Commerce Ministry

India’s overall exports log 14.57% growth in January 2023, climb to $65.15 billion

The country’s overall exports indicate exports of merchandise and services combined. The overall import has also witnessed a marginal increase of 0.94 per cent to $66.42 billion in January 2023 as compared to $65.80 billion that the country registered in January 2022

Commerce Ministry seeks cut in gold import duty in Budget to push jewellery exports

In July this year, the Centre hiked gold import duty to 15 per cent from 10.75 per cent to check the current account deficit (CAD) and rising import of the yellow metal. The basic customs duty on gold is 12.5 per cent

India, Gulf Cooperation Council agree to pursue free trade agreement; resume talks, says Piyush Goyal

India's exports to the GCC member countries grew by 58.26 per cent to about $44 billion in 2021-22 against $27.8 billion in 2020-21, according to data from the commerce ministry

WPI inflation falls to single digit in October at 19-month low of 8.39%

The decline in October inflation is primarily contributed by fall in the price of mineral oils, basic metals, fabricated metal products, except machinery and equipment; textiles; other non-metallic mineral products; minerals, the commerce ministry said

Commerce ministry proposes host of direct and indirect incentives to revamp Special Economic Zones

In the Union Budget this year, the government proposed to replace the existing law governing Special Economic Zones (SEZs) with a new legislation to enable states to become partners in 'Development of Enterprise and Service Hubs'

Exports rise by 15.46% to $37.3 billion in May; trade deficit balloons to $23.33 billion

Meanwhile, imports during May 2022 grew by 56.14 per cent to $60.62 billion and the trade deficit stood at $6.53 billion in the same month last year, according to the commerce ministry

Import of paper to be brought under compulsory registration from October 2022

Directorate General of Foreign Trade issued a notification to this effect on 25 May

India's agriculture exports cross $50 billion mark for first time

As per the provisional figures, agricultural exports rose to USD 50.21 billion in 2021-22, which is 19.92 per cent higher compared to the previous year

National Retail Trade Policy: How Centre seeks to change retail trading in the country

As the nation battles the coronavirus pandemic with the emergence of new COVID-19 variants like Omicron, the significance of retail supply chains becomes clear in ensuring essentials are available across the entire country.

India's exports jump 45% to $33.14 bn in August 2021; trade deficit at $13.87 billion

The exports during April-August 2021 stood at $163.67 billion, an increase of 66.92 percent over $98.05 billion in the same period a year ago, the data showed