Year: 2023

Apr 23

Know about the Amnesty Scheme Benefits to Indian Exporters under EPCG

The Indian government has recently announced an amnesty scheme for exporters, aimed at reducing litigation and encouraging exports. The scheme called the Export Promotion Capital Goods (EPCG) Scheme Amnesty, provides several benefits to Indian exporters. What is the EPCG Scheme Amnesty? The Export Promotion Capital Goods (EPCG) Scheme is a government initiative that allows Indian exporters to import capital goods for use in their manufacturing processes at zero or concessional customs duty rates. The scheme was launched to boost exports Read Full Details…

Apr 21

How Global People can learn Digital Export Import Business at Door Step?

With the growth of the internet and digital technology, the world has become more connected than ever before. This has opened up many opportunities for businesses to expand their reach beyond their local borders and tap into global markets. However, for many people, especially those living in remote or underdeveloped areas, learning about digital export-import business can be challenging. Learning about digital export-import business is essential for businesses looking to expand into global markets. By taking advantage of the resources Read Full Details…

Apr 21

Global e-Commerce Trade Market Demand and Forecast in Present Scenario

The global e-commerce trade market has been on a steady rise for the past few years, and the COVID-19 pandemic has accelerated this trend. As more people around the world turn to online shopping, the demand for e-commerce trade is only expected to increase in the coming years. Current Demand for E-commerce Trade The global e-commerce market has experienced unprecedented growth in recent years. In 2020, the global e-commerce market was valued at USD 4.28 trillion and is projected to Read Full Details…

Apr 21

Foreign trade and pensions: What’s next for Russia’s CBDC project?

The pilot for Russia’s central bank digital currency (CBDC) pilot should have been launched on April 1, but it was delayed at practically the last moment due to the slow pace of the necessary associated legislation passing through parliament. However, with the launch of the pilot still possible in May and the general roll-out of the digital ruble scheduled for 2024, the Russian project remains one of the most important CBDC developments to watch — especially given its possible role Read Full Details…

Apr 21

India’s merchandise exports may cross USD 500 bn this fiscal: Exporters

Federation of Indian Export Organisations (FIEO) said they are targeting to take the shipments to USD 500 billion-510 billion during the current financial year. Services exports are likely to reach around USD 390 billion in 2023-24 from USD 322.72 billion in 2022-23. “Together with goods and services, we are targeting exports of USD 900 billion this fiscal,” FIEO Director General Ajay Sahai said. He noted that free trade agreements with the UAE and Australia would provide a huge platform to Read Full Details…

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…