by DIGITAL MEDIA EXECUTIVE | Jun 8, 2023 | Market Reports
The Comprehensive Economic Partnership Agreement (CEPA), which has been in effect for a year, will be discussed at a two-day meeting between senior government representatives from India and the UAE starting on June 11. A person with knowledge of the situation stated...
by DIGITAL MEDIA EXECUTIVE | May 29, 2023 | Business & Policy
To foster an environment where micro, small, and medium-sized enterprises (MSMEs) may grow their operations and draw in more investments, the government will provide incentives for the construction of industrial parks on private property. Despite the fact that...
by DIGITAL MEDIA EXECUTIVE | May 19, 2023 | cotton industry, COTTON PRICE
According to a segment of the cotton trade, India has reached its 51,000-tonne duty-free import cap of Australian cotton for 2023. However, if prices are at the proper level, there may be room for more imports. To reestablish contact with cotton players in this...
by DIGITAL MEDIA EXECUTIVE | May 8, 2023 | cotton industry, COTTON PRICE
The domestic market for cotton is seeing fewer arrivals, which is causing a rise in the demand for imported cotton in the textile industry. Sources claim that 2.50 lakh duty-free bales from Australia have been ordered by Indian spinners. In three months, this cargo is...
by DIGITAL MEDIA EXECUTIVE | May 4, 2023 | Business & Policy
India’s recently announced Foreign Trade Policy (FTP 2023), which went into effect on April 1 of this year, is evidence of the country’s policymakers’ forward-thinking and practical outlook. The initiative, which was started with the goal of reaching...
by DIGITAL MEDIA EXECUTIVE | Apr 20, 2023 | cotton industry, Finance & Economy
The Indian government has been petitioned by the textile sector to waive the 11% import charge on cotton. The levy on cotton imports was established by the Indian government three years ago. At the time, it made sense because Indian cotton was less expensive than...
by DIGITAL MEDIA EXECUTIVE | Apr 14, 2023 | Business & Policy
Tamil Nadu’s textile sector has requested export incentives and extra credit support in the Union government’s budget for 2023–24, which will be presented in Parliament on February 1. The Tiruppur textile industry, the first to export textiles from Tamil...
by DIGITAL MEDIA EXECUTIVE | Apr 12, 2023 | Finance & Economy
The Union Budget 2023 has several provisions to promote the growth of the textile industry in India. The budget allocates a total grant of Rs. 4,389.34 crore for textiles, which is 22.6% higher than the revised budget grant for 2022-23. The launch of new schemes and...
by DIGITAL MEDIA EXECUTIVE | Apr 11, 2023 | Finance & Economy
The Finance Ministry decided on Thursday to cancel demurrage as well as penal interest costs on late customs payments, despite the fact that importers continue to experience difficulties and hiccups navigating the new “upgraded and modern” Customs duty...
by DIGITAL MEDIA EXECUTIVE | Apr 11, 2023 | Finance & Economy
Officials predict that the government will continue to offer the enlarged duty waiver programme to exporters after the deadline in September, easing the burden on the chemical, steel, and pharmaceutical industries. The Remission of Duties and Taxes on Exported...
by DIGITAL MEDIA EXECUTIVE | Apr 11, 2023 | Corporate Update
Following concerns from the domestic industry, the investigative branch of the commerce ministry, DGTR, has opened a review of the necessity of maintaining the anti-dumping tariff on flax yarn imported from China. Before the Directorate General of Trade Remedies...
by DIGITAL MEDIA EXECUTIVE | Apr 10, 2023 | Import/Export
Prior FTPs placed a strong emphasis on paying exporters according to their export performance. Transferrable scrips served as the medium of payment. They could be employed to pay customs duties. There were also numerous exemption plans. The transition to remission...