India is considering import duty cuts on components key to producing high-end mobile phones, two government officials said, which would potentially be a boost for companies like Apple and the country’s exports. Companies in the sector have been pushing for cuts on nearly a dozen components to reduce the cost of making smartphones in India […]
In a pivotal year for Latin American soy production, Argentina and Brazil are set to drive significant growth in soybean crushing volumes in 2024. This surge, propelled by Argentina’s crop recovery and Brazil’s higher biodiesel mandate, is poised to reshape global soybean dynamics, as per S&P Global. India, a major consumer of vegetable oils, is […]
In the wake of the Russian invasion of Ukraine, the 12th package of sanctions over the import of Russian diamonds into G7 countries and restrictions on deliveries of diamonds to the European Union came into effect today, Russian News agency TASS reported on Monday. It said in its report that G7 nations announced the introduction […]
Exports from India to Australia have grown by 14 per cent to USD 5.8 billion in April-November this fiscal year due to the strong growth of various sectors, such as engineering, pharmaceuticals and electronics, according to a senior official’s statement on 29 December. The interim free trade agreement implemented on 29 December last year has […]
Indian government on Tuesday told the World Trade Organization (WTO) that it has no plans to extend the ban beyond the mentioned products in the October notification pertaining to IT hardware products such as personal computers, Tablets and laptops. The government said that industry consultations were undertaken before issuing the notification on 3 August and […]
Mandi prices of various basmati paddy varieties in India have witnessed a significant surge, ranging from 11 to 14 per cent, just one month after the government’s decision to reduce the minimum export price (MEP) of basmati rice to USD 950/tonne, aiming to stimulate exports. Exporters attribute the increase in basmati paddy prices to robust […]
The discrepancy in official trade figures between India and China has widened this year, fueled by an increase in under-invoicing and potential financial losses to the Indian exchequer, despite efforts by tax authorities to address the issue. In the first 10 months of 2023, the difference between China’s reported exports to India and India’s reported […]
As the nation emerges from a record-breaking Diwali festive season, the business community is gearing up for a colossal surge in demand with the commencement of the upcoming wedding season on 23 November. With an estimated 38 lakh weddings expected to take place across the country, the mainline retail sector, encompassing goods and services, anticipates […]
India’s overall exports, merchandise and services combined, in October are estimated to be USD 62.26 billion, exhibiting a positive growth of 9.43 per cent on a yearly basis, official data released on Wednesday showed. Major contributors to export growth in October 2023 include drugs and pharmaceuticals, engineering goods, electronic goods, cotton yarn/fabs/made-ups, handloom products, iron […]
Union Commerce Minister Piyush Goyal on Sunday discussed progress in India-EU Free Trade Agreement negotiations with European Commission’s Executive Vice President Valdis Dombrovskis. “Discussed progress of the India-EU Free Trade Agreement negotiations with my friend @VDombrovskis, Executive Vice President of the European Commission,” the Union Commerce Minister wrote on ‘X’. Piyush Goyal on Saturday participated […]
