India and Israel have vowed to enhance cooperation in combating the menace of terror, with Tel Aviv terming 'New Delhi's security as important to it as its own.'
The exports data for September would be announced next month. The exports data for September would be announced next month.
The commerce and industry ministry may withdraw incentives offered to certain export-oriented industries and reallocate these to the sectors that are struggling for survival after a review in April.
The commerce ministry wants the stimulus packages for exporters to continue for some more time till the sector recovers completely.
The reasons given for the refusal include misbranding, adulteration, packaging, labelling, pesticides, unapproved products.
India's exports are likely to remain at the last year's level of $168 billion owing to the global slowdown.
"We have close to about 175 press notes circulating... the Industry Ministry has taken a decision to put all of these together in a booklet so that the FDI rules become much simpler for a foreign investor."
India needs to look at newer markets for exports apart from the three primary markets of the European Union, the US and Japan, Union Minister of State for Commerce and Industry Jyotiraditya Scindia said on Wednesday.
"If we continue with the polices in terms of assisting exporters . . . as long as we see those numbers climbing every month in an environment around the world where output and trade is shrinking, I think this is reassuring sign," Minister of State for Commerce and Industry Jyotiraditya Scindia said on the sidelines of a CII function in New Delhi.
India has offered African countries --Botswana, Angola, South Africa and Namibia, incentives to strengthen their jewellery industry in return for direct procurement of rough diamonds from these countries.
Foreign direct investment into India has surged to over $25 billion in 2007-08 and the country's foreign exchange reserve crossed $341 billion as of Tuesday, Ashwani Kumar, minister of state for commerce and industry has said.
'The home minister has made it clear that the government will not repeal the laws. Shah-ji said the government will give tomorrow in writing the amendments which the government is keen to. We will decide about attending the meeting after discussing the written amendments with all 40 farmer unions'
India may allow selective foreign direct investment from Pakistan, if the political situation in the neighbouring country improves. At the moment, both the countries do not allow FDI flows between each other.
Given the strong fundamentals of the Indian economy, it will be able to sustain a growth rate of over 8 per cent over the next ten years and continue to attract investments in services and manufacturing sectors, Indian Minister of State for Commerce and Industry said in New York. "Despite some developments that are not favourable, we will still manage to have robust growth," Ashwani Kumar said.
Over one lakh people have lost their jobs in the export sector in the last five months due to the global downturn, the Rajya Sabha was informed on Wednesday.
India's retail business, the second largest employer after agriculture, is estimated to touch $590 billion in two years, Parliament was informed on Monday.
The minister also said that we should not paint the entire private sector companies as villains because of one bad firm. He said that the government will take steps to restore investor confidence, but did not elaborate on the issue.
Hit by demand slowdown in the major markets of the US and Europe, India's exports grew by a meagre 3.4 per cent to $168.7 billion in 2008-09 over $163 billion in a year ago period. The government is taking steps to arrest the downslide in exports, minister of state for commerce and industry Jyotiraditya Scindia said on Sunday after taking charge.
Ecommerce firms will have it tough as govt turns down FDI proposal.
As of now, pursuing an FTA with China is not a priority, he said, adding that "no final decision will be taken on a free trade agreement with China without consultation with all stakeholders including industry". India and China have set up a joint study group to ascertain the feasibility of an FTA. While negotiations are underway, industry bodies like Ficci and Assocham have asked the government to adopt a cautious approach before signing the agreement.
According to Sanjeev Chopra, secretary of the horticulture and food processing department of West Bengal, steps were being taken so that exporters from the state could sell overseas at least 1 per cent of the total state produce through the AEZs.
Citigroup Inc, the largest US bank, has asked India to liberalise its financial services sector, saying it would help the country maintain and improve over eight per cent GDP growth.
Foreign direct investment (FDI) in India declined by about 15 per cent to $12.6 billion (Rs 74,971 crore) during April-October this year, Parliament was informed on Wednesday.
India on Tuesday asked foreign entrepreneurs to take advantage of the investor-friendly atmosphere in the country and said it was the right time to pump money in the country, especially in its manufacturing sector.
Show cause notices have been issued to the publishers of The Hindu, 'Star Dust', 'Overdrive' and cigarette manufacturers -- ITC, Gold Flake and Phillip Morris - for violation of the Tobacco Products Act, the Rajya Sabha was informed on Wednesday.
The government on Wednesday said that the South Asia Free Trade Area Agreement that envisages phased tariff liberalisation will come into force from January 1, 2006.
The government said on Wednesday more than 200 applications for setting up special economic zones are pending with it.
India on Wednesday ruled out withdrawing the Most Favoured Nation status given to Pakistan despite Islamabad's refusal to grant the same to New Delhi.
To further boost bilateral economic ties with the US, Confederation of Indian Industry would organise a series of road shows, 'IndiaConnect-USA', from April 8-18.
The government will announce a new foreign trade policy next month aimed at boosting exports especially from agriculture sector.
The government has set up a committee to examine the regulatory structure of the gold industry to make India a gold trading hub, Minister of State for Commerce and Industry K S Elangovan said on Monday.
In a bid to improve coordination between the party and the government, at least one Union minister will be available at the BJP headquarters everyday starting Wednesday to hear grievances and suggestions from partymen.
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.
Starting a business in India takes 152 days compared to just 5 days in the United States, 41 in China and 24 in Pakistan, according to World Bank.
There is a need to have a balance in these negotiations so that environment friendly products from developing countries also get improved market access
India has asked the United States to bring 850 additional agricultural, chemical and pharmaceutical items within the purview of Generalised System of Preferences scheme which allows duty-free entry for specified products into US markets.\n\n\n\n
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