The Centre imposed a windfall tax on domestic crude oil producing nations, imposed export duties on petrol, diesel, and aviation turbine fuel (ATF), and raised import duties on gold on Friday in an effort to relieve pressure on the rupee, reduce the current account deficit (CAD), and increase domestic supply of petroleum products.Domestic producers sell […]
Trade is important for maintaining a competitive global economy because it stimulates invention and promotes marketplaces to become more specialised. The ability to trade also allows standard of living that may be of higher quality and less expensive than their domestic counterpart. In some cases, there may be no domestic alternative, in which case trade […]
Every country relies on trade to meet demand and introduce newer innovations because no country is self-sufficient in every way. Trade also becomes a significant source of revenue for countries due to taxes and entry barriers. To facilitate trade routes, two or more countries or groups of countries enter into Free Trade Agreements (FTAs), which […]
CAPE TOWN: In order to enhance its capabilities as aglobal integrator of logistics in South Africa, A. P. Moller –Maersk now takes the next step to partner with GrindrodLimited to provide logistics solutions.Through this proposed joint venture, the logisticsactivities of Grindrod Intermodal business and the oceanactivities of Ocean Africa Container Lines (OACL) willcomplement Maersk’s current […]
Overall Exports April-October rise by 39.83%, Imports leap by 63.64 % NEW DELHI: India’s overall exports (Merchandise andServices combined) in October 2021 are estimated to be USD56.51Billion, exhibiting a positive growth of 35.16 per centover the same period last year and a positive growth of29.13per cent over October 2019. Overall imports in October2021 are estimated […]
MUMBAI: Global Logistics, led by Mr. Asif Mujawar, Mr. Jiss Mathew and Mr. Naveen Prakash has grown lead andbounds from a team of 20 people to more than 300 people with offices in 16 locations across India since its 2006 inception. Over the years, Global Logistics has grown by focusing on customer centricity to constantly […]
The CBIC issued Instruction No. 20/2021-Customs dated September 10, 2021 w.r.t. easing availability of containers for exporters. The CBIC has taken various measures over last year related to the subject cited above including the Special drive for disposal of unclaimed/uncleared/ seized/ confiscated goods vide Instruction No. 17/2020- Customs dated August 10, 2020 which has enabled disposal of […]
The International Monetary Fund (IMF) said India’s decision to ban vaccine exports was affecting several developing countries as it unveiled a proposal on how a $50 billion investment plan could vaccinate people around the world against COVID-19 by the middle of next year. The IMF research piece, authored by IMF Chief Economist Gita Gopinath and […]
Due to a slowdown in demand as a result of Covid-19-induced mobility restrictions in various parts of the country, India’s crude imports have plateaued in April 2021. According to Petroleum Planning and Analysis Cell (PPAC) data, India imported 18.26 million tonnes (mt) of crude oil paying about $8.5 billion in April 2021, almost the same […]
The FTP is likely to include key elements from a national logistics policy that has been in the works for months. Over the next five years, this policy aims to reduce logistics costs from 13% to 8% of GDP, significantly improving India’s trade competitiveness. Even though certain key export schemes, such as those relating to […]
