Export: GK, Current Affairs, Questions, Trivia and News

Ministry of Textiles organises Kala Kumbh exhibition

The Ministry of Textiles is organising a Handicraft thematic Exhibition named ‘Kala Kumbh’, for promoting Geographical Indication (GI) crafts, through the Office of Development Commissioner (Handicrafts). Recently the Kala Kumbh exhibition was inaugurated at Bengaluru and Mumbai. It is also proposed to be held at other major Indian cities including Kolkata and Chennai next month. ..

CBIC initiates collection of district-wise data on origin of export goods

The Central Board of Indirect Taxes and Customs (CBIC) has recently started to capture district-wise data on origin of export goods. This proposed export information will provide a comprehensive statistical input about the importance of each district, to policymakers. Hence the policies could be aligned with better knowledge of districts and thereby enhancing the local ..

India appeals against WTO panel’s ruling on export promotion schemes

On 18 Nov, India appealed against a World Trade Organization (WTO) dispute settlement panel’s ruling that had recommended withdrawal of its key export subsidy schemes, including the one for special economic zones in the next 90-180 days. Recently, WTO had ruled that exports subsidy programmes Merchandise Exports from India Scheme (MEIS), Export Oriented Units Scheme ..

Ministry of Defence approves issuance of two OGELs for export of certain parts and components

Defence Minister Rajnath Singh has approved issuance of two Open General Export Licences (OGELs) for export of certain parts and components and intra-company transfer of technology to select countries. This decision is expected to give a boost to defence exports and enhance Ease of doing Business (EDB). The transfer of technology to the countries is ..

Ministry of Commerce and Industry launches common digital platform for issuance of electronic Certificates of Origin

In New Delhi, the Union Commerce Minister Piyush Goyal has launched the common digital platform for the issuance of electronic Certificates of Origin (CoO). This platform will be a single access point for all exporters, for all FTAs/PTAs and for all agencies concerned. The Certificate of Origin (CoO) will be issued electronically if agreed to ..

Anti-Dumping Duty Imposed on certain Electrical Insulators from China

The Ministry of Finance has approved imposing of anti-dumping duty on import of electrical insulators (glass or ceramics/ porcelain) from China. What are electrical insulators? Electrical insulators are typically used in bushings, disconnectors, circuit breakers, transformers, power transmission and distribution lines, including railways. Anti-dumping Duty on Electrical Insulators from China The anti-dumping duty will be ..

Devaluation of Currency

The Currency devaluation is the deliberate reduction in the value of a country’s currency against another currency. It is used by monetary authorities when they need to improve the country’s trade balance by increasing exports if and when the trade deficit becomes a problem for the economy. The monetary authority then sets a lower exchange ..

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 ..