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    December 31, 2024
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    News
    All› Customs, DGFT & SEZ › Customs, DGFT & SEZ - 2024
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    December 31, 2024
    Pak PM Sharif unveils national economic plan to transform country in next 5 years
    Show AI Summary
    National economic transformation plan prioritises privatisation and investment facilitation to drive export led growth and institutional delivery.
    A national economic transformation plan establishes a coordinated programme to accelerate sustainable growth through enabling investment, privatisation and outsourcing, and export led expansion; it prioritises lowering industrial input costs and reducing reliance on external financing. An implementation architecture including a delivery unit at the prime minister's office will coordinate sectoral roadmaps, performance targets for GDP growth and job creation, and a pillar structure (exports; e infrastructure; environment and resource security; energy and infrastructure; equity, ethics and empowerment) to guide policy and monitoring.
    December 31, 2024
    Customs Brokers Licensing Examination, 2025 is scheduled to be held on 18.03.2025
    Show AI Summary
    Customs Brokers Licensing Examination: computer based bilingual MCQ test with written and oral qualifying criteria for licensing.
    Customs Brokers Licensing Examination 2025 will be a bilingual computer based MCQ test allowing answers in English or Hindi; the paper has 150 questions in a two and a half hour session, uses positive and negative marking, and requires sixty percent to qualify. Candidates who clear the written test must attend an oral examination under the Customs Brokers Licensing Regulations, which also requires sixty percent to pass. Official websites and a contact email are provided for queries.
    December 30, 2024
    UP eyes higher share in country's exports, to unveil 5-year policy soon: Industry minister Gupta
    Show AI Summary
    Export policy to boost state export share and economic growth through incentives, logistics upgrades and artisan upskilling.
    The State will introduce a five year export policy for 2025-30 to raise its share of national exports and promote economic growth and job creation. The policy focuses on enhancing exporter capabilities through incentive schemes (Marketing Development Assistance, Gateway Port, Air Freight Rationalisation), improving logistics and air connectivity via a new airport to reduce freight time and cost, and scaling the One District One Product programme with training and toolkits for artisans to support district specific enterprise development.
    December 30, 2024
    Tea industry witnesses production fall, rise in exports in 2024
    Show AI Summary
    MRL compliance and quality standards underpin export growth as reduced production and climate impacts reshape tea markets.
    Production contracted due to erratic weather and early closures, raising costs, while exports rose through merchant risk taking and market diversification. Agronomic recommendations include soil health improvement, rainwater harvesting and shade enhancement to mitigate climate impacts. Regulatory actions-heightened testing, stricter food safety compliance, attention to MRL issues and auctioning adjustments-aim to protect export access and quality, supporting prices amid low inventories and uneven regional profitability.
    December 30, 2024
    India-Australia Economic Cooperation and Trade Agreement marks two years of success
    Show AI Summary
    Economic Cooperation and Trade Agreement expands bilateral market access and advances deeper integration through CECA negotiations.
    The India-Australia Economic Cooperation and Trade Agreement (ECTA) has expanded bilateral merchandise trade and diversified export and import lines through implementation measures such as exchange of preferential import data and high utilization of preferential treatment; sectors like textiles, chemicals and agriculture have benefited while CECA negotiations progress to deepen integration and pursue an enhanced bilateral trade target by 2030.
    December 26, 2024
    2024 Year End Review for Department of Commerce
    Show AI Summary
    Trade agreements driving market access and digital trade facilitation to boost exports and MSME integration.
    The Department's 2024 review emphasizes expansion and implementation of Free Trade Agreements and negotiation rounds (bilateral, regional and plurilateral) to secure market access, services commitments, investment and rules of origin reform; active multilateral engagement at the WTO defending developing country positions on agriculture, SPS/TBT and fisheries subsidies; operational use of trade remedies and export quality upgrades to protect domestic industry; and digitally enabled trade facilitation measures (Trade Connect, JanSunwai, e BRC, auto IEC) alongside targeted supply side initiatives such as Bharat Mart, E Commerce Export Hubs and enhanced credit/insurance support for MSME exporters.
