Category: Exports

“Exporters can claim benefits under these schemes without obtaining an RCMC,” the DGFT has said in a trade notice. 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 […]

Escalating US-China trade tensions could boost India’s exports and attract American investments, as new US Senate bills may shift production away from China. India can leverage this by enhancing its manufacturing sector in electronics, textiles, and other industries, reducing reliance on Chinese products. The escalation in the US-China trade war is expected to help India […]

India’s defence production has reached a record high of Rs 1.27 lakh crore in 2023-24, with exports to over 90 countries. Defence Minister, Rajnath Singh highlighted the success of the ‘Make in India’ program, which aims to make India self-reliant and boost domestic defence manufacturing. India’s defence production hit a record high of Rs 1.27 […]

India’s Commerce Minister, Piyush Goyal targets USD 825 billion in exports this fiscal, despite global challenges. He also outlines plans to attract foreign investments through single-window platforms and industrial townships. Commerce and Industry Minister, Piyush Goyal on Wednesday expressed hope that the country’s merchandise and services exports will cross USD 825 billion despite global challenges. […]

The Government has removed the minimum condition on onion exports with immediate effect. Previously, a minimum export price of $550 per MT was imposed in May 2024. This led to a significant drop in onion exports by over 50% in June. Till July 31, 2024, India exported 2.60 lakh tons of onions this financial year. […]

China’s economy has failed to fire over the past year amid a prolonged property sector downturn, and a survey last week showed exports in the doldrums and factory gate prices at their worst in 14 months, pointing to producers slashing prices to find buyers. China’s exports grew at their fastest pace in one-and-a-half years in August, […]

According to FIEO, the value of export credit outstanding has come down to Rs 2,17,406 crores in the March 2024 quarter from Rs 2,27,452 crores in the same quarter last year. Exporters will raise the issue of “declining bank credit” to exporters at the Board of Trade (BoT) meeting that will be held on Friday […]

The Government has launched the Trade Connect e-Platform to streamline export and import information for entrepreneurs. Developed with various Ministries and organizations, it aims to connect over 6 lakh IEC holders and provide real-time trade-related data. The portal will be updated regularly and include additional services in its second version by 2025. The platform is […]

Exporters are concerned about declining bank credit, which they will discuss with Commerce Minister, Piyush Goyal. Despite a 15% growth in exports, outstanding credit dropped by 5%. The Federation of Indian Export Organisation (FIEO) suggests measures like sub-targets for export credit and increased insurance cover to address the issue. The declining bank credit to exporters […]

In May, The Indian Express reported that India’s labor-intensive sectors such as textiles, leather, gems and jewelry, and marine products are experiencing a sharp decline. Jobs in India generated directly and indirectly connected to international trade have declined over the last decade, the World Bank said, adding that the country has missed out on the […]