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www.thedollarbusiness.com Vol.3 Issue 402 Monday, October 23, 2017 For subscribers only

300 million tonnesTarget set for steel production in the country in the National Steel Policy-2017
4.64%Decline in leather products imports in July 2017, compared to the same month in 2016, as per Ministry of Commerce, GoI

News update

Central government allows import of 3 lakh MT of raw sugar at 25% duty

The govt had in April permitted duty-free import of 5 lakh tonnes sugar.

The Dollar Business Bureau

The Central government has allowed imports of 3 lakh metric tonnes of raw sugar at a concessional rate of 25% tariff duty. The sugar can be imported only through southern ports such as Tuticorin, Chennai in Tamilnadu, Karaikal in Puducherry, Mangalore in Karnataka, Kakinada, Vishakhapatnam and Gangavaram in Andhra Pradesh.

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Trump administration to launch anti-dumping probe against steel flanges on India and China

The International Trade Comm will soon give an initial decision by Oct 2.

The Dollar Business Bureau

The US Ministry of Commerce has said it is likely to launch anti-dumping and countervailing duty probe of steel flanges being dumped by India and China into its markets.

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Govt’s full support to start-ups, created a Rs.10k cr corpus: Prabhu

“We are committed to promote start-ups in India,” said Prabhu.

The Dollar Business Bureau

The Government has set up a Rs.10,000 crore corpus and also provide guarantees to the amount of Rs.2,000 crore, the minister said in a video message to promising entrepreneurs on Twitter on Wednesday.

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Royal Enfield to bid nearly $2bn for Ducati India

Eicher Motors is the only Asian company bidding in the auction.

The Dollar Business Bureau

The Royal Enfield’s maker in India, Eicher Motors is bidding $1.8 billion-$2 billion for the Italian motorcycle manufacturer Ducati, according to a Reuters India news on Thursday.

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India to see sales of 30.81 mn electric vehicles by 2040: Amitabh Kant

Only 25,000 units of electric vehicles were sold in India in 2016-17.

The Dollar Business Bureau

NITI Aayog Chief Executive Officer (CEO) Amitabh Kant said on Thursday that the strong push by the Government towards e-mobility is targeted towards making India an export hub for electric vehicles. “The vehicle penetration in the country is the lowest among developing countries. At present, India has 20 cars per 1,000 people,” Kant said.

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Need to enhance investment with Russian Far East to achieve $30 bn trade: Swaraj

India has invested about $5.5 billion in Russia’s oil sector.

The Dollar Business Bureau

External Affairs Minister Sushma Swaraj said on Tuesday that there is a need to enhance trade, investment and commerce with the extreme eastern parts of Russia or Russian Far East in order to achieve the $30 billion target, set for bilateral trade between the two countries, by 2025.

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Circulars & Notifications

Exchange Rates w.e.f. 19/10/2017 Dated 18th October, 2017 | Copy of |Notification No.96/2017-Customs |  In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of ... Read more

Imports of “Colour coated/pre-painted flat products of alloy or non-alloy steel” from People’s Republic of China and EU Dated 17th October, 2017 | Copy of | Notification No.49/2017-Customs |  Read more

All Public Sector banks and ICICI Bank, Axis Bank and HDFC Bank Ltd. authorized to receive subscriptions under the Senior Citizen Savings Scheme Rules, 2004. Dated 10th October, 2017 | Copy of | Finance Notification Sl.128 |  In pursuance of sub-clause (ii) of clause (e) of rule 2 of the Senior Citizen Savings Scheme Rules, 2004, the ... Read more

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