Search Result for : Cheaper Imports

By Abin Daya The Government is working to improve the ‘ease of doing business’ ranking of the country, and one of the areas of focus is the time it takes for manufacturers to get their imported raw materials and components, out of the port and into their factories. The numbers are not very encouraging, and it currently takes about 9-10 days to get a container out of the port and on its way to the manufacturer. With a view to improving this, the Direct Port Delivery arrangement was started in 2016. How is it faring? Please read on in this week’s update. The most important story of this week, definitely, is the 25 bps cut that the Monetary Policy Committee permitted on ...

The Dollar Business Bureau  The Customs is intending to impose anti-dumping duty on the imports of clear float glass of nominal thickness ranging from 4mm to 12 mm (both inclusive), from Pakistan (producer M/s Tariq Glass Industries), UAE and Saudi Arabia. The countries have been put under review by the Ministry of Finance as they have been dumping the clear float glass at cheaper rates causing injury to the domestic players. The DGAD  has recommended the imposition of anti-dumping duty of $23.54 per metric tonne, on the clear float glass exports, produced by M/s Tariq Glass Industries of Pakistan.  Recently, the DGAD had imposed a definitive anti-dumping duty on clear glass imports from Iran, ranging from nil to $55.59 per tonne for five ...

The Dollar Business Bureau  As the world powers gathered in Brussels to discuss the humongous ‘overcapacity problem’ particularly between two global giants US and China, there was a startling revelation that hitherto dead steel mills in China have started producing again. And that spurned the steel prices to rise globally. All along China claimed to be committed to a market-based economy while its zombie-factories ramped up a record breaking production of 70.65 million tonnes in March. This is advantageous to the Chinese as they can easily bypass the issue of loss-making from non-existent mills! While EU, US, WTO and other major international trade organizations have been haranguing whether measures could be taken against such ‘dumping’, India in a bid to save its ...

Source: PTI Home, auto and other loans are set to become cheaper with Reserve Bank of India on Tuesday reducing the short-term lending rate by 0.25 per cent to over 5-year low of 6.5 per cent, taking the total cut to 1.5 per cent since January last year. Unveiling the first bi-monthly monetary policy for the current fiscal, RBI Governor Raghuram Rajan said banks have already cut interest rates by 0.25-0.5 per cent and after Tuesday's rate cut, borrowings will become cheaper. "Borrowing is cheaper...and will continue to do so," the Governor said, adding that the introduction of marginal cost of funds-based lending rate (MCLR) system will improve monetary policy transmission. The Reserve Bank has effected a rate cut after a gap of 6 ...

Sai Nikesh | The Dollar Business The tyre dealers and manufacturers are at loggerheads over the imports of truck and bus tyres into the country. The tyre dealers have opposed demand raised by the manufacturers to restrict imports of  the radial tyres. The All India Tyre Dealers’ Federation (AITDF) has reportedly written a letter to the Commerce Ministry, saying that the import will give impetus to the use of high-capacity radial tyres in India and ultimately reduce the freight charges of transporters. The AITDF is reported to have said that radialisation for truck and bus tyres in India cannot be left to the domestic tyre manufacturers ‘who believe in curbing free and fair play of market forces’. The tyre manufacturers have claimed that the ...