Thiruvananthapuram, July 25 (IANS) Vizhinjam International Seaport is set to achieve another landmark in its evolution with the commencement of full-fledged gateway export-import (EXIM) cargo operations from August 18, transforming the country’s newest deep-water port from an exclusive international transshipment hub into a gateway for India’s overseas trade.Chief Minister V.D. Satheesan will formally inaugurate the commencement of EXIM operations, marking yet another defining milestone in the j…
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New Delhi, July 14 (IANS) The India-UK Comprehensive Economic and Trade Agreement (CETA) will come into force on Wednesday, paving the way for cheaper British goods in India while granting Indian exporters near-total duty-free access to the UK market.Under the pact, tariffs on a wide range of British products — including Scotch whisky, gin, chocolates, biscuits and cosmetics — will begin declining from July 15. However, duty reductions for several items will be phased in over the coming years….
New Delhi, July 5 (IANS) The India-UK Comprehensive Economic and Trade Agreement (CETA), set to come into force on July 15, provides duty-free access for 99 per cent of India’s exports to the UK.According to the latest notification from Finance Ministry that set out the rules, a product will qualify as originating in India or the UK if it is wholly obtained in either country, produced entirely from originating materials, or manufactured using non-originating inputs while meeting the product-spec…
New Delhi, June 29 (IANS) The Department of Consumer Affairs has introduced an ‘Improvement Notice’ mechanism under the Legal Metrology Act, 2009, allowing businesses to rectify specified first-time procedural or regulatory non-compliances before penal proceedings are initiated, according to an official statement on Monday.The reform has been brought into effect through the Jan Vishwas (Amendment of Provisions) Act, 2026 to promote ease of doing business (EoDB), encouraging voluntary compliance …
New Delhi, June 23 (IANS) The Centre’s Department of Pharmaceuticals has invited comments from stakeholders on the proposals received for amendments to the Global Tender Enquiry (GTE) Exemption List of Medical Devices. Following a public notice, issued on February 11, seeking feedback on the existing GTE Exemption List, the Department received representations from various stakeholders requesting addition, deletion or modification of entries under the list.All stakeholders concerned, including …
New Delhi, May 22 (IANS) Commerce and Industry Minister Piyush Goyal on Friday co-chaired a meeting with Minister of Ports, Shipping and Waterway, Sarbananda Sonowal, to directly engage with India’s exporters, importers and port authorities to facilitate the smoother flow of trade amid the disruption in ship movement and uncertainties in global markets due to the Middle East conflict.“We are committed to ensuring coordinated, time-bound measures to address concerns and create opportunities to …
Washington, April 3 (IANS) US President Donald Trump signed a sweeping proclamation imposing steep tariffs on imports of steel, aluminium and copper, tightening trade controls in the name of national security.The order mandates that tariffs apply to the “full customs value” of imported metal products and their derivatives, closing what the administration described as loopholes in earlier measures.The move builds on earlier Section 232 actions, under which the US had already determined that r…
New Delhi, March 2 (IANS) The government on Monday said it will continue to engage closely with all stakeholders and relevant ministries and departments to ensure that India’s trade continues to move efficiently and that any emerging issues are addressed in a timely manner.The Centre reiterated its readiness to facilitate trade operations, including procedural flexibility in export-related authorisations in cases of genuine disruption; coordination with Customs authorities to ensure smooth clear…
Washington, Feb 28 (IANS) Top Senate Democrats have demanded that the Trump administration return more than $130 billion in tariffs declared illegal by the Supreme Court, escalating a political and legal confrontation over what they called money illegally taxed from American businesses and consumers.In a February 27 letter to Treasury Secretary Scott Bessent, the lawmakers said the administration must immediately begin issuing automatic refunds instead of forcing small businesses to go to court….
New Delhi, Feb 1 (IANS) Finance Minister Nirmala Sitharaman, presenting the Union Budget 2026-27 in the Parliament on Sunday, announced that the proposals for customs and central excise aim to further simplify the tariff structure, support domestic manufacturing, promote export competitiveness, and correct inversion in duty.The new Budget proposes to reduce the tariff rate on all dutiable goods imported for personal use from 20 per cent to 10 per cent to rationalise the customs duty structure.To…