Govt determined to finalise RoDTEP guidelines, remission rates for exports soon: Piyush Goyal

The Department of Commerce and Department of Finance are under active consultation for early finalisation of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme guidelines and remission rates for export items, Commerce Minister Piyush Goyal told Rajya Sabha. The Home Textile Exporters’ Welfare Association had urged Commerce Minister, Piyush Goyal and Finance […]

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Exporters wary of losing orders with rampaging Corona second wave

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Emboldened by the impressive annual export numbers in 2020-21 (released early April), the exporters fraternity till recently was exuding confidence of trade figures reaching a new trajectory in 2021-22. However, with the new wave of Corona creating a more devastating impact especially since the middle of April, the exporters are now wary of a sudden […]

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Gems and jewellery exporters seek sops in India’s new foreign trade policy

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Gems and Jewllery exporters have urged the government to provide support measures in the next foreign trade policy (FTP), 2020-2025, being formulated by the commerce ministry, to boost the country’s outbound shipments. Different suggestions were made by representatives of different export promotion councils during their meeting with the commerce ministry. Gems and Jewellery Export Promotion Council (GJEPC) […]

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Diamond exporters in India demand equalisation levy relief

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Jewellery exporters in India have sought equalisation levy exemption from the finance ministry as new changes to the Income-Tax Act have impacted the procurement of rough diamonds through online auctions. The procurement of rough diamonds from global miners and traders through the e-auction process attracts additional 2 per cent equalisation levy. This has led to global miners amending the contract terms. […]

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Surat’s diamond exporters weighed down by $2 billion inventory

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While the diamond industry in Surat has heaved a sigh of relief with the resumption of exports, albeit in a small quantities, a $2 billion plus unsold inventory is weighing heavily. Though exports to Hong Kong, a major destination for India’s polished diamonds, have resumed, the industry is currently sitting on an inventory worth around $2.3 billion. […]

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Commodity price slump hits Sub-Saharan African exporters hard

Sub-Saharan African (SSA) commodity exporters will continue to suffer from the commodity price shock, despite efforts to diversify their economies and build buffers, Moody’s Investors Service said in a report. It said lower commodity prices have left many SSA commodity exporters with slower growth, weaker currencies and increased fiscal and external balances at a time […]

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