Page 5 - India Imports
India's imports from China fall by 27.63% during Apr-Aug this fiscal: Goyal
Value of imports from China stood at $4.98 billion in August and $5.58 in July, according to the data provided by Commerce and Industry Minister Piyush Goyal
 "India's imports from China fall by 27.63% during Apr-Aug this fiscal: Goyal")
Covid-19 crisis: Port cargo picking up, but still lower than last year's
The fall in cargo at 12 major ports - administered by the central government - was 10 per cent in August compared to the same month in 2019
 "Covid-19 crisis: Port cargo picking up, but still lower than last year's")
August exports shrink 12.6%, trade deficit hits 4-month high of $6.77 bn
Import contraction restricted to 26 per cent in August due to surge in gold purchases from abroad
 "August exports shrink 12.6%, trade deficit hits 4-month high of $6.77 bn")
Customs to raise vigil on electronic items from FTA countries from 21 Sept
Finance ministry sources said misuse of the FTA route has been on the rise for the last few years to escape customs duty on imports
Customs to roll out pan-India faceless assessment for all imports by Oct 31
The CBIC has constituted 11 National Assessment Centres (NACs), consisting of the Principal Commissioners/ Commissioners of Customs.
 "Customs to roll out pan-India faceless assessment for all imports by Oct 31")
Exports, imports are showing positive trends, says Piyush Goyal
He added that the trade deficit is reducing drastically and India's share in the global trade is improving due to resilient supply chains
 "Exports, imports are showing positive trends, says Piyush Goyal")
GSFC restarts methanol plant after six years to aid import substitution
The 525-metric-tonnes-per-day unit was commissioned in 2013 and operated for 11 months before shutting down in April 2014 due to non-viability
 "GSFC restarts methanol plant after six years to aid import substitution")
Onerous obligations on importers under new Customs rules
It is meant to strengthen the provisions for checking misuse of exemptions for imports under various trade agreements
July exports shrink 10.2%, trade deficit hits three-month high of $4.83 bn
Imports contraction falls steeply to 28% as trade deficit rises to three-month high of $ 4.83 billion
 "July exports shrink 10.2%, trade deficit hits three-month high of $4.83 bn")
India can be great place for a country wanting import alternative: Gadkari
The Minister said China's 70 per cent of exports pertained to ten sectors and asked industry players to research on various sectors
 "India can be great place for a country wanting import alternative: Gadkari")
India's balance of payments will be very strong, says Piyush Goyal
Says overseas companies must stop having an 'assembly workshop' approach
 "India's balance of payments will be very strong, says Piyush Goyal")
Imports from related party will be scrutinised by Customs: Expert
Rule 3(3)(a) of the Customs Valuation Rules, 2007 provides that where the buyer and the seller are related, the circumstances surrounding the sale will be examined
Invoking self-reliant India, govt bans import of 101 defence items
Modi endorsed the new import embargoes from his own Twitter account
 "Invoking self-reliant India, govt bans import of 101 defence items")
New defence measures a game changer for indigenous firms: India Inc
Chief executive officers (CEOs) of defence companies said if the plan is implemented well, this will help India become a net exporter
 "New defence measures a game changer for indigenous firms: India Inc")
DGTR recommends CVD on certain steel product imports from Indonesia
The Commerce Ministry has recommended imposition of provisional countervailing duty (CVD) on certain steel products from Indonesia to guard domestic manufacturers from subsidised imports.
 "DGTR recommends CVD on certain steel product imports from Indonesia")
India has trade deficit with 9 of top 10 commerce partners, shows data
While India has maintained a comfortable surplus of more than $17 billion with the United States, its largest export market, deficits have become deeper for all other nations
 "India has trade deficit with 9 of top 10 commerce partners, shows data")
JNPT expects imports to get back to normal from this month-end
The port has been continuously growing month-on-month, registering a throughput of 3,44,316 TEUs in container handling in July, which is 19 per cent higher as compared to June 2020
 "JNPT expects imports to get back to normal from this month-end")
To promote local production, govt announces curbs on import of colour TVs
Putting an item under a restricted category of imports means the importer of that commodity will have to seek licence from the commerce ministry's DGFT for imports
 "To promote local production, govt announces curbs on import of colour TVs")
Govt issues scheme guidelines to boost drug manufacturing, medical devices
The objective is to make India self reliant in production of 53 critical Active Pharmaceutical Ingredients, and in production of medical devices, for which India is crucially dependent on imports
 "Govt issues scheme guidelines to boost drug manufacturing, medical devices")
India to post current account surplus this fiscal, first since FY04: Report
After many quarters, the economy logged in a marginal current account surplus in June quarter at 0.1 per cent or $600 million as against a deficit of $4.6 billion or 0.7 per cent of GDP in FY19
 "India to post current account surplus this fiscal, first since FY04: Report")
