India starts antidumping probe on chemical from Brazil, Indonesia, Thailand

Source: The Economic Times, Apr 16, 2018

NEW DELHI: India has initiated probe into alleged dumping of a chemical used in paint and leather industry from Brazil, Indonesia and Thailand following a complaint from a domestic player.

The commerce ministry’s investigation arm – Directorate General of Antidumping and Allied Duties (DGAD) – has stated that it has found sufficient evidence of dumping of ‘non-plasticised industrial grade nitrocellulose excluding nitrocellulose damped in Ethanol and waterwet’ from these three countries.

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$5.6 billion Indian exports may be hit as US weighs tighter policy

Source: LiveMint.com, Apr 16, 2018

New Delhi: Indian exports up to $5.6 billion could be hit as the US pressures India for greater market access by declaring a review of the generalized system of preferences (GSP) through which Indian exporters get preferential market access to the US.

The GSP programme allows duty-free entry of 3,500 products from India, which benefits exporters of textiles, engineering, gems and jewellery and chemical products. The total US imports under GSP in 2017 was $21.2 billion, of which India was the biggest beneficiary with $5.6 billion, followed by Thailand ($4.2 billion) and Brazil ($2.5 billion).

The Trump administration has been accusing India of unfair trade practices and has challenged most of its export subsidies at the World Trade Organization (WTO). It has also not granted India an exemption on unilateral hike in steel and aluminium tariffs, unlike to its other strategic allies. On Friday, the US treasury department added India to the currency practices watch list saying New Delhi increased its purchase of foreign exchange by $56 billion in 2017 which does not appear necessary given its already robust foreign exchange reserves.

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Passenger vehicle exports dip 1.51% in 2017-18

Source: The Hindu Business Line, Apr 15, 2018

New Delhi: India’s passenger vehicle exports declined for the first time in seven years in 2017-18 with a dip of 1.51 per cent as major exporters focus on domestic market, while lingering impact of GST refund also affected overseas shipments.

According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle (PV) exports in 2017-18 were at 7,47,287 units as against 7,58,727 units in the previous year. “This is the first decline in exports of passenger vehicles since 2010-11 when it declined 0.41 per cent,” SIAM Deputy Director General Sugato Sen said.

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Exports dip, imports grow 7.15 per cent in March

Source: The Hindu Business Line, Apr 13, 2018

New Delhi: India’s exports dipped by 0.66 per cent to $29.11 billion in March, even as they increased by 9.78 per cent for the full 2017-18 fiscal.

Exports aggregated at $302.84 billion in 2017-18 as compared to $275.85 billion in the previous fiscal.Imports in March grew by 7.15 per cent to $42.8 billion, leaving a trade deficit of $13.69 billion, according to data released by the Commerce Ministry today.

Oil imports during the month were valued at $11.11 billion, 13.92 per cent higher than the same month previous year.

During 2017-18, imports increased by 19.59 per cent to $459.67 billion.Trade deficit during the fiscal stood at $156.83 billion.

 

Maritime trade goes all electronic

Source: The Hindu Business Line, Apr 09, 2018

Mumbai: P Manoj The government has made the use of e-Invoices, e-Payments and e-Delivery orders mandatory across the maritime trade as it seeks to push digitisation of trade processes to improve the ease of doing business.

Stakeholders across major ports (owned by the Central government) and terminals therein, private ports, private terminals, container freight stations (CFS) and inland container depots (ICD) have been directed to use e-Invoices, e-Payments and e-Delivery orders, according to an order issued by the Shipping Ministry, with effect from April 2.

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India exports more than 1.5 lakh bales of cotton to China since it’s tariff war with US

download (4).jpgSource: The Economic Times, Apr 09, 2018

PUNE: Indian mills have exported more than 1.5 lakh bales of cotton to China during last 10 days since the trade war between China and the US broke out.

“We have contracted between 1.5 lakh bales to 2 lakh bales of exports to China during past 10 days,” said Atul Ganatra, president Cotton Association of India (CAI).

As soon as the trade restrictions between US and China come into force, Indian cotton trade expects China to shift to India for its cotton requirements.

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Commerce Ministry looking for alternatives to export subsidies

Source: The Hindu Business Line, Apr 08, 2018

New Delhi: With the US questioning India’s export subsidies at the World Trade Organisation (WTO), New Delhi has got cracking on identifying alternative ways to support exporters without facing challenges at the multilateral forum.

“An informal committee has been set up under the Director General of Foreign Trade (DGFT) to look into the existing export promotion schemes. The idea is to identify the non-compatible provisions and to look for alternatives assuming that India’s eight-year phase-out period argument is not accepted,” a government official told BusinessLine.

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