exporters

The government on Thursday announced the extension of export benefits under the RoDTEP scheme for ecommerce exports through post or couriers. The scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) provides for refund of taxes, duties and levies that are incurred by exporters in the process of manufacturing and distribution of goods and are not being reimbursed under any other mechanism at the centre, state, or local level. The commerce ministry's arm DGFT (Directorate General of Foreign Trade) will put…

Amazon recently organised its two day sale exclusively for Prime members globally. The e-tailer has now revealed that Indian exporters on Amazon Global Selling saw nearly 70% business growth (YoY), going past the average growth rates in the previous editions of the two-day sale event. Indian exporters sold hundreds of thousands of ‘Made in India’ products to customers across the world with categories like Beauty, Apparel, Home, Furniture, Kitchen witnessing highest growth. Several globally popular Indian brands such as…

The Naira on Friday depreciated against the United States dollar, exchanging at N803.90 at the investors and exporters window. The Naira slipped by 7.72 per cent when compared with N746.28 which it exchanged for the dollar on Thursday. The open indicative rate closed at N763.36 to one dollar on Friday. A spot exchange rate of N829 to the dollar was the highest rate recorded within the day’s trading before it settled at N803.90. Data gathered from the official window shows that the Naira sold for as low as N689.34…

The Central Bank of Nigeria (CBN) has said that non-oil exporters repatriated the sum of $4.99 billion into Nigeria in 2022. The governor of the CBN, Godwin Emefiele, disclosed this while delivering a keynote address at the second edition of the RT-200 Bi-annual Export Summit on Tuesday in Lagos. The News Agency of Nigeria (NAN) reports that the theme of the summit is: “RT Non-Oil Export: The Journey So Far.” Mr Emefiele said the 2022 figure was higher when compared with $3.19 billion repatriated in 2021. “Of…

Thanks to cross-border e-commerce platforms, China continues to be a major exporter of consumer goods for the world in the online shopping age. It’s not just marketplaces like Amazon and AliExpress that are enabling Chinese businesses to sell abroad. Behind the scene, a group of startups are making the software that allows exporters to more easily figure out what to sell and how to sell. Dianxiaomi, roughly translated as ‘shop assistant’, is one of these ecommerce SaaS providers. The company…