The Trade Promotion Council of India (TPCI) on Friday urged the government for a flat 5 per cent Goods and Services Tax (GST) on all food processed items to spur the growth of the sector. The council also pushed for input tax credit on food sales; tax holiday for five years for companies investing in infrastructure, including digital infrastructure; special incentives to food processing through interest subvention, and lower taxes; and competitive import tariffs over five years, with lowest or nil slab on inputs or raw materials. TPCI Founder Chairman Mohit Singla said non-tariff barriers in the food sector are impacting the industry and trade.
Dec 2020 Indian exports growth show signs of revival ANI | Updated: Jan 16, 2021 00:39 IST
New Delhi [India], January 16 (ANI): The exports in December 2020 were USD 27.15 Billion, as compared to USD 27.11 Billion in December 2019, exhibiting a positive growth of 0.14 per cent, said the Ministry of Commerce and Industry.
In Rupee terms, exports were Rs 1,99,770.58 crore in December 2020, as compared to Rs 1,92,984.47 crore in December 2019, registering a positive growth of 3.52 per cent, according to an official release.
Commodities/commodity groups which have recorded positive growth during December 2020 vis-a-vis December 2019 are Other cereals (278.23 per cent), Oil meals (196.92 per cent), Iron ore (69.26 per cent), Cereal preparations and miscellaneous processed items (47.14 per cent), Jute mfg. including floor covering (21.93 per cent), Handicrafts excl. hand-made carpet (21.78 per cent), Carpet (21.17 per cent), Ceramic products and
Exporters hopeful of recovery after pandemic blows in 2020 PTI
New Delhi: After being severely hit by the COVID-19 pandemic this year, the country’s exports growth is expected to rebound in 2021 on the back of recovery in economic activities and demand worldwide.
However, the uncertain global trade situation due to rising protectionism, which adversely impacted exports in 2019, could have a bearing on the country’s outbound shipments in the coming months.
Exporters’ community is hopeful that outbound shipments would start recording healthy growth rates from April 2021, helped by growth in demand in developed as well as developing countries, and effective COVID-19 vaccines that may bring life back on track the world over.
Agri exports likely to surge over $25 bn-mark in 2021 smetimes.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smetimes.in Daily Mail and Mail on Sunday newspapers.
India s exports likely to pick up in New Year
Exporters community is hopeful that outbound shipments would start recording healthy growth rates from April 2021, helped by growth in demand in developed as well as developing countries
PTI | December 31, 2020 | Updated 13:10 IST
In October, the World Trade Organisation (WTO) forecasted a 9.2 per cent decline in the volume of world merchandise trade for 2020, followed by a 7.2 per cent rise in 2021
After being severely hit by the COVID-19 pandemic this year, the country s exports growth is expected to rebound in 2021 on the back of recovery in economic activities and demand worldwide. However, the uncertain global trade situation due to rising protectionism, which adversely impacted exports in 2019, could have a bearing on the country s outbound shipments in the coming months.