New Delhi, May 14 (IANS) India’s inflation rate based on the wholesale price index (WPI) rose to 8.3 per cent during April, compared to the same month of the previous year, primarily due to an increase in prices of fuels and crude oil amid the Middle East conflict, according to a statement issued by the Ministry of Commerce and Industry on Thursday.The WPI inflation for April was higher than the corresponding figure of 3.88 per cent recorded for March this yearWPI food inflation remained constan…
Latest Ministry of Commerce and Industry News & Updates
New Delhi, May 14 (IANS) India — the world’s second-largest sugar producer — has prohibited exports till September 30, 2026 or until further orders in a move aimed at ensuring domestic availability and containing local prices amid concerns over lower production.The Directorate General of Foreign Trade (DGFT) — under the Ministry of Commerce and Industry — has issued a notification amending the export policy for sugar.According to the notification, the export status of raw sugar, white suga…
New Delhi, May 9 (IANS) India exported the first-ever consignment of honey under the One District One Product (ODOP) initiative from Assam’s Baksa district to the US, the Ministry of Commerce and Industry said on Saturday.The consignment, comprising 20 metric tonnes of honey, was flagged off with the support of the Agricultural and Processed Food Products Export Development Authority (APEDA) under the ministry.The shipment was exported by Assam-based APEDA-registered exporter Salt Range Foods …
New Delhi, May 8 (IANS) The Department for Promotion of Industry and Internal Trade (DPIIT) has extended conditional exemptions for the import of specified hermetic compressors used in air conditioning and refrigeration manufacturing till March 31, 2027, according to a notification issued by the Ministry of Commerce and Industry on Friday.The amendment, notified through the Air Conditioner and its related Parts, Hermetic Compressor and Temperature Sensing Controls (Quality Control) Amendment Ord…
New Delhi, May 2 (IANS) Union Commerce and Industry Minister Piyush Goyal on Saturday lauded the Indian Institute of Foreign Trade (IIFT) as a premier institution contributing to India’s global trade and policy landscape, as the institute marked its 63rd Foundation Day. In a message shared on a social media platform, the minister highlighted IIFT’s role in shaping the country’s international trade and management ecosystem through its contributions to policy, research, and capacity bu…
New Delhi, April 30 (IANS) India’s overall exports increased by over 20 per cent year-on-year for the first three weeks of April compared to the same period of the previous year, despite the supply chain disruptions and uncertainties in global markets caused by the Middle East conflict, the Ministry of Commerce and Industry announced on Thursday.The major products for which the exports have significantly increased during the period from April 1 to 21 are petroleum products and electronic goods, …
New Delhi, April 26 (IANS) The FTA with New Zealand is expected to give a big push to India’s leather industry, which expects to grow to $50 billion by 2030, driven by a strategic shift from mass production to high-value-added manufacturing, the Ministry of Commerce and Industry said on Sunday. On the eve of the signing of the India-New Zealand Free Trade Agreement (FTA), Union Minister for Commerce and Industry Piyush Goyal and his New Zealand counterpart Todd McClay participated in an Indust…
New Delhi, April 25 (IANS) The government on Saturday announced the operational guidelines for the Rs 10,000 crore Startup India Fund of Funds 2.0 (FoF 2.0), aiming to streamline capital deployment and improve funding access for startups across sectors and stages.The Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry has unveiled a comprehensive framework to operationalise the second edition of the Fund of Funds scheme, with a focus on imp…
New Delhi, April 17 (IANS) In pursuance of the government’s commitment to Ease of Doing Business and trade facilitation for exporters, the Ministry of Commerce and Industry has undertaken a series of targeted reforms to strengthen the functioning of Norms Committees under the Directorate General of Foreign Trade (DGFT) to improve turnaround time, enable early approvals, and enhance transparency and predictability under the Advance Authorisation Scheme, as per an official statement issued on Fr…
New Delhi, April 16 (IANS) The Central government has notified the setting up of an SEZ by Tata Semiconductor Manufacturing Private Limited exclusively for electronic hardware and software, including IT/ITES, at Gujarat’s Dholera, the Ministry of Commerce and Industry said on Thursday.Spread across 66.166 hectares and poised to provide employment to 21, 000 persons, the SEZ is designed to support electronic hardware, software, and IT-enabled services, and includes enabling infrastructure and a d…