India's exports are showing signs of improvement as the contraction in outbound shipments in June so far has come down to about 10-12 per cent as compared with 60 per cent in April, Commerce and Industry Minister Piyush Goyal said on Monday. Declining for the third straight month, In "Currently we are about 10-12 per cent down in June. So in a sense, we have reached up to 88-90 per cent of the level of exports that we had in June 2019 in the current month in the first two weeks. I am awaiting the data for third week (of June)," Goyal said at a CII function.
A meeting to discuss what goods should be included in the negative list of items for India-European Union Free Trade Agreement, was held here recently.
The BJP-led government may not permit foreign retailers to open mega stores in the country as such a move may adversely impact small traders and farmers, new Commerce and Industry Minister Nirmala Sitharaman indicated.
In view of popular sentiments, the Goa government had decided to scrap 12 SEZs and sought denotification of three SEZs from the Centre. In view of popular sentiments, the Goa government had decided to scrap 12 SEZs and sought denotification of three SEZs from the Centre. The three SEZs for Meditab Specialities, Peninsula Pharma Research Centre and K Raheja Corporation had started work on the sites before the state government issued them stop-work orders.
Maintaining his optimism that India will achieve export target of $160 billion for 2007-08 despite currency related troubles, Nath said his ministry is preparing a Cabinet note for expanding coverage of refunds to exporters. The government had announced a Rs 1,400-crore (Rs 14-billion) package for exporters in July and exempted seven items from service tax.
This lack of regular and detailed disclosure by companies or respondents lies at the core of the problem, one that has gained ground in recent weeks.
AIFF plans to go ahead with the 2020-21 I-League season even if the clubs' star foreign recruits are unable to make it due to the coronavirus-forced travel restrictions.
Guar Gum Manufacturers' Association president G L Sarda said that the industry will definitely participate with the government in the project. "It is high time we fund research projects to develop new varieties of guar seeds," Sarda said.
"I have always felt that the true value of SEZs must be judged by the extent to which they help promote labour-intensive manufacturing," Minister of State for Commerce Jairam Ramesh said on Wednesday.
The decision was taken in the meeting of the Board of Approval headed by Commerce Secretary Rajeev Kher on September 18.
This decision will come as a relief to Essar's multi-product port-based SEZ project in Hazira as well as of Adani Group's zone in Mundra, which the revenue department felt was not built on vacant land when it was notified, and hence it had violated the law. Both the zones are in Gujarat.
Growth in output of coal, cement and electricity slowed to 0.3%.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
The FM said an announcement with regard to the additional steps will be made after consulting Prime Minister Narendra Modi.
The world recognizes that it would be impossible to do business without India, says Commerce Minister Kamal Nath.
US recession is likely to help Indian economy as it wil attract more global investments, said Commerce and Industry Minister Kamal Nath.
The Commerce and Industry Ministry has circulated a draft Cabinet note for inter-ministerial consultations.
Kerala's Tirur betel leaf, Tawlhlohpuan and Mizo Puanchei from Mizoram, and Palani Panchamirtham, a temple 'prasadam' from Tamil Nadu have been awarded Geographical Indication tag.
Clearing speculations on its entry into India, the world's biggest coffee chain Starbucks Coffee International said on Wednesday it will open its first store in India by the end of this year.
Finance Minister Arun Jaitley is expected to present the Budget for 2014-15 in July.
Ringing Bells has said the manufacturing cost of the phone is about Rs 2,500.
'It has been a phenomenal effort at all levels of the government.' 'People were working 15-16 hour shifts in the central government, in the state governments, in the districts....'
'If the mandis were not working in Delhi, or the onion market in Nashik got affected, or there were disruptions because of unloading or loading in any sector in south India, we intervened.'
Exports from India to Pakistan increased by 95.63 per cent to $1.3 billion in 2006-07 against $690 million in the previous fiscal. Imports from Pakistan in the same year were worth $320 million, an 80 per cent increase over the year-ago figure of $180 million. Within the SAARC block, India has been the biggest trading partner of Pakistan in the last six years. According to analysts, India's share in Pakistan's total trade over the last six years stands at almost 50%
Rajya Sabha was adjourned twice during Question Hour on Monday as the Congress created uproar saying there were inconsistencies in government statements on the World Trade Organisation though Finance Minister Arun Jaitley asserted there was no contradiction.
The commerce ministry has allowed the technical expert group headed by former Council of Scientific and Industrial Research Chief R A Mashelkar to correct the "technical inacuracies" in the patent law report and re-submit it within three months.
E-retailer Flipkart has signed a memorandum of understanding with the labour ministry for short-term training of its new employees.
With states in north India imposing stricter measures to curb intra-state movement after April 20, makers of summer products such as air conditioners, refrigerators, colas, and ice creams are estimating a 25-60 per cent drop in yearly sales.
The decision has come in the wake of allegations of plagiarism against the Mashelkar panel report.
India Inc had cheered Donald Trump's decision to scrap TPP, but now there is a growing sense that it won't really lead to positive growth in trade with the US. Subhayan Chakraborty reports.
In a first, Prime Minister Narendra Modi on Wednesday met the secretaries of all the government departments collectively and asked them to directly get in touch with him to resolve issues and expedite decision-making.
"We have examined the Bharti-Wal-Mart joint venture and everything is in conformity with the existing policy on FDI in retail," high-level sources in the commerce and industry ministry said.
Modi said the government is committed to enhancing the income level of the handloom weavers apart from putting in place a robust social cover for the weavers' families.
Tightening its grip over illegal import of Chinese crackers which are reportedly flooding the Indian market, the Centre has issued a public notification warning importers and public of the legal consequences they would face if involved with it.
The declining trade deficit figures clearly reflect that the US exports to India are increasing.
Government said on Wednesday it has extended by one year the in-principle approval to Reliance Industries' Maha Mumbai special economic zone but asked the promoters to cut the size of the zone to 5,000 hectares in line with the new rules.
The government is also trying to curb child abuse and pornography and such platforms act as catalysts in these cases.
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