A slow reversal of the trend seems underway now, amid renewed concerns over the level of the country’s defence preparedness and arms and arsenal – capex turned out to be 24.6% of defence expenditure in FY20; indications a
In a late-night notification on Thursday, the Directorate General of Foreign Trade (DGFT) put coloured TV imports under the “restricted” category, which means traders have to seek licences to buy these products from overs
The MEIS would remain valid until December this year and is to be replaced with a more WTO-compatible scheme, RoDTEP, which reimburses all levies (that are not subsumed by GST) paid on inputs consumed in exports.
Also, despite a duty hike last year, imports of products like base metal mounting, fitting or similar items meant for furniture, etc, fell by only 3.7% y-o-y in FY20, when overall merchandise imports were down by as much as 7
Diversion basically serves two purposes: the essentially Chinese products enjoy duty-free access and it also doesn’t reflect in China’s overall massive trade surplus with India, which stood at a massive $48 billion in FY2
The International Monetary Fund (IMF) has predicted a 4.9% contraction for 2020 global GDP, warning that the Covid-19 outbreak has plunged the global economy into its worst recession since the Great Depression in 1930s.
However, Indian exporters feel it will be tough for Bangladesh to ramp up supplies to China and improve trade balance, given Beijing’s typical use of non-tariff barriers to scuttle tariff concessions to trading partners.
Of course, with structural reforms and appropriate policy interventions in areas ranging from pharmaceuticals to mobile and auto parts, the domestic industry can build capacity, but that will be a longer term proposition.
MS Sahoo, the chairman of the insolvency regulator IBBI, says rescuing a viable company that employs people is far more important than failing to liquidate an unviable one during the current crisis when the market does not ha
SBI recently took Anil Ambani to the Mumbai bench of the National Company Law Tribunal (NCLT) for personal guarantee given on loans worth over Rs 1,200 crore to Reliance Communications and Reliance Infratel.