Search Result for : Transport

The Dollar Business Bureau  India’s economic growth declined to 6.1% in the last quarter of January-March 2016-17, a four-quarter low, mainly due to adverse impact of demonetisation on economic activity. The GDP growth was 8% the same quarter a year ago.  After taking out indirect taxes, the figures seem to be grimmer. Gross value added (GVA), grew by just 5.6% in the fourth quarter — the lowest in nearly eight quarters, as per the official data released on Wednesday.  GVA is the difference between GDP (gross domestic product) and net indirect taxes.  The impact of note ban was evident in the data, with the growth being mainly supported by government spending and agriculture. In the given quarter, except government spending and agriculture, GVA grew only 3.8%, down from 8.4% in first ...

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  India and the UK on Friday decided to sign a memorandum of understanding (MoU) in urban transport sector to cooperate in policy planning, institutional organisation and technology transfer.  India’s Road Transport, Highways and Shipping Minister Nitin Gadkari, who is on a 3-day visit to the UK, concluded the bilateral cooperation agreement between the Transport for London (TfL) and India’s Road Transport and Highways Ministry, which would cover a broad range of solutions in transport mobility and related activities in urban settings. “The signing of the MoU will be completed through diplomatic channels shortly,” Gadkari said.  During his visit to the TfL headquarters in London, a presentation was given to Gadkari on strategy & policy reforms, experience of customers and data analysis ...

PTI Bhutan has announced that it would not be able to ratify the Bangladesh, Bhutan, India, Nepal motor vehicles agreement for the time being and asked the other stakeholders to go ahead with the plan without it. "While the other three countries have already ratified the agreement, the Royal Government of Bhutan is in the process of completing its internal procedures for ratification, to address the concerns raised by the domestic stakeholders," a Foreign Ministry statement said yesterday. To facilitate the early implementation of the Bangladesh, Bhutan, India, Nepal Motor Vehicles Agreement (BBIN MVA), the Bhutan government has decided to give its consent for the entry into force of the agreement among the three member states without any obligation to it, the ...

PTI Himachal Pradesh government has notified the guidelines for transparent auction and scientific mining and hiked the penalty for offences under the mining act.  The government has decided that the mining lease would be granted through open auction, officials said.   In order to curb illegal mining the state government has notified Himachal Pradesh Minor Minerals (Concession) and Minerals (Prevention of Illegal Mining,Transportation and Storage) Rules, 2015 providing for stringent punishment for illegal mining.    Imprisonment up to two years or fine up to Rs 25,000 or both has been made for those involved in illegal mining of minerals, their transportation and holding. The compounding of offence for illegal mining has been linked with quantity of illegally extracted material and in addition to the minimum compounding fee of Rs ...

The Dollar Business Bureau China will invest 4 trillion yuan (around $725 billion) to improve its rural transportation projects. The country will spend this huge amount on 300 new projects that will offer good transportation facilities to remote areas where more than 70 million poor people reside. This is a part of the three-year plan of the country to remove poverty by 2020, as reported by China Radio International. Zheng Jian with the National Development and Reform Commission said that the country has planned such a huge spending plan with an aim to bring all the people in China above the poverty line by 2020. Access to good transportation is an essential factor that helps people in coming out of poverty. Therefore, ...

The Dollar Business Bureau Larsen & Toubro (L&T), the Indian multi-national conglomerate, on Wednesday, announced that it has bagged orders worth Rs.1798 crore from both domestic and international companies. Its segments to remain busy for quite some time are; water & effluent treatment business, transportation infrastructure, power transmission & distribution, and building & factories. The company’s water & effluent treatment segment will provide sewage and sewer network systems worth Rs.565 crore in Saudi Arabia. The Indian construction giant has also received an order totalling Rs.497 crore from the National Highways Authority of India. The order has been given for engineering, procurement and construction of a four-lane road from Mukkola junction to Kerala/Tamil Nadu border of NH-47 (new NH-66), under NHDP phase-3 in the ...

Sharath Chowdary Hyderabad chapter of The Indus Entrepreneurs (TiE) organised a summit on Agri Innovation Summit for the benefit of entrepreneurs and startups in Agri-tech industry. The objective was to bring together policy makers, influencers, entrepreneurs, academicians, researchers, progressive farmers, investors, all under one roof to deliberate, discuss and find ways and means to rejuvenate India’s past glory.  Emphasising on the summit’s objective, Challa said, “During the Budget speech, Union Finance Minister has boldly addressed that farmers’ income will double in the next five years. Thus, keeping in mind the vision, TiE Agri- Innovation Summit is initiated.” He was of the opinion that, a way to achieve the vision is by increasing productivity and reducing inefficiency in the system, which will make ...