The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector
PDP president Mehbooba Mufti on Monday asked Prime Minister Narendra Modi to reconsider the decision to remove additional duties on apples, walnuts and almonds imported from the US, saying it will have a devastating effect on the horticulture industry in Jammu and Kashmir. The government last week announced its decision to remove additional duties on US products like apples, walnuts and almonds among other items. The additional levies were imposed in 2019 as a retaliatory measure to the United States raising tariffs on certain steel and aluminium items "GOIs decision to remove additional duties on apples, walnuts & almonds will have a devastating effect on local growers in J&K already grappling with huge losses post 2019. Hope @PMOIndia reconsiders," the former Jammu and Kashmir chief minister posted on X.
The rise in imports is expected to continue in September as well, as it takes 4-6 weeks for consignments to reach India
Higher purchases by the world's biggest importer of palm oil could help to lower inventories in top producing Indonesia and Malaysia and support benchmark futures
Indian refineries said in August that the Urals discount to the dated Brent benchmark crude had narrowed too much, making them cut purchases of the grade in September
Indian refiners also cut shipments from Iraq, another top supplier, by 10% on the month in August to 848,000 barrels a day
The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange strengthened 7 ringgit, or 0.18% to 3,937 ringgit ($849.22) per metric ton by the midday break
The imports would allow New Delhi to intervene more effectively in the market to drive down wheat prices that stoked inflation to a 15-month high in July
The services trade surplus widened to $36.39 billion in the first three months of the current financial year against $31.07 billion in the first quarter of the previous year
There is no proposal at present to impose import restrictions on more electronic goods, Commerce Secretary Sunil Barthwal said on Monday. The government has decided to impose import curbs on laptops, personal computers and certain more electronic devices from November 1 on security grounds to reduce imports from nations like China and boost domestic manufacturing. Barthwal said there is a production-linked incentive (PLI) scheme for electronics and mobile manufacturing. "We are monitoring our imports. We are also looking that there should not be undue dependence on any particular country. We want to diversify both our exports as well as our imports. "We do not want ourselves to be dependent upon very few sources of imports...So what we are doing, we are evaluating the position in consultation with various ministries. We are looking at trends, but there is nothing in the offing, as of now," he told reporters here. He was replying to a question about whether the government is lookin
Merchandise exports in July stood at $32.25 billion, down from $32.87 billion in June and $38.34 billion in July 2022
Imports drop 1.0%, goods imports decline 1.2%; exports dip 0.1%, goods exports decrease 0.1%
Within a day, the government officials said there will be a transition period for this policy without providing further details
The government is likely to push its order of licensing requirement for imports of laptops, PC and tablets by at least a month, sources said, as officials did fire-fighting after the decision announcement took the industry by surprise. The move is expected to offer a breather to companies, who have been on tenterhooks following Thursday's order. DGFT will soon issue a notification on timeline extension, IT Ministry sources said. In a post on 'X' social media platform (earlier known as Twitter), Minister of State for Electronics and IT Rajeev Chandrasekhar said: "There will be a transition period for this to be put into effect, which will be notified soon". Meanwhile, IT Ministry sources indicated that implementation timelines will be extended by at least a month, which means players will have more time in hand to apply for a licence if they wish to import these products. Time will be given to companies so that they apply for licences, sources said, adding that timelines will be ...
With India imposing import curbs on laptops and computers, the government should take steps such as announcing objective criteria for importers to seek licence for inbound shipments of these items to meet domestic demand, trade think-tank GTRI said on Friday. On August 3, the government said importers of these goods have to seek licence/permission from Directorate General of Foreign Trade (DGFT) for imports. PCs, laptops, and tablets connect us to the world of education, business, entertainment and everything else. The government must take all steps to avoid short supply and market disruption. One way is announcing objective criteria that will constitute the basis for the grant of licence, Global Trade Research Initiative (GTRI) co-founder Ajay Srivastava said. In similar cases earlier, criteria like past performance have been used for granting licences. He said the government may inform all firms of their next year's annual import eligibility in terms of the number of units and va
"Their import would be allowed against a valid licence for restricted imports," the notice said
The one-year dollar-rupee implied yield rose four bps to 1.73%, amid the RBI's possible intervention in the forwards market
Services exports in June were $27.12 billion, while imports were $15.88 billion
The price of ten grams of 22-carat gold was Rs 54,650, at par with yesterday's price
Imports were the only exception in the otherwise strong GST numbers in the first three months of the current financial year