The government has decided to examine the popular export promotion scheme -- the Export Promotion Credit Guarantee Scheme -- to prevent its misuse in the wake of a car import scam coming to light recently.
The world's largest steelmaker, Mittal Steel Co. will buy 36.7 per cent stake for $316 million in China's Hunan Valin Steel Tube & Wire Co.
The Spices Board will take part in 13 global fairs during the current financial year.
India and Australia are soon likely to initiate talks for a free trade agreement.
The entire exercise might become a cakewalk with India deciding to become a signatory to the 'Madrid Protocol'.\n
Even as the SEZ Board of Approval meeting, held in New Delhi on Thursday, deferred taking a decision on Essar's request to link its steel-based zone at Hazira
During 2013-14, total value of exports stood at $465.90 billion.
In a move that is likely to boost border trade between India and China, the commerce ministry is considering to expand the number of items traded through Nathu La in Sikkim.
A last-ditch attempt to rescue the Doha round of world trade talks is likely to be made towards the end of July at a Geneva meeting of 30 trade ministers from among the 150-member countries of the World Trade Organisation (WTO).
As Amazon India, Flipkart are forced to shut down 60 categories and push out 45 mn products, a new lobby group comprising sellers is in the making to take up e-com concerns.
Country's largest gold importer MMTC Ltd has decided to join the SEZ bandwagon by setting up a gems and jewellery park in joint venture with a private player in the tax-free enclave.
Forex dealers said besides strong demand for the American currency from importers, capital outflows mainly weighed on the domestic currency.
In a statement, the state government alleged 'malicious attempts' to discourage the use of products lacking a halal certificate not only seek 'unfair financial benefits' but also form part of a 'pre-planned strategy to sow class hatred, create divisions in society, and weaken the country' by "anti-national elements".
The next six months may see the Centre notifying 100 special economic zones.
Total foreign direct investment (FDI) inflow to India declined to $74.01 billion in the calendar year 2021, which is 15 per cent lower from $87.55 billion recorded in the previous year, the ministry of commerce & industry said on Wednesday. The FDI inflow includes equity inflow, equity capital of unincorporated bodies, re-invested earnings and other capital. "FDI is largely a matter of commercial business decisions and FDI inflow depends on a host of factors such as availability of natural resource, market size, infrastructure, political and general investment climate as well as macro-economic stability and investment decision of foreign investors.
Despite the missive on the impact of foreign retail on the small kirana shops in the country written by Congress President Sonia Gandhi to Prime Minister Manmohan Singh, everyone in the government knows that it was never to be taken seriously.
Reflecting the enthusiasm among private companies for setting up special economic zones, the board of approval for SEZs will consider over 100 proposals on March 17 - its first meeting since the implementation of SEZ Act and Rules last month.
India's export growth slowed down to 14.08 per cent during January 2007 to $9.64 billion, while imports rose 35.74 per cent to $15.43 billion over the corresponding month a year ago.
India on Wednesday said that developed and developing countries should now 'close their differences' and move forward after the Cancun debacle but felt more 'transparency' in decision-making process was needed at the WTO to help towards this end.
While the high-end bikes will not enjoy any cuts on import duty, the commerce ministry has now mooted capping the number of such bikes to be imported in a year.
Going ahead with its festive sales as per schedule, companies such as Flipkart, Jabong, and Myntra are having week-long Valentines' Day sales, offering discounts of as much as 80 per cent. Amazon India is also offering discounts of almost 40 per cent.
India has set an ambitious target to quadruple annual information technology exports to $50 billion by 2010 from $12.5 billion at present.
The government has approved a Rs 675 crore (Rs 6.75 Special Economic Zone by Finnish telecom major Nokia near Chennai.
However, that could only be for sectors where 100 per cent FDI is allowed under the automatic route and pose no risk to national security.
Existing units stay operational; those approved may not be notified, land could be used for other purposes
