Search Result for : Karnataka

The Dollar Business Bureau Coffee exports from India recorded a growth of 11.5% year-on-year in April this fiscal on account of robust demand in the world markets. The country exported $92.42 million worth of coffee during the month. The country’s shipment of coffee stood at $82.88 million in the same month last year, as per the data by Ministry of Commerce. In terms of rupee, the exports witnessed a growth of 8.22% at Rs.596.17 crore in the given month. India primarily exports Arabica and Robusta varieties of the commodity, in addition to instant coffee. The country’s key export destinations are Belgium, Italy, Greece, Germany, Spain and Switzerland. Coffee is one of the world’s most extensively traded agriculture commodities. India’s share is around 4.5% in the overall ...

The Dollar Business Bureau Data from the Ministry of Commerce website showed that exports from SEZs grew by about 12% to Rs 5.24 lakh crore and attracted investments worth Rs 4.23 lakh crore in 2016-17. While the country’s overall exports recorded a growth of 16.23% in rupee terms. States like Tamilnadu, Telangana, Maharashtra and Karnataka have the highest number of SEZs operational in the country. The Government has approved as many as 421 zones till May 1, of these 218 of them are operational. SEZs all over India have generated employment for 17.31 lakh people. As a special provision to increase exports from SEZs, under GST, the government has decided to treat the supplies reaching the SEZs from the domestic market at par with ...

The Dollar Business Bureau Buoyed by increasing cotton prices, Indian farmers have started sowing cotton in a larger area. Sowing has begun on a stronger note in Haryana, Punjab, Karnataka for the 2017-18 season. India is the world’s biggest producer of cotton and a higher output in the country could enrich the cotton farmers who have been under distress due to prolonged drought, adverse market conditions, non-payment of bank loans  and climatic aberrations. India’s current cotton crop for the season ending this September is expected to be 170 kgs or 34.1 million bales. According to M.M.Chockalingam, Chairman of the State run Cotton Corporation of India, “this year farmers received higher prices, so they are going to raise the area under cotton. We are ...

The Dollar Business Bureau  The DGFT in its latest notification NO.49/2015-2020 dtd December 30, 2016, has extended the MEIS benefit at 5% FOB for ‘Onions Fresh or Chilled’ under ITC (HS) code 07031010 for further 3 months i.e., export till March 31, 2017.  Onion major producing states like Maharashtra,  M.P., Karnataka, Gujarat and Rajasthan have seen bumper crop production in September. Fearing a fall in prices as a result of the bumper crop the government of Maharashtra had appealed to the Ministry of Commerce to extend the MEIS duty benefits beyond Dec 31 in order to help the exporters of onion.  In September the Maharashtra State Finance Minister in his letter to the Finance Minister Jaitley had appealed that, “since the crop of onion ...

The Dollar Business Bureau Referring to the issue in granting visas by British government, the CM of Karnataka, Siddaramaiah, told UK’s Prime Minister Theresa May that India’s skilled tech workers in the UK must be seen as a trade priority rather than an issue of immigrationduring her one-day visit to Bengaluru. “The movement of skilled tech workers from India should be seen as a trade priority rather than an immigration issue. Temporary placement of highly-skilled individuals in the UK provides a significant economic boost while having a negligible impact on net migration,” Siddaramaiah said on Tuesday. Recently, the UK Home Office announced new visa rules that would make it mandatory for IT workers migrating to Britain, under the category of Tier 2 intra-company transfer to have ...

The Dollar Business Bureau Assocham in its recent report stated that Karnataka attracted Rs 53,396 crore investments in the IT sector i.e., nearly  a quarter of all the IT investments made in the country. Nearly 25% of the total Rs 2.2 lakh crore invested were from both public and private sectors that preferred Karnataka as their number one destination for all their IT needs. The state’s compounded annual growth rate has grown at 14% since 2005 i.e., from Rs 14,337 crore in 2005-06 to Rs 53,396 crore in 2015-16. Investments in India specifically in the IT sector showed an increase from over Rs 46,200 crore in 2005-06 to over Rs 2.2 lakh crore in 2015-16, with a CAGR of over 17% during this period, ASSOCHAM revealed ...

The Dollar Business Bureau South American nation, the Republic of Suriname, will establish an exclusive corridor for furniture design in the city of Hyderabad for exporting furniture to Latin American (LatAm) nations. This is the second such furniture corridor in India to be established on the lines of the first one in Kolar (Karnataka). The corridor will start and be functional in the next 6 months. This was revealed to the media on Friday by Asif lqbal, Honorary Consul of Republic of Suriname (for AP, TS and Karnataka). “The Republic of Suriname is working along with the government run design school, National Institute of Design (NID), for partnership,” he added. He was speaking to the newspersons on the sidelines of the opening ceremony of ...

Aamir H Kaki The government is planning to place 50-60 mines on auction this year. Out of which, six mines have already been auctioned and another 20-25 mines are in the pipeline that will be put up for auction in the next three months, Balvinder Kumar, Secretary, Ministry of Mines, said while addressing a gathering at “Workshop on Mineral Concession Rules, 2016” organised by FICCI on Wednesday. Six mines have already been auctioned and another 20-25 mines are in the pipeline that will be put up for auction in the next three months. He informed that the mines in the states of Karnataka, Gujarat, Rajasthan, Jharkhand and Madhya Pradesh are in the pipeline for auction. Kumar further said that the ministry is coming ...