India lowers import tariffs on electric vehicles to attract global car companies
March 19, 2024
In a major policy adjustment, the Indian government decided to cut import tariffs on multinational electric car companies as long as these companies pledged to build a local factory to produce electric vehicles in India. This strategy aims to attract global automakers such as Tesla and VinFast to turn India into a global manufacturing center for electric vehicles while promoting employment and reducing the country’s oil imports and...
India raises import duty on precious metals and jewellery accessories to 15%
29 February 2024
The Government of India has taken new steps in its ongoing economic reform and fiscal adjustment.Since January 22, 2024, the Central Tax and Customs Commission of India has made major adjustments to the import policy of precious metals and jewelry accessories, significantly increasing the import tariff rate, especially for gold and silver accessories and precious metal coins, with the new tax rate set at 15%, which includes 10%.
Operation process and key steps of export glass engraving machine
January 31, 2024
As a professional processing equipment, the export is not only the reflection of technology and product circulation, but also an important part of transnational trade cooperation. So, what challenges will be encountered when exporting this high-precision equipment from China to the international market such as India? and how to effectively and safely complete this process?
India's GDP growth has exceeded expectations, and economic challenges remain severe
18 December 2023
India’s GDP growth rate for the third quarter of 2023, which was recently released, was 7.6 percent higher than expected, making India one of the fastest-growing countries among the world’s major economies. The Bank of India has further raised its GDP growth forecast for the fiscal year 2023/2024 from 6.5 percent to 7 percent whileining an unchanged interest rate of 6.5 percent.
Indias Ministry of Commerce and Industry Innovation Initiative: Automated Exporter Identity Certificate
16 November 2023
The Ministry of Commerce and Industry of India has taken a major step in improving the facilitation of foreign trade. Recently, Co-Minister Shri Piyush Goyal announced an innovative initiative, namely, the automated issuance of exporter identity certificates under the Foreign Trade Policy (FTP) in 2023. This change means that exporters will no longer need to submit applications to the General Administration of Foreign Trade (DGFT), but through...
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