tag:blogger.com,1999:blog-46370294589171830902012-01-29T17:43:52.866+05:30ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.comBlogger3631100tag:blogger.com,1999:blog-4637029458917183090.post-68700327808108220852012-01-29T17:43:00.001+05:302012-01-29T17:43:52.878+05:30

It all seemed too good to be true. Between May and August last year, India's growth in exports rose at a dizzying pace every month. In July 2011, exports were $29.3 billion, 82% higher than a year earlier.  Coming at a time when the world economy was widely seen to be slowing, what with unemployment in the US, and the problems in the eurozone, both key export markets for India, the export growth

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-13188737854760559872011-10-14T11:09:00.003+05:302011-10-14T11:09:57.053+05:30

Export-Import (Exim) Bank of India, the apex financial institution fully owned by the government of India, will be releasing a fresh line of credit to Africa in the next three years, according to bank’s managing director T C A Ranganathan. Speaking on the sidelines of the inaugural day of the India-Africa Business Partnership Summit here on on Wednesday, Ranganathan said: “At present, our

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-75123431615724655582011-10-14T11:07:00.001+05:302011-10-14T11:07:26.091+05:30

NEW DELHI: The government on Thursday announced a Rs 900-crore package for exporters to help them tide over the slowdown in developed markets and rising input costs. RBI has already announced interest subsidy of 2% on rupee export credit for handicrafts, handlooms, carpets and small and medium exporters. Along with the interest subsidy the total relief package for exporters stands at nearly Rs

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-80886607865779265312011-09-23T15:53:00.000+05:302011-09-23T15:53:54.801+05:30

Exporters will get lower tax refunds from October 1, as the Union finance ministry on Friday announced a new Duty Drawback Scheme, ending the 14-year-old Duty Entitlement Passbook Scheme (DEPB). To provide a smooth transition from the popular tax credit scheme to the drawback scheme, the ministry said the drawback rate would have a floor rate of 5.5 per cent of the value of export consignments

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-69629077428439722572011-09-23T15:47:00.003+05:302011-09-23T15:48:01.535+05:30

NEW DELHI/KUALA LUMPUR: India is considering an industry request to raise import duties on processed palm oil, government and industry sources said, after Indonesia lowered its export taxes on the product -- a move seen as dealing "a death blow" to Indian refineries. India, the No 1 buyer of vegetable oils, has already begun importing more of refined, bleached and deodorised (RBD) palm olein

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-60481168966951353282011-09-16T20:54:00.000+05:302011-09-16T20:54:56.564+05:30

Alarmed by the growing instances of fraud being committed by Chinese companies, to which Indian small and medium firms are falling victim, New Delhi has swung into action and has — for the first time — done an analysis on the types of trade disputes. The government has also cautioned Indian companies against trusting business-to-business (B2B) sites before zeroing in on a Chinese partner. It has

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-71873902141157637572011-09-16T20:50:00.001+05:302011-09-16T20:50:25.965+05:30

NEW DELHI: Tax incentives for exporters will be lowered from Oct 1 as the government said Friday it will do away with the popular tax refund scheme, Duty Entitlement Pass Book (DEPB), and bring them under an existing duty drawback scheme from the beginning of next month. At the same time, the number of items eligible for the drawback scheme have been increased by 1,100 to take the number of

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-44622422342360058072011-01-06T11:14:00.000+05:302011-01-06T11:15:32.802+05:30

NEW DELHI: The government is likely to keep peak Customs duty rate of 10% unchanged in the forthcoming budget to protect the domestic industry as a number of countries look to export their way to growth. India had committed to lowering its import duty to the Asean level of 4.5%-5 % by 2010 but the financial crisis triggered economic turmoil caused it to pause the reduction. “The general view is

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-86386326295526095042011-01-05T16:30:00.000+05:302011-01-05T16:31:24.743+05:30

In recent times, huge import of Chinese silk fabrics is posing a threat to the Varanasi silk industry, largely dominated by MSMEs. To voice this concern, the silk industry even observed a 1-day strike in late November 2010, but the Centre remained unmoved. In recent times, huge import of Chinese silk fabrics is posing a threat to the Varanasi silk industry, largely dominated by MSMEs. To voice

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-68149081507496140292011-01-04T22:17:00.001+05:302011-01-05T16:33:43.348+05:30

Soaring cotton yarn prices followed by 25-40 per cent rise in man-made fibres (MMF) across various categories since October 2010 is making the export industry see red.Export of MMF textiles declined by one per cent to Rs 3,852 crore during the second quarter ended June 2010, compared to the corresponding period in the previous year. The export scenario worsened with exports dropping by around 20

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-76810348096730782542011-01-04T22:15:00.002+05:302011-01-05T16:36:46.280+05:30

The Engineering Export Promotion Council (EEPC) has suggested the formulation of a Technology Upgradation Fund Scheme (TUFS) for the engineering sector. It feels this will help India achieve the target of doubling exports in three years.The department of commerce is coming up with a strategy to double total exports in the next three years. The engineering sector (comprising 60-65 per cent SMEs)

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-83777514117549451292011-01-04T22:11:00.003+05:302011-01-05T16:35:53.523+05:30

With exports registering a healthy growth of 26.5 per cent during November 2010 at $18.8 billion, the Commerce Ministry officials were confident that the overall exports would easily breach the $200 billion target set for this fiscal.With the Western economies showing signs of revival and the formula to look out for new areas and markets for Indian products paying rich dividends, India's exports

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-74173999199506661982011-01-04T22:08:00.002+05:302011-01-05T16:37:27.570+05:30

