FDI jumps 37% to $10.4 bn during April-June this year
The Dollar Business Bureau Foreign direct investment (FDI) into India surged by 37% to $10.4 billion during the April-June quarter of current financial year, Department of Industrial Policy and Promotion (DIPP) said on Monday. According to the DIPP data, India had received FDI amounting to $7.59 billion during the first quarter of 2016-17. The key sectors which attracted the maximum inflow of foreign investments include services, trading, telecom, automobile and computer software and hardware. The countries from where the bulk of FDI came into India are Japan, Mauritius, the Netherlands and Singapore. The Government has announced various measures for attracting foreign inflows that include improvement in business climate and liberalisation of FDI policy. FDI is considered vital for India as it needs about $1 trillion to ...
We are going to bring in a policy to promote use of alternative fuel: Gadkari
The Dollar Business Bureau With a view to bringing down logistics cost and pollution levels, the Government has decided to bring a policy for promoting the use of alternative fuel, Road Transport and Highways Minister Nitin Gadkari said on Thursday, while adding that the logistics cost is quite high in India when compared to China and European countries. “We are going to bring in a policy to promote use of alternative fuel which is indigenous and pollution free as it will help in saving lot of time, bring down logistics cost by 4-6% which is currently about 14-18% unlike in China where it is 10-12% and in European countries where it is 12-14%,” Gadkari said, while inaugurating an event organized by ASSOCHAM in New Delhi. The minister ...
India imposes definitive ADD on imports of automobile aluminium radiators from China
The Dollar Business Bureau India has imposed a definitive anti-dumping duty of $22.89 on the imports of Aluminium Radiators, Aluminium Radiator Sub-Assemblies and Aluminium Radiator Core, including in complete knocked down (CKD) or semi-knocked-down (SKD) conditions, for use in used/on road vehicles and generator sets, from China. A notification NO.20/2017-CUSTOMS (ADD) to this effect was released by the DGAD on May 12, 2017. Citing material injury to the domestic industry as a result of the dumping of the goods below the normal value, the DGAD has imposed an anti-dumping duty of $22.89 on Aluminium Radiators, Aluminium Radiator Sub-Assemblies and Aluminium Radiator Core goods for a period of five years. The products specified in the description of the notification are generally used in ...
Germany boasts robust trade and industrial growth in Feb 2017
The Dollar Business Bureau The automobile and production hub of Europe, Germany, boasted a 2.2% growth in economic output in the month of February, 2017. Underpinned by an increased domestic and global demand for machinery and automobiles, Germany's exports rose by 0.85, while imports declined by 1.6% - the result being a swelled trade surplus of 21.0 billion euros, up from 18.9 billion euros in the month of January. This was a robust start of the year for Germany, indicating that the economic ramifications of the 2008 financial crisis have been left far behind. Meanwhile, the industrial output of UK showed signs of slowing, as the uncertainty around Brexit catches up with its economy. The strong economic growth in Germany will give added thrust to Chancellor ...
Auto industry to grow by 22% after roll out of vehicle scrappage policy
Deepak Kumar The Indian automobile sector is expected to grow by 22% once the vehicle scrappage policy is fully implemented, Road, Transport and Highway Minister Nitin Gadkari said on Tuesday. “We will bring an elaborate scrappage policy. In the first phase, 15-year-old commercial vehicles will be eligible for scrapping. These vehicles account for 65% of the pollution,” Gadkari said at the Society of Indian Automobile Manufacturers (SIAM) annual session in New Delhi. Stressing the point he said the Road and Transport Ministry has already made a presentation to the Ministry of Finance three days ago but underscored that the policy will be incorporated in a sequential manner, according to which commercial vehicles over 15 years old will be scrapped. The policy is aimed ...
Usage of steel should be promoted by cos: Steel Minister
The Dollar Business Bureau Chaudhary Birendra Singh, Steel Minister asked steel producers to find ways to ensure increased consumption of steel in the country. A statement released by SAIL at a customer meet in Jind (Haryana) on behalf of the minister said, “Domestic steel producers should take all steps to promote use of steel at the earliest as time is of essence in the fast changing business scenario.” The meet at Jind was organised to boost steel consumption in Haryana, by state-run steelmakers SAIL and RINL. Suggesting that the two Indian steel giants should quickly stabilise their modernised facilities and ensure that their performance is maximised to strengthen the domestic sector, the minister said, “Domestic steel industry should exhibit a sense of ...
Rs.4.6-lakh cr investment likely in Maharashtra in 'Make in India' week
The Maharashtra government will set up a separate pavilion to showcase 'Magnetic Maharashtra', where meetings will be held with investors Source: PTI Maharashtra expects huge investment in sectors like automobile, electronics, ports and textile. Maharashtra expects an investment of Rs.4.6 lakh crore across sectors like ports, industries and textiles during the 'Make in India' week starting on Saturday. The summit will be inaugurated by Prime Minister Narendra Modi on Saturday. The state government will set up a separate pavilion to showcase 'Magnetic Maharashtra', where meetings will be held with investors. An official from the Chief Minister’s Office claimed the government expects an investment of at least Rs.4.6 lakh crore as the state industries department is doing “sincere hard work to bring ...
Ashok Leyland to export vehicles worth $200 million to Ivory Coast
The Dollar Business Bureau The vehicles, which include trucks and buses, will be delivered over the next 12 months, Ashok Leyland said India-based commercial vehicle maker Ashok Leyland will export 3,600 buses and trucks worth $200 million to Cote D’Ivore in the next one year. Ashok Leyland on Thursday said that it has signed a contract with the government of the West African country for the supply of 3,600 vehicles. “The contract is being funded by Exim Bank of India and is pending final clearance from respective governments,” the automobile major said in a statement. The vehicles, which include trucks and buses, will be delivered over the next 12 months, the company said. “I am proud that the government of Cote D’Ivoire ...
