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The Dollar Business Bureau Confederation of Indian Textile Industry (CITI), an apex textile industry body, on Monday called for imposing protection measures in order to prevent the routing of cheap fabrics from countries such as China through Sri Lanka and Bangladesh, where India has free trade agreements. The garment industry in India will face tough competition from countries like Bangladesh as the garments imported from these countries are cheaper as the production cost is quite low compared to India, CITI said in a statement. As per the recent data released by the Export Promotion Bureau of Bangladesh, India’s garments import from Bangladesh has touched $87.4 million during the period July to November this year, witnessing a steep rise of 56% compared to $55.92 ...

Ahmad Shariq Khan India’s exports of bedspreads, in value terms, have seen a phenomenal rise in the last decade. And it’s one of those few export products where China plays catch-up to India. With India expected to further consolidate its leadership position in the coming years, bedspreads appear a safe and snug option for an export business.  When it comes to exports of bedsheets or bedspreads (HS Code: 630419; bedspreads of textile materials, not knitted or crocheted), India has always been a clear leader in exports. In fact, India’s overseas shipments of bedspreads in CY2015 stood at $980.33 million, against the world exports of $1.38 billion during the same period – that’s an impressive 70 percent global share! India’s dominance in exports of bedspreads ...

The Dollar Business Bureau Indian automobile industry has approached the government to consider a rupee-based payment system for trading with African nations since, as it said, the sector faced hurdles in the dollar denominated pay out from these countries.  “We have approached the Ministry of Commerce for rupee trade with African countries as we are facing a challenge in dollar trade in these big export markets like Algeria and Nigeria,” said Sugato Sen, Deputy Director of Society of Indian Automobile Manufacturers (SIAM). Sen said since some African countries cannot make payments in dollars, Indian automobile industry is witnessing a limited trade with these nations. He urged the Ministry of Commerce to negotiate rupee trade terms with these countries. The industry has also asked for ...

Steven Philip Warner | June 2016 Issue | The Dollar Business History is taught for a reason. You continue to believe it but drawing lessons from the graves to dictate your cerebral existence on an hourly basis hardly sounds an exceptional idea. I mean, how would it have mattered to your choice of something as casual as “What to prepare for dinner?” or as far-reaching as “Where to export?” at this present moment, if your school teacher had floated the idea of John Hanson and not George Washington being the first President of the United States of America? [Hanson was the first President of the US Continental Congress after the Articles of Confederation was ratified in 1781 – eight years before Washington became ...

The Dollar Business Bureau As many as 48 Indian plastic manufacturers will participate in the ‘India Pavilion’ of the 7th Expo Plast that started on Tuesday in Lima, the capital of Peru. The event will go on till this Friday, May 6. The Federation of Indian Chambers of Commerce and Industry (FICCI) is organising the ‘India Pavilion’ in Expo Plast Peru, the global exposition of the plastic industry. The Indian Ambassador to Peru Sandeep Chakravorty, inaugurated the India Pavilion. The members of the Organisation of Plastics Processors of India (OPPI) along with leading players of Indian plastics industry participated in the event. National Plastics Industry, Xpro and Chiripal Group are some of the partners supporting FICCI in this initiative. The MoUs were signed ...

The Dollar Business Bureau    Seeking to allay apprehensions over the impact of TPP (Trans-Pacific Partnership) agreement on India’s foreign trade, Commerce and Industry Minister Nirmala Sitharaman said the government has taken all “necessary steps” to tackle the “emerging new trade architecture”. “There is nothing to worry about the adverse impact of TPP on India. We have taken necessary steps to boost India’s trade and investment in the wake of emerging new trade architecture”, said Sitharaman while addressing the CII Partnership Summit in Vishakhapatnam, Andhra Pradesh, on Monday. The US-led trade agreement involving 12 Pacific Rim countries which was signed in October last year seeks to allow preferential trade of goods and services between the member countries. Countries engaged in TPP ...

On Thursday, several industry bodies met Commerce and Industry Minister Nirmala Sitharaman as part of the pre-budget consultation. The Dollar Business Bureau The Minister of State for Commerce & Industry Nirmala Sitharaman during a discussion on different aspects of industrial development with the Apex Industry Associations, in New Delhi on Thursday.   Indian industries have expressed concern over the impact of free trade agreements (FTAs) on the countrys trade and asked the government to find ways to increase investment in manufacturing sector. On Thursday, several industry bodies met Commerce and Industry Minister Nirmala Sitharaman as part of the pre-budget consultation and submitted their representations before the government. Exports, increasing competitiveness of some sectors, FDI and implementation of GST were major topics discussed during the meeting. We ...

Steven Philip Warner | The Dollar Business Eldrick Tont – the name does represent whatever an individual can achieve. Greatness, popularity, wealth, fame, praiseworthiness, and even indignity. For Eldrick, success was quick to come. Much before he walked out of his teenage shoes, he had become the number one in the world in his business. His ascent to being the best in the business did come early, and it wasn’t just a flash in the pan. He stayed. Rooted. Between early 1998 and late 2009, event after event, for abundance of luck or lack of an able, mortal competitor, he continued to hit pay dirt! The second richest African American, he took the world by storm. Endorsements followed his game, wealth ...