Monthly Archives: October 2017

Caution advised on Sept’s export cheer

October 26th, 2017 | Esther Parimala | Tags:

Oct 25, 2017 Though exports rose 25.7 per cent in September, economists and exporters advise caution in celebrating the return of sustained trade growth. Despite issues over liquidity, exports grew at a six-month high in September over a year before, maintaining the momentum of 13 months of rise even under the Goods and Services Tax (GST) regime. However, experts say the rise did not reflect the supply-side issues faced by industry. October’s easing in GST rules might take till November or December to reflect in the charts, they add. This […]

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Suresh Prabhu’s US trip to focus on more trade, easier visas

October 26th, 2017 | Esther Parimala | Tags:

Oct 25, 2017 Commerce and Industry Minister Suresh Prabhu is expected to discuss trade, visa and investment issues with his US counterpart when he travels to Washington DC this week for an interaction with the Trump administration. Officials in the know said an informal discussion on the World Trade Organisation (WTO) is also likely in which India will seek support for its agenda. The meeting will also discuss the US president’s daughter and White House advisor Ivanka Trump’s upcoming India visit. Under the new US administration, the decade-old strategic and […]

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Assam gateway to South-East Asian markets: CM Sonowal

October 26th, 2017 | Esther Parimala | Tags:

Oct 25, 2017 Assam state is emerging as the ideal destination for investments capable of catering to not only the North East and the rest of India but also to serve as the manufacturing and services hub for the ASEAN region, one of the world’s fastest growing region with an economy of more than USD 3 trillion, said Sarbananda Sonowal, Chief Minister of Assam at an event in New Delhi on Tuesday. Sonowal also announced that the largest-ever investment promotion and facilitation initiative by the Government of Assam, ‘Advantage Assam […]

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Apeda to promote north eastern products in Bangladesh, Myanmar

October 24th, 2017 | Esther Parimala | Tags:

Oct 23, 2017 The Agricultural and Processed Food Products Export Development Authority (Apeda) has taken up a programme for the promotion of north eastern products in Bangladesh and Myanmar. Apeda, an apex organisation under the Union Ministry of Commerce and Industry, proposes to organise the programme in Bangladesh and Myanmar in association with the High Commission of India in Dhaka and its Embassy in Yangon, an official release said here. The promotional event in Myanmar is proposed to be held in November and that in Dhaka and Sylhet in Bangladesh […]

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Kharif crops in good condition; not hit by rains: Pattanayak

October 24th, 2017 | Esther Parimala | Tags:

Oct 23, 2017 The harvest-ready kharif crops of this year are in good condition and have not been affected by recent heavy rains in some parts of the country, Agriculture Secretary Shobhana K Pattanayak said today. The minor losses due to rains in the isolated pockets was factored in during the first projection made last month with respect to total kharif (summer) foodgrains output for the 2017-18 crop year (July-June), he said. According to the first estimate, the kharif foodgrains output was likely to be lower at 134.67 mt in […]

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IGST refunds for exporters start, but at a slow pace

October 24th, 2017 | Esther Parimala | Tags:

Oct 23, 2017 In some relief to exporters, tax officials have begun clearing pending refunds of Integrated Goods and Services Tax (IGST), albeit at a slow pace. According to official data, of the total IGST claim of Rs.753 crore in July, only Rs.132 crore were sanctioned for refund in the first 10 days. The slow pace of IGST refunds is significant given that the GST Council, in its last meeting, had announced that all pending refunds for July and August would be cleared at the earliest — those for July […]

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Kandla Port gets green nod to develop Rs 1,176 crore smart city

October 24th, 2017 | Esther Parimala | Tags:

Oct 23, 2017 State-owned Kandla Port Trust has received environment clearance for setting up a Rs 1,176-crore smart industrial port city in KutchBSE 4.96 %, Gujarat, a senior official said. The proposal is to develop a smart industrial port city at two separate sites in Gandhidham which would house about 35,700 residential flats, schools and parks, and would generate jobs to more than 60,000 people. The Environment Ministry examined the Kandla Port’s proposal and gave the final environment clearance for developing a smart city at two identified sites, a senior […]

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Karnataka makes a global pitch for millets

October 22nd, 2017 | Esther Parimala | Tags:

Oct 20, 2017 Karnataka, a large producer of millets such as ragi, jowar, bajra and foxtail, is spearheading an initiative to place these nutrient-rich cereals on the global food plate. The State is organising an international event in Bengaluru in January to attract interest in millets. This is even as Indian consumers are seen increasingly attracted to global ‘super foods’ such as quinoa and chia seeds. We are continuing with our awareness campaign on millets and plan to take it to a larger platform soon, said Karnataka Agriculture Minister Krishna […]

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Momentum in India-UAE ties helping implement bilateral deals: Navdeep Singh Suri

October 22nd, 2017 | Esther Parimala | Tags:

Oct 20, 2017 The bilateral ties of India and UAE have a very strong momentum which is helping in implementation of the agreements signed between the two countries, India’s envoy to the UAE Navdeep Singh Suri has said. Suri said that very soon there might be an announcement about the Abu Dhabi Investment Authority entering into a formal relationship with the National Infrastructure Investment Fund. I don’t want to pre-empt this and you will see the details as they emerge, he told PTI. Our endeavour really is to translate many […]

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US to monitor India’s foreign exchange reserves

October 22nd, 2017 | Esther Parimala | Tags:

Oct 20, 2017   The US Treasury has said that it would keep a watch on India’s increasing foreign exchange reserves as Mint Street continues to accumulate the dollar to arrest the appreciation of the rupee. The Treasury will be closely monitoring India’s foreign exchange and macroeconomic policies,’ said the Treasury in a report titled Foreign Exchange Policies of Major Trading Partners of the United States. The report was submitted to the US Congress. A watch does not mean anything adverse or positive at this point, but it could become […]

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