The Indo-American Society invites management students and business professionals to a seminar on importing from USA.
The recent Foreign Trade Policy announcement to waive service tax for exporters had the backing of the Prime Minister, Commerce Ministry sources said on Tuesday.
The commerce ministry is currently firming up the annual supplement to the FTP, which is likely to be unveiled in April. Referring to the export performance during 2007-08, Commerce Minister Kamal Nath said, actual export was likely to remain short of the target of $160 billion. The exports during the year were likely to reach a level of $152-155 billion, he added.
Financial subsidies that are not WTO-compatible will have to be phased out and GSP benefits will not be available for long. Things have just got tougher.
Commerce and Industry Minister Kamal Nath said on Saturday that India now must gear up for agricultural exports apart from export of manufactured goods and services.
The trade policy specifies that "for all goods and services exported from India, services received, rendered abroad, wherever possible, shall be exempted from service tax".
India has set a target of $160 billion for merchandise exports during 2007-08.
The government can argue the change targets only those residing abroad but the fact remains that it does affect the kin and friends in India of non-residents.
The government has notified a list of 57 countries in Africa and South America that would get duty benefits under the Focus Market scheme, announced in the Foreign Trade Policy early this year, to boost exports.
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.
The commerce minister ought to seek validation for his incentives with the finance ministry.
Foreign direct investment to India is zooming. FDI inflows to the country during 2006-07 surged to a record $16 billion, according to the annual supplement of the Foreign Trade Policy unveiled on Thursday.
Industry believes economy could grow well but worries about hampering by lack of infrastructure.
The change in the Foreign Trade Policy means that jet fuel sold in India to international flights will be treated as physical exports and not attract most of the domestic tariffs.
India's exports on Friday crossed the $100 billion mark to reach $101 billion in 2005-06
Commerce and Industry Minister Kamal Nath has announced the annual supplement to the Foreign Trade Policy.
India on Friday unveiled a slew of trade initiatives to emerge as a global hub for jewellery and auto parts and increase services exports, while pegging the export target at $120 billion in 2006-07.
India on Friday said it would make imports of precious metals and stones easier in order to promote gems and jewellery exports.
Buoyed by the momentum created in the last fiscal, India's export target for 2005-06 has been revised upwards to $92 billion from $88 billion, Union Minister of State for Commerce E V K S Elangovan said on Monday.
Indian business forums on Tuesday welcomed a government plan to forge an ambitious national foreign trade policy which aims to double annual exports to more than $150 billion in the coming years.
New guidelines and procedures have been laid down for import of metallic scrap and waste in the wake of the recent loss of life and property in explosions caused by live shells in imported scrap, the Rajya Sabha was informed on Monday.
Modi campaigned on the issue of national security, which cannot be ensured without a strong economy.
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