Page 13 - India Imports

Top Headlines: Govt to curb imports of Chinese fans, rural FMCG demand dips

Business Standard brings the the top headlines at this hour

Rural distress harming MSMEs, pulling down manufacturing: Economists

Government's PLI schemes can help manufacturing and reduce import dependence in some sectors, say some experts

Need separate ministry for pharma to counter Chinese imports: Industry CEOs

The government needs to set up a separate ministry for the pharma sector to encourage domestic producers and decrease Chinese imports, opined CEOs while participating in a discussion on the challenges being faced by the sector. In a CEO Roundtable at the 15th edition of CPHI & PMEC India held on Tuesday, the Chief Executive Officers (CEOs) of companies, including those from RPG Life Science and Fermenta Biotech, also discussed ways to shift the focus of the domestic industry from volume to value. The leaders also pointed out the need to reduce dependency on China by using technology. Organisation of Pharmaceutical Producers of India (OPPI) Director General Vivek Sehgal said that the industry needs to collaborate and co-work and unite for collective voice on IPR related issues. The leaders also discussed having a single industry organisation to put across the grievances of the pharma industry before the government. Speaking at the inaugural session of the 15th edition of CPHI &

India's finished steel imports from Russia hit 4-year high in April-October

India's finished steel imports from Russia during April-October rose to their highest in at least four years, government data showed

ECTA: The dawn of a new era in Indo-Aus relations

Indian exports and manufacturing will be equally benefited with the duty-free import of raw materials from Australia for their competitiveness

What is going wrong with Indian exports?

The impact of the global slowdown is beginning to be felt in India. The country's goods exports have contracted for the first time in two years. What went wrong with India's exports story?

India likely to import 64% less soyabean; nil soyabean meal in FY23: SOPA

The total availability of soyabean is estimated at 147.55 lakh tonnes this season, higher than 126.27 lakh tonnes in the previous season

India's exports contract for first time in 2 years; imports moderate

Decline 17% to $29.8 billion in October

Tax-authorities tighten noose around under-invoicing of Chinese imports

Tax authorities suspect a tax evasion of more than Rs 16,000 crore through under-invoicing by businesses from April 2019 to December 2020

FM should clear the air on 'pre-import' matter

The Customs have started sending show-cause notices (SCN) to several exporters alleging violation of 'pre-import' condition in case of imports without payment of IGST under advance authorisations

World food import bill to be at record high of $1.94 trillion in 2022: FAO

The world food import bill is estimated to rise to US$1.94 trillion in 2022, higher than previously expected, according to the latest Food Outlook forecast released by the FAO

Piyush Goyal asks exporters make price adjustments to retain market share

A temporary change in pricing will help them accommodate short-term challenges, an official statement says; minister reviewed sectoral progress in exports with EPCs and Industry bodies

Under scanner: Special mechanism for sharing trade data in the works

CBIC come across 12-13 cases of import-export data leaks to dark web

Indian importers should use rupee's recovery to increase hedges: Analysts

The rupee was up at 82.3250 per US dollar, compared with 82.7250 in the previous session and the record low of 83.29 reached last week

Better for Indian policymakers to understand what makes oil prices move

India imports more than 85% of its crude, half of its gas, and 60% of the cooking fuel, and any uptick in rates reduces the purchasing power of Indian households, something that is called inflation

Rupee trade with few nations may start, internationalisation will take time

Rupee trade with few nations may start, internationalisation will take time

Solar projects can't use concessional duty as govt seeks to curb imports

Step seeks to stop project developers from avoiding basic customs duty, but it could raise cost of production

Chatroom: 'Drawback of IGST also available on re-export of imported goods'

This is subject to submission to Customs a certificate from the local GST officer that input tax credit has not been taken, and no refund of such ITC or IGST paid on the goods has been claimed

India demands nearly $250 million from Pernod for undervaluing imports

Pernod is the second-largest spirits company globally and in India. The notice from India's customs authority, dated June 27, relates to liquor concentrates imported from a Pernod subsidiary

Fertiliser firms willing to import phosphoric acid at 40% less price

Fertiliser companies are looking to import phosphoric acid at USD 1,000-1,050 per tonne, which is around 40 per cent cheaper than the price quoted by global suppliers in the September quarter, as international prices have declined. Phosphoric acid is a key raw material for the manufacturing of DAP and other NPK fertilizers. According to sources, the price of phosphoric acid was USD 1,715 per tonne for the last quarter ended 2022. International prices of DAP (Di-ammonium phosphate) fell sharply during the last quarter and therefore the rates of phosphoric acid are also expected to fall, they added. The international prices of phosphoric acid are decided on quarterly basis. The key international suppliers are OCP Morocco, JPMC Jordan, Senegal etc. Sources said a company has purchased a cargo of phosphoric acid from Senegal at price of USD 1,200 per tonne, but the rate is still higher. Leading Indian fertiliser companies are looking to buy phosphoric acid at USD 1000-1050 for the ne