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New Delhi [India], January 5 (ANI): A recent case study conducted by the Indian Institute of Management (IIM) Lucknow, commissioned by the Department for Promotion of Industry and Internal Trade (DPIIT), unveils a success story for the Indian <keyword id="138116" type="General" weightage="20" keywordseo="toy-industry" source="Orion">toy industry</keyword> in the fiscal year 2022-23. The study indicates a notable decline of 52 per cent in toy imports and an impressive surge of 239 per cent in toy exports compared to the fiscal year 2014-15. The report credits the government's dedicated efforts in the past six years for creating a more favourable manufacturing ecosystem for the Indian toy industry. During this period, the number of manufacturing units doubled, reducing dependence on imported inputs from 33 per cent to 12 per cent. Furthermore, gross sales value witnessed a Compound Annual Growth Rate (CAGR) of 10 per cent, accompanied by an overall increase in labour productivity. The findings highlight India's emergence as a prominent player in the global toy value chain, evident in the country's integration into the global toy value chain and zero-duty market access for domestically manufactured <keyword id="25284" type="General" weightage="20" keywordseo="toys" source="Orion">toys</keyword> in nations like the UAE and Australia. The report positions India as a viable alternative to established toy hubs like China and Vietnam. To solidify its position in the global market, the report emphasizes the need for consistent collaborative efforts between the toy industry and the government. Key areas identified include technological advancements, e-commerce integration, partnerships and exports, brand-building investments, engagement with educators and parents for effective communication with children, valuing cultural diversity, and collaboration with regional artisans. The Indian government has implemented various interventions and initiatives to foster growth in the toy industry. These include the formulation of a comprehensive National Action Plan for Toys (NAPT) with 21 specific action points, increases in Basic Customs Duty (BCD) on toys, sample testing of each import consignment by the <keyword id="19992660" type="General" weightage="20" keywordseo="directorate-general-of-foreign-trade" source="keywords">Directorate General of Foreign Trade</keyword> (DGFT) to curb sub-standard imports, issuance of a Quality Control Order (QCO) for toys in 2020, and support through cluster-based approaches. The report indicates significant interest from global retail giant Walmart to import toys from India and sell them worldwide. Walmart has set a target of USD 10 billion for overall imports from India, including Indian toys. With the concerted efforts of the government and domestic manufacturers, the Indian toy industry is projected to witness substantial growth in the next five years. DPIIT Secretary mentions that the global toys industry stands at around USD 300 billion, whereas India holds around USD 1.5 billion. He envisions a doubling of the Indian toy industry in the next five years. <keyword id="20072072" type="General" weightage="20" keywordseo="sanjeev-singh" source="keywords">Sanjeev Singh</keyword>, Joint Secretary at DPIIT, reveals Walmart's interest in Indian toys, with a target of USD 10 billion in overall imports from India. Professor Sanjay Kumar Singh of IIM Lucknow notes a substantial reduction in India's dependency on Chinese imports, from 94 per cent to 62 per cent. Over 1,200 safety licenses issued by the <keyword id="20050220" type="General" weightage="20" keywordseo="bureau-of-indian-standards" source="keywords">Bureau of Indian Standards</keyword> (BIS) to domestic toy manufacturers further emphasize the safety and quality standards upheld by the industry. The successful trajectory of the Indian toy industry, reflected in declining imports, soaring exports, and quality improvement, showcases the positive impact of collaborative efforts and strategic government interventions. As the industry sets its sights on global markets, the case study underscores the importance of continued collaboration for sustained growth and innovation in the Indian toy sector. (ANI)

