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Trade and Commerce

TREND | 17 Oct 2024, 01:08PM

Geopolitical situation unlikely to impact Indian carpet fair: CEPC chairman

Business Standard

The current geopolitical situation in the Middle East is not likely to have an impact on the Indian carpet fair and may offer an advantage to Indian exporters, Carpet Export Promotion Council Chairman Kuldeep Raj Wattal has said. The Carpet Export Promotion Council (CEPC), which plays a crucial role in promoting the carpet industry, has been organising biannual fairs that attract domestic as well as international buyers. "The current geopolitical situation in the Middle East will not affect the Indian carpet fairs. Instead, it may offer an advantage to Indian exporters, especially if Iranian production is impacted," CEPC Chairman Kuldeep Raj Wattal told PTI. On the cancellation of the 'Domotex fair' in Germany, a major event for global carpet trading, Wattal said "this presents an opportunity for increased orders at the ongoing 'India Carpet Expo 2024'." The CEPC is targeting an export trade goal of Rs 500 crore to Rs 700 crore during this expo. The 'India Carpet Expo 2024' in Bha

India aiming to close FTA negotiations with Australia in 2 months: Report

Business Standard | 16 Oct 2024

Trade and Commerce

TREND | 16 Oct 2024

Exports rise marginally in September, trade-deficit at 5-month low

Business Line

Engineering goods, chemicals, plastic, electronics, garments drive growth

Trade and Commerce

TREND | 15 Oct 2024

UAE to review India's concerns on surge in silver, platinum alloy imports

Business Standard

India has raised its concerns over jump in imports of silver products, platinum alloy, and dry dates from the UAE and urged the country to ensure that the rules are not circumvented under the free trade agreement (FTA), an official statement said on Tuesday. The UAE has agreed to examine the concerns raised by the India, the commerce ministry said. Following significant increase in imports, India sought review of certain provisions of the FTA with the UAE that came into force on May 1, 2022. The concerns were raised during the second meeting of the joint committee (JC) under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in the UAE on October 14. The Indian delegation was led by Additional Secretary in the Department of Commerce Ajay Bhadoo and Assistant Undersecretary for International Trade Affairs, Ministry of Economy of the UAE, Juma Al Kait co-chaired from the UAE side. "Indian side raised the issue related to the recent surge in imports of silver products,

Trade and Commerce

TREND | 15 Oct 2024

Piyush Goyal launches district master plan under PM GatiShakti for infra planning in 27 aspirational districts

Economic Times

Commerce Minister Piyush Goyal launched a district master plan for infrastructure planning in 27 aspirational districts under the PM GatiShakti initiative. The plan aims to cover over 750 districts in 18 months. Guidelines for preparing logistics plans were also introduced. The GIS-enabled platform is developed by BISAG-N and will enhance data-backed decision-making.

Trade and Commerce

TREND | 14 Oct 2024

India seeks consultations with Turkiye on safeguard measures on polyester

Business Standard

India has sought consultations with Turkiye under the WTO's safeguard agreement following Ankara's decision to extend safeguard measures on polyester staple fibres. In September, Turkiye decided to extend safeguard measures against imports of polyester staple fibres. "As a member having a substantial trade interest in the export of products concerned, India hereby requests consultations with Turkiye with a view to reviewing the information provided and exchanging views on the extension of the measures," according to a communication of the World Trade Organisation (WTO). It said that India would like to propose that consultations take place virtually on October 10 or 18 or on a mutually convenient date and time. As per a provision of the Agreement on Safeguards, a WTO member country proposing to apply safeguard measures shall provide adequate opportunity for prior consultations with those members having a substantial interest as exporters of the product concerned, with a view to .

Trade and Commerce

TREND | 11 Oct 2024

Edible oil import down by 6% in 11 months

Business Line

India imported 145.35 lakh tonnes (lt) of edible oil during the first 11 months of the oil year 2023-24, against 154.68 lt in the corresponding period of the previous oil year

Trade and Commerce

TREND | 10 Oct 2024

WTO cuts 2025 world merchandise trade growth forecast to 3% from 3.3%

Business Standard

The first half of 2024 saw 2.3 per cent year-on-year increase. The rebound came against the backdrop of a slump in 2023 - of 1.1 per cent - driven by high inflation and rising interest rates

WTO slightly raises 2024 goods trade forecast but wary of possible setbacks

Business Standard | 10 Oct 2024 1 more

Trade and Commerce

TREND | 09 Oct 2024

Indian rice exports get delayed at ports as Customs officials hold up consignments

Business Line

Exporters say they incur $70/tonne additional costs; Customs officials playing safe to verify if shipments are white or parboiled rice

Trade and Commerce

TREND | 08 Oct 2024

Registration certificate not mandatory for exporters seeking benefits: DGFT

Business Standard

The commerce ministry's arm DGFT has clarified that registration-cum-membership certificate is not mandatory for exporters to seek benefits under schemes like duty drawback and remission of state levies. According to the Foreign Trade Policy, a Registration-cum-Membership Certificate (RCMC) is required for exporters in order to avail benefits under the policy. Holding the certificate can also help exporters in availing benefits with respect to customs and excise. The certificate is issued by export promotion councils and commodity boards. The Directorate General of Foreign Trade (DGFT) has said that schemes such as duty drawback, rebate of state and central taxes and levies (RoSCTL) and remission of duties and taxes on export products (RoDTEP) fall under the category of remission-based schemes. These schemes are aimed at remitting duties or taxes on exported goods. For these schemes, "the requirement of an RCMC does not apply. Exporters can claim benefits under these schemes witho

Trade and Commerce

TREND | 08 Oct 2024

India insists transfer of technology important part of WTO talks on environment

Business Line

WTO prepares background note for Oct 10 meet of Committee on Trade & Environment, includes members' comments