In possible trade war, India doesnt have much flexing power: ASSOCHAM
The Dollar Business Bureau Though India’s trade deficit may reach around $150 billion annually and the level of imports is much higher over exports, the country doesn’t have much flexing power, it the world witnesses an escalation in trade war, said the industry body Associated Chambers of Commerce of India (ASSOCHAM). “We cannot flex too much of our importing muscle, even if our exports face consequences of trade war and are subjected to tariff barriers,” ASSOCHAM in a statement on Sunday. The industry body pointed out that the best course in this situation would be to continue our engagement with the key trading partners, without aligning ourselves too much into a single bloc. “Wherever, our exports are affected, we must engage bilaterally and use ...
Plastic goods exports to double in 5 years: PLASTINDIA
The Dollar Business Bureau The exports of plastic finished goods are set to almost double from the current $7.9 billion to $15 billion in next five years. The industry is determined to play a significant role in executing government’s vision of raising exports to $900 billion by 2020, said an apex body of plastics industry. “It seems that the centre of gravity is rapidly shifting to India due to the opportunities here. India is the world’s NEXT Plastic destination by virtue of both, its sheer size and tremendous growing domestic demand. The facts and figures say it all,” said Rajeev Chitalia, Chairman of NEC, PLASTINDIA 2018. He further mentioned that plastics consumption of India is set to increase from the current 12 million ...
India cautions traders about fraud in import-export from China
PTI Indian diplomatic missions in China have cautioned traders from India that they may end up getting sand, stones, salt, bricks, mud etc in place of items ordered and issued detailed guidelines to avoid incidents of cheating. The Indian Embassy and the Consulates have issued trade advisories to various trade bodies and associations cautioning traders and small and medium enterprises (SMEs) planning to do business with China after receiving several complaints. "It is to enhance the commercial cooperation between India and China by drawing attention to some of the risks faced by Indian traders/SMEs to take preventive and/or mitigating action," said the advisory. "The information contained in this advisory is based on trade-related problems that are periodically brought to the Consulate's attention for information, facilitation ...
India cautions traders about fraud in import-export from China
PTI Indian diplomatic missions in China have cautioned traders from India that they may end up getting sand, stones, salt, bricks, mud etc in place of items ordered and issued detailed guidelines to avoid incidents of cheating. The Indian Embassy and the Consulates have issued trade advisories to various trade bodies and associations cautioning traders and small and medium enterprises (SMEs) planning to do business with China after receiving several complaints. "It is to enhance the commercial cooperation between India and China by drawing attention to some of the risks faced by Indian traders/SMEs to take preventive and/or mitigating action," said the advisory. "The information contained in this advisory is based on trade-related problems that are periodically brought to the Consulate's attention for information, facilitation ...
Plasticulture can lift agro output to Rs.68,000 cr
The Dollar Business Bureau Agricultural output can increase to Rs.68,000 crore by using plasticulture applications in all pre and post-harvest requirements, a report by FICCI and Tata Strategic Management Group (TSMG) said. The term ‘Plasticulture’ is referred to the use of plastics in agriculture in a scientific way that not only enhances the productivity but also improves the input resources. While releasing the report, prepared by FICCI and TSMG, in New Delhi on Friday, Hukmdev Narayan Yadav, Chairman of Parliamentary Standing Committee on Agriculture & Farmers Welfare, highlighted the plasticulture benefits in agriculture. Yadav suggested that plastics industry in India should encourage sustainable development by funding in technologies that safeguard the environment and stimulate growth whereas balancing economic requirements and monetary constraints. The report focused ...
48 Indian plastic makers take part in Expo Plast
The Dollar Business Bureau As many as 48 Indian plastic manufacturers will participate in the ‘India Pavilion’ of the 7th Expo Plast that started on Tuesday in Lima, the capital of Peru. The event will go on till this Friday, May 6. The Federation of Indian Chambers of Commerce and Industry (FICCI) is organising the ‘India Pavilion’ in Expo Plast Peru, the global exposition of the plastic industry. The Indian Ambassador to Peru Sandeep Chakravorty, inaugurated the India Pavilion. The members of the Organisation of Plastics Processors of India (OPPI) along with leading players of Indian plastics industry participated in the event. National Plastics Industry, Xpro and Chiripal Group are some of the partners supporting FICCI in this initiative. The MoUs were signed ...
Govt initiates policies to promote plastics industry
The Dollar Business Bureau The government has given emphasis on bolstering India’s plastic industry as it currently hosts over 30,000 processing units, 85-90% of which are small and medium-sized enterprises The government on Tuesday announced several industry friendly policy measures including a scheme for setting up need-based plastic parks to encourage the domestic plastic processing industry. “For the promotion of the plastic industry in the country, the government has taken various industry friendly policy initiatives such as deregulating the petrochemical sector and allowing 100% FDI under the automatic route to facilitate fresh investments,” Ministry of Chemicals and Fertilizers said in a statement. The government also introduced a scheme of setting up “Centres of Excellence (CoEs)”to improve the existing petrochemical ...
