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Commerce Ministry

Government bans onion exports with immediate effect

Government bans onion exports with immediate effect

Sun, Sep 29, 2019

The Commerce Ministry on Sunday prohibited export of all varieties of onions with immediate effect, till it comes up with further orders. The decision comes on the backdrop of surging prices of the bulb in the country.

Commerce Ministry for anti-dumping duty extension on aluminum alloy wheels from 3 nations

Commerce Ministry for anti-dumping duty extension on aluminum alloy wheels from 3 nations

Tue, Apr 02, 2019

The commerce ministry has recommended extension of anti-dumping duty on aluminum alloy wheels from China, Korea and Thailand for another five years.

Government lays out procedure for claiming benefits under TMA scheme for agriculture exports

Government lays out procedure for claiming benefits under TMA scheme for agriculture exports

Mon, Apr 01, 2019

The commerce ministry has laid out a detailed procedure for claiming benefits under the Transport and Marketing Assistance (TMA) scheme, which aims at boosting agricultural exports.

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Commerce ministry to notify WTO regarding revoking MFN status to Pakistan

Commerce ministry to notify WTO regarding revoking MFN status to Pakistan

Fri, Feb 15, 2019

After the Pulwama terror attack on Thursday, India on Friday withdrew the MFN status to Pakistan. Following this, India can raise customs duties on goods being imported from Pakistan up to the bound level duty rates. Currently, India's custom duties on goods to members of the WTO are below the bound level rates.

Preparing incentive package for exporters to address their woes : Suresh Prabhu

Preparing incentive package for exporters to address their woes : Suresh Prabhu

Mon, Dec 24, 2018

The minister said there has been a sharp decline in credit to the export sector and the department of commerce has taken up the matter with the finance ministry and with the RBI.

Gold imports rise 22% to USD 33.65 billion in 2017-18

Gold imports rise 22% to USD 33.65 billion in 2017-18

Fri, Jul 27, 2018

Increase in gold imports pushed the country's trade deficit to USD 157 billion in the last fiscal, an increase of about 45 per cent as compared to the year ago period.

Commerce Ministry discusses regulatory issues of startups

Commerce Ministry discusses regulatory issues of startups

Sat, Mar 24, 2018

Startup issues like presence of pharmacist at e-pharmacy platforms, streamlining of application process for NBFCs by the Reserve Bank, reforms in current guidelines for UAV sector, "which does not allow for manufacturing of drones, and vehicle specifications for door to door retail delivery of petroleum, were discussed at length," Commerce Ministry said in a statement

ComMin for single GST rate on multimodal transport of vehicles

ComMin for single GST rate on multimodal transport of vehicles

Sun, Jan 28, 2018

Multimodal transportation includes a combination of more than one mode of movement, such as rail, road or sea, for end-to-end delivery of goods

Centre, states, industry to discuss export situation on Jan 8

Centre, states, industry to discuss export situation on Jan 8

Mon, Jan 01, 2018

In its previous meeting in January last year, issues deliberated upon included improving export competitiveness and creating an environment conducive for promoting exports. They had also discussed about quality and standards of products.

Commerce Ministry panel suggests change in SEZ rules

Commerce Ministry panel suggests change in SEZ rules

Tue, Dec 26, 2017

A Commerce Ministry-appointed panel has suggested that the Board of Approval (BoA), the highest decision making body for SEZs, should be given additional powers to exempt units and developers from certain rules to promote these zones.

India eyes African nations to increase export of non-basmati rice

India eyes African nations to increase export of non-basmati rice

Tue, Dec 19, 2017

According to official data, India had exported 5.66 million tonnes of non-basmati rice in 2016-17 and the shipments were 3.51 million tonnes in the first six months of the current fiscal.

Govt to prepare detailed research report to promote exports

Govt to prepare detailed research report to promote exports

Sun, Dec 03, 2017

Recently, Prabhu made a case for treating support measures to promote exports as investment and not subsidies, arguing that outbound shipments contribute in a big way to boosting growth.Exports in October had entered the negative zone again, dropping 1.12%.

China steps up capital controls, tightens investment rules for state firms

China steps up capital controls, tightens investment rules for state firms

Wed, Jan 18, 2017

China issued regulatory rules on outbound investments by centrally-controlled state firms, the state asset regulator said on Wednesday, the latest move by Beijing to tighten controls on money moving out of the country and stabilise a faltering yuan.

Keep labour-intensive sectors out of GST ambit: Nirmala Sitharaman

Keep labour-intensive sectors out of GST ambit: Nirmala Sitharaman

Tue, Jan 03, 2017

Commerce and Industry Ministry on Tuesday asked the GST Council to grant ab-initio exemption to exporters from the Goods and Services Tax (GST) and keep the labour-intensive sectors like leather and plantation completely out of the tax net or put them in lowest slab.

China launches WTO dispute resolution case against US, EU

China launches WTO dispute resolution case against US, EU

Mon, Dec 12, 2016

China said on Monday it had launched a dispute resolution case at the World Trade Organisation (WTO) over the surrogate country approach used by the United States (US) and European Union (EU) to calculate anti-dumping measures against Chinese exports.

Apple holds talks with Indian government on opening stores

Wed, Dec 07, 2016

Apple Inc officials on Tuesday met Commerce Ministry top brass amid its plans to open stores in India without initially having to source components locally.

Exports rises up nearly 5% to $22.9 billion in September

Exports rises up nearly 5% to $22.9 billion in September

Sat, Oct 15, 2016

Signalling a clear reversal of the continuous decline in Indian exports, official data on Friday showed September exports at $22.88 billion grew 4.62% over exports recorded in the same month last year at $21.87 billion.

Gold imports decline by 51% to $2.7 billion in April-May

Gold imports decline by 51% to $2.7 billion in April-May

Sun, Jul 03, 2016

The sliding prices of the precious metal in both global and domestic markets are seen as a contributory factor for the plunge.

Extend tax holiday for startups to 7 years: Nirmala Sitharaman tells Finance Ministry

Extend tax holiday for startups to 7 years: Nirmala Sitharaman tells Finance Ministry

Mon, May 30, 2016

Sitharaman said lots of inputs from startups have been received and "recommendations have gone to the Finance Ministry for extending the 3-year tax holiday to 7 years".

Nirmala Sitharaman revives Apple's India hopes

Nirmala Sitharaman revives Apple's India hopes

Mon, May 30, 2016

On Apple's FDI proposal Sitharaman said that for the high-end technology they will not mind to waiving of 30% local sourcing norms where there is a policy regarding single brand retail.

India, US to hold two-day bilateral talks on hike in working visa fee

India, US to hold two-day bilateral talks on hike in working visa fee

Tue, May 10, 2016

"The Government of India looks forward to the consultations with the US at the World Trade Organisation (WTO), scheduled for May 11-12," the Commerce Ministry said in a statement.

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