Search Result for : Myanmar

The Dollar Business Bureau Red Sanders wood, an endangered species of flora protected under the Convention of International Trade in Endangered Species(CITES) of Flora and Fauna, has been prohibited from being imported by the Directorate General of Foreign Trade. Earlier this wood was free to be brought into the country, but the government has through a notification specified that it has shifted imports of this wood from free to the prohibited category. Red Sanders in India is found mainly in the Seshachalam hill ranges spread across the Rayalseema and Nellore regions of Andhra Pradesh. Possession or selling of this prized wood is considered to be illegal. This wood has a huge demand in the markets of Japan and China as it is valued for its ...

The Dollar Business Bureau Commerce Ministry said on Monday that the recent round of discussions in Hyderabad for the Regional Comprehensive Economic Partnership (RCEP) would provide a push to the negotiations. Around 700 officials representing 16 nations including Australia and China, gathered in the city during July 17-28 to negotiate the mega trade deal RCEP. It is vital that the RCEP provides a forward looking and positive alternative with regards to rising protectionism across the world, Commerce Secretary Rita Teaotia said in a statement. “India is constructively engaged in RCEP and hopes that the 19th RCEP Round in Hyderabad would find innovative ways to provide impetus to the negotiations,” Teaotia said. The Commerce Secretary further said that the real success of RCEP will be assessed ...

The Dollar Business Bureau India and Japan have come together in a major way for developing strategic and civilian infrastructure in Andaman & Nicobar Islands and abroad that can distinctively benefit Singapore, said a leading Indian researcher. Rupakjyoti Borah, visiting research fellow at National University of Singapore (NUS), said that India-Japan partnership offers business opportunities to Singapore’s infrastructure companies that are ‘too good to miss’. He further said Singaporean companies could collaborate with firms in India and Japan, not just for building, but also maintaining the infrastructure projects. “A notable area could be the port (sector) as Singapore has rich expertise in this area,” Borah said, while speaking at the Institute of South Asian Studies in Singapore. Borah further said that being a major energy ...

The Dollar Business Bureau David Rasquinha, MD, Export Import Bank of India, revealed that the premier export-promoting body aims to raise $2.5 billion – $3 billion from overseas markets in the current fiscal year. In 2016-17, EXIM had successfully raised an amount of over $2 million from foreign markets. Even if the deployment of these funds doesn't take place right away, it helps secure liquidity and enhances long term investment opportunities up to 20 years, the MD said. EXIM promotes Indian investment in Africa in the sectors of power, roads, railways, renewable energy, and agriculture. Of all its annual funding, about 50% goes towards countries in Africa. The export promotion agency supports long-term projects predominantly in SAARC, Africa, and the far east region. It sees potential for financial lending in the neighbouring countries of ...

The Dollar Business Bureau The Textile Ministry on Thursday conveyed that it is taking concrete steps to set up textile parks in India with an emphasis on linking these parks with tourism.  The Centre has provided Rs.10 crore for improvement of Raghurajpur area in Odisha to facilitate textile-tourism linkage. "As many as 24 textile parks have been set up in different parts of the country in the last two years of the BJP-led NDA government. We are trying to link this key sector with tourism," Textile Minister Santosh Gangwar said.  Earlier this week, the government approved a Rs.6000 crore special packages for the textile sector.  Referring to the policies of the previous government, Gangwar said only 16 textile parks had been set up during the ...

The Dollar Business Bureau   In order to boost economic and trade ties between India and Myanmar, India’s Minister of Commerce and Industry, Nirmala Sitharaman, will lead a 25-member delegation of businessmen to Myanmar. "After the recent change of government in Myanmar, Nirmala Sitharaman will be the first Indian minister to visit the country. The Minister will head a high level delegation of CEOs from May 18th to 20th, 2016," according to an official statement. She will take part in the India-Myanmar Business Conclave to be held in Yangon. The conclave is being organised by New Delhi as part of its 'Act East' strategy. The 25-member delegation includes Arundhati Bhattacharya (State Bank of India), Madhu Kannan (Tata Sons), Naushad Forbes (President, CII), Rakesh Mittal (Bharti ...

Source: PTI   A 12-member industry delegation from West Bengal and Odisha will visit Myanmar to explore opportunities for bilateral trade and increase economic cooperation. The five-day visit starting from May 16 will include meetings with potential partners from Myanmar matching the profiles of the visiting delegates, the Bengal Chamber of Commerce and Industry (BCC&I) said in a statement. The delegation will meet the Union of Myanmar Federation of Chambers of Commerce and Industry, the Mandalay Region Chamber of Commerce and Industry, Indian Diaspora in Myanmar and Cabinet Ministers of the Republic of the Union of Myanmar. "India and Myanmar have enjoyed close geographical proximity, cultural ties and cordial relations through history that have facilitated long-standing trade relations across land and sea routes," BCC&I ...

Source: PIB, Government of India The second meeting of the inter-ministerial committee on prices and availability of essential food items was held in New Delhi on Monday. The committee reviewed the current status of the arrival of imported pulses and onion. On pulses, MMTC appraised that 2500 MT of the imported Tur will arrive in three tranches at Chennai port and similar quantity of around 2500 MT of Tur will arrive at JNPT in four tranches beginning from September 23. The entire consignment of 5,000 MT of Tur would be received at the two ports by October 20, 2015. To further improve the availability, import of additional 5,000 MT of Tur has also been approved. MMTC has already floated a tender ...