Govt needs to look at problems faced by exporters trading with Iran: FIEO

The Government needs to look into the problems being faced by exporters shipping consignments to Iran in view of the increasing threat of US economic sanctions against the Persian Gulf nation, FIEO said recently. Federation of Indian Export Organisations (FIEO) President Mr. Ganesh Gupta said that the rupee account currently used for payment settlement has
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KOLKATA: The 25 basis points increase in the interest rates by the Reserve Bank of India is a big negative for exporters, as they would become less competitive in a tough global market that is already facing the threat of tariff war, said EEPC India Chairman Ravi Sehgal. “While the RBI Governor Dr Urjit Patel
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NEW DELHI: Basmati Rice exporters have sought the intervention of the Centre to take steps to resume export to Saudi Arabia. Saudi Arabia, the second largest importer of basmati halted Rice imports from India since June for non-compliance with its new stringent maximum level of pesticide residues in food items. Indian authorities are set to
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The Indonesian government has postponed to February 2019 the implementation of a regulation that would have required all Indonesian coal exporters to be covered by a domestic insurance provider from August 1, 2018, industry sources said Friday. According to the sources, the government decided at a meeting Thursday to give the trade ministry six months
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TIRUPUR: Shri Raja M Shanmugham, President said the Department of Revenue, Ministry of Finance has increased the Basic Customs Duty from 10% to 20% for import of 23 Knitted garments items and also one Knitted fabric item which came into effect from 16th July 2018. Shri Raja M Shanmugham said: “Off late, the textile products
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European companies that export from China are changing the global flow of their goods to avoid higher American tariffs, a business group said Tuesday, as the impact of the U.S.-Chinese trade war spreads. Tariff hikes are “hitting immediately the bottom line” of companies that rely on the free flow of trade across countries, said Mats
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 Collapse of Indian rupee to a lifetime low of 69.10 against the US dollar will not give an extra edge to domestic exporters, but provide a level playing field in global market, FIEO said recently. Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said the development will not provide any additional support to
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The Government is set to strengthen Export-Import Bank of India and Export Credit Guarantee Corporation (ECGC) as part of an exercise to make dollar-credit available to Indian exporters to help reduce cost of funds and provide a natural hedge for overseas earnings. The plan to strengthen the two entities came as the Government realised that
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Tirupur Exporters’ Association (TEA) has stressed the need to enter into Free Trade Agreements (FTA) with European Union, USA, the UK and Russia, to face the Chinese threat in export markets. In a memorandum submitted to Union Textile minister, Smriti Irani in New Delhi, the association said though garment exports from China had been declining
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Chennai Customs has asked exporters to resolve any errors so that their legitimate pending refunds can be processed soon. The major error is mainly the mismatch in numbers provided in the invoice and GST returns, explained a senior department official, reports said.

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