Search Result for : India Export

By Ranjeet Mahtani, Suhasini Joshi & Darshan Bora Globally, export control regimes are designed to control the export of dual-use goods and technologies which can be used in both - civilian as well as military applications. Among other things, export control regulations involve subjecting exports of specified items to prior authorization / licensing. The objective is to prevent illegitimate trade in such dual-use items and control the export of products to countries that are considered as a national threat. Recent overhaul of Indian SCOMET list The Indian Export Control regulations have been significantly overhauled by the Directorate General of Foreign Trade (DGFT) with effect from May 1, 2017. The amendments seek to revise the Special Chemical, Organisms, Materials, Equipment and Technologies category (SCOMET) ...

The Dollar Business Bureau The government has announced it will soon set up mini drug-testing laboratories at ports and airports to check quality and authenticity of imported drugs. The Health and Family Welfare Ministry has given nod to setting up mini-labs at ports and airports to monitor drugs that are imported into the country. Minister of State for Civil Aviation Jayant Sinha said in a written reply to the Lok Sabha that the decision has been taken to prevent illegal and substandard drug and strengthen the country’s drug regulatory structures. "Necessary sanction has been issued by the Ministry of Health and Family Welfare to set up these labs," Sinha said. He was responding to a question on whether the government would set up six small ...

The Dollar Business Bureau  Lauding Gems and Jewellery Export Promotion Council of India (GJEPC) for playing a pivotal role in making India a global hub for diamond cutting and polishing, Prime Minister Narendra Modi on Sunday said that India’s giant stride in gems and jewellery exports could complement its potential to emerge as an international diamond trading hub. Addressing the International Diamond Conference in Mumbai, Modi said, “India has made rapid strides since the GJEPC was set up 50 years back. India is now the world's largest manufacturer of cut and polished diamonds, and gems and jewellery sector is one of the leading sectors in the country in terms of the value of exports as well as employment generation.” India’s diamond manufacturing and ...

The Dollar Business Bureau Ruling out the earlier predictions that the states’ service sector will generate more revenue after the Goods and Service Tax (GST) is rolled out, Gulati Institute of Finance and Taxation (GIFT) said this could be a wild dream to chase. According to GIFT associate professor Jose Sebastian, the study undertaken by states highlight that states were responsible for only 1.30% of central service tax collection in 2012-13. The state’s service sector is dominated by small-scale businessmen, who fall below the proposed GST threshold of Rs.10 lakh. "What matters is not the size of the service sector per se, but the presence of taxable services and the size of service providers," Sebastian said while presenting his research paper at the ...

The Dollar Business Bureau The consumer products division of Piramal Enterprises has acquired four brands from Pfizer for Rs.110 crore, namely Ferradol, Neko, Sloan’s and Waterbury’s Compound. The agreement contains the trademark rights for Ferradol and Waterbury’s Compound in Bangladesh and Sri Lanka, the company said in a statement on Friday. The finalisation of the deal is subjected to approval from regulatory authority. Nandini Piramal, Executive Director, Piramal Enterprises said, “Our main aim is to become a prominent player in every business under the healthcare segment of Piramal Enterprises Ltd. “Piramal is one of the largest companies in custom manufacturing and has manufacturing units in Asia, European Union and North America. Our Critical Care vertical is the third largest in ...

The Dollar Business Bureau   General Motors India is planning to double is exports to touch 50,000 units this year from 21,000 units last year. With a capacity of 1.3 lakh vehicles, its Talegaon facility in Maharashtra will become its export hub in India. More than 30% of the manufactured units from here will be exported to the other countries. It has launched the first left-hand drive Chevrolet Beat for export to Argentina on Monday. GM India has first exported its cars from India to Chile in September 2014. It has dispatched 3,000 Chevrolet Beat cars to Mexico in October 2015. The left-hand drive Chevrolet Beat is also exported to Chile, Peru, Uruguay and Central American and Caribbean Countries (CAC). Now Argentina has ...

The Dollar Business bureau The board of Tata Steel Europe on Monday announced that seven buyers have shown interest to acquire Tata Steel UK’s assets. All the dealers have been immediately taken forward to the next step of the sale process. The company had said that the main intention of Tata Steel Europe is to evaluate expressions of interest for the entire UK business of Tata Steel, and not in parts alone. On this basis, the received expressions of interest from seven bidders have been immediately taken forward. However, expressions of interest for part bidding of business have been put on hold at this point. Tata Steel Europe is making its intentions clear to other parties who have submitted an expression ...

The Dollar Business Bureau Due to weak global demand and high diamond prices, the gems and jewellery exports fell by 5.30 percent in the financial year 2015-16. According to the data from Gem Jewellery Export Promotion Council (GJEPC), gems and jewellery exports stood at Rs 22.13 lakh crore for the financial year 2014-15. However, for the current financial year 2015-16, exports of the same stood at Rs 2.09 lakh crore. GJEPC chairman Praveenshankar Pandya said that the fall in exports is because of the slow-down in global markets like Europe, Japan and China. He also pointed out that surging prices and falling demand have resulted in the piling up of inventories. A 10 percent rise is expected in the future of jewellery, polished and ...