Export Norms

Amazon raises cumulative export target from India: $80 billion by 2030

Says it's on track to reach $20 bn goal in exports by 2025

Banks should not hold up crediting exporters money due to fault of ICEGATE

On the outstanding EDPMS entry you can't do much except follow up with ICEGATE. But, I don't think your bank is correct in holding up your money

19 major commodities see export volume growth, but value declines

These commodities constitute over a fourth of the export value for April-February, commerce department data showed

Chatroom: Customs should not hold up exports due to valuation issues

The Customs have held up our export consignment because our export price is nearly twice the price our purchase price

Increasing ambitions

MSMEs must be encouraged to tap export opportunities

Govt mulls export tax on low-grade iron ore amid call to curb overseas sale

Indian iron ore exports touched 32.2 million metric tons during the first nine months of the current fiscal year that began in April 2023 - worth $2.7 billion - from 9.5 million tons a year ago

Indian company among 27 faces EU sanctions over dual-use exports

The latest sanctions were announced to mark two years of the Russia-Ukraine conflict, the second anniversary of which falls on Saturday

Commerce ministry to extend benefits under RoDTEP scheme to SEZ units

The commerce ministry has decided to extend export benefits under the RoDTEP scheme for companies in the special economic zones (SEZs) and export oriented units (EOUs). This decision was communicated to the Director General of Foreign Trade (DGFT) on February 16. The DGFT may issue a formal notification soon amending the foreign trade policy on the same. "Post rolling out of ICEGATE (Indian Customs Electronic Data Interchange Gateway) in SEZs, the RoDTEP scheme may also be extended to SEZs," according to an office memorandum of the commerce ministry. The government in August 2021, announced the rates of tax refunds under export promotion scheme -- Remission of Duties and Taxes on Exported Products (RoDTEP), for 8,555 products such as marine goods, yarn and dairy items. As SEZs and EOUs were kept out of the scheme in the list notified that time, the industry was demanding to include them in the scheme. Under RoDTEP, various central and state duties, taxes, and levies imposed on in

Small Indian exporters reel as Red Sea crisis helps rivals nab business

Re-routing via the Cape of Good Hope has meant ships sailing from India will often need an extra 15-20 days before reaching destinations in Europe, greatly increasing costs

Indian exporters gear up to comply with EU's paperless customs system: Rpt

Indian exporting firms need to gear themselves up to comply with new EU norms as the European Union is moving towards a paperless customs process from June 3 this year. The development assumes significance for domestic exporters as the European Union (EU) accounts for about 17 per cent of India's total merchandise exports. In 2022-23, India exported goods worth USD 75 billion to EU as against the country's total exports of USD 451 billion in that financial year. The EU has proposed to implement the second phase of its Import Control System (ICS) from June 3 this year. ICSD 1 was applicable to the air mail and express deliveries from March 15, 2021, and then it was extended to air cargo from March last year. The 'ICS2' will now be extended to cover all type of imports using ships, trains, trucks also on June 3, 2024. First two phases covered 15 per cent imports into the EU, third and final phase cover balance 85 per cent of the imports by value. According to a European Commission .

Walmart readies 'Open Call' in India on way to $10 bn a year export target

'The category expansion over the last 15 years has been incredible …The ingenuity, the grit, the education of the labour force are a strategic advantage in India'

After RoDTEP, govt likely to extend export-boosting textile scheme

Ministry seeks Cabinet's approval regarding RoSCTL scheme

Govt extends time for accreditation of halal certification bodies till Apr

The government on Friday extended the time period for accreditation of halal certification bodies and registration of export units by six months till April 5, 2024. On April 6 this year, the Directorate General of Foreign Trade (DGFT) notified policy conditions for halal certification process for meat and meat products while directing the existing bodies to seek accreditation from National Accreditation Board for Certification Bodies (NABCB) for i-CAS (Indian Conformity Assessment Scheme) Halal in six months. "Time period for accreditation of halal certification bodies and registration of export units have been extended by a period of six months i.e., up to April 5, 2024," the DGFT said in a notification. DGFT is an arm of the ministry which deals with exports and import-related issues. As per the guidelines, meat and its products are allowed to be exported as 'halal certified' only if they are produced, processed and packaged in a facility having a valid certificate issued by a bo

Himachal govt lifts ban on export of safeda, poplar, bamboo, kuth

The Himachal Pradesh government has lifted the ban on export of wood from four tree species, namely safeda, poplar, bamboo and kuth (medicinal plant). No permit would be required for transportation of wood from these species within the state, said Chief Minister Sukhvinder Singh Sukhu in a statement issued on Sunday. Farmers in the state cultivate these species on a commercial scale and this decision of the government would facilitate them to a great extent. He said that the state government has also eased restrictions on the export of other forest products, including khair wood, katha, cedarwood oil, and various herbs, the statement further said. However, a valid permit from the forest department will be required to take these forest products out of the state, the statement added. The chief minister said the state government is considering to introduce the National Transit Pass System in Himachal Pradesh, enabling individuals to obtain various e-permits from the forest department,

US biggest export destination for Indian smartphones in Apr-Jul: Govt data

India exported smartphones worth USD 4.67 billion in April-July this fiscal, following a multifold jump in shipments to the US, which emerged as the biggest destination for India-made devices, according to government data. The smartphone exports to the US jumped multiple times to USD 1.67 billion during the first four months of this fiscal against USD 284.6 million a year ago, the commerce ministry data showed. The US accounted for one-third of the shipments in value terms. The US was followed by the UAE (USD 836.36 million), the Netherlands (USD 379.3 million), the UK (USD 336.27 million), Italy (USD 245.7 million), and the Czech Republic (USD 230.25 million). Overall India's export of smartphones in 2022-23 was USD 10.95 billion. During April-July 2023-24, smartphone exports soared by 99.52 per cent over April-July 2022-23. Prior to 2022-23, the smartphone exports were non-existent, so the data was not captured. After the announcement of the Product Linked Incentives (PLI) sche

India's export of cut, polished diamonds may fall by 22% in FY24: ICRA

India's export of cut and polished diamonds is projected to decline by 22 per cent to USD 17.2 billion in the current fiscal due to weakened demand from the key consuming nations, according to rating agency Icra. In the first five months of the current fiscal, cut and polished diamond exports witnessed a sharp year-on-year decline of 31 per cent following lower export volumes and higher polished diamond prices, it said. Export of cut and polished diamonds has been on a declining trend since the first half of 2022-23, it added. "The export contraction is primarily being driven by weak underlying demand conditions in key consuming nations like the US and Europe due to the inflationary pressures, leading to a shift in spending away from diamonds," Icra Vice President and Sector Head Sakshi Suneja said in a statement. The demand from China, which accounts for 10-15 per cent of the global demand, has also not picked up meaningfully so far, she said. In addition, competition from lab-gr

Empowering MSMEs for export success

Through reforms and e-commerce innovation, India must supercharge its MSMEs

Last date for export of broken rice in transit extended till October 15

The government has again extended the last date for export of broken rice in transit by 15 days till October 15. It banned export of broken rice on September 8 but allowed shipments of certain consignments during September 9-15. On September 20, the date was extended till September 30. "Export of consignments of broken rice...as permissible under notification dated September 8 has beenextended till October 15, 2022," the Directorate General of Foreign Trade said in a notification.

Centre considering 100% WFH across all SEZ units, says Piyush Goyal

The move is expected to create employment opportunities in small cities and increase the export of services

Centre proposes amendment in export policy for certain types of drones

The Centre has proposed an amendment in its export policy for certain types of drones and unmanned aerial vehicles (UAVs), dropping the requirement to receive authorisation