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Ministry of Commerce & Industry News
Ministry of Commerce & Industry
Coronavirus In India: Government bans export of masks, ventilator to contain COVID-19 spread
Sat, Mar 21, 2020
Coronavirus In India: The Ministry of Commerce has done the required amendment in export policy to ban the export of face masks, ventilators and textile raw material required for the making of face masks and ventilators.
Govt may consider import duty cut on raw material for fertiliser industry in Budget
Mon, Jan 27, 2020
The government may consider cut in import duty on raw material used in the fertiliser industry in the forthcoming budget with a view to boost domestic manufacturing
100-day agenda:Com min proposes major export promotion scheme to boost shipments
Mon, May 27, 2019
A new export promotion scheme has become necessary as the existing merchandise exports for India (MEIS) scheme is being opposed by the US in the World Trade Organisation (WTO), stating it is not in compliance with global trade norms, the official said.
Wholesale Price Index stands at 2.17% in May; March WPI revised
Wed, Jun 14, 2017
This month, all commodities under WPI declined by 0.4% to 112.8 from 113.2 for the previous month.
FDI up 9% in FY17 to highest level of $43.48 billion: Govt
Fri, May 19, 2017
"The FDI equity inflow received during 2016-17 is $43.48 billion... It is the highest ever for a particular financial year," it said.
Strong Rupee unlikely to impact Indian exports this time around
Tue, May 02, 2017
Rudra Sensarma, professor of economics, IIM Kozhikode said, “Since most exporters use short term forward contracts to hedge their forex exposures, they would be unfazed by the strengthening rupee unless it significantly drops below the 65-68 range it has been maintaining for more than a year."
Can Rupee save India from rising wholesale inflation?
Tue, Apr 18, 2017
Siddharth Purohit Senior Equity Research Analysts – Banking of Angel Broking said, “We believe a strong rupee should result in lower crude oil prices for Indian basket and that should keep both CPI and WPI under check in the near term.”
Wholesale Inflation eases in March but likely to rise going further
Mon, Apr 17, 2017
Following the February numbers, analysts at Motilal Oswal and Care Ratings expected WPI to be around 6.3% for last month of FY17.
WPI Inflation stood at 5.7% in March; Jan WPI revised
Mon, Apr 17, 2017
Since the start of financial year 2016-17, WPI has been rising consistently, so much so that in February it reached to a 4-year high due to rise in fuel inflation (21.0%) and lower base in the previous year’s index.
India’s exports rise over 17%, first double digit growth in two years
Wed, Mar 15, 2017
Ministry of Commerce and Industry on Wednesday put out India’s foreign trade numbers wherein the country’s exports had grown in double digits for the first time since 2014, as analyst Firat Unlu from The Economist Intelligence Unit pointed out.
Wholesale Price Index grows by 5.25% in January month
Tue, Feb 14, 2017
The official Wholesale Price Index for ‘All Commodities’ in January rose by 1% to 184.6 (provisional) from 182.8 (provisional) for the previous month.
Wholesale inflation rises to 3.39% in December
Mon, Jan 16, 2017
Wholesale Price index (WPI) or Wholesale inflation rose to 3.39% (provisional) for the month of December, 2016 (over December, 2015) as compared to 3.15% (provisional) for the previous month and -1.06% during the corresponding month of the previous year, said Ministry of Commerce and Industry.
Trade deficit in November rises to Rs 88,000 crore
Thu, Dec 15, 2016
Oil imports during November, 2016 were valued at $6837.76 million which was 5.89% higher than oil imports valued at $6457.37 million in November 2015.
Wholesale inflation grows 3.15% in November
Wed, Dec 14, 2016
The wholesale price index (WPI) or wholesale inflation stood at 3.15% for the month of November as compared to 3.39% in October and -2.04% during the same period last year, said Ministry of Commerce and Industry on Wednesday.
India’s gold imports at 11-month high in October at over 99 tons
Mon, Dec 05, 2016
Ministry of Commerce and Industry, on Monday revealed the details of gold imports in India over the past year and October’s imports which amounted to 99.62 tons valued at $3.5 billion.
Output index of eight core industries rose by 6.6% in October
Wed, Nov 30, 2016
The eight core industries comprise nearly 38% of the weight of items included in the index of industrial production (IIP).
Exports rises by nearly 10%; trade deficit widens in October
Tue, Nov 15, 2016
On cumulative basis, the value of exports for the period April-October 2016-17 was $154913.20 million.
WPI Inflation falls marginally to 3.39% in October
Tue, Nov 15, 2016
The official Wholesale Price Index for ‘All Commodities’ for the month of October, 2016 rose by 0.1% to 182.9 from 182.8 for the previous month.
GSTN, DGFT agreement to strengthen processing of exporter tax transactions, boost robotics
Fri, Oct 28, 2016
State-owned IT service provider, Goods and Services Network (GSTN) signed a Memorandum of Understanding (MoU) with Director General of Foreign Trade (DGFT) for sharing of foreign exchange realisation and Import Export code data on Thursday.
WTO meet: India calls for level playing field in agri-trade
Sun, Oct 23, 2016
India has called for creating a level playing field for developing countries in agri-trade to safeguard livelihood of millions of poor farmers. The issue, among others, was discussed during the mini-ministerial gathering of key Trade Ministers of WTO in Oslo on October 21-22.