With sugar production set to exceed domestic demand, the government has decided the zero duty regime on sugar imports to lapse, which in effect will restore 60% duty on the sweetener. Import duty on sugar was abolished in early 2009 to boost domestic supply because of a short fall in output in 2008-09 sugar year (October –September). Before that the duty on sugar import was 60%. The duty free

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-69225916325931708842010-01-28T11:46:00.001+05:302011-01-04T22:07:24.601+05:30

DAVOS, Switzerland: Political leaders, central bankers and financiers at the World Economic Forum have attacked China's monetary and trade policy and questioned its ability to tackle an overheating economy.Top Chinese officials face an increasingly difficult task insisting that Beijing is acting in the interest of the world economy by keeping its yuan currency weak against the dollar and

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-34005217563544285592010-01-28T11:15:00.000+05:302010-01-28T11:16:12.167+05:30

The Central Board of Excise and Customs (CBEC) has recommended an overhaul of the Special Economic Zone (SEZ) Act 2005 saying it has detected gross violations of duty and tax concessions causing it to suffer a revenue loss of Rs 1,75,000 crore to date.Broadly, the CBEC report has sought the removal of numerous exemptions, drawbacks and concessions that have turned SEZs into tax-avoidance conduits

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-29103956158545516772010-01-28T11:13:00.001+05:302010-01-28T11:13:41.603+05:30

New Delhi: The practice of a few gems and jewellery units in special economic zones (SEZs) importing European designer jewellery duty-free for wealthy Indian consumers is likely to bring tighter regulation for all SEZ units. About five gems and jewellery units in SEZs are now fighting legal cases against the Centre for allegedly abusing their licences to import raw materials duty-free in order to

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-67359590864987478982010-01-22T10:54:00.000+05:302010-01-28T10:59:14.470+05:30

For the first time ever, India has issued a demarche to China on an economic issue. The stern diplomatic protest follows the dissatisfaction over the lack of specific commitments offered by the Chinese government to facilitate export of Indian goods and services to the latter, which are increasingly coming under various restrictions.The unusual move was taken by India at the conclusion of the

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-4453937132253583262010-01-19T11:16:00.004+05:302010-01-19T11:24:15.703+05:30

Budget may scrap DEPB schemeOne of the most favoured duty reimbursement schemes among exporters — the Duty Entitlement Passbook (DEPB) scheme — is likely to be scrapped, as the government gears up to introduce the Goods and Services Tax (GST) from April 1.The scheme, which was extended till December 31 in the Foreign Trade Policy 2009-2014, is widely viewed as one of the best incentive schemes by

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-90129507045529853342010-01-12T22:29:00.001+05:302010-01-12T22:30:34.339+05:30

India to spend additional $110 mn on export pushNEW DELHI: India will give financial incentives to exports of around 2,000 products including those in engineering, electronics and chemicals, Commerce Minister Anand Sharma said on Tuesday. A senior trade official said the boost, to support a nascent recovery in India's exports sector, would cost upto an additional Rs 5 billion ($110 million) in

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-77547285633069197092010-01-11T16:34:00.003+05:302010-01-12T22:32:28.087+05:30

After thirteen months of contraction, exports grew strongly in November last year, but a number of sectors are continuing to struggle in the highly competitive world market. In an exclusive interview commerce secretary Rahul Khullar talks about why it is important not to suddenly withdraw the stimulus package given to the industry merely on the basis of numbers and other issues. Excerpts: Exports

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-43909696724205381732010-01-11T16:17:00.002+05:302010-01-11T16:20:08.860+05:30

With export decline getting arrested, commerce and industry minister Anand Sharma is now setting his sights higher. In an interview with ET NOW, he explained his vision for rapid economic growth, poverty alleviation, food production, FDI policy and the role of SEZs in the country’s export growth. Excerpts:Has the Indian economy recovered from the impact of global slowdown?The slowdown was

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-33104425341842625672010-01-11T16:04:00.001+05:302010-01-11T16:04:51.215+05:30

Being hit badly by recession in western economies like the US and Europe, which form the primary markets for Indian garment exporters, the industry may close the financial year 2009-10 at around $ 10 billion, similar to last year. While the latter part of financial year 2009-10 may have seen an improvement in western economies, garment exporters in India believe the impact of recession was bad

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-61208199555336672182010-01-11T16:01:00.001+05:302010-01-11T16:01:47.109+05:30

Jan. 11 (Bloomberg) -- India’s exports increased to a 15- month high in December as recovery in the global economy boosted demand for the South Asian nation’s products.Overseas shipments surged to $14.6 billion after rising 18.2 percent from a year earlier in the previous month, the first increase in 14 months, Trade Minister Anand Sharma told reporters in Mumbai today. Exports are rebounding

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-43874784011150588202010-01-11T15:59:00.002+05:302010-01-11T16:00:30.099+05:30

Jan. 11 (Bloomberg) -- Rice export prices will probably be sustained at about $600 per metric ton after drought and floods damaged crops in India and the Philippines, an agricultural economist said. Rice futures rallied in Chicago. “It is safe to say that the rice price is not going back to $300 per ton any time soon and is likely to remain around $600 in the near term,” Samarendu Mohanty, a

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-72128362022156414312010-01-11T15:59:00.001+05:302010-01-11T15:59:51.081+05:30

VADODARA: Copper exporters in the country have teamed up against the existing value-addition norm and have sought a change in the exim policy.The industry imports raw copper and exports finished products. As per the norm fixed by the ministry of commerce, unless the exporters achieve 15% value addition, they cannot import material of the same value for their exports. Simply put, exporters cannot