    December 20, 2024
    Commerce and Industry Minister holds video conference with Mr Maros Sefcovic, European Commissioner for Trade and Economic Security; Interinstitutional Relations and Transparency
    Show AI Summary
    Free trade agreement negotiations seek political guidance to resolve non-tariff barriers and pursue a balanced India EU FTA.
    Ministers held an introductory conference to advance a Free Trade Agreement, urging strategic political guidance to conclude negotiations, address long pending non tariff barriers as a confidence building measure, and pursue a balanced, equitable, mutually beneficial agreement; they agreed further structured engagement, including a bilateral visit and coordination via High Level Dialogue and a Trade and Technology Council.
    December 20, 2024
    2024 Year End Review for Department for Promotion of Industry and Internal Trade
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    Product Linked Incentive scheme expanding domestic manufacturing capacity and supply chains while streamlining approvals to boost investment.
    Product Linked Incentive schemes across 14 sectors provide targeted fiscal support to enhance domestic manufacturing, deepen supply chains in the MSME sector, and increase domestic value addition, complemented by Greenfield industrial corridor projects and infrastructure readiness measures. Integrated logistics and infrastructure planning is advanced through the PM GatiShakti National Master Plan and the National Logistics Policy, supported by a National Single Window System using PAN as a Single Business ID, while regulatory reforms-including FDI liberalisation and Jan Vishwas decriminalisation-streamline approvals and reduce compliance burdens to facilitate investment and ease of doing business.
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    Corruption investigation: arrests and recoveries following alleged bribery and middleman-facilitated collusion at a SEZ office.
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    Footwear and leather industry symbol of India’s craftmanship and innovation: Shri Piyush Goyal
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    The Council for Leather Exports' National Export Excellence Awards promote export competitiveness by encouraging higher quality standards, sustainable production (including proper effluent treatment and zero pollution targets), brand creation, and support for MSMEs and women entrepreneurs; the awards are structured across export slabs and product segments to recognise overall exports and to catalyse innovation, ethical practices, digital transformation, and scale-driven global market access.
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    CBIC Chairman Shri Sanjay Kumar Agarwal, in presence of Members of the Board, launches new initiatives to enhance taxpayer services
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    Taxpayer services modernization expands service standards and digital engagement to improve transparency and voluntary compliance.
    CBIC launched four taxpayer-focused initiatives: a revised Citizen's Charter with updated timelines and service standards covering key services and grievance mechanisms; an Ease of Doing Business tab to gather taxpayer suggestions for procedural and policy improvements; a revamped Citizen's Corner as a one-stop portal to support self-compliance; and a digital CBIC Archives hosting interactive historical and educational resources. These measures are overseen by the Directorate General of Taxpayer Services to strengthen transparency, accountability, and digital taxpayer engagement.
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    DPIIT conducts over 1,300 programs to foster deeper understanding of Intellectual Property Rights
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    Intellectual property awareness expanded through national programs and institutional schemes to strengthen enforcement and IP protection nationwide.
    DPIIT has implemented a nationwide intellectual property awareness and enforcement framework combining capacity-building programs across academia, law enforcement and industry, public outreach campaigns and institutional reforms. Key measures include NIPAM outreach, training for judiciary, customs and police, IPR enforcement guidance, modernisation and digitisation of IP offices with AI tools and virtual hearings, SIPP and TISCs for startup facilitation, SPRIHA university IPR Chairs, fee rebates for eligible entities, and administrative safeguards for application confidentiality and cloud-based data security.
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    New Frontiers in Economic Research (Keynote Address delivered by Michael Debabrata Patra, Deputy Governor, Reserve Bank of India - December 14, 2024 - in the Maldives Monetary Authority (MMA) Research Conference at Male, Maldives)
