Search Result for : Thailand

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 Based on its findings of the sunset review investigation, Directorate of Anti-Dumping & Allied Duties (DGAD) on Thursday recommended continuation of anti-dumping duty on the imports of ‘grinding media balls’ (excluding forged grinding media balls) from Thailand and China. “The designated authority…..in the matter of continuation of anti-dumping duty on imports of ‘grinding media balls’ (excluding forged grinding media balls), originating in, or exported from, Thailand and China imposed vide notification no.36/2012-Customs (ADD), dated the July 16, 2012, had recommended for extension of anti-dumping duty,” DGAD said in a notification no.34/2017-Customs (ADD), dated July 13, 2017. The DGAD seeks extension of the anti-dumping duty on the said products till July 15, 2018. “This notification, unless revoked earlier, shall remain in force ...

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 Due to an increase in dumping from China, India’s monthly imports of truck and bus radial tyres (TBR) recorded new highs averaging 1.2 lakh units in 2016-17. This has prompted the Automotive Tyre Manufacturers Association (ATMA) to reiterate its demands to DGAD seeking an early imposition of anti-dumping duty on the imports of TBR from China. Seeking an early redressal to help the domestic industry ATMA revealed the alarming figures that have been spiralling in the last few years. In its statement to the government, it said that the monthly numbers have now touched an average of 1.2 lakhs units in FY17 from a mere 40,000 in FY14. Imported tyres account for 40% of the replacement demand for ...

The Dollar Business Bureau The US’s decision to increase anti-dumping duty on shrimp imports could hit Indian exporters hard, rating agency ICRA said in a recent report. “Any hike in anti-dumping duty (ADD) for shrimp exports from India, by the US, should lead to higher prices for Indian shrimp imports to US, making Indian shrimp un-competitive,” it said. The US Department of Commerce (US DoC) has hiked the weighted average anti-dumping duty on shrimp imports from India to 4.98% from its earlier 2.96%. The US has of late emerged as the largest consumer of shrimps exported from India, especially after a disease (Early Mortality Syndrome) hit Thailand's total shrimp production, thereby affecting that country’s shrimp exports to the US. The US alone accounts for almost 39% ...

The Dollar Business Bureau Thailand on Thursday invited Indian companies to enhance their investments in its country, as the two countries looked to explore cooperation in trade and investment, defence, security and tourism sectors, during Prime Minister Prayut Chan-o-Cha’s three-day visit to India.  "Trade between two countries is quite low and there is room for more cooperation between Thailand and India," Thailand Board of Investment Deputy Secretary General Chokedee Kaewasang said on Thursday in New Delhi. "Thailand and India are in a unique position to help each other. Thailand will help India in getting access to ASEAN," Kaewasang said.  Chan-o-Cha met Prime Minister Narendra Modi on Friday, and the two leaders discussed ways to boost bilateral trade, deal with the threat of terrorism and expand maritime ...

The Dollar Business Bureau Thailand's biggest meat producer, Charoen Pokphand (CP) Foods, is aiming to start supplying chicken to McDonald's Corp and KFC in India in the coming few months. CP Foods is planning an investment of around $400 million in India in the next 20 years. Recently, the company started a food-processing unit in the state of Andhra Pradesh. CP Foods is well known in India for its famous Five Star Chicken outlets. Sanjeev Pant, Senior VP - Food Business, CPF (India) Pvt Ltd, said that the company was in discussion with many fast food chains in India, such as Yum Brands Inc's KFC and McDonald's Corp. He further said that CPF will be associated with these food chains ...

The Dollar Business Bureau In the wake of the slow progress of the much anticipated India-Thai free trade pact, India has been urged to step up the comprehensive talks with Thailand. Thailand first wants to resolve the key details of the pact, leaving aside the minor vexing issues for further discussions, said Thai Commerce Minister Apiradi Tantraporn after holding a meeting with the Indian ambassador to Thailand, Bhagwant Singh Bishnoi. In 2003, India and Thailand inked a framework agreement encompassing the liberalization of trade. Both the sides agreed to commence talks for the pact and establish FTA by 2010. However, the talks were stalled for almost a decade. In 2015, the FTA talks were resumed by Prayut Chan-o-cha government of Thailand. The talks in ...