January 30, 2023 23:49 (IST)
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Hockey Men's World Cup 2023: India beat Japan 8-0 in classification match | Amid row, Kerala Congress screens controversial BBC documentary on PM Modi in Thiruvananthapuram | Republic Day Parade to showcase India’s indigenous military prowess, cultural diversity | Mulayam Singh Yadav, Zakir Hussain conferred Padma Vibhushan award | Dilip Mahalanabis, who pioneered ORS use, to be awarded Padma Vibhushan

DGFT simplifies calculation of composition fee for export obligation extension under advance authorization scheme

New Delhi/IBNS: The Directorate General of Foreign Trade (DGFT) has notified the amended rules for the calculation of composition fees for extending export obligation under the advance authorization scheme, the Ministry of Commerce and Industry said on Wednesday.

Agri and processed food products export up by 16pc to $17.43 billion in Apr-Nov FY23

New Delhi/IBNS: The exports of agricultural and processed food products rose by 16 percent to $17.43 billion in the April-November period of the current FY23 in comparison to the same period last fiscal, as per government data released on Friday.

RBI allows banks to open 12 'vostro accounts' to facilitate rupee acceptance in international trade

New Delhi: In a move to facilitate import-export trade in the rupee, the Reserve Bank of India (RBI) permitted banks to open “vostro accounts”.

India's balance of payment may go into $45-50 bn deficit in FY23

​India's balance of payment is expected to be in deficit by $45 -50 billion in FY23 but this deficit can be managed comfortably with foreign exchange reserves at a healthy $531 billion, according to a report in the media.

Centre allows international trade settlements in Indian Rupees

New Delhi: The government has amended the Foreign Trade Policy and Handbook of Procedures to allow for International Trade Settlement in Indian Rupees for invoicing, payment, and settlement of exports/imports, the Ministry of Finance said Wednesday.

India-China bilateral trade crosses $ 100 billion in Jan-Sept period: Report

India-China bilateral trade has crossed $ 100 billion for the second year in the first nine months of 2022 while India's trade deficit widened to more than $ 75 billion, media reports said citing data released by China's General Administration of Customs (GAC).

India can be two and three wheeler exporting hub: Amitabh Kant

New Delhi/UNI: India has huge growth potential in the battery storage segment, on the back of which the country can become a two and three-wheelers exporting hub, ex-CEO at Niti Aayog Amitabh Kant said on Friday at the ninth Public Affairs Forum of India (PAFI) meet.

Legislative and policy measures taken to boost exports through eCommerce: Union minister Som Parkash

New Delhi: The government has taken several steps for increasing exports through e-Commerce, including various legislative and policy measures for e-commerce keeping in mind the retailers, Minister of State for Commerce and Industry Som Parkash told Lok Sabha in a written reply on Wednesday.

GDP share of goods and services exports surges to 21.4 pc in 2021-22 from 18.7 pc in 2020-21

New Delhi: The share of exports of goods and services in GDP has increased from 18.7 percent in 2020-21 to 21.4 percent in 2021-22.

RAMP & CBFTE schemes will make India sourcing hub for global players across value chain: EEPC India Chairman

New Delhi: EEPC India Chairman Mahesh Desai has said that the launch of the Capacity Building of First-Time MSME Exporters (CBFTE) scheme would give further thrust to the export sector and help India become a sourcing hub for global players across the value chain.

India's FY 2021-22 marine product exports jump by over 30 pc to USD 7.76 billion

New Delhi: India shipped 13,69,264 MT of seafood worth Rs 57,586.48 crore (USD 7.76 billion) during 2021-22, despite heavy odds,  the Ministry of Commerce and Industry said Thursday.

India’s services exports hit record $254.4 billion in FY22

New Delhi: India’s Services exports set a new record of $254.4 billion in the financial year 2021-2022, the Ministry of Commerce & Industry said Wednesday.

India’s pharma exports grow by 103 pc since 2013-14

New Delhi: Indian pharma exports witnessed a growth of 103 percent since 2013-14, from Rs 90,415 crores to Rs 1,83,422 crores in 2021-22. 

Despite Covid-19, turbulent geopolitical situation, India's exports remain robust: RBI

Mumbai: Despite the turbulent geopolitical situation and the recent spike in global oil and commodity prices, demand for the country's exports and key commodities remained strong, observed Shaktikanta Das, Governor, Reserve Bank of India.

India overshoots export target; achieves USD 417.8 billion exports in 2021-22

New Delhi: Merchandise exports from India have reached USD 417.8 billion in the current financial year, officials said on Sunday.