New foreign trade policy may have simpler export promotion schemes
Monday, October 21, 2019, 5:25 PM
The commerce ministry is considering rationalising and simplifying certain export promotion schemes such as EPCG in the next foreign trade policy, which provides guideline and incentives for increasing shipments, an official said. The ministry is in consultation with all stakeholders for the preparation of the next policy (2020-25), as the validity of the old one ends on March 31, 2020, the official said.
US expresses concern over trade deficit with India
Friday, September 13, 2019, 5:39 PM
The US on Friday expressed concern over the trade deficit with India and the challenges being faced by American companies to invest. Addressing the Indo-US Economic Summit here, US Minister Counselor for Commercial Affairs Aileen Nandi however hoped to explore possibilities at the US-India Business CEO Forum to strike a trade balance between the two countries.
India's July trade deficit narrows to $13.43 billion
Wednesday, August 14, 2019, 9:11 PM
India's trade deficit in July narrowed to $13.43-billion from $18.63-billion a year ago, the trade ministry said in a statement on August-14, helped by lower-oil import bill. Oil-imports dived 22.15% to $9.60-billion in July from $12.33 billion in a year-ago period. Merchandise exports rose 2.25% to $26.33-billion in July compared with a year earlier, while imports were down 10.43% at $39.76-billion, the data showed.