scorecardresearch
Friday, March 29, 2024
TopicMinistry of Commerce and Industry

Topic: Ministry of Commerce and Industry

India’s trade deficit with China is so far lower in 2023 than last year. Here’s why

Smaller deficit this year could be down to slowing Chinese economy. In terms of volume, Indian exports to China remain roughly one-tenth of Chinese exports to India.

New import management system still restricts import of laptops. Licence has now become ‘authorisation’

Govt had announced in August that imports of laptops, PCs, tablets etc would require a licence. This has now been tweaked, but these items remain in 'restricted' category.

Industry reacts to import curbs on laptops & PCs — ‘timing not ideal’ but boost to Make in India

China accounted for 58% of inflow of 7 items imports of which are now restricted. Move could've been prompted by 'genuine apprehension of a future security risk’, it is learnt.

India foreign trade crosses $1tn in 2022. Record $100bn imports from China widen deficit

With exports worth $453 billion and imports to the tune of $723 billion, India’s overall international trade reached $1.17 trillion, 21% above previous year’s $969 billion, official data show.

Modi govt just expanded scheme to give exporters tax refunds. Why steel industry isn’t cheering

RoDTEP gives refunds to exporters on embedded taxes & duties. But, Indian Steel Association says govt's move doesn't cover sector, which remains weighed down by 4-12% of levies.

Decriminalisation bill can end Inspector Raj and create jobs, wealth and large enterprises

India’s predatory and rent-seeking policy infrastructure ensures that businesses choose to remain under the regulatory radar.

Mobile phones boom puts India on course to beat 2019-20 electronic goods exports record by 30%

Latest commerce ministry data shows electronic goods exports touched Rs 83,000 cr in the first 3 quarters of FY22 — a 26% rise over FY20, when the country hit its previous high.

Cabinet clears Rs 100 lakh-crore Gati Shakti master plan for infrastructure

Modi on 13 October launched the national master plan for multi-modal connectivity. It targets to cut logistic costs, increase cargo handling capacity and reduce the turnaround time.

Nirmala Sitharaman asks banks to work with states to push ‘one district, one product’ agenda

Finance Minister Sitharaman further said there should be a simple approach between public sector banks so that exporters are not be made to run between banks to scout for better offer.

India’s FDI inflow grew by 19% to $59.64 billion in 2020-2021, says commerce ministry

In terms of top investor countries, Singapore is at the top with 29 per cent share. It was followed by the US with 23 per cent and Mauritius with 9 per cent during the last fiscal.

On Camera

Sheikh Hasina battling ‘India Out’ campaign with Indian saree. But has she made it worse?

Hasina is unabashedly India’s best friend in the neighbourhood. But Delhi is hard put to match China’s deep pockets and big investments in Dhaka.

Congress attacks chief economic advisor over statement on unemployment, asks BJP govt to ‘vacate seat’

While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'.

Amid plans to lift AFSPA, Army starts joint training with Jammu & Kashmir Police

In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.

For BJP, Kejriwal is an idea whose time has come to be destroyed

The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.