HOME > SOCIETY > Suresh Prabhu to announce revised export policy, targets at 4 PM today
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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 ...
Garment exporters seek better ‘zero rating’ under GST Representatives of apparel exports met commerce minister Suresh Prabhu and sought certain changes in the tax reimbursement scheme under the current Goods and Services Tax regime.Apparel exporters are eligible for reimbursement of various state and central taxes under two sch...
Govt seeks Citizen’s help in cracking down Chinese fireworks The government of India has warned against the import of illegal chemicals used in making fireworks and sought citizens' help in tracking them."Possession and sale of fireworks of foreign origin is illegal and punishable under the law," it said in a statement today."Inf...
Xiaomi sells half a crore Redmi Note 4 so far Even as attempts are made to lower the consumption of Chinese products in India by a section of the population, Xiaomi said it has sold 50 lakh units of Redmi Note 4 smartphone in India in six months.A total of 100 mln smartphones are expected to sell in India in 2017, and go...
Lypsa Gems unveils new portfolio for Middle East clients Lypsa Gems and Jewellery said it will launch a new portfolio of 100 designs under its diamond studded jewelry collection for its wholesale clients in the Middle East."The company is hopeful to receive orders from its wholesalers and jewelry retailers based in the Middle East ...
Raymond opens Ethiopia factory to cut costs, easy access to US, EU Textiles and garments brand Raymond inaugurated a garment manufacturing plant in Ethiopia to gain duty-free access to the US and European markets.The plant was set up at a cost of Rs 100 cr and will employ over 2500 people in the first phase. More people will join later, the...
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...
Apparel exporters bemoan rising rupee, seek support Apparel manufacturing is a big job creator in Tamil NaduIndian apparel makers have sought government intervention to stabilize the rupee, which has been rising in recent months, in stark contrast to the situation in other countries that compete with India in exporting garmen...
Smuggling down on Indo-Bangladesh border, up on Bhutanese side Incidents related to smuggling of fertilizer and narcotics on the Indo-Bangladesh border fell sharply in 2016, but there was a compensatory increase in drug smuggling cases along India's border with Bhutan and Nepal, according to data from the Union Home Ministry.Fertilizers ...
SEZ exports eligible for rewards under MEIS and SEIS schemes SEZ exports are now eligible for scripsThe government has extended the rewards under its merchandise and services export from India schemes to units located in special economic zones.Special economic zones are areas -- usually located close to seaports or airports -- whe...
Can’t block imports of cheap chinese solar panels – Nirmala Seetharaman The government of India said it cannot seek to slow down imports of solar power generation equipment from China as it has to watch out for the interests of Indian consumers as much as those of Indian industrialists.Responding to questions from the opposition in Lok Sabha ...
Center imposes stock-holding limits on sugar Faced with the prospect of lower-than-expected production of sugar in the ongoing season due to drought, the government has imposed stock curbs on dealers to prevent speculation and hoarding, the food and consumer affairs ministry said today."With the objective of keeping the...
TRUMP THREAT: TCS not worried, says we’re not the villains source: NasscomTata Consultancy Services, the largest Indian-owned outsourcing company, said it is able to manage with 75% less new visas this year as it has changed its business and recruitment models in recent years. It also said that outsourcing was key to protecting US j...
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 ...
Exports increase share of jobs in India – Study A new study by the Exim Bank has found that around 15% of the total jobs in India are related to India's exports sector, including both IT, BPO and material goods such as garments.The total number of jobs supported by aggregate Indian exports increased from about 34 milli...
India overdependent on China for medicines – study India may have emerged as a key supplier of generic and affordable medicine for the world market, but it has an "overwhelming dependence" on China for the raw material required to produce these drugs, industry association Assocham said.Indian companies depend on China to supp...
India-Pakistan invisible trade worth $5 bln a year – study Informal trade or smuggling of goods between India and Pakistan is estimated at over USD five billion, almost double the official two-way commerce between the two neighbours with history of chequered ties, said an ASSOCHAM study.There are more exports from India than imports...
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...
Worries over China overdone, recovery in progress – Fitch Fitch Ratings said in a new report that pessimism over China's short-term outlook is overdone and a growth pick-up in the second half is already in the pipeline.'But expectations for the economy's growth potential in the medium term are shifting lower as the scale of the res...
Cheap Chinese steel to continue to haunt Indian producers – Assocham Troubles within China are expected to spell disaster for the Indian steel industry as desperate Chinese manufacturers would dump their products more rigorously abroad, having already registered a growth of 232 per cent in their shipments to Indian ports, an ASSOCHAM study has...