these will be integrated into the new customs system

Quash Pernod bid to halt lawsuit against $244 mn tax demand: Govt to court

Oct 3 Mumbai court filing by India's customs authority underlines growing dispute between PM Modi's government and Pernod's local unit over how the company valued some of its imports for over a decade

Exports up 4.8% to $35.45 billion days after initial data showed a dip

The World Trade Organization (WTO) has also painted a grim picture for the outlook of global trade next year amid fears of a recession

In a first, India's monthly mobile phone exports touched $1 bn in September

Monthly mobile phone exports from India touched the $1 billion mark for the first time ever in the month of September this year

Govt considering forming units to build expertise in Free Trade Agreements

The objective of building dedicated units in the FTA areas is to enable India to negotiate deals with other nations at the World Trade Organization from a position of strength