Search Result for : Commodities

The Dollar Business Bureau Terming the rollout of GST as an important achievement, Asian Development Bank President, Takehiko Nakao, who was on a 3-day visit to India termed the roll-out of the GST as an important achievement for this government. But added that this achievement is not without its flaws. He was appreciative of the government’s determination to push forward with reforms, but wanted the government to put more energy into ‘labour’, ‘land acquisition laws’ and FDI so that Indian economy can grow faster than that of China’s.  Speaking to the media about his views on the rollout of the GST he said, ‘it is difficult to gauge the impact of GST on the economy until it is implemented but the best thing ...

The Dollar Business Bureau Credit rating agency S&P Global Ratings on Wednesday lowered the credit rating of Qatar by one level to AA- and put the country on a watch on concerns of further downgrading after four Gulf Arab nations severed ties with Doha.   “We believe this will exacerbate Qatar's external vulnerabilities and could put pressure on economic growth and fiscal metrics,” S&P Global said.  Saudi Arabia, Bahrain, Egypt and the UAE on Monday announced that they were severing diplomatic relations and closing air, land and sea links with Doha.   Saudi Arabia and its allies alleged that Qatar is providing support to extremist groups and serving the interests of Riyadh’s regional rival Iran, claims which Doha has strongly declined.   “At this ...

The Dollar Business Bureau  Assocham, the industry association has found misinterpretations for e-commerce and commodity derivative exchanges under the current GST law. The association through its spokespersons said, "e-commerce definition, as given in the Goods and Services Tax (GST) dispensation, has been left so wide that it could go well beyond Amazon or Flipkart marketplace platforms and may even cover the commodity exchanges."  It suggested that the scope of electronic-commerce is not limited to providers such as Amazon and Flipkart alone, but also to businesses whereby a supply of goods or services is rendered through a digital or an electronic medium. There is a possibility of commodity exchanges being treated as e-commerce transaction although derivative-trading does not involve any delivery of actual ...

The Dollar Business Bureau India’s exports of various agriculture commodities, including coffee, tea, rice and cashew fell in the month of May in the wake of declining commodity prices globally. Oil meals, cereals, dairy and poultry products also witnessed a negative growth during May. In total, 7 out of 13 key agriculture commodities that are closely watched by the ministry of commerce, were falling. On the other hand, experts from the industry are hopeful that the global prices of commodities would gradually become stable, which in turn, help in boosting exports of agricultural products. Ajay Sahai, DG & CEO, Federation of Indian Export Organisation (FIEO), said, “Prices of agriculture products would start becoming stable. It would help in pushing up agri exports.” ...

The Dollar Business Bureau Central Board of Excise and Customs (CBEC) in association with Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) organised an awareness programme on proposed Goods and Services Tax (GST) Law in Hyderabad on Monday. CBEC Special Secretary and Member Ram Tirath, senior officers of CBEC, Commercial Tax Department, and FTAPCCI members have shared their knowledge and clarified certain apprehensions of the trade and industry stake holders about the upcoming GST Law through this programme. Trading community in agri crops and commodities in Telangana and Andhra Pradesh operate through the system of commission agency. The agri commodities are currently taxed under the VAT law only upon sale. But, under Sec 3(2A) of the Model GST Law the transaction ...

India's e-commerce market went up to $23 billion in 2015 from $17 billion in 2014 and it is expected to touch $38 billion by 2016, says ASSOCHAM The Dollar Business Bureau In 2015, 78% of shopping queries were made through mobile devices, compared to 46% in 2013   Indian e-commerce market is likely to grow by 67% in 2016 to reach $38 billion from the current level of $23 billion, a study has said. Increasing internet and mobile penetration, growing acceptability of online payments and favourable demographics have provided Indian e-commerce players the unique opportunity to connect with their customers, said the study conducted by the Associated Chamber of Commerce and Industry (ASSOCHAM). With buying trends witnessing a significant upward movement in 2015 due to ...

 The Dollar Business Bureau The annual rate of inflation based on the wholesale price index (WPI) for October has reduced to -3.81% as against -4.54% recorded in September and 1.66% during the same month of last fiscal, according to the government data released on Monday. “The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) for the month of October, 2015 rose by 0.1% to 176.7 (provisional) from 176.6 (provisional) for the previous month,” the government said in a statement. The wholesale price index has been witnessing downfall for the past 12 months in the wake of the slowdown in commodity prices in the international market. So far, the build-up inflation rate in the current financial year has been ...

Source: PTI As high prices of pulses continue to hurt consumers, Finance Minister Arun Jaitley on Tuesday said the rates will come down soon in view of good harvest and action taken against hoarders. With government under attack from opposition parties on the issue, Jaitley said that retail inflation has come down to about 4% from 12% since the Congress went out of power last year. He suggested that the prices of pulse grew also because proper action was not taken by states against the hoarders. “The rate of inflation has come down in last one and half year. Prices of many commodities have come down. But there are some products, whose arrival is less in the Indian market as well ...