India, Latin America hold a business conclave to boost trade
The Dollar Business Bureau India and Latin America organised a business networking seminar on Thursday in Mumbai in order to boost trade and investment between the two regions. The International Conclave on India-Latin America & Caribbean Partnership: Opportunities to Promote Trade and Investment was jointly organised by the Group of Latin America and Caribbean countries (GRULAC) in India, the All India Association of Industries (AIAI) and World Trade Centre Mumbai. The conclave, which was organised for the first time in the commercial hub of Mumbai, was attended by nearly 40 Heads of Missions, overseas experts, investment and trade promotion agencies from LAC, and senior government officials from India and LAC. Trade between India and LAC is expected to reach $100 billion from the current $46 ...
Trump administration announces steps to combat H-1B visa abuse
The Dollar Business Bureau The US Department of Homeland Security on Monday announced measures to prevent the fraudulent use of H-1B visas used by the American companies to bring in skilled foreign workers temporarily. The US administration has taken several steps - such as unveiling plans to enhance transparency on applicants and issuing a warning to employers - to keep a check on H-1B visa abuse. "These are important first steps to bring more accountability and transparency to the H1B system. The administration is considering several additional options for the president to use his existing authority to ensure federal agencies more rigorously enforce all aspects of the program," according to a White House official. Tech companies are dependent on the H-1B program to bring ...
Maruti Suzuki India contributes to 50% of Suzukis global sales
The Dollar Business Bureau The Indian arm of Suzuki Motor Corporation (SMC), Maruti Suzuki India contributed more than 50% to its parent company’s global sales in terms of volumes in the period April-December of the current fiscal. SMC said that during April to December period of this fiscal, its Indian automobile sales stood at 10.61 lakh units, whereas its total global sales stood at 20.83 lakh units at 50.93%. In the same period last fiscal, the company said that its sales in India stood at 9.72 lakh units out of an overall sales across the globe of 20.40 lakh units, making up for 47.64%. SMC on Monday reported that the company’s consolidated operating income increased by 14.4% to 167.4 billion yen (around $1.49 ...
Government in the process of making international trade paperless
The Dollar Business Bureau As part of its efforts towards ease of doing business, the government is in the process of making overseas trade paperless. The Directorate General of Foreign Trade (DGFT) is taking slew of measures to simplify the business process for traders including exporters and importers, a report said. “In the days to come, the ministry is going to focus on simplification and ease of doing business, use of technology and digital things to make international trading paperless,” Commerce Secretary Rajeev Kher was quoted as saying. The ministry has launched two mobile applications meant for traders seeking information about services and schemes related to foreign trade. The new apps—DGFT and DAVA— will be accessible to traders on Android platform. ...
