A new agricultural exports policy is required: Suresh Prabhu
The Dollar Business Bureau Commerce and Industry Minister Suresh Prabhu said on Monday that India needs a new agricultural exports policy focussing on enhancing the exports of agricultural products from the country and to increase the incomes of the farmers. “A new agricultural exports policy is required that lays focus on increasing exports of value-added agricultural products so that farmers can access international markets and increase their income,” Prabhu said while speaking at the 3rd meeting of Council of Trade Development and Promotion in New Delhi. Prabhu further emphasised on the participation of states to explore ways for tapping into global trade, which is pegged at around $5 trillion, by promoting exports of services, value addition to agricultural products, organic farming, utilisation of the ...
'Foreign Trade Policy review by July 1 GST rollout'
The Dollar Business Bureau The Commerce Ministry will finish the mid-term review of Foreign Trade Policy (FTP) earlier than expected so that it would coincide with the rollout of Goods and Services Tax (GST) on July 1, said a senior official on Tuesday, while adding that exporters have asked for policy incentives to boost exports. “The objective of the meeting was to seek inputs for the review of FTP to coincide with the launch of GST. Exports have made a revival and they need support so that it continues to grow,” Commerce Secretary Rita Teaotia told reporters on the sidelines of Board of Trade meeting. The second reconstituted Board of Trade meeting was chaired by Commerce and Industry Minister Nirmala Sitharaman. Besides, officials from Revenue and ...
After ban on trade of cattle for slaughter, Ministry to announce Rs 4000 cr package for the leather industry
Sheela Mamidenna With the Central government announcing curbs on cattle slaughter on May 26, the leather exports industry seems to be bracing itself for a rapid downward spiral. Though there seems to be a lot of misinterpretation on the latest notification, till the Government comes up with a plausible explanation, the Indian leather industry and its buyers are left frazzled. According to media reports, major international fashion houses have started enquiring from their suppliers whether they would be able to meet their commitments. Meanwhile, the Commerce and Industries Ministry has suggested a proposal to the Finance Ministry asking for a Rs 4,000-crore package, which includes both tax and non-tax benefits similar to the one announced for the textiles sector last year. According to officials ...
DIPP to suggest states to frame own IPR policy
The Dollar Business Bureau The Commerce and Industry Ministry wants states to come up with their own IPR policies in order to promote innovation and give a boost to the economy. The Union Ministry wants the States to help in creating awareness and enhance the new IPR policy. The CIM had convened a meeting with industry associations on Tuesday seeking their views and suggestions on the National IPR Policy. A CIM official remarked that a good suggestion was made during the interactive session, which would be shared with the States so that they come up with their own IPR policy kind of document. "We will suggest state governments to consider this and prepare their own IPR policy kind of document," the official said. The ...
Around 4,927 tonnes of Arhar dal imported through MMTC
For the last two yearsthere was no import trading of pulses and 4927 tonnes ofarhar dal was imported through MMTC.MMTC has not received any complaint with regard tothe quality of dal The Dollar Business Bureau Total quantity of arhar dal of around 4927 tonnes has been imported via MMTC. Commerce and Industry Minister Nirmala Sitharaman recently informed the Parliament about theimport of around 4,927 tonnes of arhar dal through MMTC.Further,Sitharaman informed the lawmakers thatthistime,MMTC did not receive any qualityrelated complaint of Arhar dal. Nirmala Sitharaman was giving a reply toa paper in the Rajya Sabha. She further mentionedthat,last two years during 2013-14 and 2014-15 we havent seen any import trading of pulses; whichmeans the government has not imported pulses during these years. In 2015, ...
Make in India Week to position India as investment, manufacturing hub
Prime Minister Narendra Modi will inaugurate the event which will be attended by business delegations from 68 countries. The Dollar Business Bureau Some of the key government delegations would include Prime Minister led delegations from Finland, Sweden and Lithuania and Deputy Prime Minister led delegation from Poland.The Make in India Week, which is expected to host business delegations and representatives from more than 60 countries, will position India as the hub of investment, innovation and manufacturing, Commerce and Industry Minister Nirmala Sitharaman has said. The government has incessantly pushed policy measures to boost manufacturing and today FDI in India is growing at 48% while globally there is a sharp fall. The global business community has responded enthusiastically to Indian economy's revivalist fervour ...
In-principle approval given for NIMZ in Telangana
Source: PTI The government has given in-principal approval to set up a national investment and manufacturing zone (NIMZ) in Telengana. It has the potential to create direct employment for 75,000 people and indirect for 1,50,000 persons, Commerce and Industry Minister Nirmala Sitharaman has said in her tweets. “In-principle approval given for NIMZ in Districts: Ranga Reddy and Mehbubnagar, Telangana. “Have the potential to create direct employment for 75,000 & indirect for 1,50,000 persons. They shall have a pharmaceutical industry focus,” she said. NIMZs are mega industrial zones with world class supporting infrastructure. The National Manufacturing Policy provides for NIMZs -- mega industrial zones with world class infrastructure. The government is offering a host of incentives like exemption from capital gains tax ...
TPP not a threat to Indias foreign trade: Commerce Minister
The Dollar Business Bureau Seeking to allay apprehensions over the impact of TPP (Trans-Pacific Partnership) agreement on India’s foreign trade, Commerce and Industry Minister Nirmala Sitharaman said the government has taken all “necessary steps” to tackle the “emerging new trade architecture”. “There is nothing to worry about the adverse impact of TPP on India. We have taken necessary steps to boost India’s trade and investment in the wake of emerging new trade architecture”, said Sitharaman while addressing the CII Partnership Summit in Vishakhapatnam, Andhra Pradesh, on Monday. The US-led trade agreement involving 12 Pacific Rim countries which was signed in October last year seeks to allow preferential trade of goods and services between the member countries. Countries engaged in TPP ...
