| ieport Daily News - the place where you get the latest and the most relevant news. | |
|
ieport Home ieport Daily News Home By Month
|
 ieport Home : ieport Daily News Home : January 2007
ISLAMABAD: Pakistan on Friday notified a 5 percent reduction in tariffs on the import of 4,872 items from SAARC member countries. The reduction will be effective from December 31 under the Trade Liberalisation Programme (TLP) approved with the South Asia Free... (Read Article)
A person arrested for violating provisions of Customs Act where is allowed to import goods at duty-free charges for the purpose of re-exporting it, can now be released on bail. The Bombay High Court recently ruled that a trader who is arrested for importing... (Read Article)
There is reason to believe that the recent four-day visit of the Prime Minister, Dr Manmohan Singh, to Japan will help in heralding a new era of special partnership between the two countries. The time now seems most opportune to benefit from the complementarities... (Read Article)
Indian gems and jewellery exporters have received a mixed reprieve with the US President, Mr George W. Bush, signing in the third week of December 2006 the necessary legislation that continues the Generalised System of Preferences (GSP) for two years until... (Read Article)
Trade data show a widening gap between exports and imports and a ballooning trade deficit of $6 billion.At first glance, the data for external trade released for the July-September 2006 period seem to indicate a counter-trend to the growth story. With a promise... (Read Article)
It Seems Indian mangoes can finally make their way into the US market in the summer of 2007. After dilly-dallying for nine months, the US department of agriculture has started acting on US President George Bush’s promise to lift a 17-year-old ban on Indian... (Read Article)
Federation of industry & commerce of North Eastern region (FINER) has set on a 'promote Northeast' mission. FINER will ink an MoU with the Indian chamber of commerce, Hongkong and Indo-China Chamber of Commerce & Industry and Hong Kong trade development council... (Read Article)
India and China are going to give a fresh try to a bilateral trade agreement later this week, with officials from the two sides meeting in New Delhi, armed with a second opinion.A joint study group (JSG), which analyses the feasibility of a trade pact, had... (Read Article)
India and Asean economies have agreed in principle to reduce duties on 700 sensitive manufactured products to either 0% or 5% by 2018, commerce secretary GK Pillai told mediapersons on board the Prime Minister’s aircraft while returning from the India-Asean... (Read Article)
In a major shift in strategy on special economic zones (SEZs) in Maharashtra, the Mukesh Ambani-led Reliance group has decided to buy land outright from farmers, instead of involving any government agency to acquire it.Reasons for the move are many.The delay... (Read Article)
Kolkata , Jan. 17The new Harmonised System of Nomenclature (Tariff Classification System, launched from January 1, based on changes made by the Department of Revenue in the eight digit commodity classification of the Customs Tariff Act, has made smaller EPCs... (Read Article)
With SEZ becoming a political football and the ruling side getting increasingly wary of inviting popular backlash, the prime ministerial establishment on Wednesday decided to put on hold vetting of fresh proposals.Not just that. Even those SEZs which have got... (Read Article)
New Delhi Jan 19 The WTO Director-General, Mr Pascal Lamy, today sought India's co-operation in reviving the multilateral trade talks of the Doha Round.In a day of hectic activity, Mr Lamy called on Prime Minister Dr Manmohan Singh early in the day for a 30-minute... (Read Article)
New Delhi Jan. 19 The Union Commerce and Industry Minister, Mr Kamal Nath, on Friday strongly defended the Special Economic Zones in the face of mounting criticisms and said that the State governments perform "a proactive role in implementing the scheme."Giving... (Read Article)
PTI[ FRIDAY, JANUARY 19, 2007 ]NEW DELHI: WTO Director General Pascal Lamy on Friday met Prime Minister Manmohan Singh and sought concessions from India to revive the stalled Doha Round of negotiations.Briefing Singh in a 30-minute meeting about fresh efforts... (Read Article)
Comparisons are odorous, penned the Bard in the age of carriages and kings. In these days of fast cars and heady growth, it seems imperative always to learn, compare, and collect the facts! Consider, for instance, the booming automobile industry in China and... (Read Article)
Coimbatore/Pune Jan. 20 With the resumption of exports to UAE, the wholesale shell egg price recorded a five paise jump on Saturday to Rs 1.65 a piece in the Namakkal zone.The denial of entry into the Dubai market had been denting shell egg shipment to West... (Read Article)
