India becomes Vice-Chair (Regional Head) of Asia Pacific Region of World Customs Organisation (WCO)

India has become the Vice-Chair (Regional Head) of the Asia Pacific Region of World Customs Organisation (WCO) for a period of two years, from July 2018 to June 2020. According to a Finance Ministry release, the position will enable India ..

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 ..

U.S. takes China to WTO on dumping row

The US-China trade pettifoggeries might now be an eternal issue at the WTO as US announced that it would be “challenging China’s imposition of antidumping and countervailing duties on more than $3 billion in exports of American-produced automobiles”. The U.S. ..

Month: Current Affairs - July, 2012

EXIM POLICY 1997-2000

The objectives and salient features of EXIM policy 1997-20001. To accelerate the country’ s transition to a globally oriented vibrant economy with a view to derive maximum benefits from expanding global market opportunities2. To stimulate sustained economic growth by providing ..

Annual Supplement to Foreign Trade Policy (2005-2006)

Minister for Commerce & Industry, Government of India Mr. Kamal Nath had announced Annual Supplement 2005, to the Foreign Trade Policy 2004-09 on the 8th April 2005.Main Points:1. Setting up an Inter State Trade Council to engage the State Governments ..