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Commerce Ministry News
Commerce min recommends continuation of anti-dumping duty on chemical from China
Tue, May 05, 2020
According to global trade norms, a country is allowed to impose tariffs on such dumped products to provide a level-playing field to domestic manufacturers. The duty is imposed only after a thorough investigation by a quasi-judicial body, such as DGTR, in India.
Government bans onion exports with immediate effect
Sun, Sep 29, 2019
The Commerce Ministry on Sunday prohibited export of all varieties of onions with immediate effect, till it comes up with further orders. The decision comes on the backdrop of surging prices of the bulb in the country.
Commerce Ministry for anti-dumping duty extension on aluminum alloy wheels from 3 nations
Tue, Apr 02, 2019
The commerce ministry has recommended extension of anti-dumping duty on aluminum alloy wheels from China, Korea and Thailand for another five years.
Government lays out procedure for claiming benefits under TMA scheme for agriculture exports
Mon, Apr 01, 2019
The commerce ministry has laid out a detailed procedure for claiming benefits under the Transport and Marketing Assistance (TMA) scheme, which aims at boosting agricultural exports.
Commerce ministry to notify WTO regarding revoking MFN status to Pakistan
Fri, Feb 15, 2019
After the Pulwama terror attack on Thursday, India on Friday withdrew the MFN status to Pakistan. Following this, India can raise customs duties on goods being imported from Pakistan up to the bound level duty rates. Currently, India's custom duties on goods to members of the WTO are below the bound level rates.
Preparing incentive package for exporters to address their woes : Suresh Prabhu
Mon, Dec 24, 2018
The minister said there has been a sharp decline in credit to the export sector and the department of commerce has taken up the matter with the finance ministry and with the RBI.
Gold imports rise 22% to USD 33.65 billion in 2017-18
Fri, Jul 27, 2018
Increase in gold imports pushed the country's trade deficit to USD 157 billion in the last fiscal, an increase of about 45 per cent as compared to the year ago period.
Commerce Ministry discusses regulatory issues of startups
Sat, Mar 24, 2018
Startup issues like presence of pharmacist at e-pharmacy platforms, streamlining of application process for NBFCs by the Reserve Bank, reforms in current guidelines for UAV sector, "which does not allow for manufacturing of drones, and vehicle specifications for door to door retail delivery of petroleum, were discussed at length," Commerce Ministry said in a statement
ComMin for single GST rate on multimodal transport of vehicles
Sun, Jan 28, 2018
Multimodal transportation includes a combination of more than one mode of movement, such as rail, road or sea, for end-to-end delivery of goods
Centre, states, industry to discuss export situation on Jan 8
Mon, Jan 01, 2018
In its previous meeting in January last year, issues deliberated upon included improving export competitiveness and creating an environment conducive for promoting exports. They had also discussed about quality and standards of products.
Commerce Ministry panel suggests change in SEZ rules
Tue, Dec 26, 2017
A Commerce Ministry-appointed panel has suggested that the Board of Approval (BoA), the highest decision making body for SEZs, should be given additional powers to exempt units and developers from certain rules to promote these zones.
India eyes African nations to increase export of non-basmati rice
Tue, Dec 19, 2017
According to official data, India had exported 5.66 million tonnes of non-basmati rice in 2016-17 and the shipments were 3.51 million tonnes in the first six months of the current fiscal.
Govt to prepare detailed research report to promote exports
Sun, Dec 03, 2017
Recently, Prabhu made a case for treating support measures to promote exports as investment and not subsidies, arguing that outbound shipments contribute in a big way to boosting growth.Exports in October had entered the negative zone again, dropping 1.12%.
China steps up capital controls, tightens investment rules for state firms
Wed, Jan 18, 2017
China issued regulatory rules on outbound investments by centrally-controlled state firms, the state asset regulator said on Wednesday, the latest move by Beijing to tighten controls on money moving out of the country and stabilise a faltering yuan.
Keep labour-intensive sectors out of GST ambit: Nirmala Sitharaman
Tue, Jan 03, 2017
Commerce and Industry Ministry on Tuesday asked the GST Council to grant ab-initio exemption to exporters from the Goods and Services Tax (GST) and keep the labour-intensive sectors like leather and plantation completely out of the tax net or put them in lowest slab.
China launches WTO dispute resolution case against US, EU
Mon, Dec 12, 2016
China said on Monday it had launched a dispute resolution case at the World Trade Organisation (WTO) over the surrogate country approach used by the United States (US) and European Union (EU) to calculate anti-dumping measures against Chinese exports.
Apple holds talks with Indian government on opening stores
Wed, Dec 07, 2016
Apple Inc officials on Tuesday met Commerce Ministry top brass amid its plans to open stores in India without initially having to source components locally.
Exports rises up nearly 5% to $22.9 billion in September
Sat, Oct 15, 2016
Signalling a clear reversal of the continuous decline in Indian exports, official data on Friday showed September exports at $22.88 billion grew 4.62% over exports recorded in the same month last year at $21.87 billion.
Gold imports decline by 51% to $2.7 billion in April-May
Sun, Jul 03, 2016
The sliding prices of the precious metal in both global and domestic markets are seen as a contributory factor for the plunge.
Extend tax holiday for startups to 7 years: Nirmala Sitharaman tells Finance Ministry
Mon, May 30, 2016
Sitharaman said lots of inputs from startups have been received and "recommendations have gone to the Finance Ministry for extending the 3-year tax holiday to 7 years".