Government likely to hike import duty on sugar to 60%
The Dollar Business Bureau The government is likely to increase the duty on the import of sugar to 60% from the present 40% in order to control the cheap imports and to maintain local prices. Any decline in the domestic prices of sugar will impact the millers' capacity to pay sugarcane dues to farmers. In the wake of lower sugar production expected during the current marketing year of 2016-17, the government, in April, had permitted 5 lakh tonnes of raw sugar import at zero duty in order to boost local supply. “We are monitoring global price movement closely. Prices in the international market are falling and some traders are keen to import even at high customs duty. So, we are considering raising the import duty,” ...
Indias Foreign Trade (Merchandise): November, 2014
Dated 15th December, 2014 | Press Release | EXPORTS (including re-exports) Exports during November, 2014 were valued at US $ 25960.57 million (Rs.160187.60 crore) which was 7.27 per cent higher in Dollar terms (5.68 per cent higher in Rupee terms) than the level of US $ 24201.83 million (Rs. 151583.34 crore) during November, 2013. Cumulative value of exports for the period April-November 2014-15 was US $ 215756.04 million (Rs 1305792.96 crore) as against US $ 205436.81 million (Rs 1231786.75 crore) registering a growth of 5.02 per cent in Dollar terms and growth of 6.01 per cent in Rupee terms over the same period last year. IMPORTS Imports during November, 2014 were valued at US $ 42821.63 million (Rs.264227.44 crore) representing ...
India Expo 2014 expected to boost India-UAE trade by $20 billion
The Dollar Business Bureau | @TheDollarBiz Aerial view of Dubai seaport (UAE). Dubai is considered as a major sourcing market for the Middle East, Africa, Europe, and also Pakistan. The Federation of Indian Exporters Organisation (FIEO) has said that the India Expo in Dubai (October 15-16, 2014) is expected to boost bilateral trade between India and United Arab Emirates (UAE) by over $20 billion and will open opportunities in both trade and investment. UAE is a major destination for Indian goods and a strategic re-export market for India. According to FIEO, UAE is a gateway to several regions including Africa, West Asia and Europe and collectively represents $84 billion business. While bilateral trade between India and UAE has traditionally been strong, ...
