Search Result for : Nepal

The Dollar Business Bureau Jayant Sinha, the Union minister for Civil Aviation proposed the Ude Desh ka Aam Nagrik (UDAN) scheme that would connect the smaller towns across the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region. Adding that such a move will be similar on the lines of the Open Sky Agreement that India enjoys with the SAARC countries, he said, "We can sign an MoU with different countries to be able to provide support for an UDAN-type scheme across the BIMSTEC community. Of course, we will have to couple that with something like an Open Sky Agreement so that airlines can fly freely," Sinha told reporters. Under the Open Sky Agreement (OSA), signed in 2016, New ...

The Dollar Business Bureau The Ministry of Commerce had discussions with the officials of the World Bank in Washington, conveying its concerns over the methodology used by the Bank in ranking countries in terms of ease of doing business. The index rates the top economies among 189 countries. The commerce ministry was joined by officials from the Department of Industrial Policy and Promotion (DIPP) in its discussions. DIPP secretary Ramesh Abhishek shared in a tweet that the detailed interaction with the team in Washington DC resulted in creating better awareness about reforms in India. "The Bank team also sensitized on various concerns on methodological and other issues. All departments/agencies made excellent presentations," Abhishek quipped in his tweet. The annual ratings exercise has been a ...

The Dollar Business Bureau  India and its neighbour Nepal will further strengthen cooperation in some key areas such as investments, trade, security and energy, the Ministry of External Affairs of India said. The two countries had discussions on various issues during the Nepalese President Bidya Devi Bhandari ongoing visit to India. The Nepalese President is on a visit from April 17-21 to India and held meetings with Indian President Pranab Mukherjee, Vice President Hamid Ansari, External Affairs Minister Sushma Swaraj, Home Minister Rajnath Singh and Finance and Defence Minister Arun Jaitley. The two sides noted that India-Nepal ties derive their strength from their shared history, common ethos of culture, and long intense and close people-to-people contact supported by the open borders, MEA said in ...

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 India said on Thursday that it would export extra electricity of 145 MW to Nepal through the newly built two cross-border transmission lines, few days after Nepal requested for more electricity to cope with the severe load-shedding. “Export of power to Nepal is expected to increase by around 145 MW shortly through two 132 kV transmission lines," Indian Embassy said in a statement. Last month, construction of the two cross-border transmission lines was completed. These are Katiya- Kusaha and Raxual-Parwanipur cross-border. Soon after the construction completed, Kathmandu requested New Delhi to provide power via these two transmission lines. Recently, Ambassador of Nepal to India, Deep Kumar Upadhyay, prodded the Indian Power Minister Piyush Goyal ...

The Dollar Business Bureau (Sourced from PTI) The US has started implementing a trade preference programme for Nepal under which different types of products that meet eligibility criteria will be imported duty-free from the Himalayan nation.The Nepal Preference Programme is authorised for ten years and designed to help Nepal's economic recovery from the earthquakes that struck the country in 2015, according to a statement by the US Embassy here.Trade Facilitation and Trade Enforcement Act of 2015, which was signed by US President Barack Obama yesterday, will provide duty-free treatment for dozens of types of imports from Nepal that meet specific eligibility criteria, including certain types of carpets, headgear, shawls, scarves, and travel goods, the statement said."The program grants duty-free tariff benefits ...

PTI China has provided Rs.15.80 billion to Nepal for post-quake reconstruction activities, a senior minister has said.The Cabinet meeting yesterday decided to accept the grants worth Nepalese Rupees 15.80 billion provided by China, said Surendra Kumar Karki, Minister for Information and Communications.The meeting of the Council of Ministers also decided to register the election (crime and punishment) bill at the Legislature-Parliament.Decision was made to send a proposal to legislation committee on a work procedure to study the agreement government made with Govinda KC, and forward implementations accordingly, Karki said.A committee would be formed by the government under the coordination of chief judge of appellate court, Govinda Prasad Parajuli, to study on the government employees and teachers who were sacked from the ...

The Dollar Business Bureau In order to stem the dumping of low-quality jute products i.e., jute yarn/twine (multiple folded/cabled and single), Hessian fabric, and jute sacking bags from Bangladesh and Nepal, the Ministry of commerce has investigated the and issued a notification imposing anti-dumping duties on Bangladesh and Nepal. The petition was filed by the Indian Jute Mills Association (IJMA) before the Directorate General of Anti-dumping and Allied duties (DGAD)against Bangladesh and Nepal. The notification dated 20th Oct 2016 states its observations after examining the contention of various interested parties under the following points: (i) There is dumping of product concerned from the subject countries. (ii) Imports from subject countries are undercutting and suppressing the prices of the domestic industry. (iii) Performance of domestic industry ...