COMMERCE MINISTRY

Trade Promotion Council of India seeks incentives for SEZs in next foreign trade policy

The Trade Promotion Council of India said there is a pressing need to allow certain tax incentives in line with the global practice to the exports to Domestic Tariff Area, in order to ensure SEZ survival and its contribution to the exports.

Committed to achieving goal of $500 bn in bilateral trade with US: Ambassador Sandhu

India and the US are committed to achieving the ambitious goal of bilateral trade of USD 500 billion, India's top envoy has said, underlining that New Delhi is keen to engage with the new Biden administration, particularly on trade and economic partnership.

FIEO asks finance ministry to take a look at 'harsh' provision in Budget for exporters

A sub-section is proposed to be inserted in Section 113, which states that goods would be liable for confiscation if products entered for exportation under claim of remission or refund of any duty or tax or levy make a 'wrongful claim' in contravention of the provisions of this Act.

India lines up deepwater port for rice, exports to surge amid global shortage

Congestion at the Kakinada Anchorage Port, India's biggest rice-handling facility, had led to a waiting period of up to four weeks compared with the normal wait of about a week, raising costs for shippers and limiting exports, said B.V. Krishna Rao, president of the Rice Exporters Association of India.

We are fast achieving pre-COVID-19 levels in exports: Commerce secretary

The secretary said measures like production-linked incentive scheme would expand the manufacturing base and that will take exports to the true potential.

Udyog Manthan to focus on quality, productivity: Commerce Ministry

"During the next few weeks, Udyog Manthan will cover various sectors including pharma, medical devices, closed circuit camera, electronics system design and manufacturing, new and renewable energy, robotics, aerospace and defence, quality in government processes which will shine a guiding light towards realizing the vision of AatmaNirbhar Bharat," ministry said in a statement.

Commerce Ministry recommends imposing anti-dumping duty on Chinese chemical

The Directorate General of Trade Remedies (DGTR) has recommended the duty after concluding in its probe that '1-phenyl-3-methyl -5-pyrazolone' from China has been exported at dumped prices into India, which impacted the domestic industry.

Suresh Prabhu urges commerce ministry to address issues of service exporters

As per the Foreign Trade Policy (2015-20), only two months are left for claiming SEIS benefits for the year 2019-20, according to the letter dated January 21, 2021.

India urges WTO members to find permanent solution to public stock holding for food security

The comments were made during the final session of India's seventh Trade Policy Review (TPR) which concluded on Friday at the WTO in Geneva.

Commerce ministry seeks views from ministries on proposed national logistics policy

The proposed policy talks about developing national and state master plans for multi-modal connectivity; formulation of an umbrella national logistics law; comprehensive standards for the sector; and developing IT applications to provide solutions that include track and trace for trucks.

Import monitoring system being developed for several sectors: Commerce Ministry

The system would help gather advanced information on imports of these products and make it available to the stakeholders, including government and domestic industries.

Commerce ministry for extension of anti-dumping duty on carbon black used in rubber industry

In a notification, the ministry's investigation arm Directorate General of Trade Remedies (DGTR) has said there is a "positive" evidence of likelihood of dumping of 'carbon black used in rubber applications' and injury to the domestic industry if the existing anti-dumping duty would be removed.