Indian toy industry witnesses 239% increase in exports: IIM Lucknow report

India has set up a target of USD 500 billion exports for the 2022-23 fiscal, a top government official said on Friday, contending that the COVID-19 pandemic has taught the country to "reimagine" world trade. In December 2021, exports stood at USD 37.8 billion, the highest-ever for any month, Additional <keyword id="93457" type="General" weightage="20" keywordseo="dgft" source="Orion">DGFT</keyword> <keyword id="5269279" type="General" weightage="20" keywordseo="Amiya-Chandra" source="Orion">Amiya Chandra</keyword> said during a webinar organised by the Bengal Chamber of Commerce and Industry. "We are bang on target to touch USD 400 billion for the current fiscal. So far in the first nine months, the country's exports were to the tune of USD 301.38 billion," he said. Chandra said India is targeting USD 1 trillion exports by 2027. "The apprehension that COVID-19 would lead to a sharp decline in foreign trade has turned out to be negative. However, the pandemic has taught us to reimagine world trade," he said. The fulcrum of international trade has shifted from Europe and the United States to South East Asia, the <keyword id="506234" type="General" weightage="20" keywordseo="directorate-general-of-foreign-trade" source="Orion">Directorate General of Foreign Trade</keyword> official said. He also said that the world is moving away from multilateral trade agreements to bilateral ones, and India is presently in the process of entering into six FTAs. Chandra said going ahead, artificial intelligence and other forms of technology will become important in matters relating to trade. A separate portal for MSMEs will be launched soon, he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazons-virtual-assistant-alexa-is-down-and-facing-issues-responding-to-voice-commands/articleshow/89037602.cms">Amazon’s virtual assistant Alexa is down and facing issues responding to voice commands</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/hul-increased-price-of-wheel-detergent-rim-bar-lux-surf-excel-many-times-in-last-three-months/articleshow/89037315.cms">You have been paying more for detergents, soaps over the last three months</a>

India targets $500 billion exports for FY23, says DGFT official

<ul><li>India’s ministry of commerce and industry has launched an online export awareness course to support future exporters. </li><li>The government also reportedly launched an app dedicated to update exporters on trade practices and share their grievances. </li><li>The online course is launched in collaboration with Indian Institute of Foreign Trade (IIFT).</li></ul>In a bid to boost international trade opportunities for potential exporters in India, the Ministry of Commerce and Industry has <a href="https://www.financialexpress.com/industry/sme/government-launches-online-course-app-to-support-potential-exporters/1490218/lite/">launched</a> an export awareness course. Once the course is complete, candidates will be awarded certificates in export-import management by the government under the ‘Niryat Bandhu Scheme’. The program titled, 'Anytime-Anywhere,’ is a reportedly a joint effort between the government and Indian Institute of Foreign Trade (IIFT). Commerce and industry minister, Suresh Prabhu reportedly said that the course is aimed at training, mentoring and supporting prospective exporters and traders in India. Stressing the need for spreading awareness on trade, commerce secretary Anup Wadhawan reportedly said the government has been able to stem decline in exports hurting the Indian market by facilitating trade combined with the growing technology and implementation of goods and services tax (GST). India’s Directorate General of Foreign Trade (DGFT), responsible for fostering the exports sector, is also trying to make the export sector more digital-savvy. According to Director General, Alok Chaturvedi, the DGFT has <a href="https://knnindia.co.in/news/newsdetails/sectors/prabhu-launches-anytime-anywhere-export-awareness-course-to-hand-hold-exporters">reportedly</a> approved to rebuild its entire IT infrastructure to go paperless and attain end-to-end IT enablement. It has also launched a DGFT's mobile app dedicated to trade practices, for a smooth sailing of the process. The app is designed as a communication platform that will let exporters apply for licences and stay updated on latest trade notices including <keyword id="35067" type="ORGANIZATION" weightage="20" keywordseo="foreign-trade-policy">Foreign Trade Policy</keyword> and international trade affairs. According to<a href="http://pib.nic.in/newsite/PrintRelease.aspx?relid=188641"> media reports</a>, <keyword id="147907" type="PERSON" weightage="20" keywordseo="Indias-exports">India's exports</keyword> faced a major slowdown in trade in the recent years. However, in the last three years, the country witnessed a slight increase in exports reaching $26.36 billion in January compared to $25.4 billion last year during the same time. See also: <a href="https://www.businessinsider.in/indian-government-maintains-ban-on-foreign-investments-in-multi-brand-retail/articleshow/67375565.cms">Indian government maintains ban on foreign investments in multi-brand retail</a> <a href="https://www.businessinsider.in/the-indian-government-may-roll-back-tax-on-angel-investments-that-is-said-to-be-hurting-the-countrys-startup-ecosystem/articleshow/67177981.cms">The Indian government may roll back a tax on angel investments that is said to be hurting the country’s startup ecosystem</a> <a href="https://www.businessinsider.in/india-to-make-a-renewed-push-for-an-important-regional-trade-treaty-that-will-create-the-worlds-largest-trading-bloc/articleshow/66602874.cms">India to make a renewed push for an important regional trade treaty that will create the world’s largest trading blo</a>

