Exports from SEZs grew 18% in February 2018
The Dollar Business Bureau India’s exports from the Special Economic Zones (SEZs) has witnessed an increase of 18% in the month of February this year as compared to the same month last year, on the back of a good growth in the shipments of electronics, non-conventional energy products and tobacco related products. “The SEZ sector in the country has registered 18% growth in exports in February 2018 vis-a-vis the same period in 2017,” according to the latest Exports Performance Report released by the Export Promotion Council for EOUs & SEZs (EPCES). “In February, the total exports from all the SEZs amounted to Rs.22364 crore as against Rs.18990 crore in the same month last year,” the report said. The major sectors that witnessed a significant ...
Engineering exports likely to see a new high this financial year: Teaotia
The Dollar Business Bureau Commerce Secretary Rita Teaotia said on Thursday that engineering exports from India, which have already on a healthy growth trajectory, are likely to witness a ‘new high’ in the ongoing fiscal. Exports from the engineering sector have reached $62 billion, recording a growth of around 22% during the period April-January of 2017-18. “We are confident that, the exports will see a new high this financial year,” Teaotia said, while speaking at the inauguration of India Engineering Sourcing Show (IESS) organised by Engineering Export Promotion Council (EEPC) of India in Chennai. Commerce Secretary said the shipments to developed nations are increasing at a rapid pace. Exports to Europe and North America account for around 40% of the overall exports from engineering sector. The initiatives ...
Govt expects Rs.15 lakh crore investments under Sagarmala
The Dollar Business Bureau The Government is expecting investments worth Rs. 15 lakh crore under its ambitious 'Sagarmala' programme - for modernisation and developments of ports. “The Ministry expects Rs.15 lakh crore investments under the ambitious 'Sagarmala' infrastructure development programme,” said Minister of Road Transport and Highways and Shipping Nitin Gadkari after laying the foundation stone for setting up of a National Technology Centre for Ports, Waterways and Coasts (NTCPWC), at IIT Chennai. “We are expecting around Rs.4 lakh crore investment to be made in road connectivity, modernisation and mechanisation of ports and port-rail connectivity. Work worth Rs.2.80 lakh crore has already been started,” he added. Under the Sagarmala programme, the Shipping Ministry has planned to develop Special Economic Zones (SEZs), coastal ...
Commercial mining of coal to reduce dependence on imports: FICCI
The Dollar Business Bureau Industry association Federation of Indian Chambers of Commerce and Industry (FICCI) welcomed the Government decision for allowing commercial mining of coal and said that it will support ‘Make in India’ initiative and reduce the country’s dependence on coal imports. The Union Cabinet on Tuesday cleared a process of bidding for commercial mining after four years after enabling the sale and commercial mining of coal through the Coal Mines (Special Provisions) Ordinance, 2014. “FICCI welcomes Cabinet approval to introduce commercial mining of coal and sees it as a landmark policy decision that will change the face of Indian Coal Sector by ushering in rebalancing of prices and market dynamics riding on efficient and large-scale mining,” the industry association said in a statement on Wednesday. It considers that ...
Industry welcomes the balanced Budget
Aamir H Kaki Industry players have welcomed and appreciated the Union Budget 2018-19 and called it a balancing act aimed at inclusive growth for boosting the country’s economy. Focused on strengthening agriculture, rural economy, infrastructure, MSME and exports, the Budget for fiscal 2018-19 was presented by Finance Minister Arun Jaitley on Thursday. Welcoming the Budget, Federation of Indian Export Organisation (FIEO) said that it’s a balanced Budget for the country aiming at inclusive growth and transforming rural India. FIEO President Ganesh Kumar Gupta said that the target to take agri-exports from $30 billion to $100 billion is very encouraging as agri-exports would be instrumental in doubling farmers’ income. A stable Agri Export Policy based on digitalised current stock position, scientific forecasting of ...
Union Budget 2018-19: Focus on agriculture, employment, MSMEs
The Dollar Business Bureau Guided by mission to strengthen agriculture, employment, rural development, health, education, MSMEs and infrastructure sectors, Finance Minister Arun Jaitley presented the Union Budget 2018-19 in Parliament on Thursday. Reiterating the pledge given by the Government to the people of the country four years ago to give an honest, clean and transparent Government, Jaitley said that the Government under Prime Minister Narendra Modi has successfully implemented a series of fundamental structural reforms to propel India among the fastest growing economies of the world. Jaitley said that India’s agri-exports potential is as high as $100 billion against current exports of $30 billion and to realise this potential, export of agri-commodities will be liberalised. While presenting the Budget, he said, “Indian society, polity ...
A little bit of push can do wonders for SEZs: Vinay Sharma, EPCES
Ahmad Shariq Khan Apart from doing justice to its given mandate of earning precious foreign exchange for the country, the units in SEZs and the EOUs are playing a critical role not just in economic development of the country but also in nation building, and with a little push the sector can do wonders for the country’s economy, said Vinay Sharma, Acting Chairman, Export Promotion Council for EOUs and SEZs (EPCES). According to Sharma, unlike many Govt projects that have so far made not much progress including the recently announced manufacturing hubs that have long gestation periods and the coastal manufacturing hubs that are yet to see the light of the day, SEZs offer ease of doing business (EODB) in the true ...
Make-in India led to a record $60 bn FDI inflow in FY17: Comm Min
The Dollar Business Bureau The ambitious ‘Make-in India’ initiative by the Government has led to a record inflow of foreign direct investment (FDI) of $60 billion in the financial year 2016-17, the Commerce Ministry said on Wednesday. “The Make in India initiative was launched on September 25, 2014 with the objective of facilitating investment, fostering innovation, building best in class manufacturing infrastructure, making it easy to do business and enhancing skill development,” the Ministry said in a statement. The Government is also increasing the focus to new emerging sectors under the Make in India initiative. These include biotechnology, aerospace and defence, new and renewable energy and information communication and telecom equipment manufacturing, it said. There were 21 key sectors identified for specific actions in ...
