The finance, commerce and industry ministries have firmed up the contours of Development of Enterprise and Service Hubs, or DESH, which could allow companies to defer their import duty liabilities, among other concessions, officials privy to the deliberations told ET.
Companies may get to defer import duty in new economic hubs
India is hoping to conclude free trade agreements (FTA) with Canada, UK and European Union (EU) in the next few months to revive and promote exports, according to Commerce and Industry Minister Piyush Goyal. He urged manufacturers to focus on quality and sustainable manufacturing processes to capitalize on business opportunities in the developed world.
While the Government of India is still grappling with this new legislation — a bolt from the blue when New Delhi is engaging with the 27-nation bloc to craft a favourable free trade agreement (FTA) — Indian exporters will have to bear the brunt of it, especially those shipping commodities such as coffee, leather hide, […]
The government has been actively working towards building community-centric, grassroots level solutions. These efforts are slowly coming to fruition now. The government has been working towards mobilising the farmers to form farmer cooperatives and farmer producer organisations (FPOs) across the state and over 350 such collectives have been formed in the last 3 years.
For the development of inland water transport in the country, 111 waterways — including five existing and 106 new ones — spread over 24 states have been declared national waterways under the National Waterways Act, 2016, Sonowal said.`
Cargo handling capacity of ports to rise in 2024
2 years ago
India’s cargo handling capacity at ports is expected to get a fillip from 2024 with commissioning of some facilities at Vizhinjam in Kerala and beginning of work at Vadhavan in Maharashtra. The first stage of the Vizhinjam Port is nearing completion and it will serve as the country’s first mega transhipment container terminal, said officials.
The heaviest of the three is at 1286 MT, making it the single largest ODC ever to be transported via Brahmaputra. The other two ODCs are weighed at 1248 MT and 741.12 MT. All the three ODCs set sail together from Diamond Harbour in Kolkata to NRL jetty through Indo Bangladesh Protocol Route (IBPR), and […]
India, UK close to concluding FTA talks, working to iron out issues on IPRs, rules of origin
2 years ago
India and the UK are close to wrapping up negotiations on a proposed free trade agreement (FTA), with the remaining issues largely relating to intellectual property rights, rules of origin and investment treaty, according to a senior government official. The UK will be the first developed country with which India has such a comprehensive FTA.
“Export of de-oiled rice bran under ITC HS code 2306 and under any other HS code is prohibited until November 30, 2013,” the DGFT said in a notification. India is a leading exporter of deoiled rice bran, which is used in the cattle feed industry.
Singapore in close contact with Indian authorities to seek exemption from non-basmati rice export ban
2 years ago
Singapore is in close contact with Indian authorities to seek exemption from the country’s ban on export of non-basmati rice, the city state’s food agency said on Friday. “Singapore Food Agency (SFA) is working closely with importers to increase the import of different varieties of rice from various sources. Singapore is also in close contact […]