Fancy a career in exports? Indian government is offering an export awareness course

The <keyword id="105668" type="ORGANIZATION" weightage="100" keywordseo="Commerce-and-Industry-Ministry">commerce and industry ministry</keyword> is likely to come up with the new five-year <keyword id="35067" type="ORGANIZATION" weightage="100" keywordseo="foreign-trade-policy">foreign trade policy</keyword> (2009-14) after the <keyword id="6358021" type="PERSON" weightage="100" keywordseo="budget">budget</keyword> as the ministry is looking to increase manufacturing and exports. 
 
"The Directorate General of Foreign Trade is already doing stakeholder consultations. It is expected that the new FTP would be announced only after the Budget. It would help in giving final touch to the policy," sources informed.

Foreign Trade Policy Likely To Be Announced After Budget

New Delhi, Feb 19 () The minimum import price imposed on cashew kernels are not applicable for units in special economic zones (SEZs) and export oriented units (EoUs), according to a trade notice of the directorate general of foreign trade (DGFT). In June last year, the directorate, under the commerce ministry, had sharply increased the minimum import price (MIP) for whole and broken cashew to Rs 680 per Kg from Rs 288 per kg. Similarly for whole cashew, it was enhanced to Rs 720 per kg from Rs 400 per kg earlier. Below these prices, imports of the commodity is prohibited. In a trade notice, the directorate said it has received references from importers seeking clarification on application of MIP on import of cashew kernels in SEZ or EoU units. "The matter has been examined in this directorate. It is clarified that MIP on cashew kernels is not applicable for imports by 100 per cent EoUs and units in the SEZs," Deputy Director General of Foreign Trade Gagandeep Singh has said in the notice. SEZs and EoUs are developed as export hubs in the country. Raw materials imported by units in these zones are used for export purposes. The country produces around 3.5 lakh tonne of cashew kernels. The production and import of raw cashew is around 8 lakh tonne and 9 lakh tonne, respectively. Indian cashew industry exports different grades and products like cashew kernels (wholes and broken), cashew nut shell liquid (CNSL), cardanol (purified CNSL) and flavoured kernels. Indian cashew kernels are well accepted and preferred world over for its quality, taste, tradition and commitment to supply, compared to other origins. The country exports to about 80 countries, including the US, UAE, Netherlands, Saudi Arabia, Germany, Japan, Belgium, Korea, Spain, France, UK, Kuwait, Singapore, Qatar, Greece, Italy, Iran and Canada. RR SHWSHW

MIP imposed on cashew kernels not applicable for units in SEZs, EoUs: DGFT

The <a href="http://www.businessinsider.in/searchresult.cms?query=IT+department&amp;sortorder=effectivedate">IT department</a> has put a spanner in <a href="http://www.businessinsider.in/searchresult.cms?query=apple&amp;sortorder=effectivedate">Apple’s</a> expansion plans in India. The <a href="http://www.businessinsider.in/searchresult.cms?query=iphone&amp;sortorder=effectivedate">iPhone maker</a> made a bid to sell second-hand smartphones in the country, a move which was opposed by the Department of Electronics and Information Technology. 
 The department said it did not support <keyword id="6354427" type="CITY" weightage="20" keywordseo="Apple">Apple</keyword>’s plans to sell <a href="http://www.businessinsider.in/searchresult.cms?query=second+hand+phones&amp;sortorder=effectivedate">second-hand iPhones</a> in India as it would contribute to electronic waste. 
 
