Search Result for : Indian Government

The Dollar Business Bureau  The Indian government is planning to bring out a set of procedures to begin investigating the imposition of safeguard duty against imports from South Korea. India and South Korea have signed a Comprehensive Economic Partnership Agreement (CEPA) on January 2010 and a subsequent review in the agreement in 2016, brought forth the reduction/elimination of duties on various products.  The move by the government comes in the wake of a surge of gold imports from South Korea which is worrying the domestic producers. The Indian Revenue department has notified the India-Korea Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017, for laying out the procedures for such safeguard investigations. This is necessary as India needs to have separate rules ...

The Dollar Business Bureau The Minister for Shipping and Road Transport & Highways Nitin Gadkari, was on a two day visit to Tehran, representing the Indian Government at the inauguration and oath taking ceremony of Hassan Rouhani as the President of Iran for a second term, on 5th August, 2017.  In an interaction with Rouhani, Gadkari held wide ranging discussions on many issues including India’s cooperation in the development of Chabahar Port and proposed rail link between Chabahar & Zahedan. In the meetings, both sides positively assessed the progress in implementation of the decisions taken during the Indian Prime Minister’s visit to Iran last year, including the progress of Chabahar Port. Both sides reiterated their commitment to complete and operationalize the ...

The Dollar Business Bureau The Minister of Petroleum and Natural gas Dharmendra Pradhan said that his Ministry has taken up with the Government of Bangladesh for laying a pipeline carrying natural gas from Chittagong to Tripura to address the cooking gas shortage of the North East. In his response to the media in which he revealed the intentions of the Indian government, he said, “We are laying a pipeline for transportation of diesel from Siliguri in West Bengal to Parvatipur in Bangladesh. There is pipeline for carrying diesel from Numaligarh oil refinery in Assam to Siliguri. In exchange, we have given the proposal for a gas pipeline from Chittagong to Tripura. We are pursuing the matter diplomatically and I would also visit ...

The Dollar Business Bureau A US-based technology group Information Technology Industry Council (ITI) has prodded the Trump government to take steps in overcoming barriers in digital trade and alleged that various countries including China and India are biased in their policies which unfairly disadvantage US companies.  In addition, the technology group named countries like Canada, Indonesia, Russia, South Korea, Mexico and Vietnam, which have followed discriminatory policies against American companies.  “Multiple foreign governments have turned to discriminatory or otherwise harmful policies that unfairly disadvantage American companies and impede the ability of technology products and services to drive growth,” ITI said in a report to the President.  The countries in which rules that treat foreign and domestic companies differently are Colombia, China, India, Indonesia, Russia, South Korea and ...

The Dollar Business Bureau Arvind Panagriya has resigned as the Vice Chairman of NITI Aayog, after serving for two-and-a-half years at the country’s revamped planning commission. He resigned from the post today after heading a meeting. Panagariya has hinted that he is likely to go back to teaching and could join the Columbia University. He is likely to be relieved from his post on August 31. NITI (National Institution for Transforming India) Aayog came into effect on January 1, 2015, replacing the Planning Commission. It was created as a premier 'think tank', meant to frame policies for the Indian Government, giving directional as well as policy inputs. Panagariya was handpicked by Prime Minister Narendra Modi to head the NITI Aayog just after its creation. Like the previous Planning Commission, the Prime Minister is the Chairman of the Aayog. Panagariya, has a PhD in ...

The Dollar Business Bureau India has plans to have an open sky agreement with the nations, which are within the radius of 5,000 km, said Oman Air Chief Executive Officer (CEO) Paul Gregorowitsch on Thursday. An open sky agreement refers to an agreement between two nations to allow each other airlines to have an unlimited number of flights, seats, etc between the two countries. “If the current policy of the Indian Government is to also consider an open sky (agreement) for those destinations which are within 5,000 kilometres materialises, in the next two years, then it will automatically (provide us) a more level environment,” said Gregorowitsch, while briefing a media round table in New Delhi. He was confident that the measure could be put ...

By Sheela Mamidenna The youngest of the German cars in India, BMW, is fighting back to reclaim its leadership position in India. With its new Indian President and the company’s ‘power to lead’ strategy, BMW India recently launched the newest version of its luxury sedan, the 5 series, on June 29. Locally produced at the BMW Plant Chennai, the all-new BMW 5 Series will be available in diesel and petrol variants at all BMW dealerships across India from 1 July 2017 onwards. With the official implementation of GST on July 1, BMW is hopeful that it will make a strong comeback in India in a segment that accounts for less than 2% in the passenger vehicle market. With BMW, MINI and Motorrad, the BMW ...

The Dollar Business Bureau Terming the rollout of GST as an important achievement, Asian Development Bank President, Takehiko Nakao, who was on a 3-day visit to India termed the roll-out of the GST as an important achievement for this government. But added that this achievement is not without its flaws. He was appreciative of the government’s determination to push forward with reforms, but wanted the government to put more energy into ‘labour’, ‘land acquisition laws’ and FDI so that Indian economy can grow faster than that of China’s.  Speaking to the media about his views on the rollout of the GST he said, ‘it is difficult to gauge the impact of GST on the economy until it is implemented but the best thing ...