Having shown some initial signs of recovery in November, India's apparel exports declined by over 11 per cent to $862 million in December 2009 on account of poor demand from the United States and the Euro zone.
Making a marginal recovery, India's exports entered the positive zone after a gap of eight months, recording a growth of 0.82 per cent to $25.58 in January.
Japanese auto giant Suzuki Motor Corporation on Tuesday said it plans to make India an export hub for its small cars, mainly for European and African markets.
This is the first time an Indian shipyard has been commissioned to design and build a warship to specifications formulated by a buyer country. This marks an important first landmark in the Bharatiya Janata Party-led government's drive to increase defence exports.
Governments encouraged motorists to switch to diesel in the belief that its superior fuel economy would outweigh the higher pollutants per litre burned.
The Foreign Trade Policy Supplement released by the commerce ministry on Friday extended the (Duty Entitlement Pass book) DEPB scheme till May 2009. The exports for 2007-08 will exceed $155 billion, Commerce and Industry Minister Kamal Nath said. The government has set an export target of $200 billion for the year 2008-09.
Larsen & Toubro (L&T) will aim to invest $3-4 billion in green hydrogen projects, along with its joint venture (JV) partners, said a senior executive from the company. These investments are planned over three to five years, depending on cost economics. The engineering conglomerate is also in talks to acquire the Nuclear Power Corporation of India's (NPCIL's) share in one of its forging JV companies for a consideration of Rs. 100-150 crore. "We are considering investments worth $3-$4 billion in the green hydrogen space, in collaboration with partners," said S N Subrahmanyan, chief executive officer and managing director of the company.
The delivery of the Tejas Light Combat Aircraft (LCA) to the Indian Air Force under a Rs 48,000-crore deal will begin from March 2024 and around 16 aircraft will be rolled out annually till the completion of the total supply of 83 jets, Chairman and Managing Director of Hindustan Aeronautics Limited R Madhavan said on Sunday.
With the global financial crisis hurting more companies in developed countries, Indian insurance firms have hiked premium rates by 25-30 per cent for export credit insurance covers and have imposed a host of restrictions such as maximum liability and credit limit in case of single buyers.
According to initial estimates available with the commerce ministry, these sectors, which constitute a third of India's export basket, have posted a dip of 18-54 per cent in December 2008. Exporters claim they do not have orders beyond January 2009, adding that the situation could lead to 10 million job losses if things did not improve.
Exporters are now looking at new markets.
In order to make India a major refuelling stop for airlines, the government on Friday announced that supplies, such as food and beverages, to international flights will be treated as exports.
With an eye on improving quality assurance in the wake of increased global scrutiny on Indian pharma products, the Centre on Tuesday said that Schedule M of the Drugs and Cosmetics Act, 1940 will be made compulsory for small and medium scale manufacturers in a phased manner. Union Health Minister Mansukh Mandaviya has asked micro-small and medium enterprises in pharma manufacturing to move towards good manufacturing practices (GMP) through self regulation. "This will help in quality assurance and also reduce compliance burden," Mandaviya.
The primary problem is that India's garment factories are too small and they typically have 150 people and about 80 machines.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Ordering suspension of exports, China's quality control watchdog said it has sealed the bead toys, highly rated for its popularity with kids, at the level of the producer, whom it did not name and asked the quality control agencies to launch inspections. Spain has also ordered the toys to be withdrawn from the market in the latest series of recalls.
The ED said AB Exports Pvt Ltd is a "shell" or fake company owned by Prasad's son and Bihar deputy Chief Minister Tejashwi Yadav and Chanda Yadav (another daughter of the RJD chief) and its registered address is the bungalow located in the New Friends Colony area.
Indian firms have seen a significant fall in orders in the year-to-date period.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
The main factors contributing to the above-50.0 PMI reading were growth of both new orders and output as market conditions returned to normal and led to subsequent improvement in demand.
The Central Bureau of Investigation has registered five cases in connection with illegal iron ore export scam worth Rs 2500 crore and carried out searches at 17 locations, including in the premises of associates of jailed mining baron G Janardhan Reddy, on Saturday.
The country's manufacturing sector activity grew at the slowest rate in four months during March, hampered by softer rises in new business as international demand faltered owing to the coronavirus pandemic, a monthly survey said on Thursday. The headline seasonally adjusted IHS Markit India Manufacturing PMI fell to 51.8 in March, from 54.5 in February, signalling the slowest improvement in business conditions since November 2019. This is the 32nd consecutive month that the manufacturing PMI has remained above the 50-point mark.
The US government on Tuesday shut down -- for the first time in nearly 18 years -- as the Republican and the Democrats failed to strike a deal on spending and budget mainly due to their differences over 'Obamacare', the flagship healthcare programme of President Barack Obama.
Swedish furnishing major IKEA, part of the Ingka Group, is inviting its investment arm - Ingka Investments - to India, a senior company executive said during an interaction in New Delhi. The move suggests that the group is looking at India as a priority market. The areas of investments being considered by Ingka Investments could range from taking stake in companies across sectors such as renewables, recycling, real estate, and software which synergise with IKEA's broader retail requirements.
Global buyers are putting pressure on exporters to offer discounts between 10 per cent and 15 per cent.
The Parliament security breach on Wednesday was well-coordinated, meticulously planned and carried out by six accused, five of whom have been nabbed, police sources said on Wednesday.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
Initial commerce ministry estimates suggest a 10 per cent contraction in exports in December. Coming after 12 and 9.9 per cent falls in October and November respectively, India is unlikely to meet the export target of $ 200 billion in the current fiscal. The last quarterly dip occurred in 2001, when exports were in the negative territory for six consecutive months ending December that year, data provided by the Reserve Bank of India and the commerce ministry showed.
'India is a pharma dada. We can manufacture enough for our people and for the world.'
Unlike Israeli company NSO, whose sale of Pegasus cyber tech grabbed worldwide attention, and other manufacturers of offensive-cyber products, Cellebrite operates in a grey area between security exports and civilian ones.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
PMI increased from 52.0 in August to 56.8 in September -- highest since January 2012.
India will export its first warship later this month, a move that is seen as a big leap for the country's defence public sector units.
The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Before putting in place this mechanism, banks will require prior approval from the Foreign Exchange Department of the Reserve Bank of India (RBI), the central bank said in a circular. "In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR," it said.
Facing flak from opposition Congress on the mining issue, the Karnataka government on Monday ordered a probe by Lokayukta into illegal export of minerals, including iron ore, from 2000 till date.
'It was a machinery of death. A large number of Hindus were first converted and then persecuted from 1560 all the way to 1812!' says novelist Richard Zimler.
Marketing representatives conducted consumer research in four major areas of India --Mumbai, Kolkata, Delhi, and the tri-city region that includes Bangalore, Hyderabad and Chennai.
A day after ordering closure of 10 ports in the state to prevent illegal export of iron ore, the Karnataka government on Tuesday announced it will ban issue of permits to transport the mineral for exports.
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