Search Result for : International Market

The Dollar Business Bureau Imposing Goods and Services Tax (GST) on international freight is going to make India’s air cargo services "non-competitive", said industry body PHD Chamber of Commerce and Industry (PHDCCI) on Wednesday. Earlier, under service tax regime, freighters were exempted to pay any tax, whereas now they have been levied with 18% GST. “Putting 18% GST on international freight is totally unfair as this will impact the air cargo growth, said PHDCCI in a statement issued after an Air Cargo Summit, which is organised by the industry body on Wednesday in New Delhi. “Why would the Government of India want Indian exporters to pay extra 18% GST on freight and make our goods non-competitive in international market,” the statement said. Vipin Vohra, Co-Chairman, ...

The Dollar Business Bureau The government is likely to increase the duty on the import of sugar to 60% from the present 40% in order to control the cheap imports and to maintain local prices.  Any decline in the domestic prices of sugar will impact the millers' capacity to pay sugarcane dues to farmers. In the wake of lower sugar production expected during the current marketing year of 2016-17, the government, in April, had permitted 5 lakh tonnes of raw sugar import at zero duty in order to boost local supply.  “We are monitoring global price movement closely. Prices in the international market are falling and some traders are keen to import even at high customs duty. So, we are considering raising the import duty,” ...

The Dollar Business Bureau The Government on Friday changed the tariff value – the base import prices of a commodity - of several products including gold and silver. The tariff value for gold has been revised to $430 per 10 grams from $428 per 10 grams and for silver to $620 per kilogram from $612 per kilogram. The government revises the tariff rates for certain goods from time to time, which is usually done every fortnight. The changes are made considering the changes in foreign currency rates, the movements in the international markets and on the basis of average price or wholesale price of various manufacturers as the government may consider right. The tariff value is a national value used to calculate the duty payable ...

We all have heard and read exporters' success stories. At times, we do stumble upon a trader's story too. But Vaishali Sarwankar's case is exceptional. She is not just an ordinary trader, but one of the few Indian women who are into commodity trading in the international market! Vanita Peter D'souza | March 2016 Issue | The Dollar Business Vaishali Sarwankar, Head – International Trade & Director, Atlantic Industrial & Trading Pte Ltd. One moment, she appears to be the girl next door, and the very next, she is the Director of a company with an annual turnover of $500 million. One could simply introduce Vaishali Sarwankar as a lady who has not just carved herself niche in the male-dominated commodity trading business, ...

Kalraj Mishra, Union Minister for MSME, said that his government has drawn up a number of schemes to boost the sector The Dollar Business Bureau Union Minister for MSME Kalraj Mishra inaugurated the Global SME Summit 2015 being held in New Delhi   Emphasising on the need to boost domestic manufacturing, the government on Monday asked the Micro Small and Medium Enterprises (MSMEs) to explore ways to forge global partnership and become competitive in the international market. MSMEs should forge partnerships with their counterparts in various countries and try to become more competitve, Kalraj Mishra, Union Minister for MSME, said while speaking at the inauguration of the Global SME Summit 2015 in New Delhi. The minister said that his government has drawn up a number ...

 The Dollar Business Bureau The annual rate of inflation based on the wholesale price index (WPI) for October has reduced to -3.81% as against -4.54% recorded in September and 1.66% during the same month of last fiscal, according to the government data released on Monday. “The official Wholesale Price Index for ‘All Commodities’ (Base: 2004-05=100) for the month of October, 2015 rose by 0.1% to 176.7 (provisional) from 176.6 (provisional) for the previous month,” the government said in a statement. The wholesale price index has been witnessing downfall for the past 12 months in the wake of the slowdown in commodity prices in the international market. So far, the build-up inflation rate in the current financial year has been ...

Jasleen Kaur | The Dollar Business Jeera (cumin) exports from India are expected to slide during the current financial year due to low quality yields caused by unseasonal rain as well as demand slump from major importing markets. India, one of the largest exporters of the spice, has been facing a price war in the international market due to surplus supply from other exporting countries like Syria and Turkey. Analysts attribute the down ward trend in the global price to distressed sale from troubled region of the Middle East, where fresh crop has already hit the market. Disrupted supply from within the country due to unfavourable weather during sowing season also added to the price fluctuation. However, Indian exporters hope that ...

Source: PTI As high prices of pulses continue to hurt consumers, Finance Minister Arun Jaitley on Tuesday said the rates will come down soon in view of good harvest and action taken against hoarders. With government under attack from opposition parties on the issue, Jaitley said that retail inflation has come down to about 4% from 12% since the Congress went out of power last year. He suggested that the prices of pulse grew also because proper action was not taken by states against the hoarders. “The rate of inflation has come down in last one and half year. Prices of many commodities have come down. But there are some products, whose arrival is less in the Indian market as well ...