GAGA B2B - CONNECTING IMPORTERS AND EXPORTERS

[ad_1] New Delhi: The government on Friday informed the Rajya Sabha that it has disbursed Rs 15,756.96 crore till December 25 this fiscal under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme. It has benefited more than 1.11 lakh exporters so far this fiscal, Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Rajya Sabha.The scheme was implemented on January 1, 2021. It refunds embedded taxes and duties that are not otherwise rebated under any other mechanism. The scheme helps ensure that Indian exports remain competitive in global markets by neutralising such taxes in a WTO-compliant manner.In FY22, the remission disbursed was Rs 14,798.42 crore, and in FY25, it rose to Rs 18,734.56 crore.Live Events Labour-intensive sectors such as textiles and apparel, marine products, agricultural products, chemicals, and engineering goods are among the key beneficiaries, and account for a substantial share of RoDTEP support and co...

[ad_1] New Delhi: India has a 'very good' and 'powerful' trade agreement with the United States, under which New Delhi has been able to protect all its sensitive sectors, Commerce and Industry Minister Piyush Goyal said on Friday.Speaking at a media event, Goyal said the trade deal would benefit both countries and that the process of building in preferential benefits available to India under the agreement was currently underway. "We have been able to protect all our sensitive sectors," Goyal said, adding that products of India's interest in agriculture had been safeguarded.Also Read: ‘Narendra Modi psychologically finished, govt gave away India’s energy security’: Rahul Gandhi on US trade deal"For example, no GM products can come in - no rice, wheat, corn, maize or soy meal. So all the products, and many, many more which we are sensitive about - no dairy, no poultry - they've all been kept out. It's a very powerful agreement. It's g...

[ad_1] The US has launched a trade investigation into 60 economies, including India, China, the EU, UK and Japan, to determine if their policies fail to prevent goods produced with forced labour. The office of the United States Trade Representative (USTR) on Thursday evening said it has requested consultations with the governments concerned and will hold public hearings on April 28 as part of the investigations under Section 301(b) of the Trade Act of 1974. “The investigations will determine whether acts, policies, and practices of each of these economies related to the failure to impose and effectively enforce a ban on the importation of goods produced with forced labour are unreasonable or discriminatory and burden or restrict US commerce,” it said.This comes a day after Washington announced a fresh probe into excess industrial capacity in 16 major trading partners including India under Section 301, which is designed to address unfair foreign practices affecting US commerce an...

[ad_1] A proposed uniform 15 per cent tariff by US President Donald Trump could offer relief to several Asia-Pacific economies that have been dealing with significantly higher, country-specific duties, according to Moody's Analytics.In a note released Tuesday, the firm said economies such as China and parts of Southeast Asia stand to gain the most from a standardised tariff regime. In contrast, the impact on countries like Japan, South Korea and Taiwan would be limited, as their existing base tariff rates are already close to 15 per cent.Also Read: India’s refund rollback lands exporters with a bigger bill"There is a lot of uncertainty, but we do know a few things. A uniform 15 per cent tariff would benefit some Asia-Pacific economies that have faced much steeper country-specific levies," the report said.The development follows a recent ruling by the US Supreme Court, which struck down the Trump administration’s country-specific tariff structure. In response, Trump...

[ad_1] Indian textile maker Gokaldas Exports , a supplier to Walmart, sees pressure on its core earnings margins easing in fiscal 2027 as lower U.S. tariffs under India's trade deal begin to provide relief, its top executive told Reuters on Tuesday. The company, which derives about ‌75% of ⁠its standalone revenue ⁠from the U.S. and counts Walmart, Gap, and JCPenney among its clients, expects quarterly core profit margins to improve to the early double digits from 9.7% in the third quarter of fiscal 2026.However, Gokaldas did not specify an exact timeline, saying the benefits would materialise sometime after the second quarter of fiscal 2027. The ⁠company's margins ‌took a hit since the tariffs were imposed, as it offered discounts and absorbed part of the additional costs ⁠tied to the higher U.S. tariffs to preserve client relationships.India's $38 billion textile export sector has been struggling with elevated U.S. tariffs that were significantly steeper than those ...

[ad_1] India and the Gulf Cooperation Council (GCC) signed the Joint Statement for a free trade agreement (FTA) on Monday, marking a major step towards deeper collaboration in key strategic areas. The signing took place in the presence of the distinguished delegations and representatives of both the parties.Minister of Commerce and Industry Piyush Goyal signed the key document with Jasem Mohammad Al Budaiwi, Secretary General of the GCC. The Gulf Cooperation Council (GCC) includes six member countries, namely Saudi Arabia, United Arab Emirates (UAE), Qatar, Kuwait, Oman, and Bahrain.Also read: India sets sail to add more trade muscle as it signs FTA terms with Gulf Cooperation CouncilGoyal underscored that the relationship which is deeply rooted in shared history and cultural linkages, would get further impetus from a broad-based and mutually beneficial FTA. He also underlined that amidst global uncertainties, it is most opportune that discussions are starting on negotiating a r...

