India’s two-decade long efforts to offer itself as an alternative to China in electronics manufacturing is finally finding success, thanks to a variety of global and local developments
India is in talks with 23 parties, including the European Union, the Gulf Cooperation Council, ASEAN and Israel, on various types of trade agreements, according to data from the central ministry of commerce and industry. Besides the above entities, India is also in talks with countries such as Sri Lanka, Thailand, Mauritius, New Zealand, Singapore, […]
India Ratings, a unit of Fitch Group, has predicted that India’s GDP growth will not return to the 6% or 7% rate in the next financial year due to structural problems, but will show a slight improvement over the current year. The current year, which will end on March 31, is likely to see a […]
India’s finance minister Piyush Goel has blamed international factors for the current decline in the rupee’s value against the dollar, and said India’s financial situation is much improved from the UPA days. “All our macro economic indicators are strong,” Goyal said. “But on the international scene, there have been announcements on oil and on Iran, […]
So far, Donald Trump has earned many fans in India for his tough stance on terrorism, especially that emanating from India’s western neighbor Pakistan. Soon, he may win over a new class of fans — bikers — thanks to his latest attempts to reduce import duties Harley Davidson bikes in India. India has a policy […]
The government of India today said that it has stopped taking new applications for setting up Electronic Manufacturing Clusters under a plan announced five years ago. A total of 18 electronic manufacturing clusters in 12 states were approved to be set up under the scheme, the government said. The cluster scheme envisaged the housing of […]
India had good news on the foreign trade front as exports continued to grow fast, overtaking the growth in imports. However, there was no relief from continued trade deficit as the absolute import figure was substantially higher than exports. Exports during November 2017 rose 30.55% in dollar terms when compared with the same month last […]
India’s comerce and industry minister Suresh Prabhu and his deputy will announce a ‘revised’ foreign trade policy for the country at 4 PM today, the government said. The current Foreign Trade Policy, which sets long-term targets for exports growth, trade gap and so on, was announced in 2015 and aimed to take India’s exports from […]
The government of India has warned against the import of illegal chemicals used in making fireworks and sought citizens’ help in tracking them. “Possession and sale of fireworks of foreign origin is illegal and punishable under the law,” it said in a statement today. “Information about possession and/or sale of such fireworks may be reported […]
Even as attempts are made to lower the consumption of Chinese products in India by a section of the population, Xiaomi said it has sold 50 lakh units of Redmi Note 4 smartphone in India in six months. A total of 100 mln smartphones are expected to sell in India in 2017, and going by […]
Textiles and garments brand Raymond inaugurated a garment manufacturing plant in Ethiopia to gain duty-free access to the US and European markets. The plant was set up at a cost of Rs 100 cr and will employ over 2500 people in the first phase. More people will join later, the company said. Ethiopia also gives […]
Indian apparel makers have sought government intervention to stabilize the rupee, which has been rising in recent months, in stark contrast to the situation in other countries that compete with India in exporting garments. “Other countries started taking recourse to depreciating their respective currencies during the last one-and-a-half years, whereas Indian Rupee got appreciated,” complained […]
Incidents related to smuggling of fertilizer and narcotics on the Indo-Bangladesh border fell sharply in 2016, but there was a compensatory increase in drug smuggling cases along India’s border with Bhutan and Nepal, according to data from the Union Home Ministry. Fertilizers — which cost less in India because of government subsidies — are smuggled out, […]
The government has extended the rewards under its merchandise and services export from India schemes to units located in special economic zones. Special economic zones are areas — usually located close to seaports or airports — where normal custom, labor and tax laws of the country do not apply. In many ways, companies in SEZs […]
The government of India said it cannot seek to slow down imports of solar power generation equipment from China as it has to watch out for the interests of Indian consumers as much as those of Indian industrialists. Responding to questions from the opposition in Lok Sabha on why India was not taking action to help the […]
Tata Consultancy Services, the largest Indian-owned outsourcing company, said it is able to manage with 75% less new visas this year as it has changed its business and recruitment models in recent years. It also said that outsourcing was key to protecting US jobs, and is not the villain as portrayed. The statement from Rajesh […]
A new study by the Exim Bank has found that around 15% of the total jobs in India are related to India’s exports sector, including both IT, BPO and material goods such as garments. The total number of jobs supported by aggregate Indian exports increased from about 34 million in 1999-00 to 62.6 million in […]
India may have emerged as a key supplier of generic and affordable medicine for the world market, but it has an “overwhelming dependence” on China for the raw material required to produce these drugs, industry association Assocham said. Indian companies depend on China to supply them with the main raw material in drug making — […]
Informal trade or smuggling of goods between India and Pakistan is estimated at over USD five billion, almost double the official two-way commerce between the two neighbours with history of chequered ties, said an ASSOCHAM study. There are more exports from India than imports through the smuggling route. The official Indo-Pak trade is only USD […]
Fitch Ratings said in a new report that pessimism over China’s short-term outlook is overdone and a growth pick-up in the second half is already in the pipeline. ‘But expectations for the economy’s growth potential in the medium term are shifting lower as the scale of the restructuring challenge becomes clearer,” it said. Global capital […]