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-78940011643043161702010-01-09T16:10:00.000+05:302010-01-11T16:11:31.238+05:30

MUMBAI: In a strategic initiative aimed at augmenting the scale of the $3.4 billion man-made textile exports sector, the nodal body, Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) is organising ‘Source India 2010’, a B2B event to attract more buyers especially from the Gulf and African continent. The event is to be held on January 28 and 29 in Mumbai under the aegis of the Ministry

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-80959263740338957042010-01-09T16:06:00.001+05:302010-01-11T16:07:04.450+05:30

NEW DELHI: The Centre on Friday took a twin step of putting a virtual cap on sugar exports and allowed unrestricted steel imports to arrest their spiraling prices.Worried over soaring prices, which has hit the common man hard, the centre is also exploring the ways of processing the imported raw sugar lying at the ports following up banning its process in the state. The government gave 15 more

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-13069843253330753442010-01-08T16:15:00.000+05:302010-01-11T16:15:38.372+05:30

Contrary to what the finance ministry has said about rolling-back of the stimulus packages to industry, the commerce ministry is considering extending sops to select export sectors in the next few days. Commerce and industry minister Anand Sharma told reporters in New Delhi on Thursday that the ministry would take a decision on the sectoral stimulus within a few days.Sharma said his ministry had

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-86369133900797123732010-01-07T16:30:00.000+05:302010-01-11T16:31:26.878+05:30

NEW DELHI: Union minister for textiles Dayanidhi Maran on Wednesday criticised the ailing domestic industry for being too generalised in selecting export items and also concentrating only on US and European Union (EU) markets. “We don’t look beyond USA and the EU, our product mix is very gen-eralized , our product basket is limited to tops, trousers, T-shirts and some hosiery items, our export

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-57723866912270827442010-01-06T16:29:00.001+05:302010-01-11T16:30:09.226+05:30

LUSAKA: India on Wednesday offered lines of credit totalling $125 million to Zambia, even as both countries agreed there was need to reinvigorate ties to reflect changed times.On the second day of his visit to Zambia, the first by an Indian leader in two decades, Vice President Mohammed Hussain Ansari held formal discussions with George Kunda, the Zambian vice president. He also called on

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-24918279532944190262010-01-06T11:17:00.000+05:302010-01-28T11:18:29.777+05:30

New Delhi: The commerce ministry has proposed measures to make it easier for developers to exit special economic zones (SEZs) that have been struggling with a contraction in global demand for goods produced at the tax-free enclaves.Specific provisions for the denotification of SEZs have been been put up for public comments till Thursday, after which they would be formally notified. The ministry

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-38922103381877129122010-01-04T16:27:00.000+05:302010-01-11T16:28:44.315+05:30

COIMBATORE: Even as the New Year has cheered the export prospects for thousands of knitwear units at Tirupur, what has dampened their spirit isthe continuing strike by the dyeing units in support of their demand for sharing the cost of effluent treatment by the Centre and Tamil Nadu Government.On Monday, the indefinite strike spearheaded by Dyers association of Tirupur entered 11th day and the

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-40036301039940625182010-01-01T16:26:00.000+05:302010-01-11T16:26:52.125+05:30

NEW DELHI: India will hold a fresh round of discussions with the US in the New Year on protectionist measures being taken by Washington in the backdrop of the global economic slowdown.Measures such as the proposed withdrawal of tax breaks for companies that outsource to countries like India and various non-tariff barriers imposed on imports in the form of stringent quality standards will be in

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-7634299446315302942009-12-30T16:12:00.000+05:302010-01-11T16:13:53.005+05:30

Mumbai: Shares of six steel product makers rose on the Bombay Stock Exchange on Tuesday after the government increased export duty on iron ore lumps to 10% from the earlier 5% and imposed a 5% export tax on iron ore fines.Shares of Ispat Industries closed 7.75% above the previous close (Thursday last week, since the markets remained closed on Friday, December 25, and Monday), JSL Ltd was up 4.78

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-7799985113880008122009-12-15T16:08:00.000+05:302010-01-11T16:09:46.130+05:30

Dec. 15 (Bloomberg) -- India’s exports climbed for the first time in 14 months as an economic recovery in the U.S. and Europe increased demand for the South Asian nation’s products before Christmas.Overseas shipments rose 18 percent to $13.3 billion in November from a year earlier after sliding an average 21 percent per month since October 2008, according to data provided by the trade

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-61233293117911293632009-09-04T11:15:00.000+05:302009-09-04T11:16:13.854+05:30

The Supreme Court has said profits derived from the Duty Entitlement Passbook Scheme and the Duty Drawback Scheme are incentives and cannot be termed as profits from business to claim income tax deductions. A bench headed by Justice S H Kapadia dismissed a batch of petitions filed by various firms and held that the duty drawback receipt/DEPB benefits are incentives that flow from government

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-58569549542337142322009-08-27T11:11:00.000+05:302009-09-04T11:15:07.525+05:30

NEW DELHI: Exporters, especially those from labour-intensive sectors such as textiles, gems & jewellery, marine, handloom and leather, havebeen handed yet another basket of incentives to increase their competitiveness in the shrinking world market. The foreign trade policy (FTP), announced by commerce and industry minister Anand Sharma on Thursday, seeks to help exporters establish a stronger

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-29739901155002297342009-08-19T17:33:00.001+05:302009-08-24T17:34:33.871+05:30

