Public sector banks have written off loans worth Rs 6.15 lakh crore in the last five and a half years, Parliament was informed on Monday.
New Delhi might have loudly welcomed an age of multipolarity, hedging and strategic autonomy. But it seems the winner in that game is Islamabad, not us, points out Mihir S Sharma.
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
The billionaire Adani family, which is building an in-house construction and engineering ecosystem by acquiring ITD Cementation and PSP Projects, is actively seeking additional acquisition opportunities, according to bankers. As part of its $100 billion investment plan by 2030, the Ahmedabad-based group has undertaken several large-scale construction projects, including the Dharavi redevelopment, Ganga Expressway, a mega convention centre in Mumbai and airports.
Emboldened by the buoyancy in exports, the government is likely to come out with an Exim Policy that would for the first time have common guidelines for both commodities and services.
The decision comes following the appeal by the Delta Airlines, Inc and the Airline Pilots Association of a lower court decision in July 2012 that determined that the Exim Bank improperly approved financing for purchases of certain Boeing aircraft by Air India.
Describing the new Exim Policy as 'bold and pragmatic', industry and exporters' association, on Monday, hailed it saying, "The policy would help India achieve one per cent share of global exports by 2007."
Enthused by over 20 per cent export growth this year, the Exim policy to be unveiled on March 31 will contain far reaching measures to encourage exports of textiles and gems and jwellery
The government may advance its annual Exim Policy outlining sops to boost exports to $80 billion by 2006-07
Exim Bank of India Chairman and Managing Director T C Venkat Subramanian revealed that the bank has good exposure in highly export-intensive sectors. The bank has seen considerable increase in loan approvals and profit after tax. It provides financing both in foreign currency and Indian rupees. The bank will push exports from rural areas and explore untapped areas. Subramanian believes microfinancing model was ideal for villages as it reaches the indigenous rural people.
India to get a major financial boost from the US for development of infrastructure.
The government on Monday gave a massive thrust to services and exports, removed restrictions on exports and made the EPCG scheme more flexible.
After rejecting a request for financing the 4,000 MW ultra mega power project in Sasan, Madhya Pradesh, last Thursday, the Exim Bank reversed its decision on Monday after a conversation its chief Fred P Hochberg had with Anil Dhirubhai Ambani Group chairman Anil Ambani.
US Exim Bank has agreed to extend guarantee for up to 85 per cent of the $7.2 billion (Rs 33,500 crore) loan that Air India requires for replenishing its fleet with 68 new aircraft from Boeing Co.
Container Corporation of India (Concor) has been the worst performer among major logistics & port stocks registering returns of about 4 per cent over the past three months as compared to 10-12 per cent for peers Gateway Distriparks and Adani Ports and SEZ. Uncertain outlook on the export-import (EXIM) trade front, market share loss, lack of progress on divestment, and weak June quarter results weighed on the stock. Volume and margin movement will be key triggers for the stock going ahead. As was the case in the previous quarter, margin performance was muted even in the June quarter. Operating profit in the quarter was down 17 per cent at Rs 391 crore missing estimates by over 15 per cent. Operating profit margins at 20.4 per cent, too, were down sharply by 350 basis points over the year-ago quarter.
The Maldives will get free 'non-lethal' military equipment and training from China's military under a newly inked agreement with Beijing, President Mohamed Muizzu has said, underlining that it would further strengthen the Indian Ocean island nation's independence and autonomy.
The commerce department has reaffirmed its plans to launch the 'Trade Connect' e-platform to help exporters connect with stakeholders of international trade, as a part of the new government's 100-day action plan, a senior government official said.
The announcement would help preserve 1,000 jobs in Wisconsin and 13 other states.
As part of efforts to boost exports to the Commonwealth of Independent States, the government is likely to unveil a Focus-CIS programme in the forthcoming Exim Policy.\n\n\n\n
All the pending notifications on the Export-Import (Exim) Policy will be issued within a week, Commerce and Industry Minister Arun Shourie informed the Rajya Sabha on Monday.
The Export-Import Bank of India is planning to extend loans worth $150 million to the developing countries in Africa, Asia and Europe in six months.
President Mohamed Muizzu, known for his pro-China stance, has thanked India for enabling the resumption of medical evacuation services with civilian aviation personnel from India.
The joint statement from Friends of the Earth, Pacific Environment, Oil Change International and Groundwork on Tuesday precedes the Exim Bank Board meeting, scheduled on Wednesday where it would formally reverse its' last month decision to reject the financing of Reliance's Sasan power project on environmental grounds.
The Union government said Saturday that the new Exim Policy, aimed at boosting export competitiveness by reducing transaction costs and procedural simplifications, would be announced in July.
These purchases represent the third phase of Air India's 68-aircraft fleet renewal plan. EXIM Bank had earlier approved $1.2 billion in 2007 and $548.8 million in 2008 to support the financing of NACIL's purchases of Boeing aircraft.
Recovering from an order dry-up and change in market conditions, Gurgaon-based Rites is looking to bid aggressively in global export and consultancy tenders and run with a volume-led approach, its chairman and managing director (CMD) Rahul Mithal said. Rites is a railway consultancy public sector undertaking (PSU) under the aegis of the Ministry of Railways. "We started the year with two huge challenges - the export order book, where no new orders had happened, and the opening up of Indian Railways quality assurance works to four players.
The government on Monday unveiled the new Exim Policy which gives a massive thrust to services, exports, removal of restrictions on exports and makes the Export Promotion Capital Goods scheme more flexible.
This presently stands at 10 per cent and is expected to jump to 70 per cent in the next 2-3-years, the official said.
Export-Import Bank of India plans to raise Rs 3,000 crore (Rs 30 billion) through various financial instruments, including bonds and term deposits and foreign currency resources, totaling $800 million in 2005-06.
Alloting more funds for MNREGA and PM-KISAN could wipe out the entire additional money that the Centre may have for FY25.
The government will treat sales from domestic tariff area to Special Economic Zones as exports in a bid to attract more foreign direct investment, which could turn out to be an engine of growth.
Export and Import Bank of India is to pick up about 20 per cent stake in Zambian Development Bank for $1.4 million in order to increase its presence in the African continent and boost Indian exports.
'Shark fins are the most sought-after shark product.'
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