Search Result for : South East Asia

The Dollar Business Bureau Prime Minister Narendra Modi said on Monday that most of the sectors of Indian economy are now open for foreign investment and out of that over 90% are on automatic approval route. “Most of the sectors of our economy are now open for FDI. More than 90% FDI sectors are on automatic approval route,” Modi said at the ASEAN Business & Investment Summit in Manila (Philippines). “India has emerged as a front-runner in attracting FDI. Compared to last three years, we have received 67% more FDI in this year. Now, we are a globally integrated economy,” he added. Prime Minister informed that India has taken several measures and reforms to improve ease of doing business such as simplified industrial licensing, ...

The Dollar Business Bureau  Japan's exports increased at a fast pace in July, indicating a revival in demand from China, the US and Southeast Asia, though the prices rose faster compared to the volumes for several products.  Exports rose over 13% in July to 6.5 trillion yen ($59 billion) compared to a year earlier, according to a data released on Thursday.  On the other hand, the imports into the country rose 16% to 6.1 trillion yen ($55 billion), supported by an increase in the shipments of oil and coal, the data said.  This resulted in declining of trade surplus by 17% to 419 billion yen ($3.8 billion) compared to a year earlier.  “Trade actually dragged on growth in the world's third-largest economy in the April-June ...

The Dollar Business Bureau  Commerce and Industry Minister Nirmala Sitharaman said on Thursday that if India and ASEAN (Association of South East Asian Nations) countries were to recognize their full potential for business then they need to fast-track the ‘corridors of connectivity’ to ‘corridors of trade’. “Barriers that impede trade must be removed besides enhanced utilization of the Free Trade Agreement (FTA),” she said while speaking at the ASEAN-India Expo and Forum, being held in Bangkok from August 2-5. Sitharaman said that for trade promotion, the introduction of non-tariff measures such as facilitating customs and operation procedures have to go a long way to ensure smooth movement of goods and services between the partner nations. The Minister termed Act East policy of India as “the pillar of its foreign policy”, ...

The Dollar Business Bureau Riding on a robust demand for its frozen shrimp and frozen fish in international markets, India exported 11,34,948 MT of seafood worth an all time high of $5.78 billion (Rs 37, 870.90 crore) in 2016-17 as against 9,45,892 tons and $4.69 billion dollars a year earlier, with USA and South East Asia continuing to be the major importers while the demand from the European Union (EU) grew substantially during the period. Frozen shrimp maintained its position as the top item of export, accounting for 38.28 per cent in quantity and 64.50 per cent of the total earnings in dollar terms. Shrimp exports increased by 16.21 per cent in terms of quantity and 20.33 per cent in dollar terms. ...

The Dollar Business Bureau Tata Steel today revealed that it is pursuing business-prospects in South East Asian markets since they offered better prices. TV Narendran, MD at Tata Steel India and South East Asia suggested around the side-lines of the India Steel Expo, that the market prices in steel have stabilized and South East Asian markets provided better prices. He further added that investments would fuel the steel sector’s growth in the country. The industry would have to either generate such funds or find specific investors willing to invest. As such he found the sector growing, and offering opportunities for capital equipment markets. The $25 bn, Mumbai headquartered Tata Steel is the tenth largest steel producer in the world with an annual capacity ...

The Dollar Business Bureau  A Memorandum of Understanding (MoU) on grid interconnections for smooth power sharing infrastructure in the South Asian region was finalised by seven partner countries of BIMSTEC in January 2017. Bangladesh, Myanmar, Nepal, Bhutan, Thailand, Sri Lanka and India had together initiated the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) in 2005 to formulate the "Plan of Action for Energy Cooperation in BIMSTEC".  Giving a nod to a proposal forwarded by the Ministry of Power on April 12, the Cabinet approved the signing of "Memorandum of Understanding for Establishment of the BIMSTEC Grid Interconnection".  Negotiations for the agreement have been ongoing for years. During the period, a total of five meetings were held under the banner 'Task Force for BIMSTEC on Trans-power Exchange', to reach consensus. Once a draft MoU ...

The Dollar Business Bureau Chief Minister of Assam, Sarbananda Sonowal, on Monday appealed to the farmers of the state to look for markets in South East Asian nations for dairy products and prodded the farmers to take up dairy farming to begin a milk revolution in Assam.  “Considering the Assam’s geographical advantage, the state has the capability to grow in the dairy products sector and can utilise the dairy market in the countries of South-East Asia,” the Chief Minister said while addressing dairy farmers on 'Celebration of Purabi Milk Day' in Guwahati.Sonowal cited the example of Amul, which has already set up a market for its products in the regions like Middle East, South East Asia and Australia.He mentioned that Amul has generated a revenue of ...

The Dollar Business Bureau    Tata Power on Monday said that it has identified four key regions to expand its global presence. The company will focus more on its overseas businesses in Africa, South East Asia, Middle East, SAARC (India Region). “We have created four regions- India & SAARC; Southeast Asia; Middle East cum Turkey; and Africa. We have deployed resources in each of these four regions to constantly update ourselves with the dynamics and scout for opportunities,” Said Anil Sardana, CEO & Managing Director, Tata Power. He said the company will invest in the region and in specific projects where it has “all the clearance and are able to mitigate risks to achieve the threshold returns”. “Tata Power continues to ...