NEW DELHI: The commerce ministry’s decision to accept the Mashelkar committee’s revised report that recommends not to restrict patenting to newdrugs has come in for strong criticism from health activists and some generic drugmakers even as patent experts supported the move that’s in line with international norms. Earlier this month, the ministry accepted the controversial report, first released

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-67351814537243584802009-08-19T11:32:00.000+05:302009-08-19T11:34:18.990+05:30

NEW DELHI: With Congress’ rivals stepping up attack on the government for signing free trade agreement (FTA) with Association of South East AsianNations (Asean), defence minister AK Antony on Tuesday promised to take corrective measures to insulate the agricultural sector. “If there are shortcomings in the agreement, the group of ministers will recommend corrective measures,” reports from Kochi

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-28521354994622418212009-08-18T11:26:00.001+05:302009-08-18T11:28:10.910+05:30

The five-year Foreign Trade Policy (FTP), to be unveiled on August 27, is expected to give incentives to Indian exporters to widen their global markets beyond the US, EU and Japan in the face of the economic crisis in these key destinations.Commerce and Industry Minister Anand Sharma, who apprised Finance Minister Pranab Mukherjee today about the difficulties being faced by exporters, said: “We

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-17274025880669415052009-08-18T11:00:00.001+05:302009-08-18T11:35:25.166+05:30

The Russian government has allowed 46 Indian seafood companies to re-start their exports to the country in lieu with the signing of a protocol between India and Russia. Chairperson of Marine Products Export Development Authority (MPEDA) had recently visited Russia and sorted out the various issues pertaining to exports to that country. Russia had banned import from India during June this year,

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-5235400583603384302009-08-17T11:37:00.001+05:302009-08-18T11:40:05.609+05:30

KATHMANDU, Aug 17: Nepal could defer signing of the Treaty to Control Unauthorized Trade, which was scheduled during the Nepal's Prime Minister´s upcoming visit to India, after New Delhi declined Nepal´s request to recognize re-export of third country goods through the authorized agents in Nepal.A high-level government source said if the two countries fail to iron out the differences over the

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-71611094190040557592009-08-15T11:30:00.000+05:302009-08-18T11:32:25.852+05:30

NEW DELHI: Indian negotiators who had tried to bargain a good deal with 10-member regional grouping Asean for the last six years finally gave away much more additional market access than their counterparts from the Asian regional trading bloc.Though India’s and Asean’s offer to each other’s imports is similar at around 96% under the recently signed free trade agreement (FTA), India has actually

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-2327489480949176172009-08-14T11:25:00.000+05:302009-08-18T11:26:29.205+05:30

India and the Association of South East Asian Nations on Thursday signed a Free Trade Agreement, which took nearly six years to negotiate. The FTA, relating only to goods, was signed by Union Commerce and Industry Minister Anand Sharma and his ASEAN counterparts at a ceremony in Bangkok after the two sides held annual consultations.The accord, India’s first with a trade bloc, will cover 11

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-80711941402476147422009-07-09T11:37:00.000+05:302009-07-09T11:39:37.186+05:30

NEW DELHI: The supply of fake drugs from China to the African sub-continent is not limited to Nigeria, it now appears. The Kenyan government has seized two container loads of medicines shipped from Shanghai bearing a 'government of Kenya' label falsely indicating that it was manufactured in Kenya, a communication from the Indian High Commission in Nairobi to the Indian government has

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-651702425996341762009-07-09T11:33:00.000+05:302009-07-09T11:34:10.602+05:30

NEW DELHI: India’s exports saw a 29% drop in June 2009, Union minister for commerce & industry Anand Sharma told the Rajya Sabha on Wednesday.The country’s exports are experiencing a declining trend for the last nine months. The growth in exports had registered a 29.2% drop at $11 billion in May 2009. The decline was 34% in April 2009. As per a sample study conducted by the commerce department,

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-37802414431218885522009-07-08T11:35:00.000+05:302009-07-09T11:36:08.639+05:30

NEW DELHI: Government on Wednesday said it is against creating barriers against imports into the country as India itself has been opposing the protectionist policies which blocked the flow of global trade."Our position has been clear that we are against any protectionist barriers coming up, which many countries have shown tendency to go in for, which is impacting the flow of global commerce,

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-5807867798652791132009-07-02T15:24:00.000+05:302009-07-02T15:25:35.564+05:30

New Delhi (PTI): Following are the highlights of the pre-Budget Economic Survey 2008-09.# Unleash reforms - phase out cesses, surcharges and transaction taxes (such as commodities transaction tax, securities transaction tax and Fringe Benefit Tax)# Introduce new Income Tax Code that results in neutral corporate tax regime# 7-7.5% growth possible in 2009-10# Allow 49% FDI in defence and insurance;

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-57332669854880446482009-07-02T15:22:00.000+05:302009-07-02T15:23:50.408+05:30

New Delhi (PTI): The government should cut customs duties and streamline export promotion schemes and pay special attention to infrastructure to overcome the contracting exports on account of recession in India's major trading partners, the Economic Survey said on Thursday.The Economic Survey cautioned that the global meltdown, particularly in the US and EU, is expected to impact the country's

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-15545395389979800782009-07-02T15:16:00.000+05:302009-07-02T15:18:02.011+05:30

NEW DELHI: China has retaliated against India's ban on its dairy products, putting the two neighbours with a legacy of estrangement on the brink of a trade war.China is annoyed with India's decision to extend the ban on its milk and milk products, which expired on June 24, by another six months until December 24. It has threatened to ban Indian products in retaliation. In a letter to the Indian