The IT department told the environment ministry and Director General of Foreign Trade that they were fine with getting the components and then refurbishing the iPhones locally. 
 
"We are fine with importing the components, refurbishing them locally for exports" because it would generate employment and contribute to forex earnings, a senior official told ET. 
 
Apple wants to make the most of Indian smartphone market and sees the country as a bright spot. 
 
Meanwhile, the environment ministry and the Director General of Foreign Trade are, reportedly, scrutinising Apple's application to import and sell pre-owned certified iPhones in India. 
 
Also, local manufacturers are against Apple's plan. 
 
As per reports, in US, refurbished iPhones are sold at discounts of up to 50% and if the same policy is adopted in India, it would affect the local smartphone makers immensely.

Apple’s plans to sell second-hand iPhones in India has hit a hurdle and this may dent its expansion plans

New Delhi, Mar 31 () The government on Tuesday extended the existing foreign trade policy (2015-20) for one year till March 2021 amid coronavirus outbreak and the lockdown to contain the virus spread."The existing foreign trade policy 2015-20 which is valid up to March 31 this year is extended up to March 31, 2021. Various other changes are also made extending the date of exemptions by one year and extending validity of DFIA and EPCG authorisations for import purposes," the directorate general of foreign trade said in a notification.Exports during April-February this fiscal dipped by 1.5 per cent to USD 292.91 billion.Imports during the period declined by 7.30 per cent to USD 436 billion, leaving a trade deficit of USD 143.12 billion.Export Promotion Capital Goods (EPCG) is an export promotion scheme under which an exporter can import certain amount of capital goods at zero duty for upgrading technology related with exports.On the other hand, advance authorisation is issued to allow duty free import of inputs, which is physically incorporated in export product.Under the Duty Free Import Authorisation (DFIA) scheme, exporters are allowed to import certain goods like sugar at zero duty. RR BALBAL

Foreign trade policy extended for one year till March 2021

New Delhi, Mar 12 () The Commerce Ministry is in the process of restructuring its Directorate General of Commercial Intelligence and Statistics (DGCI&amp;S) for creating a new Data Management and Research Unit (DMRU), sources said. The Kolkata-based DGCI&amp;S is an organisation for collection, compilation and dissemination of India's merchandise trade statistics and commercial information. Sources said that to bridge issues of data management and analysis being out of sync with policy related requirements, a complete integration is necessary. The entire organization of DMRU will be placed in New Delhi, and there will be a comprehensive revamp of IT system and data management. As per the plan there will be two stages of implementation, they added. While the first stage will address data access for official use and migration into a cloud-based server system, the second stage will be a comprehensive revamp of data collection and processing. The implementation of commercial intelligence operations will be moved to the Directorate General of Foreign Trade (DGFT). "As per the plan, DGCI&amp;S will be merged with the department of commerce and it will be replaced by DMRU," sources added. Further, DMRU will build capabilities in big data analysis, deployment of artificial intelligence and it will be responsible to bring data driven policy making in the department. It will also work closely with DGTR (Directorate General of Trade Remedies) and DGFT to build capabilities in trade defense, fraud prevention as well as data led export promotion. The new unit will integrate with trade commissioners at various Indian embassies and territorial divisions with a view to systematically and regularly collect inputs regarding commercial opportunities abroad and create a portal based access restricted to Indian business persons. Besides, it will collect trade and commercial intelligence about non-tariff barriers faced by Indian imports, information about government subsidies, intelligence about dumping and circumvention and disseminate the same to relevant wings of the department of commerce and line ministries based on the need. "DMRU will be responsible to set up data exchange mechanisms with other departments and ministries for trade related data. It shall build data repositories by setting up exchanges with GSTN as well as line ministries responsible for administration of different industrial sectors," sources said. It will also be responsible to set up data exchange mechanisms with partner countries and international organisations. There will be a total of 17 Group A officers in the new unit. On the need for the new unit, sources added that considerable mismatches have been detected in DGCI&amp;S data. It was also not capturing data related to trans-shipments, last known country of destination and other vital data for policy making. The institution originated in pre-independent India in 1871 and is located in Kolkata. RRRVK

