by DIGITAL MEDIA EXECUTIVE | Apr 15, 2023 | Finance & Economy
India’s exports, buoyed by the services sector, increased 14% to a record $770 billion during the most recent fiscal year, while imports increased to a new high of $892 billion, despite a slowdown in the demand for goods owing to global headwinds. According to...
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
Thomas Cook (India) Limited, India’s leading omnichannel travel services company, inaugurated new Forex outlets at the new Manohar International Airport – at Mopa, Goa. The Company has won a 5 year contract for setting up and operating 4 foreign exchange...
by DIGITAL MEDIA EXECUTIVE | Mar 30, 2023 | Finance & Economy
There is little to no transaction going place in the local currency, which presents significant challenges for the rupee settlement mechanism. This is true even though the Reserve Bank of India (RBI) has given banks from 18 different nations permission to open Special...
by DIGITAL MEDIA EXECUTIVE | Mar 14, 2023 | Trade Analysis
According to the newspaper, Goyal added, “Textile exports have a dual difficulty. Following the Ukraine conflict, many nations are experiencing foreign exchange issues, which has caused many countries to reduce non-essential imports. He gave examples of Indian...
by DIGITAL MEDIA EXECUTIVE | Mar 8, 2023 | Finance & Economy
A recent training session on using the Indian rupee for bilateral trade settlements was held in Colombo by the Indian high commission to Sri Lanka. The usage of national currencies in transactions was the topic of discussion. According to rumours, Bangladesh and India...
by DIGITAL MEDIA EXECUTIVE | Feb 27, 2023 | Country Report
According to the Chairman of India’s Engineering Export Promotion Council (EEPC), there is a lack of understanding among banks on the International Trade Settlement process in rupees (INR), and those having exposure to the United States are scared of sanctions....