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-59790088552828533772009-06-27T15:20:00.000+05:302009-07-02T15:21:04.738+05:30

NEW DELHI: Exporters, hit hard by the global economic slowdown, have sought exemption from payment of service tax in the forthcoming Union Budget.In a meeting with the revenue department, exporters pointed out that while the government allows refund of taxes on a number of services, very little refund has actually taken place because of the cumbersome process involved. According to Delhi

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-67318156121911704462009-06-27T15:19:00.000+05:302009-07-02T15:19:57.667+05:30

PARIS: India plans to convene a meeting of key world trade ministers in September to capitalise on new momentum in global commerce talks, Indian Commerce and Industry Minister Anand Sharma said today."In early September we're looking at a ministerial meeting," Sharma told AFP on the sidelines of informal world trade talks in Paris taking place this week. Sharma said the talks in Paris were "

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-75699799411231735112009-05-12T12:10:00.000+05:302009-05-12T12:11:20.193+05:30

New Delhi, May 11; In what appears to be a victory for users, the Government has deferred a decision on a proposal to impose provisional safeguard duty on hot rolled coils/sheets/strips. It said the matter needs to be examined further after taking views of the consuming industry. “We felt that not enough homework had been done and there is a need to consult both the domestic industry and other

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-36285784692776853892009-05-12T12:09:00.000+05:302009-05-12T12:10:08.288+05:30

NEW DELHI: The government on Monday extended a deadline for exporting 55,000 tonnes of non-basmati rice to four African countries by three months, just a few days after the Commerce Ministry gave permission for export of 10 lakh tonnes (one million) of rice to 21 other African countries.In a statement issued here by the Agriculture ministry said that State Trading Corp of India (STC) would export

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com1tag:blogger.com,1999:blog-4637029458917183090.post-81058009813050481242009-05-12T12:07:00.001+05:302009-05-12T12:09:06.831+05:30

Groundnut exporters may find it difficult to make it to European Union (EU) markets. Indian Oilseeds and Produce Export Promotional Council (IOPEPC), earlier known as Indian Oilseeds & Produce Exporters Association (IOPEA), has sounded a red alert to groundnut exporters that EU may ban groundnut imports from India on account of presence of aflatoxin (a kind of fungi).During an awareness programme

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-36517868508049326942009-03-23T14:14:00.000+05:302009-03-23T14:15:13.903+05:30

Mumbai (PTI): EEPC India, the apex body of engineering exporters from India, has urged the government to provide supportive measures for Micro, Small and Medium Enterprises (MSMEs) sector, a top industry official said here."In the present uncertain market scenario, engineering exporters require support measures, specially the MSME state in order to survive in these hostile times," EEPC India

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-42562649870760744622009-03-23T14:12:00.000+05:302009-03-23T14:13:58.702+05:30

NEW DELHI: Hit by a demand slowdown and meltdown in the global economy, India Inc has its wish list ready for the next government, withIndustry sector-specific policy reforms and tax sops on top of the agenda to tide over the crisis. The ailing export sector, which in October witnessed a decline for the first time in a decade due to the contraction in global trade, has sought an exemption from

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-3899692815224575552009-03-20T18:20:00.002+05:302009-03-20T18:21:20.109+05:30

NEW DELHI: The finance ministry should exempt companies in special economic zones (SEZ) from paying tax on the services they consume instead of making them seek refunds, according to the commerce department. Earlier this month, the finance ministry had notified that instead of being exempt, companies within SEZs would have to claim refunds for the tax they pay on services.“We have written to the

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-52574978994691605832009-03-18T14:10:00.001+05:302009-03-23T14:19:12.624+05:30

NEW DELHI -- India Wednesday extended the import of pulses at zero customs duty and the ban on exports on the products for another fiscal year due to decline of the mass consumption food product in the country. "The decision today is to extend zero duty on import of pulses for one more year beyond March 31, 2009. Pulses can now be imported at zero duty for one more year till March 31, 2010,"

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-6564164153903665762009-03-09T22:44:00.001+05:302009-03-09T22:47:41.827+05:30

Affected by the global economic crisis, China's exports dropped rapidly in the fourth quarter of 2008. In December, China's export growth was -2.8%, bringing the growth rate for 2008 to 17.2%, which is 2.1% lower than the growth in the first 11 months.However, China's software industry still experienced fast growth in 2008. This year, China's software exports reached US$14.2 billion, up 39% year

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-42822515378251124082009-03-09T22:42:00.001+05:302009-03-09T22:44:15.376+05:30

The impression that India could do anything China could do, may not be entirely true. (Aijaz Rahi / AP)John Chambers, the head of Cisco, was a salesman before he was a technologist. So when he found himself in front of a thousand of India’s top software executives giving the keynote speech at the Nasscom annual summit earlier this month, he knew exactly what to tell them to guarantee a good

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-24715928073290213722009-03-09T22:29:00.000+05:302009-03-09T22:30:51.977+05:30

Indian exporters expect to cut about 10 million jobs by March as the global recession prompts overseas buyers to cancel orders."The year 2009 is going to be the worst year in history," A Sakthivel, president of the Federation of Indian Export Organisations, told reporters in New Delhi. "Exporters don't have orders beyond January and if the present trend continues, there will be approximately 10

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-73246830339896610422009-03-09T22:27:00.001+05:302009-03-09T22:31:16.081+05:30

