Commerce Ministry News

The estimated value of service exports during April-May has gone up to $65.24 billion as compared to $59.79 billion in the same period of the previous year.  

Trade diversion due to the protective measures imposed by the US has been a major cause of the surge in imports. 

As a result, the trade deficit rose to a five-month high of $22.1 billion. India has been consistently witnessing a trade deficit for many years now.

Commerce ministry draft guidelines on halal meat products. Ministry drafts for the export of meat and meat products from India. Now the meat can be exported as halal certified if it follows the proper guidelines.

India's export of fresh fruits has also witnessed considerable growth. Major exporting destinations of fresh fruits include Bangladesh, the Netherlands, the UAE, the UK, Nepal, Iran, Russia, Saudi Arabia, Oman and Qatar.

Under the plan, there is a proposal to set up a dedicated trade promotion body and a trade remedies review committee. It added that the revamping is aimed at further building on its strategic direction and aspirations for the next decade. For this, a project was undertaken to design a future ready department of commerce.

In December 2021, the exports grew 28 per cent to USD 720.51 million. It said the five-top export destinations include the US, China, Japan, Vietnam and Thailand. Other major items include Frozen Fish (7 per cent) and Frozen Squid (5 per cent).

He said, "The United Arab Emirates will become a gateway for Indian trade to the Middle East and Africa." "We may set up a huge India mart to tap that market," he added. Goyal made the following comments on Saturday.

Goyal also hoped that "large corporates" will be taking interest in the shipping industry. There is a worldwide shortage of semiconductors. The government is very much focused on bringing the semiconductor industry to India.

Amidst the ongoing LAC standoff and the diplomatic tensions with China, the Prime Minister’s Office (PMO) has sought suggestions from the Commerce Ministry to curb imports from the hostile neighbouring country.

Speaking on this occasion, Piyush Goyal said that he is extremely humbled by stepping into the shoes of a visionary like Suresh Prabhu and will try to do his best to take the work of the Ministry forward.

Toys are among a child's first possessions. But do you know that the chemicals used in the manufacturing of these toys can adversely affect your child’s health? According to a new study, these contaminated toys can prove dangerous to children with serious health implications.

The move is aimed at guarding domestic manufacturers of 'Methylene Chloride' from cheap imports from the European Union (EU) and the US.

According to the Commerce Ministry data, the WPI inflation in June 2017 was at 0.90 per cent.

The initiative will begin with 6 districts, including Sindhudurg and Ratnagiri in Maharashtra, Varanasi in Uttar Pradesh, Muzaffarpur in Bihar, Vishakapatnam in Andhra Pradesh and Solan in Himachal Pradesh.

China`s Commerce Ministry expressed concern on Thursday that the United States has been spreading negative information about the trade relationship between the world`s two largest economies.

Prabhu also said he would soon visit Washington DC to meet the US Commerce Secretary and the trade representatives in the US to hold discussions on trade and commerce related issues.

Inflation based on the wholesale price index (WPI) was 1.88 percent in July 2017 and 1.09 percent in August 2016.

GES, organised by the ministry, provides a platform to explore market opportunities across the world and meet global counterparts.

The survey covers more than 3,000 enterprises across India and makes an effort to assess ease of doing business from their perspective as opposed to the perspective of policy makers.