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 ...
Expanded India-Chile PTA to be in effect from May 16
The Dollar Business Bureau A milestone trade agreement between India and Chile which was approved by the Indian Cabinet on September 6, 2016 will be effected from May 16, 2017. The expanded PTA will benefit both the countries in several ways, as a wide variety of concessions has been agreed upon on a number of tariff lines by both the sides. "The expanded PTA has a wider coverage. This would facilitate exporters of both sides to take the advantage of tariff concessions as per the expanded PTA immediately which covers around 96 percent of bilateral trade." A Preferential Trade Agreement (PTA) which was signed on March 8, 2006, came into force in 2007. "The original PTA had a limited number of tariff lines, wherein both ...
Israel's Dan Hotels to come up in Bengaluru in July
PTI Israel's leading hotel chain, Dan Hotels, is set to venture into India by opening its property in Bengaluru in July, its first overseas facility outside the Middle East. "If all goes well and regulatory requirements are met quickly, the hotel will be operational in July," a senior executive at Dan told PTI. The 230-room luxury hotel is coming up close to Bengaluru's high-tech park and will have easy access to it. "We chose Bengaluru because it presents us with a good opportunity given that so many Israeli tech companies have a presence in the city," the official said, adding that the hotel chain would look to explore further opportunities in other Indian cities in the future. ...
India to clock 7.1% GDP this year, 7.5% in 2018: UN report
PTI India is expected to clock 7.1% growth this year before edging up to 7.5% in 2018, according to a UN report, which warned that the country faces heightened risks related to the concentration of bad loans in the public sector banks. The UN Economic and Social Commission for Asia and the Pacific (ESCAP) said in its annual flagship report 'The Economic and Social Survey of Asia and the Pacific 2017' launched yesterday that the economic growth for India is projected to be stable at 7.1% in 2017 before edging up to 7.5% in 2018, underpinned by higher private and public consumption and increased infrastructure spending. Growth in India is forecast at 7.1% this year as "re-monetisation restores consumption, ...
Tata Motors robot 'BRABO' to be exported to Europe
The Dollar Business Bureau Indian auto major Tata Motors Ltd said on Sunday that its wholly owned subsidiary TAL Manufacturing Solutions Ltd has got 'CE' certification for the first Made-in-India robot - 'BRABO' to be sold commercially in the European market. “The TAL BRABO now complies with essential requirements relevant to European health, safety and environmental legislation, permitting its export to customers in Europe,” the auto major said in a statement. The robot can be utilised for different applications such as picking and placing materials, machine and press tending, assembling parts, sealing applications, jobs related to camera and vision, among others. This advanced robot can also complement human labour force by conducting dangerous, dull and monotonous tasks. TAL Manufacturing with BRABO will concentrate using it in automotive, logistics, pharmaceuticals, electronics, packaging, food and other industries. Currently, ...
'The present government has realised that ObamaCare can't be repealed', Matt Szuhaj, MD, Deloitte
Sneha Gilada Pharmaceuticals contribute as much as 5% to all Indian exports, and US is the biggest export market for Indian pharma, contributing one-third of total pharma exports. Naturally, the big names in Indian pharma are experiencing jitters from Trump's recent protectionist utterances. At Bio Asia 2017, in an exclusive with Matt Szuhaj, MD, Deloitte Consulting LLP, San Francisco, The Dollar Business explores the extent of disruption the new political developments in America could cause. What is the present corporate tax scenario in USA? Let me give you a broader context. Outside of the administration change in US, there was an effort by the OECD countries called base erosion and profit shifting. This was a process of trying to harmonise tax codes between countries. Essentially, they wanted more visibility, more transparency, and less individual agreements for specific ...
Govt considers relaxing sectoral restrictions to attract FDI
The Dollar Business Bureau In order to attract more foreign investment into the country, the government is considering to relax the sectoral restrictions in sectors such as retail trading for international players. The ministry of commerce and industry is likely to have discussions regarding sector specific issues with the concerned departments and ministries, according to some sources. In the retail trading segment, there are a few clauses in Legal Metrology (Packaged Commodities) Rules, 2011, which are hampering foreign investments in the sector, they said. According to these norms, mentioning maximum retail price (MRP) on all the items is mandatory and re-labeling of products is also not permitted as it comes under the manufacturing definition. On imported products, MRP can only be fixed in a ...
Taxing issues hamper ease of doing business: Nirmala Sitharaman
Manishika Miglani Taxation is a vexing issue which hampers the very idea of ease of doing business which has led to the government taking systemic reforms to boost Indian trade, said Union Commerce Minister, Nirmala Sitharaman at an Assocham conference on “Strategies for double-digit growth in exports” held in New Delhi. While bringing forth the challenges faced by the Indian export industry in different sectors, Sitharaman acknowledged logistics as a key concern challenging the industry. She also highlighted regional barriers that countries need to discuss on the sidelines of events such as BRICS, as one of the significant components to strengthen exports in order to get access to newer markets. Citing one such example, she recommended that the Chinese open their markets to ...
