Search Result for : India Import

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  Donald Trump has made it amply clear that the landmark Iran nuclear deal negotiated by former President Barrack Obama is a 'bad deal'. Recent test-firing of ballistic missiles by Iran lead to a bitter feud between the two countries, ending in sanctions being imposed on companies and individuals related to missile programs in Iran.  Lack of clarity in Trump's future strategy for Iran has left traders in the middle-eastern country, along with their close trading partners in a limbo. India, one of Iran's closest trading partners, ranks second among its export destinations (after China) and fourth among its major importers (after China, South Korea and Turkey). In fact, oil embargoes on Iran proved to be a blessing in disguise for Iran-India trade, as total ...

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 ...

Sairaj Iyer Kabali should definitely impact Salman starrer Sultan's performance at the box, but on the other hand, the Rajni starrer ideally will vie for a slot at the top ten grossing films in the all-languages category. The top ten highest grossing movies begins with the Aamir Khan’s starrer PK which grossed at $120 mn*, and the lowest being SRK starrer Happy New Year that grossed $57 mn*. This list also includes Sultan, which is now ranked at 5th, running at $75mn*. The target could hence be a mean average of the top ten- 523 cr or $78 mn*. This number represents box office collections, and no other income such as satellite rights and endorsements. Media reports in 2010 showcased a virtual tug between ...

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 China’s import to India has jumped six folds from $10.87 billion in 2005-06 to $61.71 billion in 2015-16. In a written reply to Rajya Sabha, Nirmala Sitharaman said that the increasing imports can be mainly attributed to the fact that China is able to provide manufactured items to India at competitive prices due to many reasons. She said that imports from China to India increased to $61.71 billion in 2015-16 from $10.87 billion in 2005-06. The imports from China in 2014-15 were $60.4 billion and during 2013-14 were $51 billion. A majority of the products that are imported from China include drug intermediates, computer hardware, electrical machinery, consumer electronics, steel and iron. Sitharaman added that the imports from China cater to the ...