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    Digitalisation and monetary policy: evolving tech shocks reshape inflation, labour markets and transmission requiring new data and models.
    The address highlights four research frontiers: digitalisation as a long-term technology shock altering productivity, labour markets, inflation and monetary transmission-necessitating big data and machine learning methods; climate change creating non-linear supply, demand and financial-stability risks that call for interdisciplinary macro-financial models; reassessment of the unobservable natural rate of interest in light of post-pandemic and global shifts; and changing digital consumption patterns that transform household saving, borrowing and policy transmission, motivating agent-based and behavioural modelling.
    December 16, 2024
    The cumulative overall exports during April-November 2024 is estimated at USD 536.25 Billion, as compared to USD 498.33 Billion in April-November 2023, with an estimated growth of 7.61%.
    Show AI Summary
    Exports growth and trade balance: stronger merchandise and services exports alongside a widening trade deficit due to higher imports.
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    India participates in the 2nd meeting of the Supply Chain Council (SCC) as Vice-Chair, under India-Pacific Economic Framework (IPEF)
    Show AI Summary
    Supply chain resilience focus: collaborative APTs and standards to strengthen pharma and critical sector supply chains across the Indo Pacific.
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    India - Norway Business Roundtable with Shri Piyush Goyal
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    Free Trade Agreement momentum to drive bilateral investment and cooperation in logistics, energy, connectivity and technology.
    The India-Norway roundtable seeks to operationalize the Free Trade Agreement with EFTA by focusing on attracting EFTA investment and identifying collaboration across logistics, supply chains, maritime, energy, circular economy, food and agriculture, infrastructure, and technology, while reviewing reforms and measures to strengthen cross border infrastructure, connectivity and trade facilitation and planning follow up high level engagement.
    December 5, 2024
    Russian President Putin praises PM Modi's "India-First" Policy and "Make in India" Initiative at VTB Russia Calling Investment Forum in Moscow
    Show AI Summary
    Investment cooperation: Russia signals manufacturing ties and BRICS platform backing to boost SME growth and cross border investment.
    President Putin praised India's India First orientation and the Make in India initiative as creating a stable investment environment, stated Russia is ready to set up manufacturing operations in India, linked India's policy to Russia's import substitution program and the rise of domestic Russian brands, and urged BRICS cooperation-including an investment platform and a rapid dispute resolution mechanism-to support SME growth and mobilise financial resources for partner countries.
    December 3, 2024
    Directorate of Revenue Intelligence (DRI) to celebrate 67th Foundation Day on 4th December 2024
    Show AI Summary
    Anti-smuggling enforcement cooperation: DRI to release national smuggling report and host a regional customs enforcement meeting.
    DRI will release the annual Smuggling in India report and convene a Regional Customs Enforcement Meeting to strengthen operational coordination and information sharing under Customs Mutual Assistance Agreements and in partnership with international agencies for enforcement-related matters. The agency serves as the central anti-smuggling enforcement body under the tax and customs authority, responsible for intelligence-led prevention, detection and investigation of smuggling, commercial fraud and customs duty evasion across a range of prohibited and sensitive goods.
    November 30, 2024
    National Awards for Indian Cement Industry presented during the 18th NCB International Conference and Exhibition on Cement, Concrete and Building Materials
    Show AI Summary
    Domestic certified reference material boosts import substitution and supports Make in India, aiding cement industry standards.
    National Awards recognized energy, environment, total quality and circular economy excellence in cement plants and grinding units, reaffirming commitments to water positivity and plastic negativity. The conference released an Indian Certified Reference Material for gypsum to substitute imported CRMs and support domestic manufacturing, issued the 8th edition of cement plant operational guide norms, and announced carbon footprint quantification and offsetting through an NCB incubated StartUp, while hosting technical papers, posters, an exhibition, and StartUp interactions.

