INDIA IMPORT RESTRICTIONS
Steel solution: Govt-industry discuss safeguard duty, Chinese overcapacity, stuck consignments
The Centre deliberated on imposing a safeguard duty on steel to counter cheap imports and rising steel overcapacity in China. The steel ministry suggested a 25% safeguard duty on certain imports from Asean nations amid Chinese capacity expansion. India's steel exports dipped while imports surged due to demand for specialized steel not produced locally.
Imposition of additional duty on steel imports to hit exports by MSMEs: Exporters
The Federation of Indian Export Organisations emphasizes the risk to value-added steel product exports. Delays in customs clearance are also disrupting production and harming India's global reputation.
Govt's import curbs to impact any industry: HPE's Antonio Neri
Houston-based HPE has been part of the US-India commercial engagements, pushing to get the right balance in regulation. The global edge-to-cloud company works in servers, storage, networking, containerisation software, consulting and support.
Thailand, Indonesia raise concerns at India¡¯s QCOs on leather, textiles, restrictions on copper, tyres
Indonesia and Thailand have raised concerns at the World Trade Organization about India's quality control orders. The orders cover products like medical textiles, footwear and viscose staple fibre. They also questioned measures restricting imports of copper, wooden boards and tyres. Canada, Japan, the UK and the EU had previously raised similar concerns.
Reimports under FTA, port delays ail India¡¯s steel industry: GTRI
Overall, India exported $21.8 billion worth of steel and steel products, while imports totaled $23.7 billion, highlighting challenges in the core steel segment.
Neelam Linens shares list at 67% premium over IPO price on NSE SME platform
Neelam Linens and Garments is set to debut on the NSE SME platform with an expected 54% premium over its issue price. The company, specializing in home furnishings and apparel, plans to use the IPO proceeds for capital expenditure, debt repayment, and general corporate purposes. The Indian textile industry's projected growth and government incentives position Neelam for potential success.
WTO says trade restrictive measures by G20 economies increased during 2023-24
The World Trade Organisation reported an increase in trade restrictions by G20 nations between mid-October 2023 and mid-October 2024. The WTO found 91 new trade-restrictive measures and 141 trade-facilitating measures on goods, primarily imports. The trade coverage of these restrictive measures reached USD 828.9 billion, a significant increase from the previous year.
Centre may ask hardware companies to cut their total import bills by 5%
Although stakeholder discussions are still going on, the 5% cut of the total import quota will be implemented from April 1 of the upcoming fiscal. This cut is based on the data provided by the Directorate General of Commercial Intelligence and Statistics.
India may cut import taxes if desi companies are not hurt, FM Sitharaman says
India's Finance Minister, Nirmala Sitharaman, hinted at the possibility of reducing import taxes, contingent upon the absence of harm to domestic industries. This comes in the wake of US President Donald Trump's criticism of India's high tariff rates. While acknowledging the need to protect Indian businesses, Sitharaman emphasized the government's willingness to adjust tariffs to foster international trade.
Reaching $100 billion in Indo-Russian trade realistic: S Jaishankar
India and Russia are aiming to achieve $100 billion in bilateral trade by 2030, according to Indian External Affairs Minister S Jaishankar. While optimistic about reaching this target, Jaishankar highlighted the need to address the trade imbalance, which currently favors Russia due to India's oil imports. He urged for swift action on non-tariff barriers and regulatory hurdles.
Trump Presidency set to benefit India, Asian countries due to US-China rivalry: Moody's Ratings
Moody's Ratings predicts that India and other Asian nations could benefit from US-China tensions and investment shifts under a potential Donald Trump presidency. Trump's protectionist trade policies, particularly towards China, are expected to redirect trade and investment flows, potentially benefiting India and ASEAN countries. However, these policies could also disrupt global supply chains and hinder global growth.
The tale of a Salman Rushdie book and the restriction it faced in India for 36 years
India lifted a long-standing restriction on Salman Rushdie's controversial novel, "The Satanic Verses," which was originally banned in 1988 due to concerns about communal tensions. The ban's removal, attributed to the inability to locate the original notification, highlights the arbitrary nature of such restrictions and their detrimental effect on India's liberal image.
Xi-Modi breakthrough followed months of pressure by India CEOs
In light of the economic impact and pressures from Indian businesses, Prime Minister Narendra Modi's administration is reconsidering its strict investment restrictions on China. While maintaining certain safeguards, India aims to stabilize relations and boost high-end manufacturing by potentially easing rules on Chinese entry, primarily focusing on non-sensitive sectors.
Unrealistic to expect Chinese investment surge even if restrictions removed: GTRI
Despite recent diplomatic progress between India and China, think tank GTRI deems a surge in Chinese investments unlikely. Trade imbalances persist, with India's heavy reliance on Chinese imports posing a structural issue. Addressing these economic disparities will necessitate long-term policy efforts and diversified manufacturing capabilities.
India gains momentum in US apparel market as crisis in Bangladesh continues
US buyers now prefer sourcing apparel from India, citing its political stability as a key factor. While India's strength lies in cotton garments, challenges like high labor costs and limited MMF production persist. India aims to leverage its strengths and increase its market share in the US, which is its largest apparel export market.
India plans laptop import curbs to boost Apple and others' local production, sources say
India plans to impose import restrictions on laptops, tablets, and PCs post-January to encourage domestic manufacturing by companies like Apple. This move aims to mitigate reliance on imports, particularly from China. The Ministry of Electronics and Information Technology is devising a new import authorization system to enforce these restrictions.
Why India's easing of export curbs is important to global rice trade
India has lifted most of its rice export restrictions imposed in 2023, expecting higher crop yields due to above-average monsoon rains. India, which contributed over 40% of global rice exports in 2022, saw a 20% drop in exports due to the restrictions, impacting prices and demand globally.
Policy flip-flops on IT hardware import increase cost of doing business: GTRI
The government's inconsistent policies on laptop import restrictions have led to increased business uncertainty and costs, according to think tank GTRI. To promote local manufacturing and reduce reliance on China, a stable and long-term policy is needed. Import restrictions could encourage global tech giants to shift production to India.
Malaysia requests India to ease export curbs on some farm goods
Malaysia has urged India to ease export restrictions on key farm goods such as rice and sugar. Malaysia's Minister for Plantation and Commodities, Johari Bin Abdul Ghani, highlighted the negative impact of India's abrupt export curbs on Malaysia during an industry conference in New Delhi.
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