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economictimes.indiatimes.com / 1 year ago
Non-tariff measures limit market access for Indian exports, says DGFT
Non-tariff measures being announced by developed economies such as European Union's carbon tax and deforestation regulation limit market access for Indian goods in those markets, a senior government official said on Tuesday. Addressing a post-Budget webinar, Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that the other challenges before Indian exports include insufficient integration with global value chains, high import duties, technology disadvantage, and high cost of logistics (about 8-9 per cent of GDP against 5-6 per cent in developed nations).
He added that the export window is also narrowing because of aggressive industrial policies of advanced nations like USA's Inflation Reduction Act and Chips Act, and UK's advanced manufacturing plan.
Most non-tariff measures (NTMs) are domestic rules created by countries with an aim to protect human, animal or plant health and the environment. NTM may be technical measures like regulations, standards, testing, certification, pre-shipment inspection or non-technical measures like quotas, import licensing, subsidies, and government procurement restrictions.
When NTMs become arbitrary, beyond scientific justification, they create hurdles for trade and are called NTBs (non-tariff barriers).
Sarangi further said that export credit as a percentage of total merchandise exports is only 28.5 per cent in India.
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21.05 / 10:17
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Booking
wellness
film
How chronic illness became a starting point for artistic alchemy for Koshy Brahmatmaj
Subscribe to enjoy similar stories.Pain is invisible; the sufferer has to make noise for it to be acknowledged, treated or accepted. Mumbai-based artist Koshy Brahmatmaj, 34, lives with chronic endometriosis, a painful condition that afflicts millions of women around the world.
21.05 / 10:17
markets
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Even at $5 trillion, Nvidia is underappreciated
Subscribe to enjoy similar stories.Nvidia is no longer the only AI chip game in town. But it is the largest by far, and the likelihood that it will be that way for the foreseeable future should count for something.It hasn’t counted for much lately.
21.05 / 10:17
markets
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RK Swamy bets on integrated advertising model as global agency giants split media and creative
Subscribe to enjoy similar stories.Homegrown advertising group RK Swamy Ltd is betting on its integrated marketing model to drive growth over the next few years, combining media, creative and other advertising services even as the ‘Big Four’ agency networks increasingly separate those businesses.“We never did disaggregated media and creative [although] that was an option 20 years ago,” Shekhar Swamy, MD and group CEO of RK Swamy Ltd told Mint in an interview.“How can you disaggregate the two? The media function holds a lot of data, and then when media and creative walk separately, it creates a lot of tension. This is not a sensible model for a client.”RK Swamy’s clients include Magicbricks, Polycab, and several government institutions and PSUs such as LIC.The company reported a 15% jump in annual revenue for FY26 to ₹351.73 crore, while profit before tax and exceptional items rose 30% year-on-year to ₹32.2 crore.
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21.05 / 09:47
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FPIs exit Korea & Taiwan: Is India ready for the flow rotation?
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PI Industries’ weak core business keeps investors on edge
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Secured credit cards: Unlocking credit and building a credit score for millions
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Subscribe to enjoy similar stories.Forensic audits have gained significance in today’s world of business as they serve as a useful tool for commercial lenders to investigate fraud by borrowers and/or identify other deep-seated financial irregularities. Forensic auditors are also employed by resolution professionals to report on preferential, undervalued, fraudulent and extortionate (‘PUFE’) transactions for adjudication under India’s Insolvency and Bankruptcy Code (IBC). While there is no single universal definition, several globally recognized organizations have provided widely accepted definitions (and norms) of forensic auditing.
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Subscribe to enjoy similar stories.MUMBAI: India’s listed electronics manufacturers are under pressure to defend profitability as the mobile-phone assembly boom slows, prompting a shift towards higher-value industrial electronics.Investors remained jittery through the last fiscal, driven by concerns that slowing consumer sentiment could weigh on the rapid growth that electronics manufacturing services (EMS) firms have delivered so far.In an interview with Mint, Jasbir Singh Gujral, managing director of Syrma SGS Technology Ltd, India’s second-largest listed EMS firm, said, “We’re increasingly looking to capture a larger chunk of contracts from defence, aerospace and med-tech verticals, all of which represent opportunities for original design manufacturing, and also bring significantly higher margins. We’ve already started this transition, and we plan to do more of it this fiscal.”Beyond mobile phones and laptops, EMS firms are expanding into smart metres for electricity boards, aerospace and defence subsystems, railway safety instrumentation, printed circuit boards and display assemblies, and medical devices deployed in hospitals.India’s annual mobile phone shipments have remained subdued since the covid-19 pandemic, with industry estimates pointing to a single-digit decline this calendar year from 152 million smartphones shipped last year.The margin pressure driving this shift is increasingly visible.In FY26, Syrma SGS reported an operating margin of 7.1%, up 2.3 percentage points.
