Blocking of the online system for exporters to apply for tax incentives under the export incentive scheme MEIS has created an “extremely precarious situation” for aluminium exports, the Aluminium Association of India (AAI) said. The move will further render exports vulnerable and uncompetitive, the industry body added. India’s commerce ministry has blocked the online system […]
The gems and jewellery industry, which is witnessing an increase in export orders, is facing challenging times due to lack of skilled manpower as workers are either unable to come back due to transportation restrictions or reluctant to leave their families in times of crisis, the Gem & Jewellery Export Promotion Council (GJEPC) said. Demand […]
Exports may be on a path of recovery with the merchandise sent to foreign nations in July reaching almost the same levels as a year ago, Commerce and Industry Minister Piyush Goyal said to the media. “Our exports have almost reached last year’s July level, with nearly 90 per cent of our export of July […]
The US has broadened the scope of its sanctions on steel, stainless steel, aluminum and copper trade with Iran in a move to stop imports into the country of specialized metals that it says could be used in Iran’s nuclear, ballistic missile and military programs, deemed by the US to pose a grave threat to […]
Diesel sales, an approximate barometer of business and commerce, dropped 13 per cent in July 2020 from the previous month and were down 21 per cent year-on-year, forcing oil refiners to slash throughput. This seems to be a clear case of economic recovery slowing down after the spike in May-June this year. Manufacturing activities also […]
World’s leading rice supplier India expects exports to remain unchanged this fiscal from last year, notwithstanding a port congestion following a covid-induced lockdown. “In April and May, vessels were not available. But the impact of the pandemic on logistics is subsiding and exports have started picking up,” Vinod Kaul, executive director of All India Rice Exporters […]
Profits at Indian basmati rice companies are set to rise by 100-150 basis points this fiscal year amid low procurement prices and stable overseas demand, according to rating agency CRISIL. Paddy prices are expected to fall by 17% this fiscal from an average of Rs 36/kilogram last fiscal amid prospects of good monsoon rains that is […]
India’s rice exporters are struggling to fulfil orders due to limited availability of containers. Irregular attendance of workers at the rice mills has further disrupted operations at Kakinada, the biggest handling port on the east coast, reports Reuters. Slowing shipments from the world’s biggest rice exporter could allow rivals like Thailand and Vietnam to raise […]
Rising iron and steel exports to China, Vietnam, and Taiwan arrested the decline in outbound shipments of engineering products in June 2020, on a year-on-year (YoY) basis, vis-à-vis April and May, reveals data from Engineering Exports Promotion Council (EEPC). There was an overall decline, nevertheless, on account of shrinking exports of high-value items like consumer durables. According […]
India has been importing oilseeds more aggressively than exporting it. As per the government data for past four years, oilseeds imports to India have jumped 226 per cent as against 14 per cent dip in exports. Data from the Directorate General of Foreign Trade (DGFT), as compiled by the Solvent Extractors’ Association of India (SEA), […]
