GJ Town India

  RoDTEP, RoSCTL like benefits to exports through Courier   Union Minister of Commerce and Industry, Piyush Goyal, chaired the third meeting of the reconstituted Board of Trade at Mumbai. Piyush Goyal reaffirmed the government’s commitment to drive economic growth through robust partnerships with state governments.   The Minister emphasized that initiatives of the government are instrumental in guiding India towards a more transparent, efficient, and sustainable trade environment, benefiting the country’s broader economic landscape. Goyal launched the Department of Commerce’s Jan Sunwai Portal, designed to streamline communication between stakeholders and authorities, providing a direct and transparent channel for addressing trade and industry-related issues.   This portal offers on-demand video conferencing services, in addition to fixed video conference links for regular, scheduled interactions. The portal’s accessibility extends across various offi...

Disbursed to more than 45K exporters, out of  Which around 98% may fall in the MSME category   Government has released Rs56,027 crore in order to clear pending export incentive dues to exporters, which is for various Schemes namely: Merchandise Exports from India Scheme (MEIS) - Rs33,010 crore, Service Exports from India Scheme (SEIS) - Rs10,002 crore, Rebate of State and Central Taxes and Levies (RoSCTL) - Rs5,286 crore, Rebate of State Levies (RoSL) - Rs330 crore, Remission of Duties and Taxes on Exported Products (RoDTEP) - Rs 2,568 crore and other legacy Schemes like Target Plus Scheme (TPS),   Focus Product Scheme (FPS) etc.   - Rs 4,831 crore.     This includes support for exports made under RoDTEP and RoSCTL Schemes during the 4th quarter of FY 2020-21. It is estimated that such benefits would be disbursed to more than 45,000 exporters, out of which around 98% may fall in the Micro, Small and Medium Enterprises (MSME) category.   Clearance...

                                Piyush Goyal holds meeting with the EPCs                                                         Discussed various issues concerning the international trade   Union Commerce and Industry Minister Piyush Goyal, and Senior Officers of the Department of Commerce and Directorate General of Foreign Trade (DGFT) held a meeting with the Export Promotion Councils to discuss various issues concerning the international trade.   Goyal complimented the Exporters for their encouraging performance, even during such trying times. He noted that India’s merchandise exports in April 2021 was USD 30.21 billion, an increase of 197.03% over USD 10.17 billion in April 2020 and an increase of 16.03% over USD 26.04 billion in April 2019.  ...

  India trade deficit is narrowing!   Union Minister of Commerce and Industry Shri Piyush Goyal met the Office-bearers of various Export Promotion Councils (EPCs), to discuss the issues concerning the country’s global trade, ground level situation, and problems being faced by the exporters.   Shri Goyal has been holding a series of discussions with the EPCs, particularly since the lockdown. The Commerce Secretary Dr Anup Wadhawan, DGFT Shri Amit Yadav and other senior officers of the Ministry were present in the meeting. In his opening remarks, the Minister said that the country’s exports as well as imports are showing positive trends. The exports are approaching the last year’s levels, after making a sharp dip in April this year due to pandemic. Regarding imports, the positive thing is that the Capital Goods imports have not declined, and the reduction in imports has been seen mainly in crude, gold and fertilizers.  He added that the trade deficit is reducing dr...