In fact, only two out of India's top five export destinations witnessed an increase in exports during the period. Total exports from the country had expanded 17.5 per cent during the period and stood at $118.25 billion.
Proceedings for imposing safeguard duty on Chinese Nylon Tyre Cord Fabric have already been initiated by the DGS on February 6 this year. Significantly, these moves to protect the domestic industry come at a time when India's industrial production contracted for two consecutive months ending January, 2009.
With orders drying up from the overseas markets, the council projects an export growth of 15 per cent in 2008-09 to nearly $38.8 billion, against the 27.4 per cent rise ($33.72 billion) seen in the previous year. This will be the lowest expansion in engineering goods exports in seven years. A sample survey of about 30 SMEs conducted by the Federation of Indian Export Organisations points towards the job losses in the sector.
India may not charge import duty on personal artefacts of Mahatma Gandhi, which were bought by liquor baron Vijay Mallya in an auction at New York. Moreover, the country is also going to relax import restriction on all items of historical significance of Indian origin.A pair of steel-rimmed spectacles and sandals, a Zenith pocket watch, an eating bowl and a plate went under the hammer in New York and the UB Group chairman successfully bid for them for $1.8 million.
If there is one state where environmental issues spill over into active politics and can rewrite the destiny of political parties, it is Goa. And history threatens to repeat itself in the 2009 Lok Sabha elections for two seats, over a government ordinance concerning a Supreme Court order on the demolition of illegal structures built by hotels.
India's sea ports do not have equipment to detect radioactive or contaminated consignments, exposing the country to security and safety risks, besides damaging reputation of goods manufactured in the country.
A draft report prepared by Members of the European Parliament could potentially derail negotiations between India and the European Union, the country's largest trade partner, on a Comprehensive Economic Partnership Agreement involving duty-free trade of goods, services and investment. The report has called for the inclusion of human rights and democracy issues in the CEPA talks and an international investigation into "extra judicial killings" in Jammu & Kashmir.
"The fact that not many FTAs were sealed shows the cautious approach of the policy makers," said Ram Upendra Das, fellow, Research and Information System for Developing Countries. "But India has recognised that these duty-free agreements are the order of the day as other countries are engaging in similar deals. Indian exporters will be left out if the nation does not engage in these types of agreements with its trading partners," he added.
More time for fulfilling export obligations also likely.
Rented housing and fixed rents, like it's in developed countries, could be one way to ensure that everyone in cities has a roof over his head.
India's import bill contracted for the first time in almost nine years during January 2009, led by crude oil and capital goods, which constitute nearly half the total imports.
A dip in petroleum product exports for the first time in the current fiscal has contributed to a 22 per cent decline in merchandise exports in January, commerce ministry data reveals.
Broad consensus is emerging within a Group of Ministers chaired by finance and external affairs minister Pranab Mukherjee on a proposal seeking comprehensive changes in the foreign direct investment policy. This includes scrapping automatic approval in sectors that have FDI limits and in which ownership or control is shifting to a foreign company, and a new definition for calculating indirect foreign equity.
He asked the CMs to give priority to income-generating schemes like housing and tone up implementation of ongoing programmes to enable them to spend the originally allocated funds and the additional allocation of Rs 20,000 crore. He referred specifically to the Pradhan Mantri Gram Sadak Yojana, National Urban Renewal Mission, National Rural Employment Guarantee Scheme, Indira Awas Yojana, Acceleration Irrigation Benefit Programme and National Social Assistance Programme.
For the first time since its inception in 2006, the Board of Approval on special economic zones in its next meeting in March will take up a proposal from a developer to merge these tax-free industrial enclaves for exports.
Telemedicine sure helps private enterprise. If it also helps the cause of health care, then why not?
The ambitious plans of another charity of the Satyam founder, the Health Management Research Institute, in partnership with the Andhra Pradesh government, are under scrutiny.
Despite its success, EMRI is as much under a cloud today as its founder Ramalinga Raju, with a public interest litigation in the Supreme Court questioning the way he got 12 state governments to implement it and reimburse 95 per cent of its expenses. The key issue is that the states entrusted Rs 18 billion annually (if 10,000 vans are to run in all the states by next year) to a private company without going through a transparent selection procedure.
Delhi Chief Minister Sheila Dikshit says in an interview that the Centre can continue to handle the city's law and order situation but should reform the police system.
The IIP rate had dipped by 0.4 per cent in November, for the first time since the new series for the IIP was introduced in financial year 1993-94, mainly due to poor performance of manufacturing, which has nearly 80 per cent weight in the index.
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