Seed body moots export policy, promotion council

The Federation of Seed Industry of India (FSII) has requested the central government for a national policy for exports to ensure a smooth process between central government, state governments, Genetic Engineering Appraisal Committee (GEAC) and ports. A special cell under the ministry of agriculture should be formed to deal with export promotion and facilitation such.

Read More

FIEO calls for more benefits for MSME exporters

In its Budget wishlist, exporters’ body FIEO has demanded introduction of “Double Tax Deduction Scheme for Internationalization of MSMEs” to allow MSMEs to deduct against their taxable income, twice the qualifying expenses incurred for approved overseas activities including market preparation, market exploration, market promotion and market presence. FIEO said that overseas marketing is a big challenge.

Read More

Despite recovery in exports to US, India’s textile exports decline 8%

Despite recovery in shipments to the US, the country’s textile and apparel exports fell by 8 per cent in the first eight months (April-November) of the current fiscal year, with contractions in those to the European Union (EU) and West Asia. On the other hand, textile and apparel imports in the period jumped 15 per.

Read More

Hirotec invests ₹100 crore in Coimbatore in last one year

Japan-head quartered Hirotec Group, which has facilities in Coimbatore and Pune in India, had invested ₹100 crore here in the last one year developing a stamping die manufacturing facility. The group, with presence in eight countries and 29 facilities, makes automotive assembly welding fixtures, hemming, stamping dies and sheet metal parts. In Coimbatore, the group.

Read More

Export of garments gets one-time sop

Garments and made-ups exported between March 7 and December 31, 2019 will get a special one-time additional ad-hoc incentive of up to 1% of FoB (free on board) value. The incentive will be implemented in the form of scrips, according to a Textiles Ministry notification. The Textiles Ministry had notified a scheme for Rebate of.

Read More

Venezuela oil exports accelerate, India awaits cargoes

Venezuela kicked off the new year with at least 730,000 b/d of crude exports, led by several India-bound cargoes, according to local and international shipping data obtained by Argus. In the first half of January, a half dozen tankers loaded at state-owned PdV’s Jose terminal, most recently the Maltese-flagged VLCC Lucky Trader carrying heavy sour Merey blend due.

Read More

GST fraud: 1,200 untraceable exporters made refund claims worth Rs 350 crore

Goods and Services Tax (GST) authorities have discovered fraudulent refund claims worth Rs 350 crore made by as many as 1,200 exporters. The Revenue Department, using data analytics, has stopped the refund claims since the exporters were untraceable. Sources said nefarious elements among the customs broker community may be connected with these frauds, involving fictitious.

Read More