Unveiling the much-awaited Foreign Trade Policy, Commerce Ministry on Friday broke the tradition of a policy lasting for five years and will instead adopt a ‘long-term’ focus. There is no end date to the policy and will be updated as and when necessary, the ministry said. Source link
The government will identify close to 100 districts across the country to turn them into export hubs by adopting a “bottom-up approach”, Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said on Friday. “Our idea is to involve more youngsters at the district level (like collectors) so that they see the initiative to boost … Read more
In a relief to exporters from hotel, healthcare, and educational sectors, the government on Friday announced a one-time relaxation for them with respect to maintaining the average export obligation under the Export Promotion Capital Goods (EPCG) scheme. Under the scheme, imports of capital goods are allowed duty free, subject to an export obligation. The latest … Read more
The government has amended the Foreign Trade Policy to allow international trade invoicing, payment and settlement in the Indian rupee, activating the mechanism announced by the Reserve Bank of India (RBI) to facilitate trade in the domestic currency. The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry on Friday notified … Read more
Commerce and industry minister Piyush Goyal will chair a meeting of the reconstituted board of trade on Tuesday to discuss ways to boost the country’s manufacturing and exports. The meeting comes ahead of the government likely to announce the new Foreign Trade Policy later this month and the country’s merchandise exports shrinking 1.15% in August- … Read more