 "Basmati Rice")
PLI scheme nodal agencies under watch as Centre readies for review
The Centre is taking a hard look at agencies responsible for implementing the ambitious production-linked incentive (PLI) scheme to ensure that the powers given to them are not misused, people aware of the matter said. The PLI schemes, 14 in all, are being implemented through five project-monitoring agencies (PMAs) — Industrial Finance Corporation of India (IFCI), Small Industries Development Bank of India (Sidbi), Metallurgical and Engineering Consultants (MECON), Indian Renewable Energy Development Agency (IREDA), and Solar Energy Corporation of India (SECI). Read more
US tech companies flag 20 policy barriers in digital trade with India
The Washington-based Computer & Communications Industry Association (CCIA), which has Google, Uber, Meta, Amazon, amongst others, as its members, has identified 20 policy barriers to US-India digital trade. These include the amendment to the IT Act, which imposes additional requirements under the Intermediary Rules (2021), the Content Moderation Act, the equalisation levy, and the proposed Telecom bill. Read more
India seeks import duty relaxations for basmati rice in FTA with UK
India may be seeking a reduction in import duties on some basmati rice varieties from the UK as part of the Free Trade Agreement (FTA) negotiations. This is to ward off a growing challenge from its nearest competitor in basmati rice Pakistan and also create a wider demand for domestic products, trade and industry sources said. Read more
US drug shortage a shot in the arm for Indian pharmaceutical companies
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Drug shortages in the US are at an all-time high, and price erosion has stabilised, which could benefit Indian pharmaceutical (pharma) companies with a US focus, according to analysts. Nuvama Research analysts said that US price erosion seems to have normalised to its old levels of 6-8 per cent and volumes are picking up with easing of inventory. Read more
Review committee set to clear Rs 41,000 crore Nicobar Port project
A high-powered committee (HPC) formed to scrutinise the environmental clearance (EC) given to the Centre’s ambitious Great Nicobar transshipment port project is likely to give its all-clear to the proposed project, which has been halted since April, multiple senior officials told Business Standard. On April 3, the Kolkata Bench of the National Green Tribunal (NGT) put a two-month stay on any further work in the EC granted to the project. The Rs 41,000 crore project would be on hold until the NGT-appointed committee scrutinises the green approval granted by the Centre, read the order. Read more
