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Commerce Ministry Seeks Cut In Gold Import Duty, In Budget To Push Jewellery Exports

The commerce ministry has sought a reduction in the import duty on gold in the forthcoming budget with a view to push exports and manufacturing of the gems and jewellery sector, sources said. In July this year, the centre hiked gold ...

Natural Gas Exporters: Market To Be Tight Until '2025'

The leader of the coalition of gas-exporting countries said on Tuesday the group expects demand for the fuel to far outstrip supply until 2025 amid a global energy crisis sparked by the war in Ukraine. Secretary General of the Gas Exporting ...

Govt Raises Duty On Platinum, To 15.4% To Curb Import

The government has raised the customs duty on precious metal platinum to 15.4 per cent from 10.75 per cent in a bid to curb its import. According to a notification of the Finance Ministry, the revised import duty on platinum of ...

India Achieved 10 Per Cent Ethanol Blending Target Ahead of Schedule: PM

India, the world's third biggest oil importing and consuming nation, achieved the target to blend 10 per cent sugarcane-extracted ethanol in petrol ahead of schedule, Prime Minister Narendra Modi said. Addressing the nation from the ramparts of the Red Fort on ...

India's Trade Deficit Trebles YoY In July To $31.02 Billion

The country's trade deficit increased to $31.02 billion during the last month given the increase in coal and crude oil imports showed the official data released Tuesday. Last year in July, trade deficit was at $10.63 billion, so nearly trebling ...

Finmin Pegs Dollar Value, At Rs 79.90 For Computing Import Duty

The Finance Ministry Thursday pegged the exchange rate for dollar at Rs 79.90 for calculation of import duty with effect from July 8, as against Rs 78.95 a fortnight ago. The sharp revision is due to depreciation of rupee against dollar ...

Power Tariff To Rise 60-70p Per Unit ,For Blending Imported Coal: Minister

Coal import for 10 per cent blending for the electricity plants to avoid blackouts will result in a rise in power tariff by 60-70 paise per unit, Union minister RK Singh said on Thursday. This has to be done to avoid ...

Hike In Import Duty On Gold, To Fuel Smuggling; Review Decision: Industry Bodies

Jewellery and industry experts on Friday said the increase in import duty on gold to 15 per cent will fuel smuggling and urged the government to review the tariff rate on the yellow metal. Effective from June 30, the Union Finance ...

Indian Importers And Exporters Should Remember This New Rule Regarding IEC

The union government of India will start the procedure to deactivate Import Export Code (IEC) from October 6, 2021 for the firms, which have not updated their information to the government. As the government mentions, the IEC is a key business ...

Importing Gold In India: Rules, Entities, Taxes

India is a globally significant market for gold business, but interestingly India does not produce a considerable amount of gold that can meet huge domestic demands. India stands at the second position in terms of gold import globally, after China. The ...

Import Duty on Masur Dal Cut To Zero; Agri Infra Development Cess Halved To 10%

The Centre on Monday reduced the import duty on masur dal to zero and also halved the Agriculture Infrastructure Development Cess on the lentil to 10 per cent, in a bid to boost domestic supply and check rising prices. A notification ...

Japan's exports and imports surge amid world pandemic recovery

Japan's exports in June jumped 48.6% from the year before, marking the fourth straight month of growth, the Finance Ministry said Wednesday. Imports for the month grew 32.7%, totaling 6.83 trillion yen (USD 62 billion). Exports for the month totaled 7.2 ...

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