Indian Customs rescinds soda ash anti-dumping duty on 9 countries
The Dollar Business Bureau The CBEC in its recent notification no’s 55 and 56 issued on Dec 21 has rescinded the anti-dumping duty imposed on imports of soda ash from 9 countries. This step has been taken though the final findings of the investigation were challenged in the High Court of Gujarat and the court is yet to give its final verdict. Soda ash is generally used in commercial, domestic and laboratory uses or more simply used in the production of various types of glass (flat glass, container special packaging glass, fibreglass for insulation and other glass products) alkali products, detergents and soaps. India imports soda ash from China (P.R), EU, Kenya, Pakistan, Iran, Ukraine, U.S.A, Turkey and Russia. In its notification the CBEC ...
Rising production cost hampering Indias tea exports
The Dollar Business Bureau Increased supplies from countries like Sri Lanka, Kenya and Indonesia and rising input costs for Indian tea industry seem to be taking toll on India’s tea exports which have been witnessing a downfall for the past few months. In September this year, India’s tea exports reduced to $68.79 million, registering a fall of 11.72% as against $77.92 million recorded in the same month last year, the latest government data showed. In August 2015, the shipment of Indian tea saw a marginal growth of 3.57% year-on-year. According to Indian Tea Association (ITA), while the global tea production during Jan-August, 2015 was registered 1,288 Million Kg (MKg), India stood as a leading producer with 705 MKg yield. Though the country’s ...
Rains affect Indias tea exports
The Dollar Business Bureau Delayed rain fall and increased competition in the international market led to a steep fall in India’s tea exports last year. The country earned Rs 3,485 crore by exporting 180 million kg of tea during last year (April-Feb). The volume was less than 4,509 registered a year ago when India exported 225 million kgs of tea. “Volume of export of Indian tea during 2014-15 has been lower than the level registered during 2013-14 primarily on account of fall in production of Assam orthodox tea caused by delayed rains,” said Nirmala Sitharaman, Minister of State, Commerce and Industry. Other factors that contributed to the decline are increased supplies from Kenya leading to a reduced average price ...
India Expo at Kenya eyeing entire East Africa region trade
The Dollar Business Bureau “As Kenya is the gateway for entire East African region, Federation of Indian Export Organisations (FIEO) is giving more focus for bilateral trade and investment with it,” said Walter D’Souza, Regional Chairman, FIEO. Leading a high power trade delegation from India to Kenya for showcasing Indian products and services to the Kenyan market from March 27-30, 2015, D'Souza has urged Kenyan businessmen to experience excellent quality products and services made in India which, are also very price competitive. “High on the delegation’s agenda is finding ways to improve trade and investment in high tech areas of infrastructure, pharma, auto components, electronics, health care, Agro and Food,” said D’Souza and added, “Make in India policy of the new ...
Export of Services key for job creation and entrepreneurship
The Dollar Business Bureau “Export of services has a direct bearing in creating more jobs locally and driving entrepreneurial spirit as well” said Nirmala Sitharaman, Minister of State (Independent Charge), Commerce & Industry. Ms Sitharaman was speaking at a Consultative Committee meeting of Parliament on Friday. She said that services play an important role in the development of many economies of the world. It is not only service sectors that are large employers in many countries; many services are critical inputs in local production and trade. The Minister also noted that apart from being a foreign exchange earner, services sector has a critical role in the inclusive growth paradigm of the country – in terms of providing significant employment opportunities. ...
India, Kenya gear up for bilateral investments
The Dollar Business Bureau India and Kenya on Wednesday participated in the seventh Joint Committee Meeting in New Delhi, a meeting that is being held between the two nations after a gap of over four years. In the meeting, both the sides reviewed their bilateral trade and agreed to enhance cooperation in the fields of bilateral investment, infrastructure, among other key sectors. Speaking at the meet, Nirmala Sitharaman, Union Commerce Minister, Government of India, called for enhancement of the share of Kenyan exports in India’s bilateral trade. She further stressed on the need for India’s increased development partnership engagement with Kenya and for cooperation in the fields of agriculture, horticulture and mining. Referring to Kenyan President’s priority towards the infrastructure ...
