Search Result for : Domestic Manufacturing

The Dollar Business Bureau In another executive order signed by Donald Trump, the Department of Commerce and the Office of  USTR (US Trade Representative) have been asked to submit, within 90 days, a comprehensive report on the causes of USA's $700 billion trade deficit. Commerce Secretary, Wilbur Ross, is to lead the said investigation of unfair trade practices hurting the US economy. Threatening countries which get away with violating import duties, Trump asserted that a detailed investigation of trade abuses will be done, following which stringent laws will be put in place to prevent them. The move comes immediately before the first diplomatic meeting between Trump and China's President Xi Jinping, scheduled for next week. Although the bill doesn't target any specific country, China has been ...

The Dollar Business Bureau India has started a probe against the dumping from China for a chemical that is used in glass and other sectors to safeguard the domestic manufacturers from cheap imports. The Directorate of Anti-Dumping & Allied Duties (DGAD) has found enough evidence of dumping from China for the chemical. “The authority hereby initiates an investigation into the alleged dumping, and consequent injury to the domestic industry,” it said in a notification. The DGAD, in its probe, will determine the degree, existence and effect of the alleged dumping of the chemical and after that recommend the quantum of the duty to be levied, which would be sufficient to remove the injury caused to the local industry. The investigation period is 15 months, i.e. ...

In the recently-concluded Union Budget 2016, the Finance Ministry had announced that there will be a 12.5% excise duty on imports of these components while the domestic manufacturer will incur a 2% charge The Dollar Business Bureau US-based tech giant Apple has sought approvals from the Indian government to import and sell pre-owned iPhones in India. An application from Apple regarding import of certified pre-owned iPhones for sale in India and manufacturing certified pre-owned iPhones for sale in India has been received in the Ministry of Environment and Forests, Telecom Minister Ravi Shankar Prasad said in a reply to Rajya Sabha. The announcement came in the backdrop of the governments decision to impose an excise duty on domestically-manufactured as well as imported mobile components ...

The industry has also demanded a hike in the import duty on palm oil to 45% from the current 12.5% and sought for a budget of Rs. 10,000 crore for the sector The Dollar Business Bureau Ahead of the Budget for the coming financial year, the palm oil industry has asked the government to formulate a separate import policy to ensure a level-playing field for domestic palm growers and oil producers who have been battling cheap imports of edible oil triggered by the global demand slump. “There is a need for a separate palm oil import policy. This will ensure that import duty of palm oil can be increased to a level sustainable to the farmer/ industry. This will ...

The Dollar Business Bureau To encourage domestic manufacturing and boost ‘make in India’ initiative, the government must increase import duty on LED (Light Emitting Diode) bulbs and other products, a parliamentary panel has suggested. A report on energy conservation presented by the Parliamentary Standing Committee on power said that the government should take immediate steps to disincentivize the import of finished LED products. “Customs duty and countervailing duty (CVD) on LED lamps and its components should be levied in such a manner that it encourages local production,” the panel said in its report tabled in parliament on Tuesday. At present, the duty on finished LED products is less than that on the import of raw components. And this affects the ...