Gujarat exports raw material dyes to China
The Dollar Business Bureau Gujarat’s dyes and intermediates industry is getting benefitted due to the Chinese government's crackdown on its chemical manufacturers. Earlier, vinyl sulphone which is the main intermediate in dye-manufacturing was regularly imported from China. But now, chemical companies from Gujarat are exporting vinyl sulphone to China in huge quantities. According to the new President of Gujarat Dyestuff Manufacturers' Association (GDMA) Bhupendra Patel, chemical companies from the state have exported over 1,000 tonnes of vinyl sulphone to China in the previous year. India has exported such a huge quantity of this chemical for the first time to its competitor in the chemical sector, he said. Currently, there is limited availability of vinyl sulphone in China as a large chemical manufacturing plant ...
IMF says Brexit will hit global economic growth
The Dollar Business Bureau “Brexit has thrown a spanner in the works,” said Maurice Obstfeld, chief economist, IMF. The decision by Britain to leave the EU group will affect global economic growth this year and the next, International Monetary Fund said. The IMF on Tuesday shared its earlier estimate for the global economic growth to 3.1% this year and 3.4% in 2017. The recent estimates are 0.1% lower than the institution’s April forecast. The IMF said Brexit has created uncertainty which could wear away consumer and business confidence, resulting in freeze in investments. The UK must renegotiate its existing trade arrangements with Europe. United States and China, the world's two largest economies, are unlikely to experience much economic trouble from the turmoil in Europe, it said. The ...
China to invest $725 bn in transportation projects
The Dollar Business Bureau China will invest 4 trillion yuan (around $725 billion) to improve its rural transportation projects. The country will spend this huge amount on 300 new projects that will offer good transportation facilities to remote areas where more than 70 million poor people reside. This is a part of the three-year plan of the country to remove poverty by 2020, as reported by China Radio International. Zheng Jian with the National Development and Reform Commission said that the country has planned such a huge spending plan with an aim to bring all the people in China above the poverty line by 2020. Access to good transportation is an essential factor that helps people in coming out of poverty. Therefore, ...
China expresses interest in Make in India campaign
Several Chinese investors are showing keen interest to invest in India as an attractive investment destination for its companies The Dollar Business Bureau China will broadly focus on the Make in India and Make in Maharashtra campaigns to further its cause With the ongoing Make in India campaign, several delegations from the neighbouring countries are a part of the summit. China is also showing a keen interest in the Make in India campaign as India has made tremendous progress in terms of its services. India is progressively improving its services for Chinese investors, like fast license approval, ease of obtaining work permits and business visas. According to the Zheng Xiyuan, the Chinese Consul General, China and India have become the two strongest driving forces ...
