Search Result for : Goi

The Dollar Business Bureau The government has imposed lot of measures in order to check the steel import and is also in discussion with the industry on alteration and the continuation of MIP on steel products. This year, during the month of February, the government has imposed a minimum import price on 173 steel products ranging between the $341 to $752 per tonne. This has come as a big relief for the domestic companies from the cheap in -bound shipments especially from countries like Korea, China and Japan. Aruna Sundararajan, Steel Secretary said, “People have given us representations, some for addition some for deletion. So we have to examine those.” She also added that, “We have to look for two things. First the merit of the argument ...

The Dollar Business Bureau The government on Monday okayed 15 foreign direct investment proposals, amounting to Rs.7261.60 crore, deferring eight and rejecting ten. “Based on the recommendations of Foreign Investment Promotion Board (FIPB), the government has approved 15 foreign direct investment (FDI) proposals involving FDI of Rs.7261.60 crore and recommended one proposal for approval of CCEA involving FDI of Rs.6885 crore,” Ministry of Finance said on Monday. The maximum approval was sought by Nippon Life Insurance Company – A Japan-based insurance company – to acquire an additional 23% stake in Reliance Life Insurance Company Ltd., thereby raising its shareholding from earlier 26% to 49%, worth Rs.2265.5 crore. Tata AIA Life Insurance Company Ltd. also sought a $2055 crore approval to increase ...

Other issues include promotion of online platform for trading, easing approval mechanisms through creation of paperless and contact-free approval environment for export and import clearances The Dollar Business Bureau The committee includes Director General of Foreign Trade, Chairman of the Central Board of Direct Taxes and representatives from Railway Board, Airport Authority of India and shipping, as its members.   Concerned over the countrys export downtrend, top government officials representing various Ministries are meeting on Tuesday to discuss ways to ease the business environment in the country. According to sources, the high-level meeting chaired by Rita Teaotia, Secretary, Ministry of Commerce, is likely to witness deliberations on issues related to fast-track clearances for traders among other issues related to facilitation of trade. Other issues under ...

Countries like India are majorly Small Medium Enterprises (SME)-driven. So, any trade agreement that the Government of India enters into would definitely be in favour of them, said the Commerce Secretary The Dollar Business Bureau Rita Teaotia (R), Secretary, Ministry of Commerce, Govt. of India, and Arvind Kumar(L), Secretary, Department of Industries & Commerce, Govt. of Telangana, in an interaction with The Dollar Business on Friday   Federation of Indian Exporters Organisations (FIEO), jointly with the State Governments of Telangana and Andhra Pradesh and supported by Trade Promotion Organisations, had organised an interactive session with key officials from the Ministry of Commerce and Government of Telangana, at the reputed Indian School of Business (ISB), in Hyderabad on Friday. After the meeting that focused ...

The Indian government has been working out on the transaction-wise details of imports of 2- EH over the last three years The Dollar Business Bureau 2-Ethyl Hexanol is a colourless liquid used in several products and processes including functional fluid, solvents, process chemical, fragrances and several other chemicals such as plasticisers and emollients.   The government has initiated anti-dumping investigation on imports of 2-Ethyl Hexanol (2-EH) from the US, European Union (EU), China, Saudi Arabia, Taipei, Malaysia and Indonesia. 2-Ethyl Hexanol is a colourless liquid used in several products and processes including functional fluid, solvents, process chemical, fragrances and several other chemicals such as plasticisers and emollients. The decision was taken after The Andhra Petrochemicals Ltd., the only producer of 2-Ethyl Hexanol in India, alleged ...

In January, Oilmeal exports registered a maximum decline at 77.57%, followed by petroleum products at 35.18% and rice at 33.46% The Dollar Business Bureau Imports fell by 11.01% to $28.71 billion in January this year, thereby bridging the trade deficit gap to $7.63 billion   India’s exports slumped for 14th straight month in January as outbound shipments of major commodities contracted by 13.6% to $21.07 billion from $24.93 billion a year ago. Imports fell by 11.01% to $28.71 billion in January this year from $32.26 billion in January 2015, thereby bridging the trade deficit gap to $7.63 billion. “Cumulative value of exports for the period April-January 2015-16 was $217.68 billion as against $264.32 billion, registering a negative growth of 17.65% over ...

The Dollar Business Bureau    Amid the continuous exports slowdown, engineering goods exporters on Friday held a brain-storming session with Commerce Ministry officials and said issues related to product certification and quality standards are major challenges that hamper their competitiveness in the global market. The session, which is seen as a pilot phase of government-industry interaction programme to cover all engineering clusters, was held in Faridabad by the National Accreditation Board for Certification Bodies (NABCB) and the Quality Council of India (QCI) under the aegis of Engineering Export Promotion Council (EEPC) India and the Ministry of Commerce. Speaking at the session, EEPC India Executive Director and Secretary Bhaskar Sarkar said that engineering manufacturer-exporters have to upgrade their standards to the next ...

Sai Nikesh | The Dollar Business In second week of December, the government had reduced MEP on onion from $700 per tonne to $400 per tonne  In view of sharp decline in onion prices and its adequate supply in domestic market, the government has removed Minimum Export Price (MEP) cap of $400 per tonne to encourage overseas shipments. Experts are of the view that the move is unlikely to affect onion prices in domestic markets as its demand in export market might remain low. “Keeping in view of sharp decline in wholesale prices of onion in producing mandies of Maharashtra and major consuming mandies and huge arrivals of onion, the government decided to reduce the MEP to 'zero' from $400 per ...