Last year, the commerce ministry announced that Status holders (ie recognised export houses, trading houses etc), who achieved a minimum annual export growth of 25 per cent (a minimum of Rs 25 crore) could earn Duty Free Import Entitlement Certificat
The festive season will mean business for the steel industry as it is the time when automotive and consumer appliance companies bump up demand to prepare for higher sales, experts have said. Ranjan Dhar, chief marketing officer at ArcelorMittal Nippon Steel India (AM/NS India), said that bookings by auto and consumer appliance industries are 20 per cent higher ahead of the festive season compared to last year. "While this could be for a couple of months, it could normalise later at approximately 10 per cent," he said.
Due to the huge pile-up of visa applications, the US consular officers in the neighbouring country are now adjudicating Indian visa applications where interview requirements have been waived.
Anand Khushwaha, a small Delhi-based exporter of imitation jewellry, has been inundated by e-mails from his customers in the United States and Europe.
India's Directorate General of Foreign Trade on March 25 banned the export of Hydroxychloroquine but said that certain shipments on humanitarian grounds may be allowed on a case-by-case basis. With more than three lakh confirmed cases of coronavirus infection and over 8,000 fatalities, the US has emerged as the worst sufferers of the deadly coronavirus diseases to which there has been no cure.
The Supreme Court on Friday allowed export of nearly 1100 metric tonne of unused Endosulfan from the country, while retaining its earlier order banning the use and production of the controversial pesticide.
Tata Consultancy Services-led consortium has bagged a Rs 15,000-crore contract from BSNL to deploy 4G network for the state-run telco. In a statement, TCS said it has received an "advance purchase order" valued over Rs 15,000 crore from BSNL.
Hundreds of tailors from a local apparel unit in Kannur have been working tirelessly to get the uniform shirts ready for the Israel police force for the past eight years.
It may touch Rs 19,800 crore.
India's manufacturing sector activities moderated in December but output remained in the growth territory, amid slower rise in sales and new orders, even as business sentiment was dampened by concerns surrounding supply-chain disruptions, COVID-19 and inflationary pressures, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) eased to 55.5 in December, from November's ten-month high of 57.6. The December data pointed to a "substantial, albeit slower, rises in sales and output", the survey said, adding that the latest quarterly reading was at 56.3, its highest since the final quarter of fiscal year 2020/21.
India's manufacturing sector growth steadied in May, with new orders and production increasing at similar rates to those registered in the previous month, while demand showed signs of resilience and improved further in spite of another uptick in selling prices, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 54.6 in May, little changed from 54.7 in April, pointing to a sustained recovery across the sector. The May PMI data pointed to an improvement in overall operating conditions for the eleventh straight month.
Of the total $32.5 billion engineering exports in 2009-10, EU accounted for about 30 per cent.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
During 2012-13, the gems and jewellery exports declined by 9.4 per cent year-on-year to $39 billion due to sluggish demand in traditional markets.
Billionaire Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW. Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months, they said, adding Adani, recently, raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility.
Exports of textiles and jewellery from India may register negative growth this year thanks to the appreciation of Rupee against the US dollar.
A team of National Human Rights Commission (NHRC) on Friday held on-spot inquiries in Sandeshkhali to ascertain facts about alleged sexual abuse by some Trinamool Congress leaders even as fresh agitation rocked the trouble-torn village, where locals torched the property of accused Trinamool leaders and held demonstrations against the delay in arresting the main accused, Shahjahan Sheikh.
Manufacturing sector activities in India moderated for the second straight month in July as rates of expansion in output and new orders eased slightly, a monthly survey said on Tuesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) eased to 57.7 in July from 57.8 in June. Despite the fall, the Indian manufacturing sector maintained strong growth momentum at the start of the third quarter amid ongoing buoyant demand, the survey said.
Although the special relationship might compel Bhutan to be considerate of Indian interests, new challenges will likely arise. An emerging new phase of relations will also call for fresh redlines between India and Bhutan, observe Harsh V Pant and Aditya Gowdara Shivamurthy.
The US and European markets account for 35 per cent of export revenue and a big portion of volumes.
The official said that the National Statistical Commission (NSC) is examining the working group report on the roadmap for introducing the PPI and their recommendations are awaited. "It is with Statistical Commission, so we will wait for the panel recommendation," the official, who did not wish to be named, said.
Modi faces his first challenge as soaring prices for basic food items, such as milk and potatoes, lifted retail food inflation to 9.4 per cent in May, driving wholesale inflation to a five-month high of 6.01 per cent.
The US market, which contributes about 75 per cent of India's jewellery exports alone, has recorded reduced orders, which have dipped by over 50 per cent because of economic slowdown. If the trend continues, gems and jewellery exports would nosedive almost at the current rate," said Vasant Mehta, chairman, Gems and Jewellery Export Promotion Council in the sideline of a conference on Tuesday in Mumbai.
Exports of gold jewellery fell 23.13 per cent to $1153 million.
'A change we have seen after the Russia-Ukraine war is the energy crisis in Europe.' 'Earlier, in Europe, people used to change their clothes after 5 washes, now they are using it till 15-20 washes.' 'They used to change their entire wardrobe after 2 months or so, but because of the economic conditions, it has changed.' 'It has affected exports as 40% of our exports is to Europe, 30% to the US and 10% to the UK.' 'The war has to end for better days to come.'
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
'...which is possible through flexicap and multicap funds.' 'The latter has a better balance between large, mid and smallcap stocks.'
Nestle India is in the process of resuming exports of its Maggi instant noodles to various global markets after it got a go ahead from Bombay High Court earlier this week.
Over 10 per cent rise of rupee against the US dollar has become a 'big worry' for exporters at a time when they saw arrest in sharp decline in the country's exports amidst a hope of recovery.
After the Ukraine war, coke prices just soared and most units don't have money left to buy raw material. Customers are not absorbing the price escalation'
The company wants to make F 16-Block 70 "for India, from India and export to the world".
The exports stood at $4.21 billion in June in 2008. Engineering exporters are not hopeful of recovery in demand in the international market in the coming months.
It is mind-boggling to find our prime minister putting exports on the back-burner, says Jayanta Roy.
The CEO of Bangalore-based Gokaldas Exports, one of India's largest garment exporters, says the rise is forcing him to forgo new orders, which could impact business in the coming quarters.
A team of central agencies and the Uttar Pradesh drug department had carried out an inspection at the firm's office in Noida on December 29 and taken six more samples for testing.
India's carpet export rose by 22 per cent to $3.60 million (about 17 crore) in June year-on-year on account of good orders from the US and Europe.
India's services sector activity eased in August but growth rates for new orders remain elevated, as services firms indicated the sharpest upturn in new export business which acted as a catalyst for firms to expand their workforces as well as output, a monthly survey said on Tuesday. Despite falling from 62.3 in July to 60.1 in August, the seasonally adjusted S&P Global India Services PMI Business Activity Index indicated one of the strongest increases in output seen since mid-2010. For the 25th straight month, the headline figure was above the neutral 50 threshold.
Anamika Pareek answers five most frequently asked questions about investing in silver ETFs
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