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The Dollar Business Bureau In the wake of increasing trade measures of the US against India and its decision to review eligibility of India for certain products for duty benefits, Commerce and Industry Minister Suresh Prabhu said on Tuesday that in order to resolve all trade issues, Indian government is actively working with the US and is also following Word Trade Organisation (WTO) rules to protect the interests. “I can assure you, the only guiding principle for engagement with the US is to protect India’s commercial interest in its entirety,” Prabhu said while speaking at the launch of a platform - ‘FIEO GlobalLinker’ for micro, small and medium scale exporters (MSME) for digitising their businesses.  On April 13, the US announced that ...

Interview by Sisir Pradhan | The Dollar Business The Dollar Business (TDB): Give a brief outline about your logistics, especially warehousing capabilities in India and other parts of the world Shrichand Chimnani (SC): DB Schenker is one of the leading global 3PL (third-party logistics) logistics service providers. We offer seamless end-to-end supply chain solutions to regional and global customers through our hubs across the globe. In India, we have our presence in 36 locations with 61 facilities including strategically located 30 Schenker Logistics Centers (SLCs) with more than 1,300 workforce dedicated to support the customer-specific requirements. TDB: How critical role a warehouse can play in the entire logistics value chain for a freight forwarding company as well as its clients? ...

The Dollar Business Bureau In a major breakthrough, 54 countries have agreed to ensure duty-free trade in more than 200 electronic and IT products, including medical equipment, which will ultimately reduce prices of such items across the world. In a meeting in Geneva, 54 member countries of the World Trade Organisation (WTO) have signed a deal to remove import tariff on 201 products that account for around 7% of the total global trade. The annual trade in these products is valued at more than $1.3 trillion per year. Terming the agreement “a landmark”, WTO Director-General Roberto Azevêdo, said, “Eliminating tariffs on trade of this magnitude will have a huge impact. It will support lower prices — including in many other sectors ...

The Dollar Business Bureau Taking a step towards the goal of 'Make in India' and 'Digital India', the government on Tuesday released a roadmap for machine-to-machine (M2M) communications. The roadmap will serve as a reference document for the use of machine communications. “M2M communications will impact every aspect of life of common man and results in substantial and tangible social and economic benefits to consumers, businesses, citizens and government,” Union Minister of Telecommunication Ravi Shankar Prasad said while releasing the roadmap. He said when the country is focusing on digital empowerment, it has to be ensured that it plays a lead role in the implementation of M2M technologies. The minister also asked all concerned agencies to join hands to ...