New Delhi, June 30 (IANS) The Centre on Tuesday decided to extend the full Customs Duty exemption on the import of critical petrochemical products by another 15 days, allowing the relief to continue until July 15, 2026. The exemption, which was earlier scheduled to expire on 30 June 2026, will remain applicable to the same list of petrochemical products notified previously.The duty exemption was introduced as a temporary and targeted measure in response to the conflict in West Asia, which disrup…
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New Delhi, June 4 (IANS) India- Oman Comprehensive Economic Partnership Agreement (CEPA) carries strategic value beyond trade by offering mechanisms to mitigate risks tied to the Strait of Hormuz, a report has said.Oman’s unique geographic position, stretching from the Arabian Sea to areas adjacent to the Hormuz choke point, and its port and logistics infrastructure provide India with alternative maritime access points, the report from India Narrative said.”This also allows New Delhi to engage…
Bhubaneswar, May 6 (IANS) Odisha Chief Minister Mohan Charan Majhi on Wednesday called for a “two-coast strategy” to drive India’s next phase of industrial growth, asserting that the east coast will play a defining role in the country’s economic expansion. CM Majhi, who is on a three-day visit to Gujarat, made the remarks while addressing industry leaders during his visit to Mundra Port and other industrial facilities on Wednesday.“India’s growth cannot remain one-sided. The next pha…
Surat, May 1 (IANS) The Gujarat government has allocated Rs 125 crore for the development of tourism in the Ukai catchment area, along with a focus on boosting the rural economy and generating employment, State Tourism Minister Dr Jayram Gamit said on Friday. Addressing a seminar on “Rural, Tribal and Wedding Tourism” at the Vibrant Gujarat Regional Conference (VGRC) held at AURO University in Surat, Gamit said rural tourism could play a central role in economic development.“The vision of …
New Delhi, April 10 (IANS) The Government of India is continuing its proactive and coordinated response to the evolving situation in West Asia, with the Commerce and Shipping Ministries convening high‑level stakeholder consultations to address emerging logistics, packaging, and shipping‑related challenges impacting India’s trade and export ecosystem, according to an official statement issued on Friday. Two important meetings were held, one under the chairpersonship of the Commerce Secre…
New Delhi, April 7 (IANS) FMCG companies should adopt contingency‑led supply‑chain planning, portfolio consolidation and revenue growth management to counter risks to India’s consumer products and retail industry from the US–Iran war, a report said on Tuesday.The report from EY India also urged sharper resource allocation, localisation, and backward integration across value chains.Sectors most exposed to oil, petrochemicals and global shipping—edible oils, textiles, paints, packaged fo…
Jaipur, April 3 (IANS) Rajasthan Chief Minister Bhajan Lal Sharma on Friday said that ensuring waterway connectivity for the transportation and export of goods from industries within the state is among the top priorities of the government, and directed officials to prepare a comprehensive report to advance the proposed Jawai–Luni–Rann of Kutch National Waterway (NW-48).Chairing a meeting at the Chief Minister’s Office on National Waterway-48, Sharma instructed the Inland Waterways Authorit…
New Delhi, March 10 (IANS) Assocham on Tuesday cautioned that a prolonged regional conflict in West Asia, amid escalating tensions involving the United States, Israel and Iran, could disrupt global trade and affect India’s energy supplies and exports.The apex industry chamber said India’s economy is closely linked to West Asian supply chains while also relying heavily on the Gulf region as a key export destination.The Middle East remains a major supplier of crude oil, liquefied natural gas (…
New Delhi, Feb 24 (IANS) The negotiations for the proposed free trade agreement between India and the Gulf Cooperation Council (GCC) were formally launched here on Tuesday with the signing of a joint statement by Commerce and Industry Minister Piyush Goyal and GCC Secretary General Jasem Mohamed Al-Budaiwi.”Amidst global uncertainties, it is most opportune that discussions are starting on negotiating a robust trading arrangement which would harness mutual synergies and complementarities,” Goyal …
New Delhi, Feb 5 (IANS) India is set to roll out the first tranche of its Bilateral Trade Agreement (BTA) with the United States in matter of days which will see a reduction in tariffs on domestic exports to 18 per cent, Commerce and Industry Minister Piyush Goyal said on Thursday.The minister said that a joint India–US statement is likely to be released in the next four to five days. Once an executive order is issued following the statement, the reduced 18 per cent US tariff on Indian goods w…