Page 73 - India

Trade settlement in INR btw India-Bangladesh to boost commerce: CII EXIM

India and Bangladesh commencing cross-border trade settlement in Indian rupee (INR) would promote two-way commerce by reducing transaction cost, an industry official said on Sunday. CII national committee on EXIM Sanjay Budhia said that since all exports and imports and settlement of trade transactions under this arrangement may be denominated and invoiced in INR, this would also reduce dependence on the US Dollar and would address situations like scarcity of forex reserves apart from strengthening regional currency and trade. In July, Bangladesh and India launched trade transactions in rupees with the aim of reducing dependence on the US dollar and strengthening regional currency and trade. This is the first time Bangladesh has done bilateral trade with a foreign country in addition to the US dollar. "This would certainly promote the growth of trade between the nations and support the increasing interest of the global trading community in INR," Budhia said adding due to this ...

High-level India-EU meetings this month to boost FTA talks, says official

High-level meetings between India and the European Union (EU) will be held this month to take stock of the progress of talks on the proposed free trade agreement, according to an official. "The EU officials are coming for the G20 trade ministers meeting this month in Jaipur. There is a high-level meeting at the minister level on August 26 in the national capital between India and the EU. "Commerce Secretary Sunil Barthwal is also likely to meet EU Director General for Trade Sabine Weyand in Jaipur," the official added. These meetings would give an impetus to the ongoing negotiations between the two sides on the free trade agreement (FTA). The G20 Trade and Investment Ministerial Meeting, under India's G20 Presidency, is scheduled at Jaipur on August 24-25. So far, five rounds of talks have been held on the agreement. India and the 27-nation bloc resumed negotiations on June 17 last year after a gap of over eight years on the proposed agreements on trade, investments and Geographi

India to support clean water project at school in Tuvalu with $700,000

The Permanent Representative of India, Ambassador Ruchira Kamboj, said that India's philosophy views the whole world as one family and this project is another step

India a willing partner to find solution to Russia-Ukraine conflict: Doval

NSA Doval on Saturday arrived in Jeddah to participate in a summit of national security advisers and other officials being hosted by Saudi Arabia to discuss the ongoing Russia-Ukraine conflict

Govt appoints Sanjay Kumar Agarwal as CBIC chairman, to succeed Vivek Johri

The government on Saturday appointed Sanjay Kumar Agarwal as chairman of the Central Board of Indirect Taxes and Customs (CBIC). Agarwal succeeds Vivek Johri who superannuated on May 31. "The President of India is pleased to appoint Shri Sanjay Kumar Agarwal, IRS, ...member CBIC as chairman CBIC in the department of revenue ...with status of Special Secretary to the Government of India with effect from date of assumption of the post...," the finance ministry said in an office order. Agarwal was holding charge of CBIC member compliance management, looking into investigations. In a separate order, the ministry said Surjit Bhujabal, currently principal director general, DGGI, has been appointed as CBIC member. The CBIC board has a chairman who is assisted by six members who look into tax policy, customs, IT & taxpayer services, GST, compliance management and vigilance.

Leading laptop manufacturers register to make their product in India

As many as 44 IT hardware manufacturers including global PC makers have registered for manufacturing laptops, tablets and personal computers in India, an official source said on Saturday. The official, without naming any company, said that IT hardware production in the country is expected to repeat the success that has been achieved in mobile phone manufacturing under the production linked incentive (PLI) scheme. "Leading laptop companies have registered for PLI and some of them are ready to start manufacturing in India any time. Global server companies have said that they want to make India an export hub for servers," the official said. The government has fixed August 30 as the last date for manufacturing IT hardware under Rs 17,000-crore PLI scheme. According to Counterpoint Research, Lenovo, HP, Dell, Apple and Acer were the top five companies in the personal computer segment in the June 2023 quarter. Research Director of Counterpoint Research Tarun Pathak said the total laptop

Factbox: India's measures targeting Chinese products and investment

Relations between the countries have deteriorated since mid-2020, when Chinese and Indian troops clashed on their disputed Himalayan frontier and 24 people were killed

Shiv Sena (UBT) to host 3rd meet of Oppn bloc 'INDIA' on Aug 31-Sep 1: Raut

The Uddhav Thackeray-led Shiv Sena (UBT) will host the third meeting of the opposition bloc INDIA in Mumbai on August 31-September 1, party Rajya Sabha MP Sanjay Raut said on Saturday. Speaking to reporters after a Maha Vikas Aghadi meeting in this connection, Raut said Thackeray will host visiting opposition leaders, including five chief ministers, for dinner on August 31. The two-day deliberations, which will be held at Grand Hyatt in the suburbs, will begin in the evening of August 31 and from 10am on September 1. The meeting will be followed by a press conference, Raut informed. MVA leaders will talk to the state government on issues of logistics and security for the visiting leaders, including Congress' Rahul Gandhi, he said. "The MVA leaders who met today resolved to ensure the INDIA meeting is a success on the lines of the ones in Patna and Bengaluru. We have assigned responsibilities to each of the leaders for preparations of the two-day meeting," Raut said. Among those wh