ComMin to create Data Management and Research Unit by restructuring DGCI&S

<ul><li>Reportedly, the <keyword id="6595454" type="General" weightage="20" keywordseo="directorate-general-of-trade-remedies" source="Orion">Directorate General of Trade Remedies</keyword> has recommended anti-dumping duty on Caprolactam from the European Union, Korea, Russia and Thailand.</li><li>This is seen benefiting the company as it had filed an application for anti-dumping duty on Caprolactam earlier.</li><li>Shares of the company rose 4% on Tuesday morning.</li></ul>Shares of <keyword id="625214" type="General" weightage="20" keywordseo="gujarat-state-fertilizers-and-chemicals" source="Orion">Gujarat State Fertilizers and Chemicals</keyword> rose over 4% on Tuesday after a report by news channel CNBCTV-18 said that India’s Directorate General of Trade Remedies (DGTR) has recommended anti-dumping duty on Caprolactam used in nylon-making from the European Union, Korea, Russia and Thailand. The Gujarat-based firm had earlier filed an application for anti-dumping duty on Caprolactam as cheap imports by some countries were disrupting trade for domestic players. The company manufactures fertilisers and industrial chemicals. <div type="image" title="gujarat state fert chart" height="900" width="1200" msid="86576500" hostid="261"></div> Basically, anti-dumping duty is a tariff imposed on imports from other countries that export products at cheaper value thereby disrupting trade in the domestic market. To ensure a level playing field in the domestic market, the government imposes anti-dumping duty on foreign imports when it believes that the goods are being “dumped” – through the low pricing – in the domestic market. Anti-dumping duty is imposed to protect local businesses and markets from unfair competition. The company had alleged that material injury was being caused to the domestic industry due to dumped imports from the subject countries and has requested the DGTR for the imposition of the anti-dumping duties on the imports. The imposition of anti-dumping duty is permissible under the World Trade Organisation (WTO) regime. The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/pine-labs-is-betting-on-these-two-segments-to-make-it-worth-6-billion-dollars/articleshow/86559235.cms">Nearly as old as Google, Pine Labs is betting on these two segments to make it worth $6 billion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-paras-defence-and-space-technologies-ipo-allotment/articleshow/86559437.cms">Paras Defence and Space Technologies IPO: Here’s how to check allotment status</a>

Gujarat State Fertilizers and Chemicals surges over 4% on reports of anti-dumping duty approval

(Eds: Updates with more details) New Delhi, Mar 2 () Export of all varieties of onion will be free from March 15, the government announced on Monday, lifting around six-month-old curbs on shipments of the bulb following a correction in prices and improvement in local supplies. The Directorate General of Foreign Trade (DGFT) also announced removing the minimum export price (MEP) for outward shipments of the commodity. "The export of all varieties of onions has been made free without any condition of letter of credit and MEP, with effect from March 15, 2020," the Directorate General of Foreign Trade (DGFT) said in a notification. Farmers in several parts of Nashik district in Maharashtra agitated over falling onion prices, with an official informing that average per quintal price for Monday was Rs 1,450 at Lasalgaon, the country's largest market for the kitchen staple.Commerce and Industry Minister Piyush Goyal said that the decision will help boost the income of farmers.The government last week decided to lift ban on export of onions in view of projected sharp fall in prices due to bumper rabi crop.In September 2019, the government banned onion exports and also imposed an MEP of USD 850 per tonne. The move came after prices started skyrocketing due to supply-demand mismatch.In December last year, the prices hit Rs 160 per kg in certain parts of the country. The prices are hovering at around Rs 30 per kg at present.Expected monthly harvest in March is over 40 lakh MT compared to 28.4 lakh MT last year, Food Minister Ram Vilas Paswan had tweeted on Wednesday.There was shortage of onion as kharif crop was adversely affected due to excess rains and floods in key producing states, including Maharashtra.Currently, the arrival of rabi (winter) crop of onion has begun in small quantities and would increase from mid-March onwards.Exports of onion are expected to arrest sharp the fall in domestic prices. RR MRMR

