Exports rise over 20 percent in May

ndia’s exports rose by 20.18 per cent in May to $28.86 billion from $24.01 billion of merchandise shipped out during the corresponding month of last year, but trade deficit widened due to high oil prices, official data showed Friday. Exports during May 2018 were valued at US $ 28.86 Billion as compared to US $ […]

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Govt to hike import duty on crude & refined soy, sunflower & canola oil

The Government of India has decided to hike the import duty on crude and refined soy oil, sunflower oil and canola oil by 10 per cent, i e from 35 per cent to 45 per cent. This is the highest increase in recent history. It paid heed to the demand by the domestic edible oil […]

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India proposes retaliatory tariffs on 30 US products

India has decided to suspend concessions on 30 products originating from the US. Customs duty on motorcycles with engine capacity over 800 cc will be raised up to 50%, almonds 20%, walnuts 20% and apples 25%. This came as retaliation to Washington’s move to impose higher duties on Indian steel and aluminium exports. India in […]

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Food Ministry not in favour of ethanol price increase

The Food Ministry seems to be not in favour of increasing ethanol price from the current Rs 40.85 per litre as the rate of molasses has fallen due to bumper sugarcane crop in the 2017-18 season. The sugar industry and even NCP supremo Sharad Pawar have demanded a higher ethanol price to improve the liquidity […]

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Common standards to ease biscuits, sugar & milk trade in South Asia

India and its neighbours have for the first time agreed on common standards for biscuits, refined sugar and milk products that will reduce the need for inspections at border points and give a major boost to movement of these goods in South Asia. This could serve as a template for bigger partnerships within the South […]

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Cotton exports likely to jump 43% in 2018-19

India’s cotton exports are expected to jump 43 per cent to 10 million bales (of 170 kg each) in the 2018-19 marketing year on strong overseas demand, especially from China, according to industry body CIA. Overall cotton shipments are likely to cross 7 million bales in the ongoing 2017-18 marketing year (October-September). Already 6.2 million […]

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India will be $10 trillion economy in 10-15 years: Suresh Prabhu

Suresh Prabhu, minister of Commerce and Industry, Civil Aviation, on Tuesday took to his twitter account to say that India would be a $10 trillion economy in 10-15 years. Prabhu further said that the investment led growth, consumption, technology and total output would lead to  growth in manufacturing, services and agriculture sectors.

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View: With ‘Make in India’, India also needs a ‘Trade with India’ programme

As growing protectionist tendencies continue to imperil the current global economic upswing, the world is on the lookout for a new champion of world trade. Under President Donald Trump, the US has abdicated. Europe is preoccupied and, perhaps, hesitant to fill the gap. China may be keen. However, while President Xi Jinping explores how, and […]

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In a breather, GST refund to exporter to double this week

The refund fortnight window to clear the backlog of exporters’ claims under the goods and services tax (GST) regime could see close to Rs 14,000-15,000 crore of the pending amount being sanctioned by June 16. However, exporters and Federation of Indian Exporters Organisation (FIEO) feel that this 15-day window may not see the over Rs […]

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Manufacturing pushes industrial output in April

Higher production of the manufacturing sector, especially of capital goods and consumer durables, accelerated India’s industrial output in April by 4.9 per cent from a rise of 4.57 per cent in March 2018. According to the data furnished by the Central Statistics Office (CSO) on Tuesday, the General Index for the month of April 2018 […]

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