Renault and Iran enter into one of the biggest ever car deals, to produce 150,000 cars
The Dollar Business Bureau French car maker Renault and Iran signed a mega JV on Monday in the presence of the Iranian Industry Minister, Mohammedreza Nematzadeh. The JV could change the tide of the car maker in the oil rich Middle eastern country. Many Western companies have made a beeline to do business in Iran with the lifting of the sanctions. The joint venture was signed between Renault and Industrial Development & Renovation Organization of Iran (IRDO). Renault will be the majority shareholder holding 60% of the shares, with IDRO and another private player Parto Negin Naseh taking up 20% each. The production of the cars will begin in 2018, with both the parties agreeing to set up an engineering and sales centre ...
Government enhances support for exports under MEIS
Source: PIB, Government of India In light of the major challenges being faced by Indian exporters in the backdrop of the global economic slowdown, Department of Commerce on Friday announced increased support for export of various products and included some additional items under the Merchandise Exports from India Scheme (MEIS). This has been introduced through the Public Notice 44 issued on 29th October, 2015 by the Directorate General of Foreign Trade. MEIS, introduced through the Foreign Trade Policy (FTP) 2015-20 on April 1, 2015, with product and market focused incentives for 4,914 tariff lines, is a major export promotion scheme implemented by the Ministry of Commerce and Industry. Rewards under MEIS are payable as a percentage of realized FOB (free on board) ...
Germany's Linde Group mulls $200 mn investment in India
Source: PTI The Linde Group of Germany is planning to invest over $200 million (about Rs.1,300 crores) in Andhra Pradesh in fisheries-related areas. The Group’s Chief Executive Officer Wolfgang Buchele, Member of Executive Board Sanjiv Lamba and other company officials met Chief Minister N Chandrababu Naidu in Vijayawada on Friday and expressed interest in working with the state in freezing of seafood, an official release said. Andhra Pradesh is one of the top states in fisheries production in the country. During the meeting, Buchele explained Linde's expertise in cryogenic freezing of food, international gases market and engineering expertise in supporting olefin plants, natural gas plants and air separation plants, as well as hydrogen and synthesis gas plants. He said the company ...