Govt allows onion exports from Mar 15, MEP removed

The Supreme Court has rejected an appeal by the Commissioner of Customs, Kandla for imposing a penalty on the company and its director for the alleged wrong classification of the material imported through <keyword id="209584" type="COMPANY" weightage="20" keywordseo="Kandla-Port">Kandla port</keyword>. The commissioner of customs at the port had levied a penalty of Rs 8,609.82 million for alleged duty evasion by incorrectly classifying the raw materials as well as Rs 205 million on the directors and other officers of the firm. 
	 
	“Supreme Court of India has dismissed an appeal filed by the Commissioner of Customs, Kandla against the CESTAT Order dated May 22, 2014 which had set aside the Order of the Commissioner of Customs, Kandla for duty evasion of Rs 8,609.82 million on account of alleged wrong classification of imported raw materials along with penalty of Rs 8,609.82 million on the Company and a penalty of Rs 205 million on the directors and officers of the Company,” said the company in a letter to the National Stock Exchange on December 9, 2014. 
	 It further added that a separate case has been filed in the Bombay High Court by the additional director general of Directorate General of Foreign Trade (<keyword id="93457" type="ORGANIZATION" weightage="20" keywordseo="DGFT">DGFT</keyword>), Mumbai wing. “In the same matter, a separate proceeding by Addl DGFT, Mumbai, wherein the Hon'ble Bombay High Court has already granted interim stay in Company's favour is awaiting final disposal,” stated the company in its filings. 
	 
	Representational Image

Supreme Court
Rejects Appeal Against Welspun Corp

New Delhi, Mar 11 () The commerce and industry ministry has called a meeting of all stakeholders on March 16 to discuss issues related to the forthcoming foreign trade policy (FTP) for 2020-25, an official said. The meeting will be attended by industry chambers and exporters from various sectors such as textiles, chemicals, agriculture, capital goods, electronics, engineering, pharmaceuticals, leather, higher education, hospitality, e-commerce, and entertainment. "We will have a sector-wise roundtable meetings and it will be followed by report-back session," the official said. All exports and import-related activities are governed by the FTP, mainly aimed at enhancing the country's exports and use trade expansion as an effective instrument of economic growth and employment generation. The meeting assumes significance as the commerce ministry is likely to soon come out with the policy, which provides guideline and incentives for increasing exports, for the next five financial years 2020-25. The validity for the old one will end on March 31, 2020. The new policy could focus on simplifying procedures for exporters and importers besides providing incentives to boost outbound shipments. The ministry's arm Directorate General of Foreign Trade (DGFT) is formulating the policy. Currently, tax benefits are provided under the Merchandise Export from India Scheme (MEIS) for goods and the Services Export from India Scheme (SEIS). In the new policy, changes are expected in the incentives given to goods as the current export promotion schemes are challenged in the World Trade Organization. RR HRS

You Searched For "directorate general of foreign trade" and got 12 results

Indian toy industry witnesses 239% increase in exports: IIM Lucknow report

ANI

India targets $500 billion exports for FY23, says DGFT official

PTI

Fancy a career in exports? Indian government is offering an export awareness course

BI India Bureau

Foreign Trade Policy Likely To Be Announced After Budget

BI India Bureau

MIP imposed on cashew kernels not applicable for units in SEZs, EoUs: DGFT

PTI

Apple’s plans to sell second-hand iPhones in India has hit a hurdle and this may dent its expansion plans

BI India Bureau

Foreign trade policy extended for one year till March 2021

PTI

ComMin to create Data Management and Research Unit by restructuring DGCI&S

PTI

Gujarat State Fertilizers and Chemicals surges over 4% on reports of anti-dumping duty approval

Bhakti Makwana

Govt allows onion exports from Mar 15, MEP removed

PTI

Supreme Court Rejects Appeal Against Welspun Corp

Purba Das

Commerce ministry calls meeting of stakeholders on Mar 16 on new foreign trade policy

PTI

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