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…
Latest Ministry of Commerce and Industry News & Updates
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…
New Delhi, April 6 (IANS) The Government e-Marketplace (GeM) has recorded a cumulative Gross Merchandise Value (GMV) of Rs 18.4 lakh crore, including Rs 5 lakh crore transacted in the financial year 2025–26, the Ministry of Commerce and Industry said on Monday.Moreover, Micro and Small Enterprises (MSEs) accounted for 68 per cent of total orders placed on the platform during the year and 47.1 per cent of the total GMV.More than 11 lakh MSEs are registered on GeM and received over 51 lakh order…
New Delhi, April 2 (IANS) The government has decided to provide full customs duty exemption on critical petrochemical products till June 30, 2026, amid the ongoing conflict in West Asia and the consequent disruptions in global supply chains, Finance Ministry said on Thursday.The measure, said the ministry in a statement, has been taken as a temporary and targeted relief in order to ensure continued availability of critical petrochemical inputs for domestic industry, reduce cost pressures on down…
New Delhi, March 31 (IANS) The National Council for Cement and Building Materials (NCB) has signed a memorandum of understanding with Delhi Technological University (DTU) to strengthen research–academia collaboration and skill development in the domestic cement and construction sector, an official statement said on Tuesday.The collaboration will promote joint research and innovation in cement and concrete technologies, provide training opportunities for students, professionals and stakeholders…
New Delhi, March 23 (IANS) In view of the evolving geopolitical situation due to the Iran war and its implications for maritime trade, the Centre has decided to restore the rates and value caps under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for all eligible export products with effect from March 23, according to a statement issued by the Ministry of Commerce and Industry on Monday. This step is intended to provide timely support to Indian exporters facing elevated f…