Exports

Switzerland-India partnership is a special one with economic engagement driven by innovation, science and technology, President Ram Nath Kovind said at a business roundtable on the two countries.

The new measures for boosting economy, announced by Finance Minister Nirmala Sitharaman on 14 Sept 2019, will provide much-needed stimulus to boost the Indian economy that is now facing the slowdown.

The Remission of Duties or Taxes on Export Products (RoDTEP) scheme, packed up Rs.50,000 crore, will more than adequately incentivize exporters than the existing schemes put together, said Federation of Indian Export Organizations (FIEO).

India is cautious in its approach to the Regional Comprehensive Economic Partnership (RCEP) which would leads to massive exports from China on lowered tariffs while disadvantaging Chinese protectionist policies.

The Indian Plant Extract market is expected to grow at a CAGR of around 17% during 2018-2023 based on demand from wide range of medicinal and aromatic uses, according to an industry report.

In a bid to revitalize economic growth, Finance Minister Nirmala Sitharaman has announced a set of measures to boost the export sector on 14 Sept 2019.

The US-China Trade war, Brexit and developments in Iran have further aggravated the problem of the world economy, noted Sharad Kumar Saraf, President of the Federation of Indian Export Organizations.

Steel Minister Dharmendra Pradhan has discussed with CEOs of steel industry issues and bottlenecks concerning the sector and possible solutions.

India needs to work on its strengths by exploring market access for agriculture and pharma products in different regions to balance its trade surplus with US and deficit with China, Commerce and Industry Minister Piyush Goyal has said.

Tariff and non-tariff measures will be used judiciously by India with an ultimate aim to enable industry to become more competitive, said Commerce and Industry Minister, Piyush Goyal.