Promoting entrepreneurship

Senior officials of India and the US held detailed deliberations on ways to resolve trade-related issues and boost economic ties."India - US Commercial Dialogue Intersessional meeting held. Indian delegation led by Commerce Secretary Anup Wadhawan and US side by Gilbert Kaplan, Under Secretary, USDOC," the Department of Commerce said in a tweet.The meeting assumes significance as India has announced hike in customs duties on as many as 29 products, including pulses, iron and steel products, imported from the US as a retaliatory action against the tariff hikes by Washington.Close The meeting follows a visit by Indian officials to the US last week. It was the first meeting of the two sides after India deferred its retaliatory tariffs by 45 days to September 18. related news US-China trade deal cuts tariffs for Beijing promise of big farm purchases Snowfall in major tourist places of Himachal Three low-intensity tremors hit Maharashtra's Palghar US Trade Representative (USTR) … [Read more...] about India, US hold discussions on ways to promote trade, investments

Indian drug makers are staring at diminishing margins as raw material imports from China has increased while drug prices have stagnated. The cost of raw materials sourced from China has risen after Chinese government started cracking down on facilities that violate the country’s pollution control norms.Many production units have been mothballed till the required clearances are clinched. This has resulted in a drop in production, which has consequently led to price inflation. India is one of the largest markets for pharmaceuticals, but production of drugs is usually undertaken with imported raw materials and intermediaries.The pricing pressure on imports is hurting domestic manufacturers. Costly imports from China has led to an about 3 percent decline in Q1 FY19 margin for Laurus Labs, reports Business Line. Lack of an indigenous ecosystem for the extraction and processing of minerals, among other raw materials used in pharmaceuticals, could leave the sector vulnerable to … [Read more...] about Rising cost of Chinese raw materials eat into margins of Indian pharma companies

Contrary to popular belief that rupee depreciation helps exporters, currency volatility not always brings benefits for the fraternity, EEPC India said."Our view has been that it is a stable currency that helps exporters, providing them with predictability of dealing with the buyers. Any fluctuation and volatility on either side does not help," EEPC India chairman Ravi Sehgal said in a release.Engineering Export Promotion Council of India (EEPC) said the country's engineering export growth shrunk to single digit at 9.4 percent in July, from sharp increases in the previous few months even as the rupee was depreciating against the US dollar during the month.Close It was a demonstration that a stronger dollar is not the only growth driver and does not always lead to export momentum, EEPC India said in an internal study recently. related news PM Narendra Modi arrives in Kanpur to chair first meeting of National Ganga Council US-China trade deal cuts tariffs for Beijing promise of … [Read more...] about Rupee depreciation not always leads to export growth : EEPC

Trade ministers of Regional Comprehensive Economic Partnership (RCEP) member countries, including India and China, will hold a crucial meeting in Singapore on August 30-31, an official said.The meeting is important as the 16-member bloc now needs specific political guidance to move the negotiations further, the official added.RCEP mega trade pact aims to cover goods, services, investments, economic and technical cooperation, competition and intellectual property rights.Close RCEP bloc comprises 10 Asean members (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) and their six FTA partners - India, China, Japan, South Korea, Australia and New Zealand. related news US-China trade deal cuts tariffs for Beijing promise of big farm purchases US agency probes 12th Tesla crash tied to possible Autopilot use Uber submits appeal to regain London taxi licence The meeting also assumes significance as the member countries are not … [Read more...] about RCEP trade ministers to meet on Aug 30-31 in Singapore

West Bengal Chief Minister Mamata Banerjee on Saturday said the state has got the first prize in 100-day work programme for promoting livelihoods.She said Bankura and Cooch Behar stood first and second respectively among districts in India in implementation of the rural job scheme."I am very happy to share with all of you that West Bengal has got National Award - first prize for 100 days work programme for livelihoods promotion and convergence, as per announcement of Ministry of Rural Development, Government of India", she said in a Facebook post.Close She also said, "Bankura and Cooch Behar districts got best performance awards, first and second, on all India basis. Baburmahal GP (gram panchayat) of Kulpi, South 24 Paraganas also got the best performance award." related news Mamata warns of strict action amid vandalism across Bengal over citizenship law Himachal Pradesh fiscal deficit at Rs 3,870cr in FY18: CAG There is chasm between ideals and implementation of JJ Act: … [Read more...] about Bengal tops in 100-day work programme: Mamata Banerjee