Indian exporters on Monday said the fluctuating rupee will not only raise imports bill but would also lead to volatility affecting their businesses.
'Such steps would be a barrier and something people do not want.'
Exports in May 2012 stood at $24.77 billion.
Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.
The department for promotion of industry and internal trade has asked the telecom department and State-owned BSNL to put on hold the tender for setting up 4G network, valued at Rs 9,000 crore, after allegations emerged that the tender favoured foreign companies. The tender was floated by BSNL in March under the new management for setting up the 4G network.
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Each company has tied up for different quantity and different quality of diamonds.
'His death is an irreparable loss to the nation'.
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Imports of gold virtually stopped since July 22 after confusion on the new import rules.
The Surat diamond industry is likely to face a loss of around Rs 8,000 crores in next two months as Hong Kong, which is a major export destination, has declared a state of emergency due to the coronavirus outbreak in China, say experts. Hong Kong is a major business hub for the Surat diamond industry, but schools and colleges have been closed there till the first week of March and even businesses are seeing a dip in view of the outbreak of the novel coronavirus.
India lost its competitive advantage as China gave fiscal benefits to its local manufacturers. Besides, recent policy flip-flops have, however, dented India's image as the 'pharmacy of the world'.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
So far, the drones that were considered important for the agriculture sector were nature-made winged-insects - a key component of the bee-based natural pollination cycle. The new-age drone is a whirring machine with rotors that can help farmers plan and grow and manage their crops. For the farm sector in India, which has had low levels of mechanisation, the impact of drones can be tremendous. The use of drones can help it leapfrog to modernisation in the same way that mobile phones helped India overcome its traditional lack of connectivity.
There was a massive 24% decline in India's gems and jewelry exports to $2,321 million for September 2018 as against $3,053.38 million in the same period last year.
The trade to-and-from India so far is not affected. But if the situation continues to remain the same for the next two to three months, it could definitely hurt India trade, including essential cargo.
Blocked working capital worth Rs 1,500 crore, in the almost-defunct job work diamond polishing units, is expected to be released even as diamantaires will issue fresh orders to such units following the GST relief.
Only 400 grams have been deposited so far.
Banks have become more vigilant over the past two weeks, with many more officials involved in loan approval and disbursal.
The earliest ones included whistles shaped like birds, toy monkeys that could slide down a string and small carts made from materials found in nature such as sticks, clay and rocks. While there might be no disputing India's rich toy-making tradition, the industry is languishing for lack of investment and technology, and also owing to competition from cheap imports. And though it has been listed among 24 key sectors under the government's Atmanirbhar Bharat Abhiyaan, the question remains: will this push help place it in the global game? Currently, 80-odd per cent of the toys sold in India are imported - nearly 60 per cent of them from China.
With the Covid-19 pandemic showing signs of ebbing and economic activity picking up, factory owners in Jalandhar had hoped that the worst was over. However, the heat wave in April and extensive power cuts that came with it, have crushed their hopes. The city's large number of micro, medium and small enterprises (MSMEs) are now gearing up for yet another struggle, this time to survive with the shortage of power that is severely impacting their operations.
Researchers at Northwell Health in New York are testing the effects on Famotidine (used in high intravenous doses) on Covid-19 patients as a potential treatment. After the hospital announced its clinical trials, it led to a drug shortage in the US. Back home, however, there has not been any surge in the demand for Famotidine yet.
There are around 15 lakh diamond workers in Gujarat, including nearly seven lakh employed in units in Surat, which is the largest hub of cutting and polishing of these precious stones.
The 80:20 rule mandates importers to channel at least 20% of the import quantity for jewellery exports.
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
At 12-15 tonnes, the imports in September are estimated to be much lower than in the same month last year.
Indian diamantaires are looking to go slow on rough diamond purchase during the remaining quarters of the current financial year, thanks to weak global sentiment.
Despite the onset of wedding season, the situation in apparel retail market remained unchanged and saw sharp decline in sales
China accounts for more than one-third of the apparel export market
The group has called for a retaliatory tariff action against India, if New Delhi does not roll back the 'unilateral and discriminatory' equalisation levy or Google Tax.
Import of jewellery from Hong Kong attracts no duty in India, due to a free trade agreement.
Particularly hit has been the apparel sector, where the time taken by the industry to adjust to the Goods and Services Tax regime, downward revision of export incentives, and a credit squeeze faced by small and medium scale enterprises, has pushed production downwards.
Around 55 per cent of land in the 36 operational special economic zones (SEZs) in Tamil Nadu is lying vacant owing to various reasons, including the recent economic slowdown.
Janhvi meets her fans... Shah Rukh Khan makes a rare airport appearance... Akshay promotes Raksha Bandhan.
Indian drug firms get a shot in the arm in the $12 bn Australian drug market as the Therapeutic Goods Administration (TGA), Australia agrees to accelerate the drug approval process in that country for Indian players who already have an approved plant and product from one of the stringent regulatory authorities like US, EU or Canada. From current sales of $340 mn, the Indian firms can see a significant upside in sales; felt Dinesh Dua, former chairman of the Pharmaceutical Exports Promotion Council of India (Pharmexcil), and the MD of Nectar Lifesciences. He highlighted that only 12 percent of the Australian drug market is generic, as against 80-90 per cent in the US or EU. Of this $1.5 bn generic drug market in India, Indian companies have a small share.
A sightholder is a company on the Diamond Trading Company's list of authorised bulk purchasers of rough diamonds.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
The Bill to amend the Bureau of Indian Standards Act has been passed.
The API of Paracetamol, a fever and pain medication, has grown 25 per cent from Rs 450-480 per kg in December 2020 to Rs 580-600 per kg in April. When compared to the pre-Covid prices of December 2019, the surge is much steeper -- around 140 per cent, reports Sohini Das.
'The ban on Chinese imports is a suicidal step.' 'This will result not only in economic depression, but in a chaotic situation.'
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
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