Coimbatore Jan. 20 Knitwear exports from Tirupur during 2006 touched Rs 10,250 crore, according to the Tirupur Exporters Association.Citing export data collated from different banks, the association said this included Rs 9,650-crore worth of export transactions... (Read Article)
The government will consider imposition of sector-wise ceiling on special economic zones (SEZ) once 100 SEZs are notified, commerce & industry minister Kamal Nath said on Friday.As of now, the government has notified 63 SEZs. No new SEZ has been approved since... (Read Article)
PTI[ SUNDAY, JANUARY 21, 2007 ]NEW DELHI: Industry body FICCI has suggested a three-pronged strategy, including setting up an institutional mechanism to sort financial problems faced by exporters in order to boost Indo-Russia trade and investment and take it... (Read Article)
Having successfully deployed the export ban route to contain price increases in sugar and pulses, the Centre has set its sights next on milk. According to reliable information, a move is under way now to ban export of skimmed milk powder (SMP).The Agriculture... (Read Article)
Faced with labour law inflexibilities and constraints such as high power tariffs and infrastructure bottlenecks, Indian textile players are looking to shift production base. They are looking at alternative locations such as Uzbekistan and Kazakhstan, in a bid... (Read Article)
With a view to reducing the cost of manufacturing and encouraging infrastructure development, the Government has decided to reduce customs duty on cement, various raw materials and capital goods.The customs duty on Portland cements had been reduced from 12.5... (Read Article)
Though the meeting of the Empowered Group of Ministers for Special Economic Zones (SEZs) today ended `inconclusively,' the Government is toying with a proposal to introduce "export obligation" for SEZs so that serious players remain in the field and exports... (Read Article)
PTI[ TUESDAY, JANUARY 23, 2007 ]NEW DELHI: The government's decision to cut customs duty on 11 product categories to check inflation is likely to result in a revenue loss of about Rs 3,000 crore, even as the industry cautioned against its adverse impact on... (Read Article)
Kolkata. Jan. 24; The sudden ban on forward trading of tur and urad has attracted severe criticism from commodity market participants. The brokers and fund managers are unanimous that such action will disinterest risk hedgers and arbitrageurs to enter the... (Read Article)
Kolkata Jan. 24; The Indian Footwear and Components Manufacturers' Association has said that the Government's policy of allowing imports of listed items by exporters up to 3 per cent of previous year's f.o.b. export value without any customs duty, CVD and... (Read Article)
New Delhi Jan. 24 The Finance Ministry has yet again managed to overcome the Agriculture Ministry's opposition to effect a 10 percentage point cut in the basic customs duty on crude palm oil (CPO) and 12.5 percentage points in respect of RBD (refined, bleached,... (Read Article)
AGENCIES[ FRIDAY, JANUARY 26, 2007]TOKYO: Japan and India will start talks next week on a comprehensive free trade deal as the two Asian countries try to capitalise on warming political ties, officials said Friday.A Japanese delegation will head to New Delhi... (Read Article)
JANUARY 26, 2007 NEW DELHI: Russian president Vladimir Putin said on Thursday that his government is favourably inclined towards financing of investments by Russian companies in India by utilising the money under the rupee-rouble debt agreement.Detailed discussions... (Read Article)
India Inc doesn’t have to fret about any import duty cut in the Budget. Because states may soon impose a 4% value added tax (VAT) on imports. States may be allowed to levy VAT on imports as compensation for the phase-out of central sales tax (CST).The Centre... (Read Article)
THE ANDHRA PRADESH Additional Secretary (Industries), Mr K.R.K. Reddy, with Mr Bob Sharpless, Managing Director of Springfield Corporation, Australia, after the official signing ceremony in Hyderabad on Thursday for Odyssey Science City to be set up in Anantapur... (Read Article)
Coimbatore Jan. 26 The Centre permitting duty-free import of maize may not seem to be of immediate consequence to domestic end-users because of lack of parity between the domestic corn price and that of the imports. But the free import facility has given the... (Read Article)
New Delhi Jan. 26 Private dairies have criticised the Centre's proposed move to ban export of skimmed milk powder (SMP) in response to high prices and reports of nationwide milk shortages."To blame shortages on exports has little basis. The 47,300-odd tonnes... (Read Article)
Although trade and agriculture ministers agreed to restart WTO talks on the technical level, but no breakthroughs are apparent.Trade and agriculture ministers from two dozen governments agreed over the weekend that stalled World Trade Organization talks should... (Read Article)
|
