Day: April 3, 2023

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Apr 03

How Digital Technology, Artificial Intelligence, and Data Science Helps in Boosting Foreign Trade?

The world is becoming increasingly interconnected, and international trade has become a vital component of many countries’ economies. The adoption of digital technology, artificial intelligence (AI), and data science is revolutionizing the way businesses operate, and foreign trade is no exception. These technologies are offering new opportunities to enhance foreign trade, improve efficiency, reduce costs, and increase competitiveness. In this article, we will discuss the various ways in which digital technology, AI, and data science are being leveraged to boost Read Full Details…

Apr 03

India’s Foreign Trade Policy 2023: Can It Help Achieve the $2Tn Trade Target?

The Indian government has set a target of achieving $2 trillion in foreign trade by 2030, which is an ambitious goal considering the current economic conditions and geopolitical situation. To achieve this target, the government has announced the Foreign Trade Policy (FTP) 2023, which is a comprehensive roadmap for boosting exports and reducing imports. The FTP 2023 has identified several key areas for boosting India’s foreign trade, including improving the infrastructure, simplifying procedures, increasing access to credit, and promoting innovation Read Full Details…

Apr 03

High-quality and unique products have Strong opportunities in Foreign Trade

High-quality and unique products have strong opportunities in foreign trade, and this is a fact that has been proven time and time again. With the rise of globalization and the increasing demand for quality products in international markets, businesses that prioritize producing high-quality and unique products are well-positioned to succeed in foreign trade. One of the main reasons why high-quality and unique products have strong opportunities in foreign trade is that they stand out from the competition. In today’s global Read Full Details…

Apr 03

Harmonize trade policy with India’s broad goals

India’s new Foreign Trade Policy (FTP), unveiled on Friday by commerce minister Piyush Goyal, took some time coming. The last one was meant for a five-year span that ended just as covid began in March 2020. This one has no expiry date, but it sets an export target of $2 trillion by 2030, up from goods and services worth roughly $750 billion that we expect to log in 2022-23. Apart from easing trade in general, its chief aim is to Read Full Details…

Apr 03

Centre to expand definition of ‘political risk’ under export guarantee scheme

The new FTP will cover any fresh imposition of non-tariff barriers by importing nations after a shipment has left Indian shores Exporters may soon be able to get insurance cover for some losses suffered on account of countries’ sudden imposition of barriers to trade, under the new Foreign Trade Policy (FTP), which also envisages the formation of a “whole of government” ministerial panel to address the grievances of small exporters. ALSO READ Government vows swifter nod for exportersThe government will Read Full Details…

Apr 03

Amnesty scheme, incentives for repayment in new foreign trade policy

AN AMNESTY SCHEME for one-time settlement of default in export obligation, a push towards e-commerce exports, and incentives to exports that are paid for by rupee, are the key focus areas of the government’s new foreign trade policy announced Friday by Union Commerce, Industry and Textiles Minister Piyush Goyal. Source : indianexpress.com/ For More Details

Apr 03

Morocco’s Import Unit Value Increase by 17% in Fourth Quarter of 2022

Morocco’s High Commission for Planning (HCP) said on Monday that the import unit value index increased by 17% in the fourth quarter of 2022, compared to the same period in 2021. A unit value import, export index is an index that measures the change in the average cost of imported and exported goods. The upward trend is primarily due to increases in imports of energy and lubricants by 33.2%, semi-finished goods by 24.8%, and food, drink, and tobacco by 19.6%. Read Full Details…