Category: Export

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Jan 04

New Foreign Trade Policy will focus on e-commerce: DGFT

New Delhi: Indian traders should follow seven steps, including knowing trade policy and rules of origin of respective products in Australia in order to take full advantage of the recently implemented free trade agreement, according to a study by GTRI. The India-Australia free trade agreement came into effect on December 29, 2022. The Global Trade Research Initiative (GTRI) said India-Australia Economic Cooperation and Trade Agreement (ECTA) offers many concessions to exporters and imp .. Utilisation rate of India’s free trade Read Full Details…

Jan 02

Latvia’s foreign trade turnover in October 22.2% higher than a year ago

In October 2022 Latvia’s foreign trade turnover accounted for EUR 4.2 billion. In actual prices it was 22.2% higher when compared with the same month of 2021, according to data from the Central Statistical Bureau of Latvia. In October Latvia exported goods worth EUR 1.82 billion and imported good worth EUR 2.38 billion. The value of export goods, when compared with the previous month, increased by 15.7%, whereas the value of imported goods increased by 27.6%. Compared with October 2021 Read Full Details…

Jan 01

Indonesia to tighten palm oil exports from January 1

Exporters will be allowed to ship six times their domestic sales volume, less than the current ratio of eight times. Indonesia will tighten export rules for palm oil from January 1 by allowing fewer shipments overseas for every tonne sold domestically, in a move aimed at ensuring sufficient domestic supply. Exporters will be allowed to ship six times their domestic sales volume, less than the current ratio of eight times, according to a new regulation reviewed by the Reuters news Read Full Details…

Dec 31

Brazil to further increase corn exports

Brazil is expected to harvest a record corn crop in 2022-23, which usually depresses prices, but the expectation of firm demand on international markets points to sustained port differentials. The outlook is optimistic for corn exports in Brazil, which are expected to hit a record high in 2022, reaching almost 43mn metric tonnes (t), according to the national association of grain exporters (Anec). The volume would be more than double the 20.6mn t shipped in 2021, when unfavorable weather conditions Read Full Details…

Dec 30

More Initiatives On Anvil To Boost Steel Sector In 2023

With increasing steel production in the country, the focus in 2023 will be on boosting raw material supplies and producing more special grade steel, according to Union minister Faggan Singh Kulaste. India produced 113.43 million tonne of crude steel in January-November 2022, which is 10 per cent higher compared to the year-ago period. The government aims to double the country’s annual crude steel making capacity to 300 MT from 150 MT at present. In an interview to PTI, Kulaste, the Read Full Details…

Dec 30

Indonesia to Ban Bauxite Export from June 2023

On December 21, 2022, President Joko Widodo announced that Indonesia will impose a bauxite export ban starting from June 2023, in a move to shore up the domestic processing of its mineral resources. In this article, we explain what the bauxite export ban is, why Indonesia introduces the bauxite export ban, and what the potential impacts are. What is the bauxite export ban?Bauxite is the best and only material for large-scale production of aluminum, a metal that is widely used Read Full Details…

Dec 29

Russia starts foreign trade settlements in rupee, more countries to join

The Reserve Bank of India (RBI) in July this year introduced guidelines to promote the settlement of international trade in rupee New Delhi: Russia has become the first country to begin settlement of foreign trade in rupee, giving up dollar and euro all together. Recently, a few transactions in the Indian currency involving Russian firms have taken place. The Reserve Bank of India (RBI) in July this year introduced guidelines to promote the settlement of international trade in rupee. Financial Read Full Details…

Apr 25

Launch of facility to check status of Importer Exporter Code (IEC) application made to DGFT

Government of India Ministry of Commerce Industry Directorate General of Foreign Trade Udyog Bhawan, New Delhi Trade Notice No. 02/2018-19 Date: 11th April, 2018 To 1. All Regional Authorities of Directorate General of Foreign Trade 2. Members of Trade Subject: Launch of facility to check status of Importer Exporter Code (IEC) application made to DGFT Importer Exporter Code (IEC) is appliedl modified through online portal for IEC application. It has come to notice of DGFT that in some cases even Read Full Details…

Dec 17

Highlights of Mid-Term review of Foreign Trade Policy – FTP of India, Dec 05, 2017

The mid-term review of Foreign Trade Policy (FTP) of India Review 2017 The mid-term review of Foreign Trade Policy (FTP) of India focus to boost the exports of goods and services and to increase employment generation and value-addition in the country. Scope of Merchandise Exports from India Scheme (MEIS) and Service Exports from India Scheme (SEIS) enhanced. The mid-term review of FTP is aimed at mid-course correction. It was to be announced on July 1, together with the implementation of Read Full Details…

Jul 20

Export business plays an important role in the economy of the country

Export business plays an important role in the economy of the country. A healthy balance, a sustainable development with trade and foreign exchange reserves to maintain the country’s export growth and economic power; it should be a constant and high rate. Exports as a whole affect the industrial environment. To compete internationally, the industry standard for quality products, competitive price, good packaging, good quality, health and environment safety etc, which is important for overall industry. For export as a national Read Full Details…