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 …
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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…
New Delhi, Jan 17 (IANS) The Reserve Bank of India (RBI) has said that the recently issued Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 will come into force from October 1 — easing compliance for smaller traders and strengthening digital monitoring.”The regulations are primarily principle based and intended to promote ease of doing business, especially for small exporters and importers. They are also intended to empower Authorised Dealers to provide q…