Commerce Ministry asks RBI, ED to probe if top ecommerce firms flouted rules
Commerce Ministry asks RBI, ED to probe if top ecommerce firms flouted rules

 The Commerce Ministry has requested the Enforcement Directorate and RBI to examine whether e-commerce majors Flipkart, Amazon and Snapdeal violated FDI rules by engaging in business-to-consumers (B2C) activity.

Govt assures incentives to boost exports: Exporters

The government has assured that it will soon announce incentives, including extension of interest subsidy scheme, to boost exports, which are in negative zone since December last year, exporters said Wednesday.


Exports of top 5 sectors dip 25% to $13.33 billion in August
Exports of top 5 sectors dip 25% to $13.33 billion in August

Exports of top five sectors - engineering, petroleum, gems and jewelery, textiles and pharmaceuticals - fell by about 25 percent to USD 13.33 billion in August due to global demand slowdown.

Declining exports: ComMin to hold exporters meet on Oct 7

Worried over continued decline in exports, the Commerce Ministry will hold a meeting of exporters on October 7 to discuss ways to contain the dip in the outbound shipments.

Govt keeping close watch on dumping: Sitharaman

The government is keeping a close watch on dumping in view of recent devaluation of Chinese currency, Commerce Minister Nirmala Sitharaman said Friday.

Exports of 10 key agricultural products in negative zone in July

Cereals, oil meals, oil seeds, fruits and vegetables, marine products, dairy and poultry products too recorded negative growth during the month, according to the Commerce Ministry.

RCEP pact: Commerce Ministry to hold consultations with industry on goods

After the consultation, the Ministry would prepare an initial offer on goods for Regional Comprehensive Economic Partnership (RCEP), an official said.

Fall in crude prices responsible for dip in exports: Govt

As merchandise shipments continue to fall since last December, a top official in Commerce Ministry today attributed the declines to sharp fall in fuel prices overseas, which led to a dip in petroleum product exports.

Govt working on various fronts to push up exports: Comm Secy

Commerce Secretary Rita Teaotia said the ministry is focusing on exports sectors with a huge potential such as pharmaceuticals, ready-made garments, leather, gems and jewellery, chemicals and agro-chemicals.

WTO trade pact ratification on govt's table: Govt

TFA seeks to simplify Customs procedures and rules, increase transparency and reduce transaction costs for traders.

Govt mulling interest rate sops to leather industry

The Commerce Ministry has circulated a draft note on providing benefits of interest subvention scheme to exporters and the Cabinet is expected to take a decision on the sops by the end of this month, an official said.

Commerce Ministry moves Cabinet note on interest subvention scheme

To give a fillip to exports, the Commerce Ministry has moved a Cabinet note on a proposal to provide cheaper credit access to exporters from various sectors under the interest subvention scheme.

Commerce Minister working on internal processes to ratify WTO's TFA

The government is working on internal processes to ratify WTO's trade facilitation agreement (TFA), which looks to ease Customs procedures to boost trade, a senior commerce ministry official on Friday said.

Commerce Min considering proposal for compulsory licence to anti-cancer drug

Commerce and Industry Ministry is considering a proposal of the health ministry for grant of compulsory licence (CL) to an anti-cancer drug - Dasatinib, Parliament was informed Friday.

Centre, states discuss FDI multibrand retail, e-commerce

Several issues pertaining to foreign direct investment (FDI) in multi-brand retail and emerging e-commerce business in the country were discussed during a meeting chaired by Commerce and Industry Minister Nirmala Sitharaman here.

Centre, states discuss ways to boost exports

The Commerce Ministry on Wednesday asked states to expedite infrastructure development process and formulate a trade policy in order to boost exports.

'FDI in e-commerce will make India a dumping ground'

Traders on Friday called upon the government not to allow foreign direct investment (FDI) in e-commerce as "the platform will be used to make the country a dumping ground".

Commerce Ministry seeks feedback to sort out FDI issues in e-commerce

According to sources, Kant first met officials of various public sector banks on issues over payment mechanism of e-commerce.

Commerce Ministry takes steps to boost pharma exports, sets up committee

Pharmaceutical sector has huge potential in terms of increasing exports, the Commerce Ministry is taking many measures to boost overseas shipments, a ministry official said.

DIPP plans 360-degree media campaign to hard sell India for FDI

The Commerce and Industry Ministry is planning to undertake a "360-degree" media campaign to promote 'Make in India' and attract overseas and domestic investment.