To allay the fears of the exporting community, the Commerce Ministry on June 21 said that enforcement would not be harsh during the initial period of GST implementation from July 1. “Any transition will require some adjustment. Exporters will get an extended two months time for filing retur…
Tag: Rita Teaotia
India should be a standard setter, not follower: Nirmala Sitharaman
New Delhi: India should be setting quality standards for products rather than following global norms, Commerce and Industry Minister Nirmala Sitharaman said, stressing on timely dissemination of regulations for better implementation. Addressing the 4th National Standards Conclave here, she called…
Services need to gear up for Industrial Revolution 4.0: Nirmala Sitharaman
Greater Noida: India’s services sector must gear up to take advantage of Industrial Revolution 4.0, which will create huge opportunities in high-tech manufacturing, Commerce Minister Nirmala Sitharaman said. Emphasising on the growing importance of services sector, she said India has also r…
GST: Relief for exporters, Govt says refunds to be given within 7 days
In a major relief to exporters, the government has agreed to refund as much as 90% of their duty claims just within a week under the new goods and services tax (GST) regime, Commerce and Industry Minister Nirmala Sitharaman said on January 5. The revenue department of the finance ministry has agr…
Budget 2017: PM orders DIPP to focus on impactful steps for economy
The departments of commerce as well as industrial policy and promotion are focussing on measures that are important and yet have “limited budget implications” so that they can be considered for inclusion in the upcoming Budget papers, senior government officials told. The process started after a …
Demonetisation Effect | Exports may hit slowdown, says Rita Teaotia
The country’s exports will likely face a temporary “slowdown” due to the cash crunch following the announcement of demonetisation on November 8, according to Commerce Secretary Rita Teaotia. Already, merchandise exports witnessed a rise in only three of the past 23 months through October. Small a…
Chile grants concession for importing textiles, leather, handicrafts from India
Chile has granted concession for importing transport equipment, pharmaceuticals, yarn of polyester fibres, tyres and tubes, chemicals, textiles, readymade garments, plastic goods, leather, engineering goods, imitation jewellery, sports goods and handicrafts from India. With India and Chile expand…
US to bring SME best practices, tech to India; encourage start-ups
India and US decided to share best practices and technology in the Small and Medium Enterprises (SME) sector while the latter will bring its ‘Silicon Valley to India’ to encourage start-ups here. The two countries held their second Strategic and Commercial Dialogue (S&CD) in New D…
E-commerce platform can give SMEs access to global markets: Rita Teaotia
E-commerce platform is fast emerging as a new trend in global trade and SMEs should use this medium to get direct access to the world markets, a top government official said today. Commerce Secretary Rita Teaotia said the e-commerce platform significantly reduces the interference of middleman and…
Trade Facilitation Agreement envisages faster clearances & transparency in trade process | Nirmala Sitharaman
The MoS for Commerce & Industry, Nirmala Sitharaman said that Trade Facilitation Agreement (TFA) envisages faster clearances and reduction of red tapism at the borders and would thereby help in the ease of doing business. She said that ratification of the TFA is bound to change the Indian tra…