GAGA B2B - CONNECTING IMPORTERS AND EXPORTERS

[ad_1] New Delhi: The talks on India-Oman Comprehensive Economic Partnership Agreement (CEPA) are likely to get “further impetus” during commerce and industry minister Piyush Goyal’s visit to Oman this week, the government said Sunday.Goyal will visit Oman from January 27 to 28 for the 11th Joint Commission Meeting with Qais bin Mohammed bin Moosa al-Yousef, minister of commerce, industry and investment promotion of Oman.“The talks on India-Oman CEPA, which are at an advanced stage, are likely to get further impetus during the visit. Both sides are negotiating and exploring a commercially significant, balanced, equitable, ambitious and mutually beneficial CEPA,” the commerce and industry ministry said in a statement.During the visit, the two leaders are expected to hold wide ranging discussions on trade and investment and the global economic situation, it said.“This visit underscores the importance that India attaches to its trade and investment ties with Oman, one of our import...

[ad_1] India has initiated a probe into the alleged dumping of PVC paste resin, used to make artificial leather and other technical textiles' products, from the European Union (EU) and Japan, according to a notification. The commerce ministry's investigation arm, Directorate General of Trade Remedies (DGTR), is probing the dumping as imports are allegedly hurting the margins of the domestic industry. Chemplast Sanmar Ltd has filed an application seeking the imposition of anti-dumping duty, stating that the cheap imports are causing material injury to the domestic industry. "On the basis of the duly substantiated written application submitted by the domestic industry and having reached satisfaction based on the prima facie evidence submitted by domestic industry about the dumping of subject goods...the Authority, hereby, initiates an anti-dumping investigation," the DGTR has said in a notification. If it is established that the dumping has caused material inju...

[ad_1] New Delhi: To simplify the certification process for exporters and enhance trade efficiency, the government Monday said it has upgraded its system of issuing electronically generated certificate of origin to help exporters. The document is important to claim duty concessions under free trade agreements as it proves where the goods originate.The upgraded platform offers features such as multi-user access, which enables exporters to authorise multiple users under a single Importer Exporter Code (IEC).“The Directorate General of Foreign Trade (DGFT) has launched the enhanced Certificate of Origin (eCoO) 2.0 system, a significant upgrade designed to simplify the certification process for exporters and enhance trade efficiency,” the commerce and industry ministry said in a statement.The electronic filing of non-preferential certificates of origin has become mandatory through this platform from January 2025.“This trade facilitation initiative has been streamlining the certifica...

[ad_1] Union Budget 2025: India had embraced an export led growth model since the 1990s. It served well during an era when the rich northern economies were increasingly benefiting from the comparative advantage associated with labour intensive goods from poorer south. Powered by the 1991 reforms, India became a major participant in this North-South trade flows, and consequently witnessing a surge in low-skill manufacturing exports such as apparel, textiles, leather, and footwear, to compliment a surge in IT services exports.Budget 2025: A Crucial Opportunity for India-US Trade TiesThe Union Budget FY26 will present a good opportunity for India to showcase its intent on expanding fair trade ties with US, with Trump’s inauguration scheduled few days before it. While India has been actively reducing tariffs on US imports, in many cases from 100% to 50%, in this budget some customary adjustments to tariffs particularly for imports of transport equipment, electrical machineries and e...

[ad_1] Madhya Pradesh Chief Minister Mohan Yadav said that the state has exported goods spanning multiple industries worth USD 92.8 million to Japan in 2023-24 on Tuesday, while inviting business leaders to explore investment opportunities in the state. Yadav was speaking during an interactive session on investment opportunities in Madhya Pradesh being held in the Indian Embassy here. He is on a four-day visit to Japan and will be visiting Tokyo, Osaka, and Kobe between January 28 and 31, 2025, as he aims to highlight Madhya Pradesh's potential to investors and extend an invitation for the upcoming Global Investor Summit in the state. He referred to the longstanding relations between Madhya Pradesh and Japan, citing the USD 92.8 million worth of exports from the state, and expressed hope to receive significant investments from the country. Madhya Pradesh is one of the largest states in the country, with a population of 8.5 crore, and the state's economy has grown 3-fol...

[ad_1] Apparel exporters' body AEPC on Tuesday suggested the government to introduce reforms in labour laws, improve schemes for skilling the workforce and make policy for fabric import flexible to boost exports. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said that the exports target of USD 40 billion for ready-made garments by 2030 is an ambitious aim, though the industry is making all possible efforts to achieve that. The government should "introduce reforms in Indian labour laws, improve schemes for skilling the workforce and make policy for fabric import flexible and industry friendly," he said. To discuss ways to increase exports, the council held a round-table discussion with the major apparel brands here. The council said that India's biggest strength is its design prowess and raw material base and it must be leveraged. "Among the major asks of brands is the need for building capacity and fast-tracking manufacturing. Also, the...