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The Dollar Business Bureau Commerce Secretary, Rita Teaotia had led an official and a business delegation to Ecuador and Colombia from 16th to 19th May. The Commerce Secy’s visit to Ecuador could in many ways reveal India’s keenness to further its interests in the country. The Indian side had representatives from Pharma, IT, Auto, Mining & Construction, Bio Fuels, Agro-Chemicals, Iron & Steel and Textiles and representatives from FICCI accompanying the Secretary. Ecuador though a tiny country holds many promises through its natural resources. It has gold reserves of 2,25,000 tons, silver reserves of 12,500 tons and as per an OPEC official release, its total share of OPEC production in crude is 1.7% and as per Jan 2017 stats, has produced 536.00K barrels ...

The Dollar Business Bureau   Japanese automaker Isuzu Motors India (IMI) inaugurated a new state-of-the-art plant at Sri City, Andhra Pradesh and expects to reach a production level of 50,000 units per year in the coming three years. The plant was inaugurated by N Chandrababu Naidu, Chief Minister of Andhra Pradesh. The automaker rolled out its D-Max V-Cross - India’s first adventure utility vehicle, from this newly-opened facility. The company earmarked an investment of Rs.3000 crore for the project. Spread over an area of 107 acres, this local manufacturing facility has the production capacity of 50,000 units, which in future can be scaled up to 120,000 units. According to the company release, at the start of production, the new generation of Isuzu D-Max vehicles will be manufactured ...

Source: PTI Attributing the stock market crash to global turbulence, Finance Minister Arun Jaitley on Monday said the government and RBI were watching the situation and hoped that things will stabilise once the transient impact is over. "There has been for the last few days a great amount of turbulence which was being caused in the global markets. Obviously that turbulence has had impact on Indian market itself. The factors responsible for this are entirely external. “There is not a single domestic factor in India which has either contributed to it or added to it. These are external factors. I have not the least doubt that this turbulence is transient and temporary in nature. The markets will settle down,” he said. ...

The Dollar Business Bureau With the deadline for Budget 2015 fast approaching, it is time for pre-budget recommendations especially with respect to the manufacturing industry. With the government’s campaign of ‘Make In India’ (a programme of the government which aims at increasing the share of domestic manufacturing in India's economic growth and create jobs) picking up like wild fire, manufacturers are looking at measures like removal of ‘inverted duty structure’ on key sectors like coir, auto, pharmaceuticals and electronics. Inverted duty structure impacts the domestic industry adversely as manufacturers have to pay a higher price for raw material in terms of duty, while the finished product lands at lower duty and costs less. Several industry bodies have been pressurizing Finance ...

He says that the Finance Minister did not reduce the import duty on gold even by 2-3% (from the current 10%) which means that smuggling of gold will continue. Vipul Shah said that the Modi government’s maiden budget did not signal any bold reforms. However, he added that the Gem & Jewelry sector is happy that its recommendations for rationalization of import duty on broken diamonds and withdrawal of import duty on pre-forms of semiprecious and precious stones have been accepted. “Also the rationalization of import duty on processed diamonds to 2.5% will help the domestic manufacturing sector,” he said.   IOPEPC: Budget is the first step, India needs a favourable FTP Kishore Tanna, Chairman, Indian Oilseeds And Produce Export ...