Search Result for : Tariff

The Dollar Business Bureau After remaining positive for the eight consecutive months, manufacturing sector activity in India declined in March to a low of five months, as the fresh business orders grew at a slower pace, and companies showed reluctance for recruitment, according to a private survey.                                                                                                                                                                                       The Nikkei India Manufacturing Purchasing Managers Index (PMI) declined to a five-month low of 51 in March from 52.1 in February. “This indicated the slowest improvement in operating conditions recorded by the survey since last October,” Nikkei said in a statement.  This is consecutively for the eighth months that the PMI remained above the mark of 50-point. In PMI parlance, a reading above the 50 point mark means growth, while below that mark shows a contraction.  Commenting on ...

The Dollar Business Bureau In retaliatory action against the duties on aluminium and steel by the US, China has imposed new tariffs of up to 25% on 128 US products ranging from frozen pork to wine and certain fruits to nuts, escalating the fears of a possible trade war between the two largest economies of the world. The imposition tariffs by Beijing are in response to the 25% on duty on steel and 10% on aluminium that have been levied by the President Donald Trump, according to a statement by the Chinese Finance Ministry on Sunday. However, Trump has temporarily excluded imports from the countries such as European Union, Brazil, Canada, Argentina, Australia, South Korea and Mexico.  Over the past few weeks, Chinese officials ...

The Dollar Business Bureau India’s exports would be impacted if the current tariff war escalates into a full-fledged trade war, apex trade body ASSOCHAM said, adding that there would be severe damage to the Indian economy too. “If the tariff war escalates into a full-scale global trade war, it would have a collateral damage for the Indian economy as well, with the country's exports taking a hit, current account deficit facing pressure and the GDP taking a setback,” the trade body said in a statement on Sunday. The Chamber further said that the move of the US administration to levy tariffs could lead to a further retaliation against the US but it may not have a direct impact on India. “Instead of de-escalating, the ...

By Abin Daya The power sector in India is one which has been classified as a ‘negative’ industry by a number of lenders due to the woes surrounding ailing thermal power producers. However, the renewable energy segment was always looked upon favourably due to the phenomenal growth exhibited in the past few years. This segment too might be going through a period of change as we see in this week’s update. While wind energy might be looking at a period of slow growth, changes in duty structures are what the solar power generators might have to encounter. On the infrastructure side, some good news for developers who have been trying to avail financing for projects under the Hybrid Annuity Model. While lenders ...

The Dollar Business Bureau Directorate General of Anti-Dumping & Allied Duties (DGAD), in its sunset review, has recommended the continuation of imposition of anti-dumping duty on pentaerythritol imports from China. “The Authority recommends that the revised and continuation of anti-dumping duties be imposed from the date of issue of notification by the Central Government on all imports of Pentaerythritol falling under chapter 29 of Custom Tariff Classification Act 1975, originating in or exported from China PR,” the DGAD said in a notification (F.No.15/01/2016-DGAD) on Friday. “After examining and analysing the facts and figures concerning injury to the domestic industry, the Authority concludes that despite the presence of anti-dumping duties, imports from China are entering at dumped prices,” the notification added. Pentaerythritol is an organic ...

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 ...

The Dollar Business Bureau The CBEC in its latest notification no., 63/2016 dated Dec 31, 2016 makes amendment to its previous notification 46/2011-Customs dated 01.06.2011 to provide deeper tariff concessions to specified goods imported from Philippines and other ASEAN countries under the India-ASEAN Free Trade Agreement beginning Jan 1, 2017. This could have a pronounced effect with the conclusion of the current financial year since tariff has been eliminated on as many as 800 items under 1252 tariff lines.  Also, according to reports published by Assocham, Indian tariff levels are higher than the tariffs of ASEAN, therefore India has relatively less to gain from its trade in goods with the 10 countries of ASEAN. As per the same report India’s imports from the ASEAN countries rose ...

The Dollar Business Bureau West Bengal Power Development Corporation is expecting to use coal from captive mines with a view to fuel its power generation units by October-November. The WBPDCL officials said that they are expecting to restart the mining activities in their own mines by October to November which would in turn help in mitigating power tariff. They also added that the de-allocation of the existing captive blocks by the centre in 2014 and also the arrangements of JVs to mine coals were scrapped forcibly. This has resulted in the disruption of supply of fossil fuels from captive sources. Coal India was able to match the gap and also acted as a boon to WBPDCL as the dry fuel demand had shrunk. WBPDCL consumes ...