Direct Port Delivery: To whose advantage?
By Abin Daya The Government is working to improve the ‘ease of doing business’ ranking of the country, and one of the areas of focus is the time it takes for manufacturers to get their imported raw materials and components, out of the port and into their factories. The numbers are not very encouraging, and it currently takes about 9-10 days to get a container out of the port and on its way to the manufacturer. With a view to improving this, the Direct Port Delivery arrangement was started in 2016. How is it faring? Please read on in this week’s update. The most important story of this week, definitely, is the 25 bps cut that the Monetary Policy Committee permitted on ...
Nikkei PMI has positive news for Indian manufacturing and services
By Abin Daya It just might be that things are slowly falling in place for the Indian economy. The Nikkei Purchasing Manager’s Index for Manufacturing and Services has positive news, both in performance and sentiments. What we now need is better capacity utilisation leading to improvement in private investment. A good monsoon this year should create that. Some indication of that is also seen in the performance of the infrastructure industries during the month of March. Performance improved from 1% growth in Feb, to 5% growth in Mar, though it was far from the 9.3% growth achieved a year back. While growth for the full year improved from the previous FY, the fertiliser industry seems to have been badly affected. One topic that ...
Value chains have altered global trade: Yes Bank
The Dollar Business Bureau Yes Bank on Monday released its second report on India's structural trade dynamics which underscored that value chains have changed the face of global trade in recent times. Cross country inter-linkages have increased much more than the growth in volume trade. It has allowed developing and emerging economies to integrate with global markets. Trade has seen amazing growth with production being outsourced, driven by the economic rationale of comparative advantage with benefits of cost reduction and productivity enhancement. From this global perspective, India’s share in global export of intermediates at less than 2% (as of 2014) indicates its limited integration in global value chains. However, India trades the most with its global peers in intermediates. As such, it becomes interesting to ...
Amended to Enable EOUs to become eligible for duty exemption on raw material/parts
Dated 24th November, 2015 | Copy of | Notification No.55/2015-Customs | In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.52/2003-Customs, dated the 31st March, 2003, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R.274(E), dated the 31st March, 2003, namely, In the said notification, in Paragraph 3, for the first proviso, the following proviso shall be substituted, namely:- Provided that where such finished goods ...
Chinese mouth freshener company to import Indian Areca nuts
Himanshu Vatsa | The Dollar Business China is likely to open a new avenue for the export of Indian Areca nuts, which have so far been used in chewing tobacco and pan masala within the country. According to the Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd, a Chinese mouth freshener making company is in the process of selecting Areca nuts from Karnataka and Kerala region so as to finalise the best quality of the crop to be used in their mouth fresheners. “A team of experts from Chinese firm Kou Wei Wang visited the arecanut growing region for the second time and shown keen interest in buying processed tender arecanut from here,” said Suresh Bhandary, Managing Director of ...
