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Highest monthly merchandise exports, in the current FY so far, recorded in February 2024. India’s merchandise exports in February 2024 stands at USD 41.40 Billion; an increase of 11.86% over USD 37.01 Billion in February 2023

India’s overall exports (Merchandise and Services combined) in February 2024* is estimated to be USD 73.55 Billion, exhibiting a positive growth of 14.20 per cent over February 2023. Overall imports in February 2024* is estimated to be USD 75.50 Billion, exhibiting a positive growth of 10.13 per cent over February 2023. Table 1: Trade during February 2024*     February ...

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Index Numbers of Wholesale Price in India for the Month of February, 2024 (Base Year: 2011-12)

The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 0.20% (Provisional) for the month of February, 2024 (over February, 2023). Positive rate of inflation in February, 2024 is primarily due to increase in prices of food articles, crude petroleum & natural gas, electricity, machinery & equipment and motor vehicles, trailers & semi-trailers etc. The ...

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Government of India notifies extension of Remission of Duties and Taxes on Exported Products support to Advance Authorisation Holders, Export Oriented Units and Special Economic Zones Units

Union Minister of Commerce & Industry, Consumer Affairs, Food and Public Distribution, and Textiles, Shri Piyush Goyal announced the extension of Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme support to additional export sectors in New Delhi today. The Government of India has announced extension of the RoDTEP Scheme support to additional export sectors i.e. Advance Authorisation (AA) ...

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Financial assistance under ‘Tea Development & Promotion Scheme’ increases by 82% from Rs. 290.81 crores to Rs.528.97 crore for 2024-25 and 2025-26

The financial assistance for the Tea sector under the ‘Tea Development & Promotion Scheme’ has been increased by 82% from Rs. 290.81 crores to Rs.528.97 crore for the next 2 financial years (2024-25 and 2025-26). A range of incentives are planned to be provided to small tea growers by mobilizing them into SHGs and FPOs. Setting up of 800 SHGs ...

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Cabinet approves Uttar Poorva Transformative Industrialization Scheme, 2024

The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the proposal of the Ministry of Commerce and Industry, Department for Promotion of Industry and Internal Trade for Uttar Poorva Transformative Industrialization Scheme, 2024 (UNNATI – 2024) for a period of 10 years from the date of notification along with 8 years for committed liabilities at a total cost of Rs.10,037 ...

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DPIIT notifies Quality Control Orders for ‘Potable water bottles’ and ‘Flame-Producing Lighter’

Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry has successfully notified two new Quality Control Orders (QCOs) on July 5, 2023. These QCOs on ‘Potable Water Bottles’ and ‘Flame-Producing Lighters’ will come into effect six months from the date of notification. These QCOs aim to strengthen the quality ecosystem in India and enhance public ...

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‘Intense momentum marks the opening day of Startup20’s third meeting in Goa Over 250 International, National delegates participate on Day One

The Startup20 Engagement Group of the G20 kicked off its third meeting, the Goa Sankalpana, with an atmosphere of unwavering energy and determination today in Goa. The day commenced with the presentation of the eagerly anticipated Policy Communiqué, followed by a series of engaging sessions and addresses, driving the conversation on startup innovation and collaboration. The morning session commenced with ...

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Spices Board establishes eight crop specific Spices Parks across the country

Spices Board has established eight crop specific Spices Parks across the country, the Minister of State for Commerce and Industry, Smt. Anupriya Patel said in reply to a parliamentary question today. The details of spices parks are as below: Name of the Spices Park State Spices covered Chhindwara Madhya Pradesh Garlic and Chilli Guna Madhya Pradesh Coriander Guntur Andhra Pradesh ...

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Seafood products export from India during the last three years has increases from US$ 6679 million in FY 2019-20 to an all-time high record figure of US$ 7759.58 million in FY 2021-22

Seafood products export from India during the last three years has increased from US$ 6679 million in FY 2019-20 to an all-time high record figure of US$ 7759.58 million in FY 2021-22, the Minister of State for Commerce and Industry, Smt. Anupriya Patel said in reply to a parliamentary question today. The seafood exports in last 3 years is tabulated as ...

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Centre takes proactive steps to promote the GI tagged products in the global market

The Government has taken several proactive steps to promote the GI tagged products in the global market, the Minister of State for Commerce and Industry, Shri Som Parkash said in reply to a parliamentary question today. The Directorate General of foreign Trade (DGFT) is the agency of the Ministry of Commerce and Industry of the Government of India, responsible for ...

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