Search Result for : Suresh Prabhu

A new agricultural exports policy is required: Suresh Prabhu

The Dollar Business Bureau Commerce and Industry Minister Suresh Prabhu said on Monday that India needs a new agricultural exports policy focussing on enhancing the exports of agricultural products from the country and to increase the incomes of the farmers. “A new agricultural exports policy is required that lays focus on increasing exports of value-added agricultural products so that farmers can access international markets and increase their income,” Prabhu said while speaking at the 3rd meeting of Council of Trade Development and Promotion in New Delhi. Prabhu further emphasised on the participation of states to explore ways for tapping into global trade, which is pegged at around $5 trillion, by promoting exports of services, value addition to agricultural products, organic farming, utilisation of the ...

FTP Review: Industry welcomes MEIS & SEIS incentives, hike in duty credit scrips validity

The Dollar Business Bureau The industry has welcomed the initiatives taken in the mid-term review of Foreign Trade Policy (FTP) – 2015-20, specifically the 2% increase in rates under the Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS), as well as the raising of validity period of duty credit scrips from 18 to 24 months. Welcoming the FTP’s mid-term review, Ganesh Kumar Gupta, President, Federation of Indian Export Organisations (FIEO) said that the 2% increase in the MEIS rates for labour intensive sectors such as leather, carpets, handicrafts, tools, marine, medical & scientific products and services such as accountancy, architecture, legal, education, hotel and restaurant will provide much needed respite to these sectors which are facing huge ...

India can be the anchor for US business and investment: Juster

Anishaa Kumar On the eve of the inauguration of the eighth edition of the Global Entrepreneurship Summit (GES), set to be inaugurated by the Indian Prime Minister Narendra Modi and First Daughter and Special Advisor to President of the United States, Ivanka Trump, newly appointed US Ambassador to India, Kenneth L Juster highlighted the importance of encouraging entrepreneurs and the US and India ties. The GES will be Juster’s first major event since his confirmation as US Ambassador to India. Speaking to the media a day before the three-day (November 28-30) event to be held in Hyderabad, Juster said, “This is the most dynamic region of the world and the India and US are major democracies playing an important role in the ...

Govt is drafting an agriculture export policy: Suresh Prabhu

The Dollar Business Bureau Commerce and Industry Minister Suresh Prabhu said on Sunday that the Central government is drafting an agriculture export policy that would also help in doubling the farmers’ income. “The Centre is of the view that the woes of the farmers in the country can only be eased through exports,” Prabhu said while speaking at an industry interaction organised by the Confederation of Indian Industry (CII) in Pune. The Minister further said that the Government is also taking several measures, such as researching new products and special studies, in order to enhance export potential of the country. “India is at a great advantage, because we have 35 agro-climatic zones. We produce everything that is possible to be produced. The Prime Minister's ...

Prabhu visits Cuba to explore trade, investment opportunities

The Dollar Business Bureau In order to explore opportunities for bilateral trade and investment in the Latin American (Latam) and Caribbean regions, Commerce and Industry Minister Suresh Prabhu visited Cuba from October 28 to 31. “The Minister for Commerce and Industry Suresh Prabhu visited Cuba from October 28 to 31 to explore opportunities to tap the huge untapped potential, for not only bilateral trade but also investment in the Latin American and Caribbean regions,” the Commerce Ministry said in a statement on Wednesday. “It has been the strategy to pursue new markets to expand India's trade footprint and targets to double trade with the Latam and Caricom region in the next 4 to 5 years,” it said. India’s bilateral trade with the Caribbean region ...

Govts full support to start-ups, created a Rs.10k cr corpus: Prabhu

The Dollar Business Bureau  Suresh Prabhu, who assumed the charge as Commerce and Industries Minister this week, assured the Government’s support to start-ups and help in eliminating hurdles for promoting the sector in India. In a video message via Twitter to the promising entrepreneurs on Wednesday, the minister assured that the Government has set up a Rs.10,000 crore corpus and has taken a decision to provide guarantees to the amount of Rs.2,000 crore. The Government is in the course of creating a credit guarantee fund of Rs.2,000 crore with the purpose of giving funds to start-ups. “We are committed to promoting start-ups in India. We are committed to removing obstacles, and help you move forward. You will get tailwinds. Earlier you were getting headwinds,” ...

After AEPC, it is EEPC asking Govt to refund 90% of GST taxed from exporters

The Dollar Business Bureau EEPC India, the Engineering exporters' apex body, has urged the government to intervene and push for release of at least 90% of GST refunds to exporters immediately after the shipping bills are filed with the authorities. In a statement issued to the government, EEPC India Chairman T S Bhasin said, "We strongly recommend a 'war room' for exports as well as suggested by the Commerce and Industry Minister Suresh Prabhu for foreign investors.” Expressing confidence in the newly appointed minister, he said Prabhu should intervene with the finance ministry and the GST Council and get a relief in terms of release of at least 90% goods and services tax (GST) refund on submission of the shipping bills, if a ...

Prabhu deliberated on promoting investments, calls for a paradigm shift

The Dollar Business Bureau The new Commerce and Industry Minister Suresh Prabhu on Tuesday deliberated upon ways to augment investments and called for adopting a proactive approach for reaching out to international companies. Prabhu, who took charge of the Commerce Ministry on Monday, held a meeting with the team of Invest India, which is the national Investment Promotion and Facilitation Agency for India.  “Aligning with the idea of rolling out the red carpet for investors he called for a paradigm shift in the approach for enhancing investments,” the statement released by the Commerce Ministry said. The statement also said that Prabhu called for a proactive approach to reach out to global companies. The Minister stressed on the need to ‘Design in India’, not just on ‘Make in India’. He also spoke about preparing ...

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