Tag: Imports
17 Results
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LG for import duty exemption on open cell television panels
At present, imported open cell television panels attract five per cent customs duty. The South Korean giant also said it will continue to manufacture TV sets in India, and invest to enhance its capacity.
July 14, 2019 -
Brands, retailers urged to focus on local sourcing
The appeal was made following the observation of a 53 per cent jump in imports of readymade garments from Bangladesh, ITF Convenor, Prabhu Dhamodaran said in a statement here.
May 27, 2019 -
RBI stops use of LoUs for trade credit for imports
In a major decision, RBI on Tuesday banned banks from issuing Letters of Undertaking (LoUs) — instruments used allegedly by diamantaire Nirav Modi and his uncle Mehul Choksi to defraud state-owned PNB of Rs nearly 13,000 crore in connivance of bank officials. The RBI said the decision to discontinue the practice of LoUs and Letters …
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March 13, 2018 -
ASSOCHAM seeks 10% customs duty on pulp imports in Budget
Industry chamber ASSOCHAM has urged the Centre to impose 10 per cent customs duty on import of hardwood chemical pulp and bleached chemi-thermo mechanical pulp to encourage domestic production. “The move will provide fillip to job creation and promote overall economic development of India’s vast rural hinterland housing pulpwood plantations,” the industry chamber said in …
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January 16, 2018 -
Commerce Min for slashing gold import duty in Budget
The commerce ministry has pitched for reduction in import duty on gold in the forthcoming Budget with an aim to promote gold jewellery exports, a senior government official said. The Gems and Jewellery Export Promotion Council (GJEPC) has demanded cut in import duty on gold to 4 per cent from the current 10 per cent. …
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January 15, 2018 -
India’s April-October trade deficit with China at $36.73 bn
India’s trade deficit with China stood at $36.73 billion for the period of April-October period, parliament was informed on Monday. Imports from China stood at $43.46 billion, while exports stood at $6.73 billion during the period under review, Minister of State for Commerce & Industry C.R. Choudhary told the Lok Sabha in a written reply. In …
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December 19, 2017 -
Jaitley-led panel reviews edible oil availability
An inter-ministerial panel headed by Finance Minister Arun Jaitley on 27 July reviewed edible oil availability in the country and discussed ways to deal with rising imports, sources said. Although no decision was taken by the inter-ministerial group (IMG), sources said, a cabinet secretary-led panel comprising secretaries from the ministries of finance, commerce, food and …
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July 28, 2017 -
‘India-Africa trade may touch $117 bn by 2020-21’
India's trade with African countries is likely to touch $117 billion by 2020-21 on account of improved economic ties and strong business opportunities, according to a report. Indian exports to the African continent are expected to grow to $70 billion by 2021-22 from $24 billion in 2015 -16 due to rising complementaries, the PHD Chamber …
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July 24, 2017 -
Chinese exports, imports beat expectations in June
Growth in Chinese exports and imports outstripped expectations in June, data showed on Thursday, fuelling hopes of stability in the world's second-largest economy. Exports rose 11.3 per cent from a year ago to $196.59 billion, the customs administration said, topping a Bloomberg News forecast of 8.9 per cent. Imports were up 17.2 per cent year-on-year …
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July 13, 2017 -
Govt may impose countervailing duty on certain steel products
The government may impose countervailing duty of 18.95 per cent on imports of certain kind of flat steel products from China to guard domestic players from cheap imports. In its final findings, the Directorate General of Anti- Dumping and Allied Duties (DGAD) has concluded that despite sufficient demand in India and capacities, the domestic industry …
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July 10, 2017 -
India’s April exports up by 20 per cent
India's exports revival continued for the eighth successive month, recording 19.77 per cent growth during April 2017, official data showed on Monday. According to data released by the Ministry of Commerce and Industry, exports grew by 19.77 per cent to $24.63 billion from $20.56 billion worth of merchandise shipped out during April 2016. "In continuation …
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May 15, 2017 -
US to investigate aluminum dumping by China, Russia
The Trump administration has launched an investigation into the impact of aluminum dumping by countries like China and Russia citing a threat to US national security. "Imports have been flooding into the aluminum industry," the US Commerce Secretary Wilbur Ross told reporters at a White House news conference. Ross said this is in reaction to …
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April 27, 2017 -
India mulling antidumping duty on acrylic fibre from 5 nations
India is considering to impose anti-dumping duty on a certain type of fibre as the commerce ministry has started a probe on the imports of this commodity from the European Union, China, Belarus, Ukraine and Peru. The ministry's anti-dumping investigation arm-Directorate General of Anti-dumping and Allied Duties (DGAD) – has found “sufficient” evidence of dumping …
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April 23, 2017 -
Anti-dumping duty likely on chemical import from 6 nations
India may impose anti-dumping duty of up to $118 per tonne on import of a chemical used by industries in applications such as corrosion control and paper bleaching from six countries including Korea, Indonesia and Pakistan. The move is aimed at guarding domestic players from cheap imports of 'Hydrogen Peroxide' from Bangladesh, Taiwan, Korea, Indonesia, …
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April 18, 2017 -
Pakistani exports to India grow despite border tensions
Despite mounting tension along the border, the trade between Pakistan and India has remained intact since the beginning of the current fiscal year, a media report said on Friday. A report by the State Bank of Pakistan (SBP) revealed that Pakistan grew its exports to India during the first eight months of 2016-17 while curtailing …
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April 14, 2017 -
Special emphasis to discover strategic,critical minerals: President
President Pranab Mukherjee on April 12 stressed the need to discover deeper mineral sources to meet future demand and make India self-reliant by reducing dependence on imports. “The near-surface mineral deposits are depleting very fast. Hence, the geo-scientific community has to step up to meet the demand for future resources by finding deeper sources for …
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April 13, 2017 -
Steel exports surge 102% in FY 17, imports fall 36.6%
Overtaking imports, India's steel exports jumped by 102.1 per cent in 2016-17 to 8.24 million tonnes (mt), as compared to 4.07 mt shipped out in the previous financial year (2015-16), according to a Steel Ministry's report. "Export of total finished steel was up by 102.1 per cent in April-March 2016-17 at 8.24 mt over same …
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April 12, 2017