Washington (IANS): With exports from India declining in October for the first time in a decade due to negative growth in world trade in the last quarter of 2008, fears have surfaced over protectionist backlash, says a new World Bank report.Fall in global trade has been underway for some time, said the bank in a paper for the meeting of the Group of 20 finance ministers and central bank governors

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-54628089405998370772009-03-09T22:25:00.001+05:302009-03-09T22:25:42.428+05:30

New Delhi (PTI): India's rice exporters at an emergency meeting here on Monday decided to approach the government and demand an immediate reduction of the minimum export price to enable them compete with rival Pakistan.It was decided that the All India Rice Exporters Association (AIREA) would approach the Commerce Ministry to either abolish the Minimum Export Price (MEP) of Basmati rice or cut it

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-23123232522029806672009-03-09T22:23:00.000+05:302009-03-09T22:24:22.421+05:30

SURAT (Reuters) - For Jaysukhbhai Patel, a job cutting diamonds in Surat was the ticket to a better life for him and his family of four.Last November, Patel's ticket expired when the small factory he worked in was shut like hundreds of others in India's diamond hub, as demand for the gems dipped in the United States and Western Europe, leaving more than 100,000 workers without jobs."I have worked

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-37946160841616926872009-03-09T22:20:00.000+05:302009-03-09T22:21:15.534+05:30

Kochi (PTI): With global downturn causing a slump in seafood exports from the country, Marine Products Export Development Authority (MPEDA) will be embarking on a campaign to promote Indian marine products in markets abroad, especially in US, Europe, South Africa and South America.MPEDA Chairman, G Mohan Kumar, has left for promoting Indian seafood products in South African and South American

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-63990665080229288662009-03-07T22:13:00.001+05:302009-03-07T22:13:52.641+05:30

Kathmandu (IANS): India and Nepal are seeking to update their nearly 60-year-old trade treaty with the new draft expected to be ready before India goes to staggered polls from April 16.The draft will be signed into a fresh agreement by the new federal government that comes into being in India in June, officials said. At the end of the two-day bilateral talks in Kathmandu to review the 1950 treaty

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-71827436829178638862009-03-06T22:11:00.000+05:302009-03-07T22:12:46.872+05:30

BEIJING: China has revealed it is facing a stark employment situation with export oriented factories finding it difficult to survive thefinancial crisis. The government has dramatically scaled down its target on foreign trade to eight per cent in 2009 against the 17.6 per cent achieved last year. India has set an export target of 25 per cent for 2008-2009 and most economists say New Delhi will

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-91834391748789854172009-03-05T22:15:00.000+05:302009-03-07T22:16:28.453+05:30

(BSS, Dhaka); RMG exporters to India have complained of a number of impediments severely impacting the supply of 8.0 million pieces of duty-free garments started under SAFTA framework from the middle of last year.Some exporters in writing informed the Export Promotion Bureau (EPB) of the snags recently, official sources here said adding the agency in turn has passed the complaints to the

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-47459766984616773972009-03-04T22:21:00.002+05:302009-03-07T22:23:44.869+05:30

The Indian Government has allowed special economic zones or SEZ units and developers to claim refund of service tax, irrespective of whether they are consumed inside or outside the zone. However, the benefit would flow in the form of refund of service tax and not through an exemption.Until now, the government exempted developers from paying a tax on services that were consumed within the zone,

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-11929777099879507332009-02-25T08:49:00.001+05:302009-02-25T08:50:31.787+05:30

New Delhi, Feb. 24 The Export Promotion Council for EOUs and SEZs (EPCES) on Tuesday hailed the Government decision to end discriminatory tax treatment in respect of those exporters with a unit outside the SEZ as well as a unit in the SEZ, vis-À-vis those operating only in the SEZ. However, it sought a clarification through a circular from the revenue department. In his reply to the Interim

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-40560349655685387912009-02-25T08:47:00.001+05:302009-02-25T08:49:11.861+05:30

New Delhi, Feb. 24 The Finance Minister, Mr Pranab Mukherjee, today gave up Rs 30,000 crore of revenue on an annual basis when he announced a slew of indirect tax concessions to bolster sagging demand for industrial goods and services.This revenue foregone has not been factored in the Budget estimates for 2009-10. He has also allowed the States to borrow more in 2009-10 for investing in

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-78011738351051467152009-02-25T08:39:00.002+05:302009-02-25T08:44:14.410+05:30

Following are the extracts from the reply of Finance Minister, Shri Pranab Mukhejee on Interim Budget 2009-10, in Lok Sabha, on 24.2.2009 related to new concessions on Excise duties and Service Tax:Within the constitutional constraints, I have some flexibility which I want to use to provide further stimulus to the economy. Even though the signals are encouraging, the full impact of the recession

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-49345821581615073202009-02-24T08:58:00.000+05:302009-02-25T08:58:58.498+05:30

NEW DELHI: Industry lobby Federation of Indian Chambers of Commerce and Industry (FICCI) Monday urged the government to set up a separate export promotion council (EPC) for India's automotive industry to help it achieve higher share in the global market."A separate EPC with the primary objective of helping the Indian auto sector to achieve 5 percent share in global trade in the next 10 years

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-29523461140656600872009-02-24T08:55:00.000+05:302009-02-25T08:56:10.054+05:30

NEW DELHI,: The government is likely to remove several procedural bottlenecks for exporters in the interim foreign trade policy to be unveiled by Commerce and Industry Minister Kamal Nath here on February 26. The policy, though interim in nature, will address immediate concerns of exporters who are facing shortfall in demand for Indian goods in the recession-hit overseas markets like the US, a

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-45375023524172411892009-02-20T09:01:00.000+05:302009-02-25T09:04:36.737+05:30

