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Govt to decide on lifting export ban on wheat, onion

(14/02/2011)

The government is likely to take a decision in the next few days on the proposal to lift ban on exports of onion and wheat in view of their bumper production. The empowered group of ministers (EGoM) on food, headed by Finance Minister Paranab Mukherj...

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Posted Under: DGFT |

DGFT's new cotton export license policy for transparency

(23/01/2011)

The Director General of Foreign Trade (DGFT) has not included 'prior experience' as a pre-condition for people seeking cotton export permit to keep the licensing policy simple and transparent. "When we invited applications we asked who wanted to ex...

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Posted Under: DGFT |

FDI in multi-brand retail may open with 51 Percent cap

(22/01/2011)

Politically-sensitive multi-brand retail sector is likely to be opened for foreign investors with an FDI cap of 51 per cent, as efforts are being made by the industry ministry to evolve a consensus on the vexed issue. According to sources, the govern...

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Posted Under: DGFT |

Commerce, Textiles Min differ on cotton export quota

(19/01/2011)

The Textiles Ministry has found deficiency in the way allocation of cotton export quota has been given by the Commerce Ministry and suggested that the procedures may be changed. The government has restricted cotton exports to 5.5 million bales for th...

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Posted Under: DGFT |

Re-Credit Certificate for Re-export of defective/unfit goods and/or Re-assessment of Debited Duty and/or re-exports on account of any other reason

Public Notice No. 22/2009-2014 (RE 2010) (14/01/2011)

In the case of re-export of defective or unfit goods or re-assessment of debited duty, Customs issues a Re-credit Certificate containing particulars of scrip used, date of import of re-exported goods and amount debited while importing such goods / re-assessment details. Customs shall permit use of this Re-credit Amount to the extent of 98...

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FIPB Recommended Proposals Entailing FDI Inflow of 23700 Crore for approval by Finance Minister During 2010

(02/01/2011)

Foreign Investment Promotion Board (FIPB), which is mandated to consider and recommend proposals relating to Foreign Direct Investment (FDI) under the government route in terms of extant FDI policy held 14 meetings during the calendar year....

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Posted Under: DGFT |

Gove bans Import of Second Hand Computers

There is a ban on import of second hand computers and computer peripherals now. As per Ministry of Commerce’s Handbook of Procedures Vol. 1 (2009-14), import of second hand computers including personal computers/ laptops and refurbished/reconditioned...

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Posted Under: DGFT |

Exporters welcome incentives worth Rs 1,052 crore announced by the govt in annual review of the Foreign Trade Policy

(26/08/2010)

In order to give immediate relief,a bonus incentive (over and above the present benefits) of two per cent has been announced by Commerce and Industry Minister Anand Sharma to sectors like handicrafts, handloom, silk carpets, leather and leather manufacturers, sports goods, toys and select bicycle parts. The extra sops are two per cent of ...

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Posted Under: DGFT |

Lok Sabha passes bill to promote and regulate foreign trade

The Lok Sabha on Thursday passed a bill aimed at promoting foreign trade and enabling the government to take swift action in trade disputes. The bill, which was passed by the Rajya Sabha on Aug 9, makes changes in the Foreign Trade (Development and Regulation) Act, 1992. Minister of Commerce and Industry Anand Sharma said the government w...

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Posted Under: DGFT |

Narendra Modi seeks lifting of ban on cotton export

(24/04/2010)

Gujarat Chief Minister Narendra Modi today appealed to the Central government to lift the ban on cotton exports imposed recently and also remove export duty on cotton with immediate effect....

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Posted Under: DGFT |