Indian shrimp among most banned imports

Marine products, especially shrimps, are among the most restricted items of import from India, according to data released by the ministry of commerce and industry today. Four of India’s major export markets — Saudi Arabia, Kuwait, Canada and Australia — have restrictions on shrimp import from India, according to the ministry. Saudi Arabia and Kuwait […]

Suzuki starts exporting vehicles from its fully owned plant in India

Japan’s Suzuki Motor Corp said it has started exporting vehicles from its recently established 100% Indian unit Suzuki Motor Gujarat Pvt Ltd. The first model to be shipped was the new Swift, destined for the South African market, the company said. “This is the first time an SMG model is being exported,” the company said. […]

India’s garment industry suffocates under GST bottlenecks

Apparel Export Promotion Council of India has sounded alarm on the continued decline in apparel production in India and said India won’t be able to meet the garment export target of $20 bln this year. “If the capital blockage continues and the cost competitiveness of the industry is not restored, the slippage in exports will […]

Garment exporters seek better ‘zero rating’ under GST

Representatives of apparel exports met commerce minister Suresh Prabhu and sought certain changes in the tax reimbursement scheme under the current Goods and Services Tax regime. Apparel exporters are eligible for reimbursement of various state and central taxes under two schemes meant to promote exports: Rebate of State Levies (ROSL) and Drawback (DBK). However, they […]

Apparel exporters bemoan rising rupee, seek support

Indian apparel makers have sought government intervention to stabilize the rupee, which has been rising in recent months, in stark contrast to the situation in other countries that compete with India in exporting garments. “Other countries started taking recourse to depreciating their respective currencies during the last one-and-a-half years, whereas Indian Rupee got appreciated,” complained […]

SEZ exports eligible for rewards under MEIS and SEIS schemes

The government has extended the rewards under its merchandise and services export from India schemes to units located in special economic zones. Special economic zones are areas — usually located close to seaports or airports — where normal custom, labor and tax laws of the country do not apply. In many ways, companies in SEZs […]

Center imposes stock-holding limits on sugar

Faced with the prospect of lower-than-expected production of sugar in the ongoing season due to drought, the government has imposed stock curbs on dealers to prevent speculation and hoarding, the food and consumer affairs ministry said today. “With the objective of keeping the sugar prices at reasonable level and to ensure smooth supply of sugar […]

Industry welcomes move to include made-ups in apparel package

The industry has welcomed the move by the government led by Narendra Modi to extend support to the made-ups export industry and said it would help the sector break out of its current slump. The cabinet had yesterday included the made-ups sector in the Rs 6,000-cr apparel package unveiled in June this year. Made-ups include […]