India attempted to restrict imports of electronic devices last year, but the plan was abandoned due to opposition from manufacturers. The government now believes it has provided importers with enough time to adapt.
India's exports witnessed a sharp decline of 9.3% in August 2024, falling to USD 34.71 billion compared to the same period last year. The drop reflects challenges faced by the export sector amidst global economic uncertainties.
According to the latest data released by the government, the exports rose on a year-on-year basis in June and going by the trend, the country's total exports of goods and services may cross USD 800 billion this fiscal.
The protesters burned tyres and threw firecrackers outside PM Donald Tusk's office in the Polish capital as they protested against food imports from Ukraine and the EU's plan on climate change. Police used tear gas, pepper sprays and stun grenades to quell the protest in Warsaw.
The major contributing sectors were electronics, pharmaceuticals, cotton yarn, fabrics, ceramics, meat, dairy, poultry products, fruits, vegetables, and information technology.
"We have an opportunity to strengthen alliances around the world to maintain stability. That's what this trip is all about," Biden said.
India's wheat production had fallen to 107.74 million tonnes in the 2021-22 crop year (July-June) from 109.59 million tonnes in the previous year.
Countervailing measures are put in place to offset imports being sold at unfair prices due to government subsidies in their country of origin.
Out of the total imports, the quantity of refined palm oil stood at 11,44,496 tonnes, crude palm oil at 36,59,699 tonnes, crude soyabean oil at 33,30,556 tonnes and crude sunflower oil at 15,03,627 tonnes.
As per the notice, the ban would remain in place till the end of this fiscal year which ends in mid-July.
The Agriculture Ministry on Wednesday extended relaxed fumigation norms for imported onions up to December 31, in a bid to improve domestic supply and check prices that have skyrocketed up to Rs 100 per kg.
Safeguard duty is a trade remedy available to World Trade Organization member-countries. It is imposed to provide a level-playing field to domestic players in case of sudden and significant increase in imports of a product.
Two Inter Ministerial teams are to be dispatched on Wednesday and Thursday to Karnataka and Rajasthan to take stock of the onion supplies and encourage the supplies to consuming regions including Delhi-NCR.
India's exports contracted by 6.57 per cent to USD 26 billion in September mainly due to significant dip in shipments from key sectors such as petroleum, engineering, leather, chemicals, and gems & jewellery.
"Import policy of agarbatti and other odoriferous preparations which operate by burning ...is revised from free to restricted," the Directorate General of Foreign Trade (DGF) said in a notification. Restrictions have also been imposed on imports of other odoriferous preparations used for deodorising room. Its imports increased to USD 12.35 million in 2018-19 from USD 7.51 million in 2017-18.
The Directorate General of Trade Remedies (DGTR), under the commerce ministry, has initiated the probe as it has found evidence of dumping of "coated/plated tin mill flat-rolled steel products" from these countries.
Production of the total finished steel grew 4.4 per cent to 109.18 MT from 104.56 MT in the corresponding period of the previous fiscal.
The Commerce Ministry had suggested to the Department of Revenue to amend the notification for further extension of retaliatory measures for another 45 days.
"I'm ready to go to 500," he told CNBC's Joe Kernen in a "Squawk Box" interview broadcasted on Friday.
The RBI said the decision to discontinue the practice of LoUs and Letters of Comfort (LoCs) for trade finance comes into force with immediate effect.
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