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The Dollar Business Bureau India’s exports would be impacted if the current tariff war escalates into a full-fledged trade war, apex trade body ASSOCHAM said, adding that there would be severe damage to the Indian economy too. “If the tariff war escalates into a full-scale global trade war, it would have a collateral damage for the Indian economy as well, with the country's exports taking a hit, current account deficit facing pressure and the GDP taking a setback,” the trade body said in a statement on Sunday. The Chamber further said that the move of the US administration to levy tariffs could lead to a further retaliation against the US but it may not have a direct impact on India. “Instead of de-escalating, the ...

The Dollar Business Bureau Though India’s trade deficit may reach around $150 billion annually and the level of imports is much higher over exports, the country doesn’t have much flexing power, it the world witnesses an escalation in trade war, said the industry body Associated Chambers of Commerce of India (ASSOCHAM). “We cannot flex too much of our importing muscle, even if our exports face consequences of trade war and are subjected to tariff barriers,” ASSOCHAM in a statement on Sunday. The industry body pointed out that the best course in this situation would be to continue our engagement with the key trading partners, without aligning ourselves too much into a single bloc. “Wherever, our exports are affected, we must engage bilaterally and use ...

The Dollar Business Bureau President of Vietnam, Tran Dai Quang extended invite to business communities in India to invest in Vietnam and said that his country offers conducive environment and sustainable development. “India continues to be among Vietnam’s top ten trading partners as the bilateral trade turnover has increased 16% per annum on average in the past decade,” the Vietnamese President said while addressing a business meeting jointly organised by ASSOCHAM, CII and FICCI in New Delhi on Saturday. “India has given priority to Vietnam in development cooperation and education and training, and paid attention to promoting bilateral cooperation in science and technology, information and communication, energy, oil and gas, agriculture and tourism,” he said. “India has actively supported Vietnam in training, capacity building, ...

The Dollar Business Bureau Export Promotion Council for EOUs and SEZs (EPCES) and the apex industry body, The Associated Chambers of Commerce & Industry of India (ASSOCHAM) on Friday signed a memorandum of understanding (MoU) collaborate together to actualise a shared agenda consisting of wide ranging activities of mutual benefits. Speaking on the occasion, Vinay Sharma, Officiating Chairman EPCES said, “There has long been a need felt to effectively tap the benefits of the already existing synergies between EPCES and ASSOCHAM - the two leading industry bodies of the country. “And in this regard, I am fully confident that the agreement would henceforth play a catalytic role in furthering this shared vision of the two organisations. Going forward, I am certain that the ...

Aamir H Kaki Industry players have welcomed and appreciated the Union Budget 2018-19 and called it a balancing act aimed at inclusive growth for boosting the country’s economy. Focused on strengthening agriculture, rural economy, infrastructure, MSME and exports, the Budget for fiscal 2018-19 was presented by Finance Minister Arun Jaitley on Thursday. Welcoming the Budget, Federation of Indian Export Organisation (FIEO) said that it’s a balanced Budget for the country aiming at inclusive growth and transforming rural India.  FIEO President Ganesh Kumar Gupta said that the target to take agri-exports from $30 billion to $100 billion is very encouraging as agri-exports would be instrumental in doubling farmers’ income. A stable Agri Export Policy based on digitalised current stock position, scientific forecasting of ...

The Dollar Business Bureau The apex industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM), in its pre-budget recommendations, urged the Government to levy a 10% customs duty on hardwood chemical pulp and bleached chemi-thermo mechanical pulp (BCTMP) imports in order to promote production of pulp in the country. The industry said that this would provide a fillip in creating jobs and support overall economic development of the country’s vast rural hinterland which covers pulpwood plantations. “These measures would help energise creation of sustainable sources of fibre required by Indian pulp and paper industry,” ASSOCHAM said in a statement on Tuesday. It also asked for policy measures for facilitating participation of private sector in plantation development programmes. As per estimates, India imports more ...

The Dollar Business Bureau Indian healthcare market is expected to increase threefold to touch $372 billion by 2022, registering a growth of 22% annually, according to a study. “India’s healthcare market may see threefold rise as its size in value terms is likely to reach $372 billion by 2022 from the level of $110 billion as of 2016 thereby clocking a compounded annual growth rate (CAGR) of 22%, said a statement by ASSOCHAM on Sunday. The findings are based on a paper on ‘Indian Healthcare Sector - An Overview’, jointly prepared by ASSOCHAM and the research firm RNCOS. On the reasons for the likely growth, the paper noted that increasing demand for affordable healthcare delivery system in India due to rising healthcare costs, growing ...

The Dollar Business Bureau The Government is working on a four-pronged strategy in order to boost the capacity of airports all over India, said Minister of State for Civil Aviation Jayant Sinha on Wednesday. “We have been spending a lot of time thinking and planning about what we should do about airport capacity, we are working on four different aspects,” Sinha said while inaugurating a civil aviation conference organised by ASSOCHAM in New Delhi. The Minister further said that his ministry is working simultaneously on boosting the capacity at key airport hubs of Delhi, Mumbai, Bengaluru, Kolkata and Chennai and is also working to develop new brown-field and green-field airports as well as smaller airports in tier III and IV cities. “We are significantly ...