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India asks Indonesia to import buffalo meat through Medan port instead of Jakarta; here’s why
Business

India asks Indonesia to import buffalo meat through Medan port instead of Jakarta; here’s why

There are 89 buffalo meat processing facilities in the country, including six slaughterhouses that are permitted to export buffalo meat. India exported $ 2.1 billion worth of buffalo meat from April to November in the current fiscal year.

India Week 2023: Reimgining India-UK future after FTA deal
World

India Week 2023: Reimgining India-UK future after FTA deal

A Free Trade Agreement between India and the UK is expected to enhance economic growth and prosperity by increasing import and export flows; increasing investment flows (both outward and inward); enhancing productivity through a more efficient allocation of resources; and greater openness to interna

Contraction in exports, surging imports raise concerns over India's widening trade deficit
Sports

Contraction in exports, surging imports raise concerns over India's widening trade deficit

On Saturday, the government released preliminary data that showed India's exports fell by 1.15 per cent year-on-year to $33 billion in August, while imports rose 36.8 per cent to $61.7 billion

Why are India’s tractor exports soaring? Which countries are making the most buys?
Explainers

Why are India’s tractor exports soaring? Which countries are making the most buys?

Commerce and industry minister Piyush Goyal tweeted that India’s exports of tractors registered a spectacular growth of 224 per cent in April-July 2022 over the same period in 2013. In February, tractor exports crossed the one-lakh mark for the year for the first time

Russia’s key pipeline restarts pumping gas to Germany: The significance of the Nord Stream 1
World

Russia’s key pipeline restarts pumping gas to Germany: The significance of the Nord Stream 1

Nord Stream 1, which is Germany's main source of gas, resumed operations after it shut down on 11 July for maintenance work. There had been concerns across Europe that there could be a complete shutdown of gas supplies via the pipeline from Russia

Ukraine president Volodymyr Zelenskyy makes a surprise appearance at Qatar's Doha Forum
World

Ukraine president Volodymyr Zelenskyy makes a surprise appearance at Qatar's Doha Forum

Zelenskyy called on countries to increase their exports of energy — something particularly important as Qatar is a world leader in the export of natural gas

Budget 2022: Exporters seek support measures to boost shipments
Business

Budget 2022: Exporters seek support measures to boost shipments

The Federation of Indian Export Organisations said the export sector is facing major issues due to rising freight cost and its dependence on global shipping companies

India may try to find 'middle ground' for usage and export of J&J single-shot jab
India

India may try to find 'middle ground' for usage and export of J&J single-shot jab

A strategy needs to be put in place where India may take a share of the monthly production of J&J’s vaccine for domestic use, said a senior government official privy to developments on this front

Delhi Customs officials seize PPE kits, sanitisers and lakhs of masks; consignments were being smuggled to US, UAE and Europe
India

Delhi Customs officials seize PPE kits, sanitisers and lakhs of masks; consignments were being smuggled to US, UAE and Europe

Large quantities of sanitiser, PPE kits, masks and its raw materials being sent abroad illegally have been seized by customs officials at the cargo terminal in New Delhi, officials said

Coronavirus Outbreak: Garment exporters body expresses inability to pay workers' pay for April, May; seeks govt help
Business

Coronavirus Outbreak: Garment exporters body expresses inability to pay workers' pay for April, May; seeks govt help

The garment exporters somehow managed to pay full wages in March, but cannot afford to pay the wages for the month of April.

Coronavirus: Govt asks major ports to defer rentals, waive charges, penalty in view of export-import cargo drop
Business

Coronavirus: Govt asks major ports to defer rentals, waive charges, penalty in view of export-import cargo drop

Noting a drop in export-import (EXIM) cargo due to supply chain disruptions on account of the COVID-19 pandemic, the government has asked India's all 12 major ports to defer the lease rentals and licence fees-related charges for April, May and June

SEZ industry seeks relief package to boost exports, jobs; attracting investments to be a challenge in absence of special policy
Business

SEZ industry seeks relief package to boost exports, jobs; attracting investments to be a challenge in absence of special policy

In a letter to the prime minister, Export Promotion Council for SEZs and EOUs vice chairman Bhuvnesh Seth said the pandemic has severely impacted the sector with more than 50 percent loss of export orders.

Fitch cuts India growth forecast to 5.1% for FY'21; coronavirus outbreak to hit investment, exports
Business

Fitch cuts India growth forecast to 5.1% for FY'21; coronavirus outbreak to hit investment, exports

In its Global Economic Outlook 2020, Fitch said the number of people affected by coronavirus will keep rising in the coming weeks but that the outbreak will remain contained. However, there are downside risks to this scenario.

Coronavirus outbreak: India bans export of all kind of respiratory masks; toll due to virus tops 200 in China
India

Coronavirus outbreak: India bans export of all kind of respiratory masks; toll due to virus tops 200 in China

India on Friday banned exports of all kinds of personal protection equipment, including clothing and masks used to protect people from airborne particles as there could be a spurt in demand for such products due to outbreak of deadly coronavirus

Dharmendra Pradhan expresses concern over closure, merger of Odisha’s DGFT office, says it will have 'drastic impact on production and export'
India

Dharmendra Pradhan expresses concern over closure, merger of Odisha’s DGFT office, says it will have 'drastic impact on production and export'

Union minister Dharmendra Pradhan on Wednesday expressed concerns over the closure and merger of Odisha's Directorate General of Foreign Trade (DGFT) with the east zone office in Kolkata, asserting that it will have a 'drastic impact on production and export'

Exports to hit $330 bn in 2018-19; nine sectors identified to achieve 16% growth this financial year: Suresh Prabhu
Business

Exports to hit $330 bn in 2018-19; nine sectors identified to achieve 16% growth this financial year: Suresh Prabhu

He said the country's merchandise exports have seen high growth in the past six years through sector-specific interventions, focused export promotion initiatives, and quick resolution of issues.

IDBI Bank receives nod to handle import, exports transactions with Iran; move to promote two-way trade
Business

IDBI Bank receives nod to handle import, exports transactions with Iran; move to promote two-way trade

The IDBI Bank has received government nod to handle import and export transactions with Iran, a move which would help in promoting two-way trade amid US sanctions on the Persian Gulf nation

India hopes to sign free trade pact with European Union in 'foreseeable future'; exports likely to reach peak level this year
Business

India hopes to sign free trade pact with European Union in 'foreseeable future'; exports likely to reach peak level this year

In 2013-14, the country's merchandise exports touched $314.4 billion level. After that, exports came under immense pressure again due to global slowdown.

Exporters may get incentives based on R&D, specific clusters under new foreign trade policy
Business

Exporters may get incentives based on R&D, specific clusters under new foreign trade policy

Exporters are likely to get incentives based on parameters like research and development, product-specific clusters and production pattern under a five-year foreign trade policy (FTP) to be released later this year