Foreign trade

PM Narendra Modi will hold an official meet with the Head of Indian Missions abroad along with stakeholders of trade and commerce on August 6, in the pursuit to expand the country's export globally. The commerce minister, external affairs minister, state government officials, and members of Export Promotion will also be present. Reportedly, India's export has grown by 47.19% and imports by 59.38% in July.

To increase international trade of AYUSH (Ayurveda, Yoga, Unani, Siddha, and Homoeopathy) products, the Union government is standardising their quality. While four Indian standards have already been published on the Ayurvedic terminology glossary, the move will add other herbs including Ashwagandha and Giloya to the list. Moreover, the Bureau of Indian Standards (BIS) has proposed to the International Organization for Standardization for … read-more

Directorate General of Foreign Trade (DGFT) on October 15 moved Air Conditioners with refrigerants to the "prohibited" list. Accordingly, the import of such air conditioners into the country will be banned. Reportedly, the decision was taken to encourage domestic manufacturing and also decrease the import bills on non-essential goods. Earlier, the government had banned the import of tyres and TV sets with the same intent.