Parliamentary consultative committee reviews trade performance
Source: PIB, Government of India Parliamentary Consultative Committee (attached to the Ministry of Commerce & Industry) held its meeting at Goa on Friday and reviewed India’s trade performance during the current financial year. The meeting was chaired by Commerce Minister Nirmala Sitharaman and was attended by Dinesh Trivedi, MP(Lok Sabha), Jyoti Dhurve, MP(Lok Sabha) and Ajay Sancheti, MP(Rajya Sabha). Director General, Foreign Trade (DGFT) Anup Wadhawan apprised the committee of the India’s trade performance in the current financial year. DGFT also gave a detailed presentation highlighting the important provisions of Foreign Trade Policy 2015-2020. He gave a summary of the export performance during the period April-September, 2015. He informed that Exports during this period have decreased by 17.6 %. Imports decreased by 14.2 % Trade ...
Government ready to improve competitiveness of Indian exporters: FM
The Dollar Business Bureau Taking note of the falling exports from the country, Finance Minister Arun Jaitley has agreed to take prompt measures to improve competitiveness for Indian exporters in the international market. The government data shows that India’s overall merchandise export in the first two months of the current financial year has contracted by more than 17% to $44.4 billion as against $53.6 billion registered during the same period a year ago. Trade analysts say that the lack of competitiveness of Indian exporters and their product in the global market is the main factor behind the country’s falling exports. On Friday, a delegation of exporters led by SC Ralhan, President of Federation of Indian Export Organisations (FIEO), met the finance ...
A very special Labour Day!
Steven Philip Warner | The Dollar Business There is no denying that the new Foreign Trade Policy comes with many incremental alterations. But humans err. Which is why FTP 2015-2020 isn’t flawless! May 1st is a special date. Today, The Dollar Business (TDB) launched its 12th issue – it’s a year old giant now! We consider it a milestone – not one that has every concerned TDB insider bouncing off the walls, but definitely one that titillates our nerves to the extent that the resonance can be heard through a stethoscope. What makes this Labour Day special is that it marks a year since TDB got its first online impression (as I write, the online visitor counting ticker on our ...
Rains affect Indias tea exports
The Dollar Business Bureau Delayed rain fall and increased competition in the international market led to a steep fall in India’s tea exports last year. The country earned Rs 3,485 crore by exporting 180 million kg of tea during last year (April-Feb). The volume was less than 4,509 registered a year ago when India exported 225 million kgs of tea. “Volume of export of Indian tea during 2014-15 has been lower than the level registered during 2013-14 primarily on account of fall in production of Assam orthodox tea caused by delayed rains,” said Nirmala Sitharaman, Minister of State, Commerce and Industry. Other factors that contributed to the decline are increased supplies from Kenya leading to a reduced average price ...
New FTP simplifies and merges all merchandise incentive schemes
Shakti Shankar Patra | The Dollar Business In a much needed simplification procedure, the Modi Sarkar has merged all existing merchandise export incentive schemes like Focus Market Scheme (FMS), Focus Product Scheme (FPS), Market Linked Focus Product Scheme (MLFPS), Vishesh Krishi & Gram Udyog Yojana (VKGUY) and Agri Infrastructure Incentive Scheme (AIIS) to come up with a single Merchandise Exports from India Scheme (MEIS). Part of the much-awaited and much-delayed Foreign Trade Policy (FTP) that was released at Vigyan Bhawan in New Delhi on Wednesday, MEIS, essentially, tells an exporter that a product, when exported to a particular country, will fetch a certain percentage of the FOB value. This does away with the need to keep a constant eye on ...
FOREIGN TRADE POLICY 2015-20 & OTHER IMPORTANT DOCUMENTS
FOREIGN TRADE POLICY (2015-2020)UPDATED AS ON JANUARY 01, 2016 BY THE DOLLAR BUSINESS INTELLIGENCE UNIT HANDBOOK OF PROCEDURES (2015-2020) - UPDATED AS ON FEBRUARY 03, 2016 BY THE DOLLAR BUSINESS INTELLIGENCE UNIT FOREIGN TRADE POLICY STATEMENT APPENDICES AND ANF OF FTP (2015-2020) - UPDATED AS ON OCTOBER 01, 2015 BY THE DOLLAR BUSINESS INTELLIGENCE UNIT MERCHANDISE EXPORTS FROM INDIA SCHEME (MEIS) - UPDATED AS ON JULY 16, 2015 BY THE DOLLAR BUSINESS INTELLIGENCE UNIT
