GAGA B2B - CONNECTING IMPORTERS AND EXPORTERS

[ad_1] Pune | Mumbai: Textile and vehicle exporters are bracing for tighter margins and a squeeze on working capital after the government halved tax refunds under the Remission of Duties and Taxes on Exported Products (RoDTEP) programme.The government decision announced on Monday could impact export growth and hurt profitability, particularly for cotton textiles, yarn and two-wheelers, said companies.RoDTEP reimburses exporters for certain domestic taxes and levies embedded in goods, helping them stay competitive abroad.About 58% of India's $11.03 billion cotton textile exports-including raw cotton, cotton yarn and cotton fabric- are likely to be affected, according to industry data. "The reduction in RoDTEP rates has come as a surprise and shock to the trade," said Vijay Agarwal, chairman of industry body TEXPROCIL.Exporters said the timing is especially disruptive for shipments already at sea and for contracts signed with incentives factored into pricing. The rat...

[ad_1] New Delhi: India has begun an exercise to map gaps in its manufacturing base and identify import reliance.The Department for Promotion of Industry and Internal Trade (DPIIT) is drawing up a list of commonly procured goods across various ministries and departments in which local manufacturing is unavailable to estimate the scale of imports. "To estimate the public procurement of these goods, the DPIIT will collate the data from all ministries," said an official, adding that a consolidated five-year procurement plan for such items would be made.Also read: India won't be importing 80% of its energy in next decadeIndia's goods imports in April-January FY26 were almost $650 billion with China being the top source with $108.18 billion of inbound shipments coming from Beijing. "Various departments will also give their inputs to arrive at increased local content thresholds for individual departments and items," the official added.India is conducting im...

[ad_1] Kochi: The All India Spices Exporters Forum (AISEF) and the European Spice Association (ESA) have signed a memorandum of understanding to boost cooperation on food safety, sustainability standards and regulatory alignment in the India-EU spice trade.The agreement was signed at the International Spice Conference (ISC 2026) here on Monday by AISEF Chairman Emmanuel Nambusseril and ESA Chairman Benoit Winstel, according to a release here on Wednesday. Under a joint declaration, both organisations reaffirmed their commitment to safeguarding consumer health and promoting ethical, responsible practices across the supply chain, the release said. The declaration unequivocally condemns food adulteration and bans the use of sterilisation methods prohibited in the European Union--such as ethylene oxide--for products destined for EU markets, it said.It also cautions against misuse of permitted processes, including undeclared irradiation or non-compliant chemical treatments.Live Event...

[ad_1] New Delhi [India]: India occupies a relative middle ground following the latest tariff developments by the United States, but any uniform tariff hike under Section 122 could increase its tariff exposure and erode some of the advantages gained through earlier negotiations, according to a report by Union Bank of India.The report noted that countries which had previously negotiated bilateral trade agreements with the US may face some short-term disadvantages, while those without comprehensive agreements could be relatively better positioned in the current environment."Meanwhile the countries that negotiated bilateral trade deals with the U.S. appear slightly disadvantaged in the short term, whereas countries which have not yet concluded comprehensive agreements emerge as relatively better positioned," the report stated.India, according to the report, has so far maintained a relatively balanced position compared to its Asian peers."India occupies a relative mid...

[ad_1] Mumbai: Nepal's soybean oil exports to India jumped more than tenfold ​in 2025 to a record ​high, boosted by duty-free access that helped the Himalayan nation double total ​exports to its neighbour, industry officials told Reuters.The surge narrowed Nepal's trade deficit with India but pressured edible oil prices in border regions, making it harder for Indian refiners paying import duties to compete ‌with cheaper supplies.India ⁠imported a ⁠record 694,153 metric tons of soyoil from Nepal in 2025, up from 65,138 tons a year ago, ​according to data compiled by India's Ministry of Commerce and Industry.The world's largest importer of vegetable ​oils raised import duty on refined soyoil to 35.75% in September 2024 from 13.75% previously.The hike prompted Nepali refiners to boost imports of crude soyoil from Brazil and Argentina, ​process it locally, and ship the refined oil into India ⁠duty-free under ‌the South Asian Free Trade Agreement (SAFTA).Live EventsSo...

[ad_1] Mumbai: India has concluded nine free trade agreements (FTAs), covering 38 nations, enabling the country's shipments to get preferential access to nearly two-thirds of global markets, Commerce and Industry Minister Piyush Goyal said on Wednesday.Addressing the EY Entrepreneur Of The Year Awards ceremony here, Goyal said that these pacts will help Indian goods, services, agricultural and fisheries products, and labour-intensive sectors reach new markets, integrate into global value chains and enhance talent mobility. He said that every country wants to enter into a trade deal with India and added that "I have had an engagement with Chile, which wants to conclude the FTA this week. We are launching (FTA talks with) Canada, hopefully when the prime minister (Mark Carney) is here on Monday." He said that India should be able to finalise the Terms of Reference and launch FTA negotiations with Canada.Goyal underscored that India's youth and human capital are ...