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The Dollar Business Bureau India’s apparel production has shown a decline of 10.4%, during the period April-January 2017-18, according to the India Industrial Production (IIP) data released by the Ministry of Statistics and Program Implementation. The production of apparels is witnessing a continuous decline since May 2017, on month-on-month basis. From a positive growth of 1.3% in April last year, the production declined by 5% in the month of May. In June, the decline was 3.2% while in July, it recorded a dip of 5.1%. In the months of August, September, October, November and December, the apparel output recorded a drop of 6.4%, 7.2%, 11%, 13.1% and 13.5%, respectively, as per the IIP figures. Commenting on the decline, HKL Magu, Chairman, Apparel Export Promotion Council (AEPC) ...

The Dollar Business Bureau The government said on Tuesday that taxes on entertainment, Direct-To-Home (DTH)  and cable services would come down in the new Goods and Services Tax (GST) as 'entertainment tax' that is imposed by the states has been included in the GST regime. The services offered through admission to cinematography films or entertainment events in cinema halls will be imposed with a rate of 28% under GST effective from July 1, the Finance Ministry said in a statement. Presently, the states levy entertainment tax of up to 100% with regard to exhibition of films in cinema halls/theatres. The entertainment tax has now been subsumed under the GST, and therefore only the taxes imposed by a municipality or panchayat on amusements and entertainments will stay. “Entertainment ...

The Dollar Business Bureau The wheat imports of India could rise in 2016-17, which will subsequently force the country to cut down on import taxes as incessant droughts lowered the output amid high demand, said an ITC executive on Friday. While the output of grains in India may slope downwards by 2.3% to about 85 million tonnes, India may import 5 million tonnes wheat in 2016-2017, said ITC’s group head of agri and IT businesses, Sivakumar. ITC, a giant in consumer products and a multi-billion dollar group, is one among the top private wheat buyers. Wheat imports will be the highest at 5 million tonnes since 6.7 MT of wheat was imported in 2006-07. In the previous year, 5,00,000 tonnes of wheat was imported, ...

The Dollar Business Bureau ITC, one of the leading FMCG companies, said that it will expand its range in the food segment with the launch of the new region-specific products. Besides the addition of 20 new products to the existing categories, ITC is expected to launch dairy whitener in June. In the next three years, ITC aims to set up 6-8 massive integrated plants for its own food division in Assam, West Bengal, Karnataka, Punjab, Maharashtra and Tamil Nadu. The plants will manufacture juices, biscuits and other products, said V L Rajesh, Divisional Chief Executive-ITC Food Division. Although he did not reveal the exact figures of the investments to be made, Rajesh revealed that the new plants are quite expensive and thousands of crores ...

The Indian FMCG major, with the acquisition of Technico India, is expected to expand its business and operational synergies, besides enhancing its world-wide operation in agri-business segment The Dollar Business Bureau Following the deal, Technico Agri Sciences Ltd. became a direct subsidiary of ITC Ltd. with effect from March 22, 2016   Indias FMCG giant ITC Ltd. on Thursday announced that it has taken over the Indian unit of Technico Agri Sciences Ltd. from Australia-based agri-biotech company Technico Pty Ltd. for $121 crore. ITC has taken over the entire equity share capital of Technico Agri Sciences, a company engaged in growing and selling seed potatoes and field generated seed potatoes, ITC said in a press release on Thursday. Following the deal, Technico Agri Sciences Ltd. ...

Dated October 9th, 2015 | Copy of | Notification No.24/2015-2020 | Amendment in policy condition 1 of Chapter 88 of ITC (HS), 2012 – Schedule – 1 (Import Policy). In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends the Policy Condition 1 of Chapter 88 of ITC (HS), 2012 – Schedule – 1 (Import Policy) as under: Existing Policy Condition 1 of Chapter 88 of ITC (HS), 2012 – Schedule – 1 (Import Policy): 1. Aircraft and Helicopters (including used/second hand aircraft and helicopters) may be imported by the following without the need to obtain ...

The Dollar Business Bureau In a speech to the International Trade Centre (ITC) Joint Advisory Group on June 26, 2015, Director-General of World Trade Organisation Roberto Azevêdo, said that the WTO shares with the ITC — and the UN Conference on Trade and Development — “the responsibility to ensure that trade continues to play its full role in the development agenda, and in continuing to improve the lives of people around the world, in a very concrete and practical manner”. He went on to add, since its creation, the ITC has been a very valued partner of the multilateral trading system and lauded its work to improve the institutional environment for prospective exporters in developing countries. SMEs — which are central to ...

Sai Nikesh | The Dollar Business Ten days after the launch of its industrial policy for 2015, the Government of Telangana (GoT) accorded project proposals of investors from 17 companies who expressed their willingness to set up their units in the State with a total investment of Rs 1500 crore. K Chandrasekhar Rao, Chief Minister (CM), GoT, handed over package of permit papers regarding the proposals, to the investors on Tuesday. Key part is that ‘all the project proposals put forth by the companies, whose applications for setting up industries have been finalized, were approved within ten days of applying against a time-limit of two weeks provided under the policy’. Speaking to The Dollar Business, Jayesh Ranjan, Director, Telangana State Industrial ...