Search Result for : Leather

The Dollar Business Bureau Meat exports from India rose to 13.53 lakh tonnes in the financial year 2016-17 from 13.36 lakh tonnes a year ago, Commerce and Industry Minister Nirmala Sitharaman informed the Parliament on Wednesday. However, in value terms, exports dropped to Rs.27,184 crore in 2016-17, compared to Rs.27,528 crore in 2015-16. “The Commerce Ministry has received no complaint with regards to the prevention of production of leather and meat, Sitharaman said in a written response to the Rajya Sabha. However, the export of buffalo meat was declined, according to the data, she said. During April-May period of 2016-17, buffalo meat export was $554 million whereas it stood at $530 million during the same period this ...

By Abin Daya A very contentious regulation came out last week in the form of the new Prevention of Cruelty to Animals (Regulation of Livestock Markets) Rules, thereby making it illegal to sell cattle for slaughter in animal markets. While the actual impact of the regulation will depend on the implementation, which is mostly a state subject, there are fears that this will impact the $12Bn leather market and the approximately $4Bn carabeef (buffalo meat) export business. Added to this are unanswered questions of what farmers will now do with their old draught and milch cattle.  Things are already not so great for India’s leather export business, which has declined over the past 3 years. Global trade sentiment remains weak, and indicative of this ...

The Dollar Business The industry body FIEO forecast challenges for the exporters if the rupee continued appreciating in the future. Global trade is expected to grow at 2.4% in 2017, and there is likelihood of extreme instability in currencies. Though the rupee has gained against the dollar, and since competing currencies of other countries could depreciate further, rupee’s appreciation could hurt India’s competitiveness in its labour intensive business units especially sectors such as agro-products industries, handloom, leather, textiles and marine products. The government should support these sectors based on their forex returns so that those companies handling large imports, which will be benefitted with the appreciation are provided less support than those having little or no support. Speaking at a press meet ...

The Dollar Business Bureau The government has yet to come to a decision with regards to tax on banking transactions, but it has got various recommendations from the Committee of Chief Ministers, constituted by the NITI Aayog, said Economic Affairs Secretary, Shaktikanta Das on Thursday. “The government is carefully examining the report, no decision has been taken so far, as and when a decision is taken, naturally government will give it out,” said Das, while speaking at the ASSOCHAM’s 96th Annual Function in New Delhi. Mentioning the strong fiscal foundation of India, he said that the fiscal deficit of the country has gradually been cut down,and that it is essential to find the perfect balance between the public expenditure requirements and fiscal consolidation by focussing those ...

The Dollar Business Bureau Pegged at an overall market size worth about Rs 25,000 crore, India’s leather industry offers direct and indirect employment to almost 20 lakh people. And with an annual turnover worth over $10 bn, leather exports have increased manifold over the past decades thereby touching about $6 bn in 2013-14. However, a study by industry body Assocham titled ‘Leather and leather products sector in India: Strategy to facilitate export’ says, that factors such as financial constraints, high interest rates, lack of infrastructure facilities are some key challenges contributing in making the leather industries in India uncompetitive and impacting its growth. And then there are other reasons that play up in a big way too. The persisting ...

The Dollar Business Bureau The Union Minister for Science and Technology, Harsh Vardhan, on Tuesday, called upon the Indian technologists and scientists working on development of low cost building and structural materials, to develop affordable and sustainable solutions. Addressing the personnel of the CSIR-Structural Engineering Research Centre (CSIR-SERC), a Laboratory of the Council for Scientific and Industrial Research (CSIR), the Minister urged the structural engineers to bear the responsibility of implementing Government of India’s roof for all plan in an affordable manner. In this regard, the Minister said that there is a need to use low cost technologies for rapidly filling up the demand-supply deficit and urged for the implementation of the same in the fulfillment of Prime Minister, ...