Economy News ( English version)

The Indian government has increased the customs duty on crude and refined sunflower oil to 20% and 32.5%, respectively, effective from Saturday. The duty changes apply to crude palm, soyabean, and sunflower seed oil.

The government has extended benefits to exporters using courier services, supporting smaller sellers on online platforms. Amendments by the CBIC to various tax neutralisation schemes will boost e-commerce exports. The new rules, effective September 12, aim to enhance flexibility and efficiency in supply chains, aligning with the Foreign Trade Policy 2023. […]

The Modi-led government sanctioned ₹3 lakh crore for infrastructure projects within its first 100 days to enhance connectivity and economic growth. Notable projects include a major port in Maharashtra, extensive road construction under PMGSY-IV, high-speed road corridors, new railway lines for better travel experience, and airport upgrades in Varanasi, Bagdo […]

Commerce Minister Piyush Goyal launched two digital initiatives to assist exporters. The Jansunwai Portal provides necessary information and direct communication with officials, while the ERP portal of ECGC offers online services like claims and credit support. These measures aim to streamline export processes and enhance MSME exports.

India has increased the basic import tax on crude and refined edible oils by 20 percentage points to support local oilseed farmers. This change will raise the total import duty on these oils, potentially increasing prices and reducing demand for imports of palm oil, soyoil, and sunflower oil.