Senior officials from different ministries, including finance, home affairs and defence, would be attending the meeting. The last BOA held on August 11 had allowed Maytas Ventures, promoted by the disgraced former Satyam chairman B Ramalinga Raju's son, to surrender its biotech SEZ and approved three new proposals, including that of Brooke Bond Real Estates IT/ITES tax-free enclave in Karnataka.
Exporting mango to the United States is now turning out to be a bitter experience, Commerce Secretary Rahul Khullar has said.
During April-February, 2011, the country's merchandise shipments grew by 31.4 per cent to $208.2 billion, surpassing the export target of $200 billion for the entire 2010-11 fiscal.
India's exports grew by 13.2 per cent in July to $16.24 billion year-on-year, a rate much lower than witnessed in the first three months of this fiscal because of the fading base effect.
Mahindra Satyam has approached the Commerce Ministry for more time to develop the three IT Special Economic Zones in Andhra Pradesh as it has decided to go slow on its expansion plans due to the slowdown.
Gopal Krishna Pillai, senior Indian Administrative Service officer of the 1972 batch, is going to be the next Union Home Secretary. Pillai, who is serving as the Union Commerce Secretary, will take over from current Union Home Secretary Madhukar Gupta in mid-June. Gupta is slated to be appointed as the governor of Tripura.
This is higher than the target of $200 billion for 2010-11, set by the government.
The country's trade deficit widened yet again, to $9.7 billion (Rs 43,500 crore) in October, compared to $9.12 billion in the earlier month. Also, after a span of three to four years, merchandise exports have surpassed the growth rate of imports in the same month.
Imports for October stood at $27.7 billion, widening the trade gap to $9.7 billion.
The study has been conducted by Ernst & Young on behalf of EEPC-India, the apex body of engineering goods exporters.
While no reason has been given for postponement of the BoA meeting, commerce secretary Rahul Khullar is indisposed, an official said.
Imports, too, jumped by 32.2 per cent year-on-year to $29.67 billion in August, according to the government data released in New Delhi on Friday.
Exports grew by 22.5 per cent to $16.64 billion in August compared to the same period last fiscal, a senior Commerce Ministry official said on Wednesday.
The country's exports, which came under severe pressure due to the global slowdown after October 2008, had aggregated a shade lower than $13 billion in January 2009.
Batting for exporters hit hard by global downturn, Commerce and Industry Minister Anand Sharma on Monday met Finance Minister Pranab Mukherjee and made out a strong case for fiscal relief for the export sector in the Budget next month.
India's exports turned around in November after falling for 13 straight months, posting a growth of 18 per cent to touch $13.2 billion, but the expansion was attributed to base effect.
The Union government on Friday said it intended to lift the ban on export of cotton, imposed last month in the wake of a steel rise in prices, from October 1.
India's exports remained robust, as overseas shipments expanded by 35.1 per cent to $16.1 billion in May on the back of improving demand in western markets.
"The 46th meeting of the BoA on SEZs to consider proposals for setting up of SEZs and other miscellaneous requests is scheduled to be held on May 31," it said.
India's exports grew by an annualised 34.4 per cent to $ 23.9 billion in April maintaining a tempo of the last financial year despite a decline as compared to 44 per cent growth in March.
India's imports surged by a never-seen-before $8 billion in April, indicating the rapid pace of domestic economic activity, even as the government downplayed the 36.2 per cent jump in exports.
Citing "serious fiscal situation", Union Commerce Secretary Rahul Khullar said that no new incentives and sops could be provided to exporters in the next fiscal in view of significant resource crunch faced by Centre.
Senior officials from G-12, including the US, EU, India and China, stepped up efforts to keep the Doha trade negotiations on rails by placating Brazil, Argentina and South Africa, which have specific concerns with trade in industrial goods. Brazil's chief trade negotiator Roberto Azevedo threatened to leave the negotiations if the special flexibilities for the four MERCOSUR Customs Union members -- Brazil, Argentina, Paraguay and Uruguay -- are not conceded.
India's chief trade negotiator Rahul Khullar yesterday warned that the much-planned ministerial meeting, which the World Trade Organisation Director General Pascal Lamy wants to convene soon, can succeed only if there was a revised Doha Rules text reflecting the concerns of all the members and an immediate resolution of TRIPS-CBD issue.
India's exports have declined by 13.8 per cent to $13.6 billion in September, says Commerce Secretary Rahul Khullar.
In April-August this fiscal, the overseas shipment contracted by 31.3 per cent to $63.9 billion from $93.1 billion in the same period last year. For the first five month of 2009-10, three sectors -- rice, tobacco and fruits and vegetables --have shown positive growth, commerce secretary Rahul Khullar said.
India's exports grew by a healthy 30.4 per cent in June to $17.75 billion, Commerce Secretary Rahul Khullar said here on Monday.
The ban on export of wheat and rice may be eased only after the government fulfills the election promise of providing 25 kg of staple food to poor families at Rs 3 a kg, Commerce Secretary Rahul Khullar said.
Telcos demanding OTT players to come under some sort of regulation as they are eating into their SMS and voice revenues.
In the absence of progress on services negotiations in the WTO, India is sending a team of officials to Europe to strike a deal in the services area with the EU under the Bilateral Trade and Investment Agreement.
'Mere fundamentals will not do the trick,' cautions former commerce secretary Rahul Khullar.
The government on Thursday launched a Grievances Redress Cell for exporters and importers in a bid to improve the of the directorate general of foreign trade.
'Tinkering will not do. Merely staggering spectrum dues comes nowhere near solving the problem,' cautions Rahul Khullar.
VoIP services include communications applications such as Skype, Line and Viber
Vagela could not have reached this position if Narendra Modi, who'd known him from his chief minister days, had not backed the choice.
TRAI to soon put in place a new set of 'service quality benchmarks' to monitor call drop
No one expects the government to publicly concede policy mistakes. But it can shed denial; and, stop the point-winning debating style to the formulation of public policy, says Rahul Khullar.
We should brace ourselves for more bad news in the coming quarters -- on economic output and growth, strains on the fiscal deficit, export slowdown, small and micro enterprises in distress, and further accumulation of NPAs in the banking sector, says Rahul Khullar.
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According to the regulator, a large number of complaints relate to calls or messages received by consumers on behalf of banks, insurance companies and builders.
Trai chairman Rajiv Khullar says, India has to pull up its stocks in order to achieve financial inclusion.
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