[ad_1] New Delhi: India and Israel on Tuesday began the first round of negotiations for a proposed Free Trade Agreement (FTA) in the national capital, with discussions scheduled from February 23 to 26, 2026.The talks follow the signing of the Terms of Reference (ToR) in November 2025, which laid down a formal framework to strengthen bilateral trade and economic cooperation.According to the Ministry of Commerce and Industry, technical teams from both sides are holding discussions on trade in goods and services, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, customs procedures, trade facilitation and intellectual property rights.During the opening session, Commerce Secretary Rajesh Agrawal said the negotiations had commenced at an opportune time, coinciding with Prime Minister Narendra Modi’s visit to Israel from February 25–26. He highlighted opportunities in sectors such as innovation, science and technology, artificial intelligence, cybersecu...

[ad_1] India and the United States will resume negotiations on their proposed interim trade pact once there is greater clarity on tariff changes announced by Washington, Commerce and Industry Minister Piyush Goyal said on Tuesday, days after the two sides deferred a scheduled meeting of trade negotiators amid a reset of US duties.The three-day meeting, which was to begin in Washington on Monday, was postponed after the US administration recalibrated its tariff regime following a Supreme Court ruling that struck down the sweeping reciprocal duty structure introduced under President Donald Trump.Also read: Trump working to change US tariff rate to 15%, official says 'no change of heart' on President's planOfficials said the talks would be rescheduled at a mutually convenient date after both countries assess the implications of the latest developments. The Indian delegation was to be led by chief negotiator Darpan Jain.New Delhi is also expected to seek legal opinion on...

[ad_1] New Delhi: India and the six-nation Gulf Cooperation Council (GCC) Tuesday signed the Joint Statement for the India–GCC free trade agreement (FTA), formally launching negotiations for a comprehensive and mutually beneficial agreement.GCC is India’s largest trading partner bloc with bilateral trade reaching $178.56 billion in FY25, accounting for 15.42% of India’s global trade.Saudi Arabia, the UAE, Qatar, Kuwait, Oman and Bahrain are members of the GCC.The statement was signed between commerce and industry minister Piyush Goyal and GCC Secretary General Jasem Mohamed Albudaiw. The two sides had signed the Terms of Reference (ToR) on February 5.“This marks a major step toward deeper collaboration in key strategic areas, including trade in goods, customs procedures, services, digital trade, cutting-edge technologies, and enhanced investment flows between India and the six GCC member nations,” Goyal said in a post on X.Live EventsThe GCC region is also a significant source o...

[ad_1] New Delhi, The World Trade Organisation's dispute settlement body has set up a panel in a case filed by China against India over its measures in the automotive and renewable energy sectors, an official said on Tuesday.The panel was set up as both sides failed to resolve the issue through a bilateral consultation process under the aegis of the WTO.In October last year, Beijing alleged that certain conditions in India's Production Linked Incentive (PLI) schemes for advanced chemistry cell batteries, automobiles and the policy to promote the manufacturing of electric vehicles violate global trade rules by discriminating against Chinese goods."At the second request of China, the Dispute Settlement Body (of the WTO) agreed at its meeting to establish a panel to examine certain Indian measures in the automotive and renewable energy sectors," the Geneva-based official said.In a communication to the World Trade Organisation (WTO), China has stated that consultat...

[ad_1] New Delhi: The World Trade Organisation (WTO) Tuesday agreed to establish a dispute panel in a case filed by China against India over its measures in the automotive and renewable energy sectors.In October last year, Beijing alleged that certain conditions in India's Production Linked Incentive schemes for advanced chemistry cell batteries, automobiles, and the policy to promote the manufacturing of electric vehicles violated global trade rules by discriminating against Chinese goods.On Tuesday, Beijing alleged that India's incentive schemes unfairly discriminate against foreign businesses and restrict trade, thereby violating WTO rules while New Delhi insisted that it participated in consultations with China in good faith and provided detailed explanations to show that its measures comply with WTO obligations.India had blocked the first request for a panel by China at a Dispute Settlement Body (DSB) meeting on January 27. The two sides engaged in consultations but...

[ad_1] New Delhi: The government on Tuesday clarified that the reduced rates and value caps under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme are not applicable to the export of agricultural and processed food products.The clarification came a day after the government halved the rate of duty benefits under the scheme with immediate effect, prompting exporters to seek a review of the decision.Also read: India halves remission benefits to exportersThe commerce and industry ministry moved a note to the expenditure finance committee (EFC) for a higher allocation of ₹21,000 crore in 2026-27 for the scheme against ₹10,000 crore provided in the budget, said people familiar with the development. "Comments from all line ministries have also been sent to the department. We are seeking a date for the EFC meeting," said one of the persons, who did not wish to be identified, adding that the date had yet to be communicated. Under the scheme, a rebate will ...

[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...