Taking yet another measure to check inflation through improving domestic supplies, the government today stopped export incentives on basmati rice. "Export of basmati rice shall not be entitled for DEPB (Duty Entitlement Pass Book) benefits," the Directorate General of Foreign Trade said in a notice. Government has already banned export of non-basmati rice & revised upward the minimum export price for basmati rice. Inflation for the week ended March 22 has touched the 7% mark.
To cut transaction costs for traders, the government has launched an online facility for issuing Importer-Exporter Code Number.
Export-Oriented Units (EOUs) in the country are likely to continue to enjoy income-tax benefits even after the ensuing deadline of March 2009.
'Arbitrage funds make the most sense for those in the 30 per cent tax bracket, are viable for those in the 20 per cent bracket, but less so for those in the 10 per cent bracket.'
Six entities including four foreign portfolio investors (FPIs) are under lens for suspicious trading in Adani group shares prior to the release of the damning Hindenburg report, the Supreme Court-appointed expert committee has said. There was a build up of short positions in the Adani scips prior to the January 24 release of the Hindenburg report, and substantial profits were booked thereafter as stocks crashed, the 178-page report said. A "short" position is generally the sale of a stock one does not own.
The government has formed the Export Promotion Council for Pharmaceuticals (Pharmaexcil) to boost pharma exports.
MNC funds invest in companies where foreign promoters have more than 50 per cent shareholding.
In 2006, FCI's procurement fell sharply to 9.2 million tonnes from 14.8 million tonnes in the previous year, forcing the government to import 5.5 million tonnes.
'For the first time since I've been following Indian politics, one heard voters talking about India's role on the world stage and the fact that, due to Modi's leadership, India was once again a great power.'
Currently, the five-year FTP aims to raise total exports to $900 billion but targets may be reduced
India is heading for a major rise in food prices especially rice and pulses. Following the global trend and anticipating a shortage, Central government has raised the minimum price for non-Basmati rice exports. Other countries like Egypt and Cambodia have imposed restrictions on export of rice. With rice being staple food in many countries export restrictions will affect prices in the importing countries. These countries are already facing social unrest over high food prices.
The government on Thursday launched a Grievances Redress Cell for exporters and importers in a bid to improve the of the directorate general of foreign trade.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
Gautam Adani, India's second-richest man, and seven others including his nephew Sagar have been charged with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion profit over 20 years.
The index could be vulnerable to a bigger fall given the present market dynamics.
Small and medium enterprises would continue to play a vital role in enhancing India's exports, L Mansingh, the director general of foreign trade, said in New Delhi.
The government on Wednesday ruled out revising the export growth target downwards in the wake of rupee appreciation and said it was slated to grow at 12 per cent during this fiscal.
A significant surge in the imports of crude palm oil has led to a 17 per cent growth in the imports of 300 sensitive items during the period April-October.\n\n\n\n
Prime Minister Narendra Modi on Saturday welcomed a host of world leaders, including United States President Joe Biden and United Kingdom Prime Minister Rishi Sunak, at the Bharat Mandapam, the venue of the G20 Summit.
Exports to Greece from India are $360 million a year.
From toys, footwear and furniture to insulated flasks, smart meters, and air coolers - the Central government over the last decade has mandated higher standards for production and imports of such items. Sample this: Till 2014, there were 14 Quality Control Orders (QCOs) covering 106 products. By the latest count, there are 156 QCOs on 672 products.
During 2013-14, total value of exports stood at $465.90 billion.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