LS gives nod to bill to evolve disciplinary code for tri-services military

A new tri-service legal architecture, it is hoped, will bring in benefits such as maintenance of effective discipline by the heads of ISOs

India, Peru to resume FTA discussions to promote commerce, investment

The official also said that Chile has also shown interest in a trade deal with India. Both countries had in 2005 also signed a preferential trade agreement

India, Peru to resume FTA talks to promote commerce, investment: Official

India and South American country Peru have decided to resume negotiations for a proposed free trade agreement (FTA) with an aim to promote two-way commerce and investment, a top government official said on Friday. "We have decided to proceed with the FTA negotiations. We would be working out the priority areas...Post September, we will start engaging," Commerce Secretary Sunil Barthwal told reporters here. He also said that Chile is also requesting a similar agreement. "If the countries are interested in FTAs, we will also look into possibilities," he said at the sidelines of CII's India-LAC conclave. The talks for an FTA were halted after a few rounds due to the breakout of the Covid-19 pandemic in 2020. The main chapters of the trade agreement could include market access for goods, trade in services, movement of professionals, investments, dispute settlement, technical barriers to trade, trade remedies, rules of origin of goods, customs procedures and trade facilitation. In an

India might cut or abolish wheat import tax: Food Secretary Sanjeev Chopra

India in June imposed a limit on the amount of wheat stocks traders can hold, for the first time in 15 years, to bring down prices

Applied Materials to bring its global suppliers to set operations in India

India is a key market for US-based Applied Materials where the firm plans to invest $400 million over coming years in a new engineering centre in the tech hub of Bengaluru

Gyanvapi row: ASI survey underway at mosque complex amid tight security

The Anjuman Intezamia Masjid committee has challenged the ruling in the Supreme Court (SC), a request that will be heard later today

Apple hits record iPhone sales mark in India despite global slowdown

The company, which just opened its first stores in the country, is planning to extend its network in India as part of an Asia-wide thrust

India Restricts Import Of Laptops, Computers: Here's why

India has restricted imports of laptops, tablets and personal computers with immediate effect. The move's spirit is to push manufacturing to India. Watch the video to know more.

New era of Indian equity outperformance is dawning: Morgan Stanley

In India, Morgan Stanley believes, the situation is in stark contrast to that in China. India, it said, is arguably at the start of a long wave boom

India dismisses 'baseless' reports that it opposes BRICS expansion

With the upcoming BRICS summit in Johannesburg set to discuss admitting new members, India on Thursday dismissed as "baseless" reports that it is opposed to the expansion of the grouping. It is learnt that New Delhi is yet to take a final decision on Prime Minister Narendra Modi's in-person attendance in the summit of the five-nation grouping from August 22 to 24. The summit is set to extensively deliberate on expansion of BRICS (Brazil, Russia, India, China and South Africa). The United Arab Emirates, Saudi Arabia, Argentina, Iran, Indonesia and Kazakhstan are among countries which have shown keen interest in joining the grouping. "We have seen some baseless speculation that India has reservations against the expansion. This is simply not true," External Affairs Ministry Spokesperson Arindam Bagchi said at a media briefing. "We have talked about India's position on expansion and we have clarified our position in the past. As mandated by the leaders last year, BRICS members are ..

India to attend Jeddah conference on Ukraine's peace plan on Aug 5-6

India is among a select group of countries invited by Saudi Arabia to a two-day conference on Ukraine's peace plan that will take place in the coastal city of Jeddah from Saturday. External Affairs Ministry Spokesperson Arindam Bagchi said on Thursday that India's participation in the meeting would be in consonance with its long-standing position that dialogue and diplomacy are the way forward to resolve the Ukraine crisis. Several European nations, the US, China and India are among the countries invited to the conference. "Yes, India has been invited to a meeting being hosted by Saudi Arabia on Ukraine in Jeddah," Bagchi said, replying to a question in his weekly media briefing. "India will participate in this event and our participation is in consonance with our long-standing position that dialogue and diplomacy is the way forward," he said. The MEA spokesperson, however, did not mention who will represent India at the conference. "We will let you know (about level of participa

India should go for younger cheetahs habituated to humans: African experts

Younger cheetahs that are habituated to management vehicles and human presence are preferred candidates for relocation to India, international experts involved in Project Cheetah have told the government based on lessons learnt from the initial experience in Madhya Pradesh's Kuno National Park. In a status report submitted to the government recently, the experts emphasised that younger cheetahs are more adaptable to their new environments and have higher survival rates compared to older cheetahs. Younger males display "lower aggression" towards other cheetahs, reducing the risk of intraspecific competition mortality, commonly known as cheetah infighting. Considering the costs associated with relocating cheetahs to India, the experts highlighted that younger cheetahs have a longer life expectancy post-release, offering higher conservation value and breeding potential. The experts said younger cheetahs "habituated to management vehicles and humans on foot" allow easier monitoring of