Exports
Govt cuts minimum export price for basmati by $300/tn
The government has decided to slash the minimum export price (MEP) for basmati, Finance Secretary Ashok Chawla said. He said the decision to reduce the export floor price of the premium long grain rice was taken at the meeting of empowered Group of Ministers on food security late on Monday. A senior government official had [...]
Exports continue to slide
India”s exports fell 26% from a year earlier in July, federal Commerce Secretary Rahul Khullar said Tuesday. Exports fell despite government”s statement that it would continue the incentives already given to exporters and for good measure add some more in the foreign trade policy to be announced on August 27. “Cumulative exports during April-July are [...]
Experts observe early signs of recovery in exports
Exports fell for the nine-month in a row in June due to the global turmoil. However, there are early signs of recovery in overseas sales, which could register growth from September onwards, according to a finance ministry official. HAC Prasad, senior economic advisor in the finance ministry based his hypothesis on the sequential growth witnessed [...]
Exports decline 27.7%, imports by 29.3% in June
On account of the global recession, India’s exports fell for the ninth month in a row in June, this time by 27.7% whereas imports dropped by 29.3% showing slowdown in domestic market. Additionally, as the India’s total imports are immensely influenced by a whopping decline of 50.6% in oil imports it showed a faster pace [...]
Govt may relax EPCG provisions for exporters in FTP
Commerce Minister Anand Sharma is likely to scrap the unwanted paperwork to reduce transaction costs for exporters while unveiling the new Foreign Trade Policy (FTP). However, as most of the capital goods are levied a basic customs duty of 7.5%, the duty under the Export Promotion Capital Goods (EPCG) scheme is 3%, leaving less room [...]
Sharp fall in Indian exports arrested, says Minister
The sharp fall in Indian exports seems to have been arrested despite of the fact that there was no sign of recovery in the global economic scenario, the government on July 27 said in the Lok Sabha. This is on account of various measures taken by the government that includes two stimulus packages as well [...]