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Suresh Prabhu to announce revised export policy, targets at 4 PM today India's comerce and industry minister Suresh Prabhu and his deputy will announce a 'revised' foreign trade policy for the country at 4 PM today, the government said.The current Foreign Trade Policy, which sets long-term targets for exports growth, trade gap and so on, was an...
NRI bank accounts see mega outflows as Gulf crisis hits earnings Net bank deposits by non-resident Indians have fallen by nearly 90% so far this financial year as more and more foreign workers dipped into their bank accounts in the face of a crisis in the Gulf region, industry association ASSOCHAM said.Net bank deposits -- the difference ...
India’s trade gap doubles in May as exports grow fast India's merchandise imports continued to grow at a blazing pace, widening the gap between the foreign exchange that the country earns from its exports and the money that it has to shell out for its imports.Imports for May rose by 33% compared to a year ago, resulting in a do...
Industry welcomes move to include made-ups in apparel package SIMA has welcomed the move include made-ups in the apparel packageThe industry has welcomed the move by the government led by Narendra Modi to extend support to the made-ups export industry and said it would help the sector break out of its current slump.The cabinet had ...
India gold price jumps Rs 796 for 10 grams Expect the unexpected is the case what we see in gold price today.The country saw a sudden hike in the gold price today as Rs 30,820 for 10 grams from yesterdays price of Rs 30,024.The price for 10 grams has rose by 796 rupees from yesterday in India.UPDATE: As of 151...
Rajesh Exports starts second phase of retail expansion with Bangalore Gold Jewellery exporter, Rajesh Exports Ltd said it launched its 81st retail showroom under it's brand name ´Shubh Jewellers´ at Bangalore.“With this launch the company has launched it's second phase of retail expansion. The company in the second phase of retail expansion has...
India signs 15 year contract for exploration of gold and platinum in the Indian Ocean Government of India has signed a 15-year contract with the International Seabed Authority (ISA) for the exploration of Poly-Metallic Sulphides deposits, which constitutes of gold, platinum, iron, copper, zinc and silver, in the Indian Ocean, said the Ministry of Earth Sciences. ...
PAPER GOLD: Govt raises Rs 820 cr in fifth tranche of sovereign gold bond scheme The amount realised through the 5th Tranche of Sovereign Gold Bond (SGB) Scheme, is expected to cross Rs. 820 crore, the ministry of finance said.This was mobilised through over 2.00 lakh applications representing around 2.37 tonnes of gold."These numbers are likely to g...
India emerging as alternative to China in electronics manufacturing- study India’s attractiveness for manufacturers is growing due to availability of low-cost labor, said an ASSOCHAM-EY joint study.¨Rising manufacturing costs in China and Taiwan are compelling manufacturers to shift their manufacturing base to alternate markets. In 2014, the average...
Federal Bank starts distributing MMTC gold coins Federal Bank has become the first private sector bank to start distributing gold coins made by government-controlled Metals and Minerals Trading Corporation of India.The Indian gold coins are of 24 karat purity, 999 fineness and has the National Emblem of Ashok Chakra engrave...
No plans to forcibly take temple treasure under gold monetization scheme – Govt The government of India clarified that it had no plans to forcibly take gold from religious or other institutions under its recently launched monetization scheme.It came up with the clarification in the wake of media reports to the contrary."Some sections of the media hav...
Non-ferrous metal exports to China falls 36% in June In the midst of debate on the impact of slowdown in the Chinese economy on rest of the world, India’s engineering exports have started witnessing a negative fallout with a drop of 36 per cent in export of non-ferrous metals to China in June, 2015, an analysis by the EEPC India ha...
Strong domestic demand widens the trade deficit in June The trade deficit widened in June, partly due to a rise in non-oil-non-gold (NONG) imports, a key indicator of domestic demand."Details within the import bill throws up two interesting developments - higher food imports to augment domestic supplies ahead of potentially we...
Government finance dragging down India’s credit profile – Moody’s The Indian government's poor financial condition is the weakest aspect of India's credit profile, international ratings agency Moody's has said, adding that state-owned banks' poor assets are another area of concern.On the other hand, strong private savings and growth are pos...
$100 oil will keep India’s current account deficit under control – Crisil Research Crisil Research has cut its forecast for current account deficit this financial year to $32 bln, or 1.55 of GDP, from $47 bln, or 2.2% of GDP, due to the sudden fall in oil prices.A country's dealings with the rest of the world is divided into the current account and the capi...
Indian port capacity in need of expansion – Assocham India would need to undertake massive investments and upgrades at its seaports to handle future traffic, a study by Assocham found.Growing at a compounded annual growth rate (CAGR) of over eight per cent, the seaborne trade in India may cross 830 million tonnes (mt) mark ...
India’s exports, imports starting to pick up pace – Crisil Research India's exports and imports are both starting to show a pick up as economic conditions improve, Crisil Research said.The research agency's comments came after data for August showed that India's trade deficit fell to 4-month low of $10.8 billion due to a 15% y-o-y decline in ...
Gold, Real Estate demand could slow in coming months – Morgan Stanley Demand for gold, real estate and other physical forms of savings in India could decline in the coming months due to an expected fall in inflation, Morgan Stanley said.Gold, oil and real estate prices have risen many fold in the last one to two decades. They have risen faster ...