Page-3 of Commercial policy Current Affairs, GK & News

Draft agri-export policy : Key Features

A draft Agri Export Policy has been released by the Commerce Ministry. The National Agriculture Export Policy is being formulated in line with the vision to double the farmer’s income and increase the share of agricultural exports from $30 billion to $60 billion by 2022. The features of the policy include Identification of commodities which ..


Inverted Duty Structure

Inverted duty structure is a situation where import duty on finished goods is low compared to the import duty on raw materials that are used in the production of such finished goods.  For example, suppose the tariff (import tax) on the import of tyres is 10% and the tariff on the imports of natural rubber which ..


China launches WTO dispute resolution case against US, EU

China has launched a dispute resolution case against US and EU at the World Trade Organisation regarding the surrogate country approach followed by the US and EU to calculate anti-dumping measures against exports from China. When China joined the WTO in 2001, it accepted to allow WTO members to treat it as a non-market economy to calculate anti-dumping ..


Gitanjali Gems’ SEZ project cancelled

The Board of Approval (BoA) headed by Commerce Secretary has cancelled the Gitanjali Gems’ special economic zone (SEZ) project in Maharashtra. In a similar move, BoA has also cancelled the approval of Karanja Infrastructure’s Free Trade and Warehousing Zones (FTWZ) in Raigad. Gitanjali Gems’ and jewellery SEZ was notified on June 9, 2008. The approval ..


M-SIPS: Special incentive package for ESDM sector

ESSDM-Electronic System Design and Manufacturing The Union Cabinet approved the proposal to grant a special incentive package to encourage large-scale manufacturing in the ESDM sector. It will promote the manufacturing of indigenously designed and manufactured chips building a more cyber secure network in the country. The scheme is named the Modified Special Incentive Package Scheme ..