Search Result for : Korea

The Dollar Business Bureau The Cabinet has approved a proposed agreement for export credit of $9 billion between Export-Import Bank of India (EXIM Bank) and Export-Import Bank of Korea (KEXIM) for infrastructure development in the country and for supplying goods and services as a part of project in other nations. “The Cabinet, chaired by the Prime Minister Narendra Modi, has approved the proposed memorandum of understanding (MoU) between Export-Import Bank of India (EXIM Bank) and Export-Import Bank of Korea (KEXIM) for export credit of $9 billion for infrastructural development in India and for the supply of goods and services as part of projects in third countries,” said an official statement. The MoU is likely to be signed between the two sides when Finance ...

PTI The Trump administration has placed six of its major trading partners including China and Japan on a "monitoring list" to keep a close watch on their currency practices. It has placed China, Germany, Japan, Korea, Switzerland and Taiwan in the monitoring list in its six-monthly report to the Congress. "Treasury finds that six major trading partners warrant being placed on the monitoring list for special attention: China, Germany, Japan, Korea, Switzerland and Taiwan," the report said. The US Department of Treasury yesterday concluded that no major trading partner of the US met the Congressional standards for currency manipulation in the second half of 2016. Additionally, US Department of the Treasury established a "monitoring list" of major ...

Sharath Chowdary The Telangana government is ready to offer land parcels for various Korean companies to set up their base in the state. The government will work on creating an investment cluster to cater to the basic needs of Korean companies investing in the state, Telangana Industries Principal Secretary Arvind Kumar told The Dollar Business. He was speaking to the media while taking part in the Korean Caravan 2016 in Hyderabad on Wednesday. The Caravan was organised by the Confederation of Indian Industry (CII) in association with the Embassy of the Republic of Korea. Arvind Kumar said, “Last month, Telangana Chief Secretary Rajeev Sharma had proposed to develop an exclusive industrial park for Korean companies, during a meeting with the Union government in New ...

The Dollar Business Bureau India’s steel imports in May dropped to its lowest in over 14 months, after the government imposed restrictions on cheap overseas supplies of the metal. According to Steel Ministry reports, steel imports plunged 29% to 1.2 million tonnes in the first two months of the current fiscal. India imported 546,000 metric tonnes of steel in May this year as against 924,000 tonnes in the same month last year. In February this year, the government had imposed a floor price on imports of 173 steel products. In March, it extended import taxes on a few steel products until 2018. Last month, the government had imposed a temporary anti-dumping duty on pipes and seamless tubes imported from ...

Source: PIB, Government of India Department of Industrial Policy and Promotion (DIPP) Secretary, Amitabh Kant at the Mega Conclave organized by Quality Council of India.   Celebrating the 10th year of National Quality Conclaves, the Quality Council of India (QCI) on Friday organized a mega conclave in the national capital which was inaugurated by Department of Industrial Policy and Promotion (DIPP) Secretary, Amitabh Kant. The theme of this year’s conclave is “Creating an Ecosystem for World Class Quality”.  Delivering the keynote address, Amitabh Kant, said, "India needs to achieve 9 to 10% p.a. growth for three decades which would lead to transformation of the nation and poverty being eliminated." He cited the examples of countries like Japan, Korea, China who grew in ...

The Dollar Business Bureau India along with four other countries is facing an anti-dumping investigation in the US for unfair practices in the import of corrosion-resistant steel products. The US International Trade Commission (USITC) has begun an investigation to determine whether to impose anti-dumping and countervailing duties on the import of these steel products from India, China, Italy Korea and Taiwan, a report said. The probe was ordered after six major US steel producers filed a petition before the USITC, alleging suppliers of these countries of causing injuries to the domestic industry. The petition was filed by the United States Steel Corporation, Nucor Corporation, Steel Dynamics Inc, California Steel Indutries, ArcelorMittal USA LLC and AK Steel Corporation on June 3, according to ...

Aadhira Anandh | The Dollar Business The anti-dumping investigation carried by the Directorate General of Anti-Dumping & Allied Duties on the sunset review of the matters relating to the import of potassium carbonate, have resulted in the central government continuing to impose definitive anti-dumping duties on potassium carbonate (subject goods). A Ministry of Commerce notification said that the petition was filed by Gujarat Alkalies and Chemicals Limited (GACL) in June 2009. GACL is one of the major producers of potassium carbonate for the Indian market and had filed this petition on the imports of potassium carbonate originating in or exported from the European Union, Korea RP, China PR and Taiwan. The results came out in such a way saying that duties ...

Sai Nikesh | The Dollar Business The manufacturing sector holds a dominant share of exports and imports by the Indian companies reporting Foreign Technical Collaboration (FTC) agreements, during 2012-14 period. This was the outcome of the Reserve Bank of India’s survey report on ‘Foreign Collaboration in Indian Industry: 2012–2014,’ released on Tuesday, in which 303 Indian companies reported 528 FTC agreements of the total 826 companies that responded. In its tenth round of survey covering the years 2012-13 and 2013-14, the RBI further said, “Under industry-wise distribution of FTC agreements, the share of manufacturing sector increased substantially during 2012-14, while the services decreased.” The construction sector and agriculture-related activities witnessed a rise in their share in FTC agreements in 2012-14, compared ...