Search Result for : Indian Industry

The Dollar Business Bureau The Confederation of Indian Industry recently said that most traders and businesses in India are ready for GST implementation from July 1. Most of them approve the Government’s decision of GST as it would contribute significantly towards economic growth, trade expansion and increase in employment in the country. Speaking to the media, CII Director General, Chandrajit Banerjee said, "GST has been finalised after a collaborative and consultative approach and we look forward to its introduction. It is the most significant indirect tax reform introduced in the country since Independence.” CII has been organising over 100 workshops across the country to enable traders and businesses to comply with the new regulations. A helpline has been established where participants can request for ...

The Dollar Business Bureau The bilateral trade between India and the United Arab Emirates (UAE) is likely to touch the $100 billion mark by 2020, from the present $60 billion, a press release of Confederation of Indian Industry (CII) said.  “This is evident from the rising interest of the Indian firms towards the markets of Middle East, especially the UAE and the steps taken by the Ministry of Commerce & Industry of India and CII to further boost trade and investment relations,” CII said in a statement.  Presently, the trade between the two nations is estimated at $60 billion, the statement read which was released on the sidelines of Middle East Electricity Exhibition in Dubai where around 50 major Indian companies are taking part.  The ...

The Dollar Business Bureau At the inaugural of Aero India 2017, an International Aerospace and Defence Exhibition, Defence Minister Manohar Parrikar announced the government's plans to providing impetus to an indigenous production of defence aircraft. In particular, the government has sanctioned expenditure of Rs 359 crore to set up a second line of production for Light Combat Aircraft (LCA) Tejas. While this project is likely to commence in three months, the production process shall take a year and a half to get rolling. The Defence Minister also said that Hindustan Aeronautics Ltd (HAL) has been asked to augment production in various sectors by outsourcing in 'large quantities'. The government has also discussed the export potential of LCA Tejas with Hindustan Aeronautics Ltd and Indian Air Force, in its bid to touch the targeted $2 billion export mark for the defence sector. Parrikar, in order to align the ...

The Dollar Business Bureau  Indian industry cannot ignore adopting Industry 4.0 and it has to focus more on making use of green technologies and best practices followed the world over, experts opined. This reaction comes in the wake of the Indian government setting its sights to increasing the share of manufacturing from 17 to 25 percent of GDP. And the government intends to do so in order to create millions of jobs and to push the country’s economic growth.  Speaking to the media about aiming for an increased economic share in GDP, Hospira Healthcare Managing Director, Srini Srinivasan said, “To achieve this target, Indian industry has to adopt Industry 4.0 as it is important to boost manufacturing,". He also added that adopting Industry 4.0 ...

 The Dollar Business Bureau An industry body has asked the government to take urgent steps to reduce non-tariff barriers and ensure level-playing field for Indian companies in China. The Confederation of Indian Industry (CII) submitted a memorandum to the government a day before Prime Minister Narendra Modi was scheduled to begin his five-day tour to China, South Korea and Mongolia. Expressing concern over various challenges faced by Indian firms in IT, pharma and media sectors, the memorandum said that though the bilateral trade rose at a compound annual growth rate (CAGR) of 15% since 2007-08, the trade deficit has been burgeoning in an unsustainable manner. “Sectors such as IT, drugs and pharma, and media and entertainment pose several challenges for ...