India to up services exports to China to fill trade gap

There is a need for India to expand its presence in Chinese markets so as to overcome the issues of trade imbalance with China, without interrupting the bilateral trade flow between the two economies. By Sai Nikesh D In a move towards bridging a widening trade deficit with China, the Government of India (GoI) is … More India to up services exports to China to fill trade gap

50% of exports to free ports examined physically

Customs need to fine tune its risk-based parameters for Risk Management System (RMS) to detect such cases By Sai Nikesh D Even as the Government of India (GoI) in its Union Budget 2015 announced strict and stringent measures to curb money laundering, sources said a surge in trade between India and the United Arab Emirates during … More 50% of exports to free ports examined physically

Steel producers ask Centre to act against growing imports

India’s steel imports during a period between April-January of the current financial year, stood at 8.1 million tons against 4.8 million tons year-on-year, registering a growth of 69%. In calendar 2014, India’s imports from China alone totaled 2.83 million tons compared to 1.25 million tons, an increase of 128%.  By Sai Nikesh D The domestic … More Steel producers ask Centre to act against growing imports

Telecom sector: Indigenous manufacturing key to ensure security

Speaking at the Make in India conclave, Rakesh Garg, Secretary, DoT, rasied concerns of Indian telecom sector saying that research is being done in India, but the Intellectual Property Rights are lying with foreign countries. He went on to say that even after manufacturing products locally, India is opting to buy the same from the … More Telecom sector: Indigenous manufacturing key to ensure security

India will be given Non-Discriminatory Market Acesss, says Pak

According to Pakistan Commerce Minister, by granting NDMA to India, Pakistan is looking to protect its business interests, especially that of agriculture sector. However, he said granting NDMA status to India is almost same as MFN status, which it was supposed to give India under its treaty to World Trade Organisation. By Sai Nikesh D Not … More India will be given Non-Discriminatory Market Acesss, says Pak

Indian sugar industry eagerly waiting for re-introduction of export subsidy: ISMA

Higher incentive of up to Rs.4,000 per tonne is under consideration for the current and upcoming sugar seasons, say reports By Sai Nikesh D The Indian sugar industry is hoping that the government will soon take a decision to re-introduce the export subsidy scheme for millers and also increase the incentives to offset the decline … More Indian sugar industry eagerly waiting for re-introduction of export subsidy: ISMA

India’s natural rubber imports may soar to 5 lakh tonnes in FY2014-15

Low international prices and lower domestic production resulting in higher imports, with no changes in the situation in sight, say industry experts By Sai Nikesh D Government intervention in convincing major tyre companies to purchase from local farmers in an attempt to stabilise domestic rubber prices may prove to be futile, with industry experts saying … More India’s natural rubber imports may soar to 5 lakh tonnes in FY2014-15