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commerce ministry News

Commerce Ministry sees export boost in 354 items

Of the 774 American tariff lines (items) on which China has imposed extra duties, India can ship out more and replace the US, especially in 151 items, the Commerce Ministry study suggests.

Piyush Goyal takes charge as Commerce Minister, says will study ‘all issues’

Goyal held several ministerial posts in the previous NDA government, first as the Minister of State for Power, New and Renewable Energy, Coal and Mines, and later as the Union Minister of Railways. In 2018, he temporarily took additional charge as Finance Minister during Arun Jaitley’s absence due to medical issues.

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Commerce Ministry working on new support measures for next foreign trade policy

Under the policy, the government announces steps for exporters. Currently, the government has two schemes – merchandise and services export from India scheme. The Finance Ministry has to allocate funds for these schemes.

Commerce Ministry panel suggests change in SEZ rules

In order to align the SEZ (special economic zones) rules 2006 with the GST (Goods and Services Tax) laws as well as for removal of various difficulties faced, the committee was constituted by the ministry to make necessary recommendations.

Govt considers Rs 3,000 crore incentive to revive slipping exports

Reeling under sliding exports due to slow global demand, exporters have been urging the government for some time now to release the interest subvention allocated in the Budget.

Decline in global demand: ComMin to meet next week over falling exports

India’s export fell for a ninth straight month — 20.66% from a year earlier to $21.26 bn in August.

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Don’t want fly-by-night operators in defence, banks: Nirmala Sitharaman

Sitharaman’s statement means though the sectoral foreign investment cap in banking is 74 per cent, FPIs can invest up to 49 per cent only.

Exports slide 15.82% in June on manufacturing slump, slow revival

Imports contracted by 13.4 per cent at $33.1 billion against $38.24 billion during the year-ago period, narrowing the trade deficit to $10.9 billion.

New foreign trade policy: $900 bn exports by FY20

In FTP 2015-2020, the commerce ministry provided for a slew of incentives for exporters and special economic zones.

FinMin says no to withdrawal of taxes on SEZ developers

FinMin says that it would bleed the exchequer dry by Rs 15,000 crore every year.

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