Day: April 17, 2023

Apr 17

Why Global Exporters Are Worrying about Economic Slowdown Crisis?

Global exporters are facing a significant challenge in the form of an economic slowdown crisis. The pandemic-induced recession has already wreaked havoc on many economies worldwide, and it looks like it will take some time for things to get back to normal. This uncertainty is causing a great deal of concern for companies that depend heavily on exporting goods and services. Know why global exporters are worrying about the economic slowdown crisis: Firstly, the economic slowdown is leading to a Read Full Details…

Apr 17

The biggest challenges before India achieve the $2 Trillion Export Target

India has set an ambitious target of achieving $2 trillion in exports by 2030. This target is critical to boosting the Indian economy and creating job opportunities for millions of people. However, achieving this target is not going to be an easy task. There are several challenges that India needs to overcome to achieve this goal. The biggest challenges before India achieves the $2 trillion export target : In conclusion, achieving the $2 trillion export target is critical for the Read Full Details…

Apr 17

Know how India manufacturing initiative ‘Make in India’ depends on high-quality products and services?

India has always been known as a land of diversity, culture, and a hub of an ancient civilization. Over the years, the country has progressed in various fields, including science and technology, finance, healthcare, and education. However, India’s manufacturing sector has faced challenges in the past, such as low productivity, inadequate infrastructure, and a lack of innovation. To overcome these challenges and enhance the country’s manufacturing capabilities, the Indian government launched the ‘Make in India’ initiative in September 2014. The Read Full Details…

Apr 17

Ease of doing business, how Indian government will remove the bureaucratic hurdles in Export Import?

India has been ranked 63rd in the Ease of Doing Business Index by the World Bank, an improvement of 14 places from the previous year. However, despite this improvement, there are still several bureaucratic hurdles that need to be addressed, particularly in the context of export-import: The Indian government has taken several steps to simplify export-import procedures. The government has introduced the Indian Customs Single Window System (ICSW) to provide a single point of contact for all import-export-related clearances. The Read Full Details…

Apr 17

New foreign trade policy tightens norms on ‘gift’ imports

It may become easier to receive Rakhis and life-saving drugs as gifts from relatives or friends abroad, under India’s new Foreign Trade Policy (FTP), even though it has tightened provisions for other gifts from overseas, including those purchased from global e-commerce portals. As per the 2015-20 trade policy, whose provisions were extended till March 31 this year, the import of gifts was free in case of goods that are otherwise freely importable under India’s foreign trade classification norms. Any other Read Full Details…

Apr 17

At China’s largest trade fair, exporters worry about world economy

GUANGZHOU, April 16 (Reuters) – Chinese exporters exhibiting their products at the country’s largest trade fair said the weak global economy was hurting their businesses, with many freezing investments and some cutting labor costs in response. The subdued mood at the Canton Fair in the southern city of Guangzhou suggests China’s unexpected jump in exports in March may have reflected exporters catching up with orders delayed last year by COVID curbs rather than renewed economic strength. The first major trade Read Full Details…

Apr 17

UAE is India’s second biggest export destination, third biggest source for imports

The UAE continues to be the second most important export destination for India, according to annual trade figures released by the Ministry of Commerce and Industry here. The US and the UAE retained the first and second places respectively in this category during the financial year 2022-23, the Ministry’s figures showed. The figures for the year were released a fortnight after the new year began. They showed that India’s overall exports of merchandise and services rose by six percent during Read Full Details…