Page 6 - Commerce Ministry

India sees significant improvement in UNESCAP score on trade facilitation

India has seen a "significant improvement" in the UNESCAP's Global Survey on Digital & Sustainable Trade Facilitation with a 90.32 per cent score. After evaluation of 143 economies, the Survey 2021 has highlighted India's significant improvement in the scores on all five key indicators -- transparency, formalities, institutional arrangement and cooperation, paperless trade and cross-border paperless trade. India has scored 90.32 per cent in the global survey on Digital and Sustainable Trade Facilitation. This is a remarkable jump from 78.49 per cent in 2019. Under the transparency indicator, the country scored 100 per cent in 2021, up from 93.33 per cent in 2019. The score for 'paperless trade' improved to 96.3 per cent in 2021, from 81.48 per cent in 2019. The score in the institutional arrangement and cooperation indicator improved to 88.89 per cent, from 66.67 per cent in 2019. In a statement, the Finance Ministry said that India has seen "significant improvement" in the score

Working on plan to boost agri exports from Ladakh: Commerce Ministry

A comprehensive plan of actions is being worked out to promote the export of agricultural produce from the Union Territory of Ladakh, the Commerce Ministry said on Thursday.

Over 17,200 new companies set up in India during April-June 2021

More than 17,200 new companies were set up in the country during April to June this year while a total of 13.7 lakh companies were active at the end of June, according to official data.

Think tank recommends India to establish new trade negotiating body

A think tank paper has recommended India to establish a new body of experienced trade negotiators with a designated trade representative within the ministry of commerce

Govt to provide Rs 1,624 cr over 5 yrs as subsidy to Indian shipping cos

The Union Cabinet approved a scheme to provide Rs 1,624 crore over five years as subsidy to Indian shipping companies in global tenders floated by ministries and CPSEs for import of government cargo

Commerce ministry extends time limit for filing claims under TMA scheme

The commerce ministry on Tuesday extended the time limit for filing claims under the Transport Marketing Assistance (TMA) scheme for specified agricultural products.

Diminished role for commerce ministry in export promotion may continue

With the Commerce Minister holding the additional charge of the Textiles Ministry, it is likely that more funds will be diverted to encourage exports of labour intensive textiles.

Integration of industrial land bank system by Dec: Commerce ministry

The India industrial land bank system has been integrated with industry-based GIS systems of 17 states so far and will achieve pan-India integration by December 2021, the commerce and industry ministry said on Friday. The system is a GIS-based portal - a one-stop repository of all industrial infrastructure-related information connectivity, infra, natural resources and terrain, plot-level information on vacant plots, line of activity, and contact details. Currently, the land bank system has about 4,000 industrial parks mapped across an area of 5.5 lakh hectare of land, serving as a decision support system for investors scouting for land remotely. "The system has been integrated with industry-based GIS systems of 17 states to have details on the portal updated on a real-time basis and will achieve pan-India integration by December 2021," it said. Its website, it said, has seen a 30 per cent increase in page views each month since April and received 55,000 page views in June. "Regar

India's exports rise to all-time high of $95 billion in June quarter

The merchandise exports grew 47 per cent YoY to $32.46 billion in June, driven by a robust demand of engineering goods, petroleum products, and gems and jewellery in the external markets.

Soft launch of phase-1 of National Single Window system for investors soon

There will be 17 ministries and departments and 14 states onboard in first phase, commerce and industry minister Pitush Goyal said at review meeting of the system

India exporting cereals to newer destinations, says commerce ministry

India has started exporting cereals like rice and wheat to new destinations, including Puerto Rico, Yemen and Poland, with a view to push agricultural shipments, the commerce ministry said

FTA hesitancy

Govt and industry must be open to free trade pacts

Application window for PLI scheme for white goods opens from today

The application window for the Production Linked Incentive (PLI) scheme for white goods - ACs and LEDs - will be open for three months from Tuesday, the Commerce Ministry said on Monday

Application window for PLI scheme for white goods opens from Tuesday

The application window for the PLI scheme for white goods - ACs and LEDs - will be open for three months from Tuesday, the commerce ministry said on Monday. Commerce and Industry Minister Piyush Goyal on Monday held interaction with the industry on the Production Linked Incentive (PLI) scheme on white goods. "The interaction was held to take the feedback on the scheme, the application window for which will be open for three months from tomorrow," it said in a statement. Addressing the captains of the industry, Goyal said the scheme has been introduced to produce national manufacturing champions and it will bring cost-competitiveness, quality, efficiency and technology. The minister said that through PLI, India will leverage its competitive and comparative advantage to stake its claim in global supply chains. Goyal said that the selection of the companies eligible under the scheme will be done in a transparent and time-bound manner. PLI scheme for white goods was notified on April

As many as 50,000 startups recognised by DPIIT: Commerce Ministry

As many as 50,000 startups have been recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) till date, an official statement said on Thursday.

Goyal calls for adding more participants on Govt e-Marketplace platform

Commerce and Industry Minister Piyush Goyal on Tuesday called upon GeM to expand its scope and include more participants for public procurement of products and services.

Core sectors' output soars by 56.1% in April due to low base effect

But it is down 15% sequentially due to second wave

Govt approves appointment of B V R Subrahmanyam as Commerce Secy from July

J&K Chief Secretary, B.V.R. Subrahmanyam, was on Thursday posted as OSD in the Union Commerce Ministry and will succeed Commerce Secretary Anup Wadhawan on his retirement next month-end.

Ambitious target of $400 bn exports can be achieved this year: Goyal

A sharp rise in exports in April is giving a hope that the ambitious target of $400 bn merchandise shipments can be achieved this year, says Commerce and Industry Minister Piyush Goyal

Exports rise 80% to $7 bn during first week of May: Commerce Ministry

Continuing a positive growth, India's exports grew by 80 per cent to USD 7.04 billion during the first week of this month, according to preliminary data of the commerce ministry.