Search Result for : Competitiveness

The Ministry had recently launched a new scheme of ASPIRE to set up a network of technology and incubation centre to accelerate entrepreneurship and start ups for innovation Source: PTI An amount of Rs.6 crore to be provided by the Ministry to Nagaland for setting up of Khadi Plaza   The Ministry of Micro Small and Medium Enterprises (MSME) will help the state in its efforts towards encouraging entrepreneurship and enhancing competitiveness of the sector in the changed economic scenario, Union Minister Kalraj Mishra said on Friday. The minister who was inDimapur to inaugurate the North East Region conclave on MSMEs said the conclave would help in evaluating the performance of schemes as implemented by the Ministry as well as to interact with the ...

The Dollar Business Bureau Foreign Direct Investment in India went up by 6.5% to $2.5 billion in June this year as compared to the same period last year when the FDI inflow into the country was $1.92 billion. However, the June figures were lower than the previous two months this year. India had received $3.60 billion and $3.85 billion FDI in April and May respectively.  According to the Department of Industrial Policy and Promotion (DIPP), the FDI inflow into the country during the April-June period this year stood at $9.50 billion, up by 31% as compared to $7.23 billion during the same period last year. During the period, Singapore was the largest source of FDI contributing $3.67 billion, followed by Mauritius, Netherlands and the US ...

Source: PTI The government is working on a multi-pronged strategy to enhance exports competitiveness and address infrastructural bottleneck, a top Commerce Ministry official said. Contracting for the eighth month in a row, India's exports slipped 10.3% in July to $23.13 billion, hit by global slowdown and a dip in crude oil prices, which in turn impacted the value of petroleum products. Commerce Secretary Rita Teaotia said the ministry is focusing on export sectors with a huge potential such as pharmaceuticals, ready-made garments, leather, gems and jewellery, chemicals and agro-chemicals. Trade facilitation, she felt, can play a vital role in boosting competitiveness of domestic exports. "In trade facilitation, we are dividing our approach into two pieces -- short term steps which we can ...

The Dollar Business Bureau Mining firm Vedanta on Monday resumed operation in the iron ore mines of Goa after getting approvals to extract 5.5 million tonnes of minerals. The mining operation had been stalled in the state since 2012. “The company has received the relevant consent, licence and approvals in place to commence the iron-ore mining operations in the state of Goa for some of its leases. The company is likely to recommence operations from August 10, 2015 at its biggest mine at Codli in Sanguem taluka in Goa,” Vedanta said in a statement. The Supreme Court in October 2012 had banned mining activities in Goa in response to a petition over alleged irregularity. In April last year, the apex court allowed ...

Himanshu Vatsa | The Dollar Business Even though the government seems to be determined for implementing Goods and Services Tax (GST) regime from April next year, experts say that the new norms lack clarity on many issues including the basic definition of goods and services. The GST Bill, which seeks to replace all indirect taxes levied by the Centre and state governments, has already been cleared by the Lok Sabha. The bill is expected to come for discussion in the Rajya Sabha during this monsoon session beginning July 21. The proposed legislation faces opposition from Congress and other political parties. And, analysts say that the ruling BJP has to do a lot of hard work to get the nod from the ...

Himanshu Vatsa | The Dollar Business The government is working on a strategy to improve India’s agricultural exports which have seen sharp fall in the past one year. Agricultural exports contribute more than 10% of the country’s total export. But the government data says that the annual exports of six key agricultural items saw negative growth during the last financial year. Among the six major items, the export of oil meals reduced to $1.32 billion, more than 52% lower than that of previous year. The annual export value of cereals fell by 27% while the shipment of tea, fruits and vegetables declined by around 16% and 9% respectively. Besides, export of tobacco and spices also decreased last year. Now, the government ...

 The Dollar Business Bureau India needs to have a long-term strategy to ensure the growth of the defence industry involving private players as production partners, said former president and scientist APJ Abdul Kalam. Kalam, who has spent decades with the Defence Research and Development Organisation (DRDO) and Indian Spare Research Organisation (ISRO), said that regulations and control procedures should be implemented in managing private industries for manufacturing of defence systems. “Encouraging high-technology tie-ups and joint ventures between Indian and other global defence industries will achieve not only competitiveness but also envisage the product for export. India cannot afford to lose any more time in pondering the issue,” he said. Kalam also insisted for the setting up of a national-level ...

The Dollar Business Bureau | @TheDollarBiz Arun Jaitley, Finance Minister, Government of India, speaking at the event (Pic source - WEF India Summit 2014)   The Indian government has urged the WTO to allow the peace clause on Public Food Stockholding to continue until a permanent solution is found to help build a consensus on the adoption of the Trade Facilitation Agreement (TFA). Speaking at the 29th India Economic Summit held by the World Economic Forum (WEF) in partnership with the Confederation of Indian Industry (CII), in New Delhi today, Arun Jaitley, Finance Minister, Government of India, said that India supports TFA, but has concerns over food security. Jaitley said, “There is no ideological opposition on this issue. Even without a commitment to ...