&w=3840&q=100)
Issuance of preferential certificate under FTAs increases in FY25
The number of preferential certificates of origin issued under free trade agreements implemented so far has recorded a healthy increase, rising to 7,20,914 in 2024-25 from 6,84,724 in 2023-24.
The number of preferential certificates of origin issued by India under free trade agreements (FTAs) with Korea and Japan rose to 54,644 and 47,809, respectively, in 2024-25 against 52,158 and 42,306, respectively, in 2023-24, according to the commerce ministry data.
India has issued 4,664 such certificates in 2024-25 under the FTA with Malaysia, against 4,370 certificates in 2023-24. Similarly, India has issued 19,267 certificates under the trade pact with Sri Lanka in 2024-25 compared to 12,520 such documents in 2023-24.
For Asean (Association of South east asian nations), the country has issued 1,79,965 certificates last fiscal as against 98,104 certificates in 2023-24.
Asean members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
For SAFTA (South Asia Free Trade Agreement), 67,562 certificates were issued last year against 58,269 certificates in 2023-24.
These certificates are essential for Indian exporters to claim preferential tariff benefits under respective trade agreements, thereby enhancing the competitiveness of Indian goods in partner markets and facilitating smoother access to global value chains.
In a free trade agreement, two countries either significantly reduce or eliminate import duties on the maximum number of goods traded between them.
India has so far implemented over a dozen such agreements with countries, including Japan, Singapore, Korea, UAE and Australia.
Increasing issuance of these documents also highlights the strengthening trade relationship between the FTA partners. Besides, it increases awareness among Indian exporters about the advantages of leveraging these agreements, an official said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
3 minutes ago
- Mint
Top Losers and Gainers on July 28: Kotak Mahindra Bank, SBI Cards, GMDC, CDSL among top losers today
Indian equities ended another session in the red, dragged down by a sharp decline in Kotak Mahindra Bank along with weakness in other key heavyweights, including Bharti Airtel and TCS, leading to an almost 0.70% drop in the benchmark indices. In addition, the delay in a potential India–US trade deal and continued selling by overseas investors also weighed on the Indian stock market, which extended its losing streak to a third consecutive session on Monday and fell to a 7-week low. The Nifty 50 slipped below the 24,700 mark, settling at 24,680 with a 0.63% decline, while the S&P BSE Sensex dropped 0.72% to close at 80,874 points. While large-cap stocks continued to face selling pressure, mid- and small-cap stocks saw even sharper declines, with the Nifty Smallcap 100 ending today's session down 1.26% and the Nifty Midcap 100 closing with a 0.84% drop.
Mint
3 minutes ago
- Mint
Personal loan volume spikes, year-on-year growth drops in FY 2025: Report
Resorting to borrowing when the credit need arises is a typical behaviour of consumers. Be it for car, home, consumer durables or for personal needs, borrowing is the part and parcel of life of consumers everywhere. CRIF High Mark released its annual report listing out latest trends relating to borrowing trends of Indian consumers. The report highlights that personal loan POS grew from ₹ 10.7 lakh crore to ₹ 14.6 lakh crore over two years but year-on-year growth fell sharply from 25.2 percent in FY2024 to 9.1 percent in FY2025. The report titled How India Lends Credit Landscape in India FY 2025 provides in depth insights into originations, portfolio and delinquency trends across major product categories. When it comes to the lender type, the share of NBFCs has increased from 27.6 percent to 36.4 percent in the past two years from 2023 to 2025. During this time, the share of private banks fell from 32.5 percent to 29.2 percent. The share of PSU banks declined from 35.3 percent to 30.5 percent. The share of origination value for personal loans over ₹ 10 lakh has risen steadily from 28.2 percent in FY24 to 30.9 percent in FY25, indicating a growing preference for higher-value loans. Meanwhile, the share for loans between ₹ 1 lakh and ₹ 10 lakh has declined, suggesting a shift away from mid-sized lending. Interestingly, loans under ₹ 1 lakh are also gaining market share in origination value, driven by the increasing adoption of digital and small-ticket lending solutions, especially by NBFCs. Loans below ₹ 1L also continue to dominate in volume, increasing from 87.1% in FY24 to 89.3% in FY25. The origination value of two-wheeler loans jumped from ₹ 99,543 crore in FY24 to ₹ 110,056 crore in FY25, though the growth rate moderated from 25.1 percent to 10.6 percent over the same period. The report suggests that tighter credit policies aimed at managing default risks, along with increasing stress among sub-prime borrowers, may have influenced this slowdown. Two-wheeler loan delinquencies increased across all lender types from Mar '24 to Mar 2025, with PAR 31-90 percent for PSU Banks climbing from 1.27 percent to 1.61 percent and private banks rising from 3.27 percent to 3.62 percent. In terms of credit cards, the share of private banks fell from 70.8 percent to 69.6 percent (active loans) and from 69.9 percent to 68.9 percent (portfolio outstanding). New card originations fell to 216.4 lakh in FY25, down 26.4 percent YoY, reversing the strong growth seen in FY22 and FY23. This follows a peak of 294.1 lakh cards that were issued in fiscal 2024, indicating a clear slowdown in momentum and tightening credit criteria. For all personal finance updates, visit here Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
Mint
5 minutes ago
- Mint
Why is Mold-Tek Packaging share price rising in bear-hit market? EXPLAINED
Small-cap stock Mold-Tek Packaging's share price is trading higher amid an overall bearish stock market on Monday, 28 July 2025, after the company recorded nearly a 36% jump in its April-June quarter net profits for the 2025-26 fiscal year, according to an exchange filing. Monday's fall on the Indian stock market marked the third consecutive day on which the benchmark indices closed in the red zone over a delayed India-US trade deal ahead of the US President Donald Trump's 1 August 2025 tariff deadline, relentless foreign capital outflows, and muted Q1 results, which continue to dampen investor risk appetite. The packaging firm's net profits rose 35.5% to ₹ 22.39 crore in the first quarter of the financial year 2025-26, compared on a year-on-year (YoY) basis with ₹ 16.52 crore in the same quarter of the previous fiscal year, as per the company's statements. Mold-Tek Packaging's revenue from core operations jumped 22% to ₹ 240.55 crore in the first quarter of the current fiscal year, compared YoY with ₹ 196.72 crore in the same period a year ago. Mold-Tek Packaging's share price jumped 2.30% to ₹ 757.30 during Monday's stock market session, compared to ₹ 740.35 in the previous market close. The company announced its first-quarter results during the stock market session on 28 July 2025. Shares of the packaging company have given stock market investors more than 233% returns in the last five years. However, in the last one-year period, the stock has lost 5.41%. On a year-to-date (YTD) basis, the shares have gained 14.06% and are currently trading 3.20% higher in the last five market sessions on the Indian stock market. Mold-Tek Packaging stock hit its 52-week high level at ₹ 841.80 on 1 August 2024, while the 52-week low level was at ₹ 415 on 7 April 2025, according to the BSE data. The company's market capitalisation stood at ₹ 2,513.27 crore as of the stock market session on Monday, 28 July 2025. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
