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www.thedollarbusiness.com Vol.3 Issue 43 Saturday, February 25, 2017 For subscribers only

$133billion, amount of stressed loans, banks in India had, as of September 2016
15.20%y-o-y growth in fruits & vegetables imports in January 2017, compared to the same month in 2016, as per Ministry of Commerce, GoI

News update

India-Uganda bilateral ties yet to reach true potential: Ansari

‘Indian companies should lay sights on the East African market.

PTI

Vice President Hamid Ansari today termed business ties of India with Uganda "dynamic" and key to bilateral relations but said the trade between the countries is yet to reach its "true" potential.

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Volkswagen eyes SUV segment in India, to launch Tiguan this year

Volkswagen is planning to strengthen its presence in the SUV segment in Ind

The Dollar Business Bureau

The world's largest car manufacturer looks to scale up its presence in the Indian market. It is reintroducing its premium sedan Passat this year, in addition to its newly unveiled performance-oriented hatchback GTI. The company in one of its recent announcements said it is eyeing at positioning itself as an "accessible premium car brand" in the world’s fourth-largest automobile market.

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WTO's trade facilitation agreement comes into effect

The TFA will give a boost to the global trade.

PTI

The WTO's trade facilitation agreement, which seeks to ease customs norms, has come into effect from Wednesday with its two-thirds members ratifying the pact.

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Indian economy remains a bright spot in global landscape: IMF

Cashin said fall in oil prices had boosted economic activity in India.

The Dollar Business Bureau

India’s economy is strongly growing and continues to be a bright spot in world’s landscape in spite of temporary hurdles due to demonetisation, said a senior IMF official. IMF, in its yearly country report on India, said that the expected growth is at 6.6% in the current fiscal year and at 7.2% in the next fiscal.

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S&P calls India's fiscal deficit target 'reasonably ambitious'

Debt to GDP ratio below 60% needed for a ratings upgrade: S&P.

The Dollar Business Bureau

"The negative effects of India's demonetisation on economic activity have begun to reverse. However, it is still far from returning to pre-November 2016 trends," a report from S&P Global Ratings revealed. The fiscal deficit target of 3.2% was labelled 'reasonably ambitious' in the APAC Economic Snapshots report.

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Cyient partners ANSYS Inc to set up simulation lab

ANSYS will provide access to various training materials and curricula.

The Dollar Business Bureau

The simulation lab in Hyderabad will possess a seating capacity of about 12 and will contribute in driving innovative design thinking to create POC in areas such as Additive Manufacturing, Internet of Things (IoTs), Mechatronics and other areas identified as growth engines for future.

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Electronics imports up by 26% due to influx of Chinese products

Electronics exports fell by 10% in January to Rs.3,162.73 crore.

Aamir Hussain Kaki

The influx of cheap electronic products from China has led to an increase in imports of these products in India in the month of January. As per Ministry of Commerce estimates, imports of electronics increased by 26% to Rs.26,757.59 crore in January, compared to Rs.21,220 crore in the same month last year.

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Circulars & Notifications

Paragraph 4.34(i) of the Foreign Trade Policy (FTP) 2015-2020 amended Dated 23rd February, 2017 | Copy of | Notification No.40/2015-2020 | In exercise of powers conferred by Section 5 of FT (D&R) Act, 1992, read with paragraph 1.02 of the Foreign ... Read more

Foreign Exchange Compounding Proceedings Rules, 2000 amended Sl.22 Dated 20th February, 2017 | Copy of | Notification Sl.22 | In exercise of the powers conferred by section 46 read with sub-section (III) of section 15 of the Foreign Exchange ... Read more

Extension of last date in respect of Anti-Circumvention case Sl.14 Dated 17th February, 2017 | Copy of | Notification Sl.14 | The aforesaid case was initiated on 19/02/2016. The Hon’ble High Court of Delhi has granted stay vide order dated 27/04/2016. ... Read more

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