Page 12 - Trade

Newer language of global trade

Incoterms are invariably incorporated in all international contracts for sale of goods

In a first, US overtakes Germany to become UK's biggest source of imports

While Germany has long been Britain's biggest source of imports, the United States was already Britain's largest export market

'EOUs can import goods from Pakistan without paying customs duty'

The 5/2019 notification grants exemption on goods imported by EOUs from the whole of customs duty leviable thereon under the First Schedule to the Customs Tariff Act, 1975

Exports fall 9.71% to $25 bn in June; trade deficit lowers to $15.28 bn

Imports too declined by 9 per cent to $40.29 billion in June 2019 against $44.3 billion in June 2018 mainly due to falling prices of petroleum products

Britain looks to train school-leavers as future negotiators for trade deals

Britain cannot formally sign trade deals with other countries until it has left the European Union

$650-mn exports of California almond growers hurt due to Indo-US trade tiff

California almond orchards are expected to produce 2.50 billion pounds of nuts this year

Traders want a major role in policy matters, representation in committees

For a long time, traders' bodies have believed that they have been short changed by the government when it comes to taking their views on policy matters

Trade mis-invoicing cost India $13 bn in tax revenues in 2016, says report

The findings are part of a report by Washington, DC-based think tank Global Financial Integrity

New Delhi isolated

India seeks to block global e-commerce rules, but has few allies

Zero duty on imports: Odisha HC stays DRI notices against exporters

Court also stays proceedings of notices, which means future notices also can't be issued till next hearing

April trade deficit widens to $15 billion; exports, imports register growth

Severe contractions in engineering goods, gems exports means 2019-20 began with a whimper for exports

DIPP renamed 'Department for Promotion of Industry and Internal Trade'

The move comes amidst a demand by traders' body CAIT for forming a separate ministry for internal trade

Suresh Prabhu makes a case for greater flow of credit to export sector

Banking issues such as caution-listing of exporters, third party/ third country exports and list of items to be traded with Iran were also deliberated in a meet with exporters

Merchant exporters to get easier credit under interest equalisation scheme

The sectors covered are mostly labour-intensive and include agriculture or food items, auto components, handicraft, electrical engineering items, and telecom equipment

Govt greenlights Rs 600 crore subsidy sops to merchant exporters

The decision was taken by the Cabinet Committee on Economic Affairs

Global trade growth likely to further diminish in the ongoing quarter: WTO

After falling 2.1% in September, year-on-year, India's export rose 17.9% last month

Hopes arise on trade thawing

The International Monetary Fund has downgraded its global growth outlook for this and next year, due to trade fights between big economies

Trans-Pacific trade pact set for launch as Australia ratifies agreement

Japanese-led diplomacy kept a slimmed-down version of the pact alive after USA backed out

Govt readying plan to boost shipments, eyes $340 bn of exports in FY19

The ministry is also working on tax rebates, duties and embedded taxes, besides alternative payment mechanism in potential problem countries such as Venezuela, Sudan, Cuba and CIS nations

India to cut tariffs on 3,142 items for Asia-Pacific trade bloc from July 1

The average Margin of Preference being provided under the agreement is 31.52%