The deal between ASEAN and India, which was under negotiations for the last six years, was expected to be signed between the two sides on 27 February in Thailand. New Delhi: The unexpected setback to exports and the associated problem of domestic unemployment may yet spike the government’s plans to sign a free trade agreement (FTA) with the Association of Southeast Asian Nations (ASEAN), a

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-87868900692792759202009-02-12T21:47:00.000+05:302009-02-12T21:48:37.865+05:30

NEW DELHI: External Affairs Minister Pranab Mukherjee acting as the finance minister said on Thursday that there is a strong case for stimulatingdomestic demand and boosting external trade to combat economic slowdown and poverty.The statement comes three days ahead of the country's interim budget. Mr Mukherjee is slated to present the interim budget in the Lok Sabha on Monday. "There is a need to

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-39661290891463367382009-02-12T12:43:00.000+05:302009-02-12T12:44:17.293+05:30

NEW DELHI: Domestic drug makers will no longer need a certificate of good manufacturing practice (GMP) from the World Health Organisation (WHO)to sell their medicines within India.The Drug Controller General of India (DCGI) has asked state drug controllers to let companies sell their brands in the country without the WHO s quality certificate, provided they comply with the quality norms set out

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-62649270891686052562009-02-12T12:39:00.000+05:302009-02-12T12:42:28.264+05:30

NEW DELHI: The government plans to extend the tax concessions enjoyed by technology parks and 100% export-oriented units (EOUs) beyond March2010, a government official said.The commerce department and the IT ministry are jointly lobbying for a three-year extension of the tax concessions offered to the software & technology parks of India (STPI) to ensure a steady flow of investments into the

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-44345209489092991042009-02-11T17:11:00.001+05:302009-02-11T17:12:51.648+05:30

VietNamNet Bridge – Vietnam is going to pip India in the world apparel trade, as Vietnamese exporters are projected to surpass the share of the Indian competitors in the global market in 2009, said The Economic Times.India this year is expected to export apparels worth 9.2 billion USD against 8.78 billion USD in 2008, while shipments from Vietnam are likely to increase from 8.4 billion USD last

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-43515761966365046552009-02-11T17:09:00.000+05:302009-02-11T17:10:39.177+05:30

Feb. 11 (Bloomberg) -- China’s exports fell by the most in almost 13 years as demand dried up in the U.S. and Europe and imports plunged by a record, signaling a deepening slump in the world’s third-biggest economy.Outbound shipments declined 17.5 percent in January from a year earlier and imports fell 43.1 percent, the customs bureau said on its Web site today. Both numbers were worse than

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-89724246974823480382009-02-11T17:03:00.001+05:302009-02-11T17:03:58.777+05:30

New Delhi: India is ready to hold talks with Beijing over New Delhi’s decision to ban toy imports from China, Commerce and Industry minister Kamal Nath told reporters on Tuesday. Last month, India banned imports of several types of toys from China for six months on grounds that they were a hazard to public health and safety. On Monday, China’s ministry of commerce urged India to exercise

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-54627552755118177872009-02-11T17:00:00.000+05:302009-02-11T17:01:19.373+05:30

NEW DELHI: The Dutch government has asked the European Commission (EU) for a review of the EU Customs regulations, based on which a consignmentof high blood pressure drugs from India being exported to Brazil, was seized and sent back, while transiting through the Dutch ports. It had been challenged by Merck Dupont which claimed that the medicine was being imported despite the company having a

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-3560054041664436562009-02-09T17:04:00.000+05:302009-02-11T17:05:42.985+05:30

Beijing, Feb 9: China today voiced "serious concern" to India over its blanket ban on importing Chinese toys, asking New Delhi to show "prudence", since its intensive use of trade remedies could pose a "serious threat" to booming bilateral trade ties."China hoped that India could show prudence and restraint in using trade remedies in the face of the global economic situation, as it could pose a

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-55909834993420232102009-02-08T23:01:00.000+05:302009-02-10T23:02:33.652+05:30

Slowdown woes are hitting special economic zones (SEZs), which were much in vogue until a year or two ago. Many SEZ projects across the country are being put on the backburner.Two weeks ago, the board of approvals had allowed an extension to two developers who could not get their SEZ project going on time. Many such SEZ developers have been forced to delay their projects since companies have put

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-21463112829442098152009-02-07T11:47:00.000+05:302009-02-07T11:48:17.578+05:30

NEW DELHI: Ignoring a threat of being dragged to WTO on ban on import of Chinese toys, India on Friday plugged loopholes in the rules that couldhave allowed manufacturers in China to dispatch toys into a vast Indian market.The Commerce Ministry has alerted the customs authorities to ensure that Chinese toys do not enter the Indian ports through a third country route."Prohibition shall be

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-87350136608545594712009-02-07T11:44:00.000+05:302009-02-07T11:45:59.928+05:30

KOCHI: The scheme to promote tuna exports from the country launched by the Marine Products Export Development Authority (MPEDA) seems to have gotoff to a good start.The export of tuna, which stood at US $ 13 million 2 years back when the scheme was announced, has registered a 307 % increase to touch US $ 53 million last year. This year the export is likely to increase to US $ 70 million though

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-53083452728406333822009-02-05T22:57:00.000+05:302009-02-10T22:58:13.470+05:30

The commerce ministry has proposed a three-year extension of tax benefits given to Export-oriented Units (EoUs) in an attempt to encourage export industries at a time when global demand is expected to slump further.The move will benefit more than 2,700 companies operating within the EoUs, like the Reliance Industries Ltd’s (RIL’s) 33-million-tonne-per-year petroleum refinery in Jamnagar, Gujarat.

