Page 8 - Trade Exports

CBIC must re-examine, clarify on non-duty paid inputs for drawback

Section 75(1) of the Customs Act, 1962, allows drawback of the Customs and Central Excise paid on the inputs used in the manufacture or processing of the export products

China's exports, imports weaken in Jan-Feb as demand slides amid trade war

China's exports rose a less-than-expected 2.3% in January and February from a year earlier while imports fell more than 8% in a slow start to a year dogged by uncertainty over US tariffs and other policies. Economists had forecast that exports would rise 5% year-on-year and that imports would edge higher. China's overall trade surplus grew to $170.52 billion in the first two months of the year. China's customs agency typically publishes combined trade data for January and February to avoid any distortion from slowdowns during the week-long Lunar New Year holidays. Export growth cooled over the first two months of 2025, with tariff front-running providing less of a boost to demand than we had anticipated, said Julian Evans-Pritchard of Capital Economics. This slowdown comes before any substantial hit from tariffs, which will almost certainly lead to sharp falls in shipments to the US before long, he said. Evans-Pritchard said that the slowdown in imports suggests that the pick up i

World sees India as trusted partner, industry must take advantage: PM Modi

Prime Minister Narendra Modi on Tuesday asked the Indian industry to take "big steps" for taking advantage of global opportunities at a time when the world is looking at India as a trusted partner, which can produce quality goods. Addressing a post-Budget webinar on Regulatory, Investment and Ease of Doing Business Reforms, Modi also said that amid supply-chain disruptions caused by economic uncertainties globally, the world today needs a trusted partner which can produce high-quality products and have a reliable supply chain. "Our country is capable of doing this, all of you (industry) are capable, this is a great opportunity for us. I want that our industry should not look at these expectations of the world as a mere spectator. We cannot remain spectators, you will have to look for your role in this, you will have to seek opportunities for yourself," Modi told the industry players. The Prime Minister said the government is working together with the industry for the last 10 years a

How quality control orders are crippling India's trade competitiveness

India's exporters are already under dire threat from the US. That only makes it more important that they should not be attacked from the domestic side. QCOs must be eliminated immediately

India, EU to push for long-pending free trade agreement by 2025-end

The trade deal will be accompanied with pacts on investment protection and geographical indicators

Useful initiatives from CBIC to simplify trade for importers, exporters

The CBIC Customs Manual 2025 explains in simpler words the role of the Customs, various legal provisions and gives the gist of relevant departmental instructions till February 1

UK, EU step up FTA talks with India in US President Donald Trump era

Piyush Goyal to meet UK, EU officials this week

Green India Polymers inks Rs 347 crore export deal with Canada's Meridian

Polymer recycler and trader Green India Polymers has entered into a collaboration with Canada-based Meridian Polycorp Ltd (Meridian) for the supply of PET flakes worth USD 40 million (around Rs 347 crore) over three years. Under the partnership, the Indian PET and HDPE recycler will export 40,000 MT of PET flakes worth USD 40 million sourced primarily from underdeveloped regions, Green India Polymers said in a statement on Friday. The partnership is aimed at incentivising waste collection, and combating poverty while ensuring compliance and delivering high-quality recycled products to brand owners worldwide, it added. Meridian will serve as the exclusive global distributor of GIP's recycled PET flakes. With an annual recycling capacity of 8,000 MT, GIP has successfully exported over 40,000 MT of recycled PET flakes to major markets, including the United States, Mexico, Germany, Morocco, and Malaysia. Amit Mani, Founder & MD of Green India Polymers said, By combining our ...

India's dependency on China upstream imports on the rise: McKinsey report

India's exports to China are declining, suggesting an emerging asymmetrical trade relationship between the world's two largest developing economies

Trump admin moots 25% tariffs on auto, pharma, semiconductor imports

US risks shortages as India dominates generics space; automakers see muted pain

Commerce department likely to seek more funds to help MSME exporters

Current allocation may not be enough to design and implement support schemes

Widening merchandise trade deficit in January raises dumping concerns

But the figure narrowed during April-Jan, blunting these apprehensions

Trade deficit widens to nearly $23 billion in January as exports shrink

During April-January, exports grew only 1.39 per cent, while imports saw a 7.4 per cent increase

US' reciprocal tariffs on Indian exports will have a limited impact: SBI

The latest report by SBI's Economic Research Department suggests that the overall bilateral negotiations between India and US could provide further collateral benefit to India

Expect export growth to remain strong in coming quarters: Hinduja

Geopolitical turmoil has risen due to ongoing wars like the Russia-Ukraine conflict and the Israel-Gaza crisis, causing global instability

Stocks tumble on global trade war concerns; Sensex down 1,018 points

Experts said Trump's threat could make India susceptible to reciprocal tariffs imposed by the US

Govt to focus on 20 countries, six focus sectors to boost exports

The government has identified 20 countries such as Australia, Brazil, China, and France, and six focus sectors each in commodities and services to further increase India's exports, Parliament was informed on Tuesday. In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Jitin Prasada said a meeting with the officers of the commercial wings of Indian Missions in these 20 countries was organised last month to enhance exports. "The government has recently identified 20 countries of significance and 6 focus sectors each in commodities and services," he said. The 20 countries are Australia, Brazil, Bangladesh, China, France, Germany, Indonesia, Italy, Japan, the Netherlands, Russia, Singapore, South Africa, Saudi Arabia, South Korea, Trkiye, UAE, UK, the US and Vietnam. He added that the meeting focused on exploring strategic solutions for fostering multilateral trade collaboration and streamlining operational and logistical barriers to trade. "A set of ...

Trade, energy imports in focus as PM Modi to meet Trump during key US visit

PM Modi's US visit takes on added significance as Donald Trump plans to introduce reciprocal tariffs, with an announcement expected just before the Indian PM's arrival in Washington DC

Donald Trump's belligerence will help China's image as reliable partner

Trump has threatened to increase the import duties on goods from Taiwan, Europe and India

India's pharma exports set for 10x growth, targeting $350 billion by 2047

Indian biosimilar exports, presently valued at $0.8 billion, are expected to grow fivefold to $4.2 billion by 2030 and reach $30-35 billion by 2047