Tag: Commerce Ministry

GST rates: Concern over impact on exports of textiles & jewellery

New Delhi: The Commerce Ministry fears that a higher than expected goods and services tax (GST) rate on gems and jewellery and textiles products may make such exports noncompetitive and exporters may have to be compensated. The two items are among six on which GST rates could not be finalized in …

Exports up 4.32% to $22.11 bn in Jan

India’s exports rose 4.32 per cent in January to USD 22.11 billion mainly due to increase in shipments of petroleum products, engineering goods and iron ore even as trade deficit widened to USD 9.84 billion. Gold imports slipped by 29.94 per cent to USD 2.04 billion in January from USD 2.91…

अब बढेगा निर्यात: कॉमर्स मिनिस्ट्री कर रही है विदेश व्यापार नीति की समीक्षा

वाणिज्य मंत्रालय (कॉमर्स मिनिस्ट्री) ने सभी हितधारकों (stakeholders) के साथ परामर्श के बाद निर्यात को बढाने के लिए विदेश व्यापार नीति (FTP) की समीक्षा करना शुरु कर दिया है। वाणिज्य एवं उद्योग मंत्री निर्मला सीतारमण ने कहा कि विदेश व्यापार नीति की समीक्षा प्रक्रिया चल रही है। वाइब्रेट गुजरात समिट …

Ease of doing biz: DIPP plans to appoint consulting agency

The Commerce Ministry is planning to appoint a consulting agency for assistance in improving India’s business climate and bettering its ranking in World Bank’s ease of doing business index. The Department of Industrial Policy and Promotion (DIPP), under the Ministry, said the governme…

Indian exports at $20 bn in Nov grow 2.3% over last year

Signalling a definitive reversal of the continuous decline in Indian exports earlier in the year, official data on December 15 showed these grew for the third month in a row at $20 billion in November, an uptick of 2.29 per cent over $19.56 billion in November 2015. Data released by the Commerce …

Govt widens ambit of merchandise exports scheme

To contain a slide in outbound shipments, the government on September 22 widened the ambit of its Merchandise Exports from India Scheme (MEIS) to offer assistance on items ranging from certain varieties of garments to marine products and engineering goods, which would potentially cost the exchequ…

Commerce Ministry launches portal for e-Procurement

The Commerce Ministry has launched an e-marketplace for online purchase of goods and services by various central government ministries and departments. The move is aimed at bringing in more transparency and streamlining the government procurement of goods and services. The Directorate General of …