Trade Exports

Govt extends export benefits under Rodtep scheme till September 2025

The government on Monday extended benefits under the RoDTEP scheme for exports made from domestic tariff area (DTA) units for one year till September 30, 2025. The scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) provides for refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods and are not being reimbursed under any other mechanism at the centre, state, or local level. It was launched in January 2021 and was there till September 30. The Directorate General of Foreign Trade (DGFT) said in a notification that for Advance Authorisation (AA) holders, Export Oriented Units (EOUs) and Special Economic Zones (SEZs), the scheme is extended till December 31 this year. "The RoDTEP scheme is being extended for exports made from DTA units till September 30, 2025, and AA/EOU/SEZ units till December 31, 2024," it said. It added that the revised rates under the scheme are also notified for implementation

Smartphones overtake diamonds in India's exports to US, shows data

Nearly 50% of India's FY24 outbound iPhone shipments went to US

Centre starts talks for retaliatory measures against EU steel tariff

Trade bloc to continue with tariff imposed on Indian steel since 2018

FIEO urges Centre to extend interest subvention scheme for 5 years

Apex exporters body FIEO on Tuesday urged the government to extend the interest subvention scheme for five years to help increase credit flow in the sector in order to boost the country's shipments, which registered a steepest decline in 13-month falling 9.3 per cent in August to USD 34.71 billion. Earlier this month, the government extended the interest equalisation/subvention scheme, which provides interest benefits, on pre- and post-shipment rupee export credit for one more month till September 30. "The scheme will end on September 30. We have requested for it to be extended for five years. If there is no interest equalization scheme, then we will lose some markets and some orders," Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai told reporters here. The scheme helps exporters from identified sectors and all MSME (micro, small and medium enterprise) manufacturer exporters to avail of rupee export credit at competitive rates at a time when the global .

Enabling IGCRS rules for EOUs electronically to cut transaction costs

The EOUs should quickly familiarise themselves with the new procedures and raise any doubts/difficulties with the CBIC and ICEGATE, preferably before the coming Wednesday

Indian steel firms under pressure from rising imports, drop in exports

Global steel industry is facing a major threat due to surge in steel exports, particularly from China at predatory prices

India's exports to China fall at faster clip than to other partners

India's exports to China witnessed 22.44 per cent contraction to $1 billion, while overall exports declined 9 per cent at $34.7 billion in August, commerce department data showed

India 'big abuser' of US trade ties, says Trump ahead of meeting PM Modi

Donald Trump, hoping to make a comeback as the US president, criticised India as a "big abuser" of trade while praising PM Modi as a 'fantastic' man at an election campaign in the US

India's exports shrink 9.3% in August, trade deficit at 10-month high

Inbound shipments into the country rose 3.3 per cent to $64.4 billion during the month, leading to a trade deficit of $29.65 billion

Trade Connect e-Platform aims to raise India's exports market share: Goyal

The minister said the newer version of the platform will incorporate Hindi and other official languages of India

World food price index eases slight to 120.7 pts in August, shows UN data

The FAO index hit a three-year low in February this year as food prices retreated from a record peak set in March 2022 following Russia's invasion of Ukraine

JNPA records highest ever monthly container traffic in Aug as exports surge

The port surpassed the previous highest of 603,217 TEUs handled in July 2024

China to pitch green tech exports to Africa amid concerns of Western curbs

"That's a big ask for a continent that generally has very poor China literacy."

Ramkrishna Forgings seeks 20% exports growth as Mexico unit comes up

Company last year acquired three companies as it ramps up production capacity

Tyre exports from India increases by 17% to Rs 6,219 cr in Q1: ATMA

Tyre exports from India grew 17 per cent year-on-year to reach Rs 6,219 crore in the first quarter of the current fiscal with the US emerging as the biggest market, industry body Automotive Tyre Manufacturers Association (ATMA) said on Thursday. Tyre exports from India recouped in the first quarter of FY25, increasing by 17 per cent YoY. Tyre exports had declined by 14 per cent in the corresponding quarter in the previous year, ATMA said citing data just released by the Ministry of Commerce. Sustained focus on R&D and development of advanced technology products aided by competitive pricing and branding efforts helped Indian tyre manufacturers drive growth in exports despite a challenging environment, ATMA Chairman Arnab Banerjee said in a statement. "Improving demand prospects in key export destinations and expected monetary easing also helped growth," Banerjee added. The rise in exports is a testament to the Indian tyre industry's enhanced integration with global supply chains, ..

India ramped up Russia crude oil imports in June quarter: Govt data

Growth set to build on June qtr's $14.7 bn oil inflows amid competition from UAE, Iraq

Indian traders keen to boost ties with Seychelles, says trade commissioner

The Indian trade community in Seychelles is eager to participate in Commonwealth Trade activities and provide a platform for young Commonwealth leaders to discuss trade ties, Honorary Trade Commissioner of India, Commonwealth Trade Council Karunanithy Vaithiyanathasamy said. The business ties between India and Seychelles have been strengthening and there are potential to explore the relationship between the two countries, Karunanidhi Vaithiyanathasamy who was appointed as the Honorary Trade Commissioner of the India Commonwealth Trade Council said in a press release. The Council has proposed to set up an incubation centre in Seychelles based similar to the Centre established in Zanzibar. Seychelles to India High Commissioner Lalatiana Accouche in her address, invited business leaders from Tamil Nadu to set up entities in Seychelles. She appealed to the industry captains to consider Seychelles not only as a place of unparalleled beauty but as a land of significant business ...

Nearly 12% of India's tested spice samples fail quality, safety standards

MDH and Everest have said their products are safe for consumption. Their spices are among the most popular in India - the world's biggest exporter, producer and consumer of spices

Possible work halt at Canada's 2 largest railroads could disrupt US trade

Canada's two largest railroads are starting to shut down their shipping networks as a labour dispute with the Teamsters union threatens to cause lockouts or strikes that would disrupt cross-border trade with the US. Both the Canadian Pacific Kansas City and Canadian National railroads, which haul millions of tons of freight across the border, have stopped taking certain shipments of hazardous materials and refrigerated products. Both are threatening to lock out Teamsters Canada workers starting Thursday if deals are not reached. On Tuesday, CPKC will stop all shipments that start in Canada and all shipments originating in the US that are headed for Canada, the railroad said Saturday. The Canadian Press reported that on Friday, Canadian National barred container imports from US partner railroads. Jeff Windau, industrials analyst for Edward Jones & Co., said his firm expects work stoppages to last only a few days, but if they go longer, there could be significant supply chain ...

GTRI suggests duty cuts withdrawal on gold jewellery under India-UAE FTA

With the government seeking a review of certain provisions of a free trade agreement with UAE, think tank GTRI on Friday asked for the withdrawal of duty cut concessions on platinum, silver, diamonds, gold jewellery, and tweak the rules of origin norms in the pact. India and the United Arab Emirates (UAE) signed the Free Trade Agreement (FTA), officially dubbed as Comprehensive Economic Partnership Agreement (CEPA) on February 18, 2022, and implemented on May 1, 2022. The Global Trade Research Initiative (GTRI) has earlier stated that the pact contains provisions for unlimited imports of duty-free gold, silver, platinum, and diamonds into India over the next few years and it would hurt domestic industry. It has also alleged that there is a potential misuse of the rules of origin in the agreement and due to that India should review the CEPA. Meeting these rules are must to get duty concessions under the agreement. In the review, it said India should focus on issues such as "withdraw