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      Customs, DGFT & SEZ

      The cumulative overall exports during April-November 2024 is estimated at USD 536.25 Billion, as compared to USD 498.33 Billion in April-November 2023, with an estimated growth of 7.61%.

      December 16, 2024

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      The cumulative value of merchandise exports during April-November 2024 was USD 284.31 Billion, as compared to USD 278.26 Billion during April-November 2023, registering a positive growth of 2.17%.

      Non-Petroleum exports in November 2024 valued at USD 28.40 Billion registered an increased by 7.75% in comparison with USD 26.36 Billion in November 2023. The cumulative Non-Petroleum exports in April - November 2024 valued at USD 239.70 Billion registered an increased by 7.38% in comparison with USD 223.24 Billion in April - November 2023. The non-petroleum merchandise export of April-November 2024 surpassed the record of USD 233 Billion in April-November 2022.

      Non-petroleum & Non-Gems & Jewellery exports registered an increase of 11.79% from USD 23.55 Billion in November 2023 to USD 26.33 Billion in November 2024.

      Major drivers of merchandise exports growth in November 2024 includes Electronic Goods, Engineering Goods, Rice, Marine Products and RMG of all Textiles

      Electronic Goods exports increased by 54.72% from USD 2.24 Billion in November 2023 to USD 3.47 Billion in November 2024.

      Engineering Goods exports increased by 13.75 % from USD 7.82 Billion in November 2023 to USD 8.90 Billion in November 2024.

      Rice exports increased by 95.18% from USD 0.59 Billion in November 2023 to USD 1.14 Billion in November 2024.

      Marine Products exports increased by 17.82% from USD 0.64 Billion in November 2023 to USD 0.76 Billion in November 2024.

      RMG of all Textiles exports increased by 9.81% from USD 1.02 Billion in November 2023 to USD 1.12 Billion in November 2024.

      India’s total exports (Merchandise and Services combined) for November 2024* is estimated at USD 67.79 Billion, registering a positive growth of 9.59 percent vis-à-vis November 2023. Total imports (Merchandise and Services combined) for November 2024* is estimated at USD 87.63 Billion, registering a positive growth of 27.47 percent vis-à-vis November 2023.

      Table 1: Trade during November 2024*

       

       

      November 2024

      (USD Billion)

      November 2023

      (USD Billion)

      Merchandise

      Exports

      32.11

      33.75

      Imports

      69.95

      55.06

      Services*

      Exports

      35.67

      28.11

      Imports

      17.68

      13.68

      Total Trade

      (Merchandise +Services) *

      Exports

      67.79

      61.85

      Imports

      87.63

      68.74

      Trade Balance

      -19.84

      -6.89

      * Note: The latest data for services sector released by RBI is for October 2024. The data for November 2024 is an estimation, which will be revised based on RBI’s subsequent release. (ii) Data for April-November 2023 and April-June 2024 has been revised on pro-rata basis using quarterly balance of payments data.

      Fig 1: Total Trade during November 2024*

      India’s total exports during April-November 2024* is estimated at USD 536.25 Billion registering a positive growth of 7.61 percent. Total imports during April-November 2024* is estimated at USD 619.20 Billion registering a growth of 9.55 percent.

      Table 2: Trade during April-November 2024*

       

       

      April-November 2024

      (USD Billion)

      April-November 2023

      (USD Billion)

      Merchandise

      Exports

      284.31

      278.26

      Imports

      486.73

      449.24

      Services*

      Exports

      251.94

      220.08

      Imports

      132.47

      116.01

      Total Trade

      (Merchandise +Services) *

      Exports

      536.25

      498.33

      Imports

      619.20

      565.25

      Trade Balance

      -82.95

      -66.91

      Fig 2: Total Trade during April-November 2024*          

      MERCHANDISE TRADE

      Merchandise exports during November 2024 were USD 32.11 Billion as compared to USD 33.75 Billion in November 2023.

      Merchandise imports during November 2024 were USD 69.95 Billion as compared to USD 55.06 Billion in November 2023.

      Fig 3: Merchandise Trade during November 2024

      Merchandise exports during April-November 2024 were USD 284.31 Billion as compared to USD 278.26 Billion during April-November 2023.

      Merchandise imports during April-November 2024 were USD 486.73 Billion as compared to USD 449.24 Billion during April-November 2023.

      Merchandise trade deficit during April-November 2024 was USD 202.42 Billion as compared to USD 170.98 Billion during April-November 2023.

      Fig 4: Merchandise Trade during April-November 2024

      Non-petroleum and non-gems & jewellery exports in November 2024 were USD 26.33 Billion compared to USD 23.55 Billion in November 2023.

      Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in November 2024 were USD 37.36 Billion compared to USD 35.20 Billion in November 2023.

      Table 3: Trade excluding Petroleum and Gems & Jewellery during November 2024

       

      November 2024

      (USD Billion)

      November 2023

      (USD Billion)

      Non- petroleum exports

      28.40

      26.36

      Non- petroleum imports

      53.84

      40.13

      Non-petroleum & Non-Gems & Jewellery exports

      26.33

      23.55

      Non-petroleum & Non-Gems & Jewellery imports

      37.36

      35.20

      Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

      Fig 5: Trade excluding Petroleum and Gems & Jewellery during November 2024

      Non-petroleum and non-gems & jewellery exports in April-November 2024 were USD 220.47 Billion, compared to USD 201.83 Billion in April-November 2023.

      Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in April-November 2024 were USD 299.13 Billion, compared to USD 283.77 Billion in April-November 2023.

      Table 4: Trade excluding Petroleum and Gems & Jewellery during April-November 2024

       

      April-November 2024

      (USD Billion)

      April-November 2023

      (USD Billion)

      Non- petroleum exports

      239.70

      223.24

      Non- petroleum imports

      363.47

      334.21

      Non-petroleum & Non Gems & Jewellery exports

      220.47

      201.83

      Non-petroleum & Non Gems & Jewellery imports

      299.13

      283.77

      Note: Gems & Jewellery Imports include Gold, Silver & Pearls, precious & Semi-precious stones

      Fig 6: Trade excluding Petroleum and Gems & Jewellery during April-November 2024

      SERVICES TRADE

      The estimated value of services export for November 2024* is USD 35.67 Billion as compared to USD 28.11 Billion in November 2023.

      The estimated value of services imports for November 2024* is USD 17.68 Billion as compared to USD 13.68 Billion in November 2023.

      Fig 7: Services Trade during November 2024*

        

      The estimated value of service exports during April-November 2024* is USD 251.94 Billion as compared to USD 220.08 Billion in April-November 2023.

      The estimated value of service imports during April-November 2024* is USD 132.47 Billion as compared to USD 116.01 Billion in April-November 2023.

      The services trade surplus for April-November 2024* is USD 119.48 Billion as compared to USD 104.07 Billion in April-November 2023.

      Fig 8: Services Trade during April-November 2024*

      Exports of  Rice (95.18%), Electronic Goods (54.72%), Tobacco (50.48%), Jute Mfg. Including Floor Covering (36.13%), Cashew (23.61%), Meat, Dairy & Poultry Products (21.38%), Marine Products (17.82%), Coffee (16.31%), Tea (15%), Engineering Goods (13.75%), Plastic & Linoleum (10.91%), Rmg Of All Textiles (9.81%), Other Cereals  (7.4%), Spices (6.1%), Man-Made Yarn/Fabs./Made-Ups Etc. (4.88%), Cereal Preparations & Miscellaneous Processed Items (2.71%), Carpet (2.4%), Oil Seeds (2.19%), Cotton Yarn/Fabs./Made-Ups, Handloom Products Etc. (2.02%), Drugs & Pharmaceuticals (1.12%) and Leather & Leather Products (0.73%) record positive growth during November 2024 over the corresponding month of last year.

      Imports of Leather & Leather Products (-41.59%), Coal, Coke & Briquettes, Etc. (-29.31%), Iron & Steel (-28.63%), Dyeing/Tanning/Colouring Mtrls. (-5.26%), Transport Equipment (-5.23%), Pearls, Precious & Semi-Precious Stones (-3.27%), Metaliferrous Ores & Other Minerals (-0.86%) record negative growth during November 2024 over the corresponding month of last year.

      Services exports is estimated to grow by 14.48 percent during April-November 2024* over April-November 2023.

      Top 5 export destinations, in terms of change in value, exhibiting positive growth in November 2024 vis a vis November 2023 are U Arab Emts (11.38%), Australia (64.38%), Italy (37.71%), Singapore (22.88%) and Malaysia (27.31%).

      Top 5 export destinations, in terms of change in value, exhibiting positive growth in April-November 2024 vis a vis April-November 2023 are U Arab Emts (15.25%), Netherland (23.04%), U S A (5.27%), Singapore (20.7%) and U K (15.21%).

      Top 5 import sources, in terms of change in value, exhibiting growth in November 2024 vis a vis November 2023 are Switzerland (360.02%), U Arab Emts (109.57%), South Africa (217.33%), Australia (71.91%) and Saudi Arab (35.64%).

      Top 5 import sources, in terms of change in value, exhibiting growth in April-November 2024 vis a vis April-November 2023 are U Arab Emts (60.84%), China P Rp (9.81%), Russia (9.22%), Switzerland (21.83%) and Taiwan (42.82%).

      *Link for Quick Estimates

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