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-9136381104723269292009-02-04T11:52:00.000+05:302009-02-07T11:54:01.797+05:30

BEIJING: China may ask the World Trade Organisation (WTO) to investigate a six-month import ban slapped on its toys last month by India, theofficial China Daily reported on Wednesday, citing a source close to the matter. Worries about protectionism are rising as the impact of the global financial crisis spreads, increasing the temptation for governments to bring in measures that will help their

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-4633170134793534032009-02-04T11:48:00.000+05:302009-02-07T11:51:00.542+05:30

BEIJING: China is likely to drag India to the World Trade Organisation challenging the ban by New Delhi on Chinese toys, a media report said onWednesday. "The Chinese government is mulling a response to India's recent ban on Chinese toy imports and will probably ask the World Trade Organisation to investigate whether the ban violates WTO laws," the China Daily said quoting an anonymous source

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-24062110046119848692009-02-03T11:55:00.000+05:302009-02-07T11:55:58.514+05:30

NEW DELHI: Taking a hard knock in the recession-hit US and other major markets, India's exports nosedived by 22 per cent in January, dashing allhopes of a recovery riding on the December figures.After the official figures for December showed exports declining by just about 1.1 per cent, Commerce Secretary G K Pillai came out with "unexpected" trends of overseas shipments taking a plunge in

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-80949719901063756912009-02-02T14:17:00.000+05:302009-02-02T14:20:55.766+05:30

NEW DELHI: India and the Asean, a grouping of 10 southeast Asian nations, are expected to sign a free-trade agreement on February 26 to eliminate tariffs on around 4,000 products traded between the two sides.Commerce and industry minister Kamal Nath has been invited by the economic ministers of Asean to sign the pact, provided it is approved by all 10 Asean countries. The signing will take place

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-51427664522158838192009-02-02T14:12:00.001+05:302009-02-02T14:14:42.087+05:30

NEW DELHI: India and Brazil have decided to mount a joint offensive at the World Trade Organisation against the Netherlands for seizing a consignment in transit, which was on its way from India to Brazil. The cargo, containing a generic drug for high blood pressure, was impounded by Dutch officials on a complaint by a local firm that had claimed it had the patent for high blood pressure drugs in

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-14594993919911442922009-02-02T14:10:00.001+05:302009-02-02T14:10:48.635+05:30

NEW DELHI: The finance and commerce ministries have locked horns yet again on the issue of reimbursement of service tax to exporters. Thecommerce ministry has demanded details of all clearances made so far by the tax authorities after exporters complained that finance ministry has cleared less than 5% of refund claims and rejected the rest for flimsy grounds. A commerce department official told

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-34944845710526847032009-02-02T13:15:00.000+05:302009-02-02T14:16:25.664+05:30

NEW DELHI: The government has approved changes in norms for import of raw sugar under the advanced licence (AL) scheme to keep local prices undercheck as production falls.The decision was taken at a meeting of the Cabinet committee on economic affairs (CCEA) on Wednesday night, but no official announcement has been made. Government officials told that it was decided to hold the announcement until

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-37040644000993248402009-02-02T13:11:00.000+05:302009-02-02T14:12:18.577+05:30

MUMBAI: The apex body of the country's stainless steel utensil and cutlery manufacturers has said that any import duty hike on stainless steel will have a huge hit on the industry, which employs three lakh people."Stainless steel attracts 5 per cent import duty now. Domestic stainless steel manufacturers are lobbying with the Government to increase that to 15-20 per cent to protect their

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-77733687043282179352009-01-24T09:44:00.005+05:302009-01-24T10:03:20.166+05:30

New Delhi, Jan. 23- The Centre on Friday banned the import of toys from China with immediate effect for six months.The Director General of Foreign Trade issued a notification banning the imports of toys from China but did not give any reason as to why this was being done.While the government notification did not cite the reason for the ban, sources said it was concerned over a rise in imports of

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-28684789139294202562009-01-24T08:47:00.002+05:302009-01-24T09:59:18.695+05:30

New Delhi, Jan. 23 The Planning Commission Deputy Chairman, Mr Montek Singh Ahluwalia, would convene a high-level meeting of different government departments on February 5.The meeting is being called to address the core concerns of the apparel industry, particularly its export segment, badly hit by the ongoing recession in the overseas markets of developed countries, according to the Minister of

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-47815438456921626752009-01-24T08:47:00.000+05:302009-01-24T09:49:39.329+05:30

New Delhi, Jan. 23 The Planning Commission Deputy Chairman, Mr Montek Singh Ahluwalia, would convene a high-level meeting of different government departments on February 5.The meeting is being called to address the core concerns of the apparel industry, particularly its export segment, badly hit by the ongoing recession in the overseas markets of developed countries, according to the Minister of

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0tag:blogger.com,1999:blog-4637029458917183090.post-62744324257927023382009-01-24T07:58:00.000+05:302009-01-24T09:58:59.938+05:30

NEW DELHI, India: Most Southeast Asian countries are surrounded by bodies of water and attention so far has focused on improving port-to-port transportation. But more needs to be done before economic integration can be achieved.There has been a proposal to set up a rail link from Delhi to Hanoi, the capital of Vietnam, passing through Myanmar, Laos, Cambodia and Thailand. ASEAN nations and India

ieport.comhttp://www.blogger.com/profile/17749076712303738411noreply@blogger.com0