Search Result for : Bangladesh

The Dollar Business Bureau As India’s sugar output is estimated to be at record level in the 2018-19 marketing year, expected to result in a surplus, industry body Indian Sugar Mills Association (ISMA) on Thursday requested the Government to seek preferential import duty structure from Sri Lanka and Bangladesh. “India’s sugar production may exceed in 2018-19 marketing year than 251 lakh tonnes estimated for the current year. So we may have surplus sugar for exports in 2018-19,” said Abinash Verma, Director General, ISMA, while speaking at the industry body’s 83rd annual general meeting.  Bangladesh and Sri Lanka, the two major sugar importers, levy high import duty at $150 per tonne and $100 per tonne on sugar, respectively. The two Asian neighbours procure around ...

The Dollar Business Bureau Confederation of Indian Textile Industry (CITI), an apex textile industry body, on Monday called for imposing protection measures in order to prevent the routing of cheap fabrics from countries such as China through Sri Lanka and Bangladesh, where India has free trade agreements. The garment industry in India will face tough competition from countries like Bangladesh as the garments imported from these countries are cheaper as the production cost is quite low compared to India, CITI said in a statement. As per the recent data released by the Export Promotion Bureau of Bangladesh, India’s garments import from Bangladesh has touched $87.4 million during the period July to November this year, witnessing a steep rise of 56% compared to $55.92 ...

The Dollar Business Bureau  Federation of Indian Export Organisation (FIEO) on Friday said that the continuous growth in exports gives confidence to the exporters in India on easy sailing with GST. The new regime of Goods and Services Tax (GST), which will subsume most of the indirect taxes, is expected to be rolled out from July 1, 2017. “The exports data for the month of May, 2017 showed yet another consecutive and positive growth depicting the strength and competitiveness of Indian industry,” said Dr A Sakthivel Regional Chairman FIEO Southern Region. India’s exports have surged 8.32% to $24 billion in the month of May, keeping the growth trajectory for straight eight months, according to the latest data released by the Ministry of Commerce. Dr Sakthivel ...

The Dollar Business Bureau Jayant Sinha, the Union minister for Civil Aviation proposed the Ude Desh ka Aam Nagrik (UDAN) scheme that would connect the smaller towns across the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region. Adding that such a move will be similar on the lines of the Open Sky Agreement that India enjoys with the SAARC countries, he said, "We can sign an MoU with different countries to be able to provide support for an UDAN-type scheme across the BIMSTEC community. Of course, we will have to couple that with something like an Open Sky Agreement so that airlines can fly freely," Sinha told reporters. Under the Open Sky Agreement (OSA), signed in 2016, New ...

The  Dollar Business Bureau As part of the Framework of Understanding (FoU) on Cooperation in the Hydrocarbon Sector with Bangladesh, India is going to build two pipelines for diesel and natural gas between the two countries. The FoU was approved by the Cabinet soon after the recent visit of Bangladeshi Prime Minister Sheikh Hasina. The said FoU is non-binding in nature and expires after five years. With an objective of strengthening energy ties with its neighbours to enhance regional energy security, India will build a 131 km pipeline for diesel transportation from Siliguri in West Bengal to Parbatipur in Bangladesh. Another pipeline for natural gas will be laid from Dattapulia in West Bengal to Khulna in Bangladesh. The 'Friendship pipeline' which will offer a logistical alternative to rail transportation of diesel, will be entirely financed by India. The ...

The Dollar Business Bureau India is ready to make an investment of $10 billion in Bangladesh for the development of its sectors such as infrastructure, power and energy, logistics, education, medical, rail, road and waterways and medicine, said Bangladesh Prime Minister Sheikh Hasina after returning from a four-day tour visit to India.   The PM also informed that Indian government will be extending a loan of $5 billion, out of which $500 million will be used for consolidating the Bangladesh military. The monetary assistance will be specifically used for training the military personnel to ensure peace in border areas, and joint patrols and drills in international sea areas. The amount will also be invested in purchasing military equipment. "The offers of investment and ...

The Dollar Business Bureau The South Asia Subregional Economic Cooperation (SASEC) family congregated in New Delhi on April 3, 2017, to deliberate upon a new direction for sub-regional economic cooperation among the member countries. During the meet, the finance ministers collectively agreed that enhanced regional cooperation could add $70 billion to their combined GDP and generate 20 million employment opportunities annually by 2025. The SASEC initiative was founded in 2001, with India, Nepal, Bhutan and Bangladesh as member nations. Over the years, the regional group has grown to include Sri Lanka, Maldives and Myanmar. A joint ministerial statement released after the summit recognised the importance of regional co-operation to boost economic growth in South-Asia, especially in times of slow global growth. Additionally, it also reviewed the progress of SASEC over the past 16 ...

The Dollar Business Bureau  India and Bangladesh, as part of a regional cooperation initiative, signed a MoU on Aids to Navigation (AtoN). Under the agreement, India will advise Bangladesh on AtoN capacity building for the overall marine navigation development of the South Asian region.  International Maritime Organisation (IMO) requires nations all over the world to provide AtoN in their waters as per international norms and guidelines for the effective and safe navigation of vessel traffic. Lighthouses, DGPS, beacons, navigational and mooring buoys are some of the main instruments deployed for navigation in the sea. Directorate General of Lighthouses & Lightships (DGLL) is the authority in India responsible for management and setting up of AtoN in India's oceanic territory.  According to the MoU, DGLL will organise training programs for the AtoN management and technical personnel of Bangladesh.  On the behalf of Indian Ministry of Shipping, ...