The US solidified its status as an energy producer by posting the first full month as a net exporter of crude and petroleum products since government records began in 1949. The nation exported 89,000 barrels a day more than it imported in September, according to data from the Energy Information Administration on Friday. While the…
The Indian seafood industry has voiced concern at the US decision to continue with a ban on buying sea shrimps because they are caught by vessels without turtle excluder devices along the west coast of the South Asian nation, where their presence is negligible. The Marine Products Export Development Authority recently submitted to the commerce…
The steel ministry has set in motion a study on whether higher grade iron ore is being exported by passing off as lower grade material or pellets. Inferior grade ore with iron content up to 58 per cent and pellets are currently exempted from export tax while richer grade ore attracts 30 per cent duty.…
The US government announcing a 10 per cent tariff covering new commodities imported from China has some good news for India’s gem and jewellery industry. The 10 per cent tariff, starting September 1 if China’s government does not give satisfactory reasons against it, will apply to rough and polished diamonds, rough and polished “synthetic gemstones” as…
The commerce ministry mentioned that Indian businesses in Africa have suggested the government here to take steps such as improving line of credit system, setting up of banks and liberalise visa policies to grow investment and trade with Africa. These issues were highlighted by Indian business community in Africa during an interaction organised by the…
The return to power by Prime Minister Narendra Modi with a speedy win has buoyed global investor sentiment and is expected to increase a critical surge in cross-border investment and trade between the UAE and India, which are on track to cross $100 billion by 2020, a leading NRI investor said. Dr Azad Moopen, founder…
India’s seafood products are likely to have a competitive edge in the US markets, thanks to the imposition of an additional tariff of 25 per cent on Chinese imports. “The new decision will definitely be problematic for China. Initially, they could absorb the 10 per cent duty. But the recent tariff hike will not be…
Shapoorji Pallonji Real Estate(a subsidiary of Shapoorji Pallorji Group) is entering into Kenya’s real estate market with a multi-million dollar housing project. Although the project has not been named yet, it will be jointly constructed by Shapoorji Pallonji and Actis, with a budget of USD 118.5 Million (INR 8 Billion). They are going to develop…
NEW DELHI: Certain representations have been received from traders for reduction in customs duty on gold, Parliament was informed Monday. “Yes sir. Certain representations have been received for reduction in basic customs duty on gold. In past, Ministry of Commerce had recommended reduction in import duty on gold. Such representations are examined as a part…
WASHINGTON: The suspension of a US trade preference program with India is a “done deal,” a senior State Department official said on Thursday as Prime Minister Narendra Modi began his second term. President Donald Trump announced in March that his administration would terminate India’s access to the Generalized System of Preferences (GSP) trade program, which…