Washington: A bipartisan group of five influential senators has urged the Trump administration to seek removal of high tariffs on import of pecans by India, asserting that it is impacting a large number of American farmers. The growing middle class in India has demonstrated its desire for consumer-oriented agricultural products, like tree nuts, and the
India
By Amit Kapoor & Chirag Yadav The International Monetary Fund released the biannual World Economic Outlook this month with a sombre warning that even though the global economy is reviving, the ascent will be “long, uneven, and uncertain.” However, the report made headlines for quite a different reason in India. The database released with the
The Indian economy will suffer its deepest contraction on record this fiscal year and recent government stimulus does not go far enough to significantly boost activity depressed by the coronavirus pandemic, according to economists polled by Reuters. With over 7.6 million coronavirus infections, India is the second worst hit country in the world after the
On ‘more appropriate’ economic metric, Bangladesh has not surpassed India and is unlikely to be in future, former chief economic adviser Arvind Subramanian said on Saturday, asserting that GDP per capita is an estimate for one indicator of the average standard of welfare in a country. Congress leader Rahul Gandhi had taken a dig at
By Andy Mukherjee India’s Covid-19 economic gloom turned into despair this week, on news that its per capita gross domestic product may be lower for 2020 than in neighboring Bangladesh. “Any emerging economy doing well is good news,” Kaushik Basu, a former World Bank chief economist, tweeted after the International Monetary Fund updated its World
The International Monetary Fund (IMF)forecast a much deeper contraction for India in FY21 than estimated in its June review even as it raised the outlook for the global economy and most of the developed world. Source link
India has extended anti-dumping duty on import of a certain variety of fibre board, originating in or exported from China, Malaysia, Sri Lanka and Thailand, till January 20, 2021. The duty varies between $5 and $46 per cubic meter and was imposed back in 2015 on fibre board used in furniture and other related industries.
MUMBAI: India’s September retail spending rose 12% from August with revival strongest in rural areas, according to data collated by CMS Info Systems, which handles cash movement and ATMs across the country. The biggest increase was seen in spending related to ecommerce, fast-moving consumer goods (FMCG), consumer durables, insurance, utility payments, healthcare, logistics and transportation,
Basmati rice exporters from India are renegotiating with importers from Australia, Canada, the US and western Europe the new contracts to be signed by mid-October after a overseas cargo rates climbed about 50% over the past one month. Freight rates have gone up from $1200 to $1800 per tonne. However, exporters say that even if
KOLKATA: Non-basmati rice exports from India increased 68% year-on-year in the April-July period, helped by a drop in rice production in Thailand. India exported 2.99 million tonnes of non-basmati rice in the first four months of this financial year, up from 1.78 million tonnes a year ago, earning foreign exchange equivalent to Rs 8,903 crore
New Delhi: India may have crossed the Covid-19 peak and the declining positivity rate will help fuel an economic recovery, the finance ministry said, while adding that it was ‘not averse to taking any further measures to ameliorate suffering of people’. The economy was ‘regaining normalcy’, with a palpable resurgence in demand in many sectors,
Kolkata: Commerce and Industry Minister Piyush Goyal said on Saturday that India has the capability to become a global player in many sectors and needs to scale up its manufacturing activities. Speaking at a webinar organised by EXIM Bank, he said sectors which have potentials to become globally competitive are required to be identified. “There
New Delhi: Amid the coronavirus pandemic, India and South Africa on Friday proposed a waiver from certain provisions of the global intellectual property rights (IPR) agreement to prevent, contain and treat Covid-19 through unimpeded and timely access to affordable medical products including diagnostic kits, vaccines, medicines, personal protective equipment and ventilators. Stating that developing countries
NEW DELHI: India has initiated an anti-dumping probe against two products imported from China, following complaints by domestic companies. The commerce ministry’s investigation arm Directorate General of Trade Remedies (DGTR) is probing alleged dumping of ‘Hydrofluorocarbon (HFC) Blends’, used in commercial and residential air conditioning; and ‘Decor paper‘ from China. SRF Ltd has filed an
By: Vivek Wadhwa For a moment in time, there was complete harmony in the social media world. US President Donald Trump demanded that TikTok be sold to a US company, and China’s propaganda outlet Global Times tweeted: ‘The US restructuring of TikTok’s stake and actual control should be used as a model and promoted globally.’
By Andy Mukherjee Strong states grow stronger by putting limits on their own power; weak states become weaker by descending into arbitrariness. India has to choose which it wants to be. That’s the message being given to New Delhi by an international arbitration tribunal in The Hague. The panel threw out the Indian government’s $3
By Reuben Abraham If India only reforms when under pressure, then now should be a moment for big changes: Gross domestic product contracted nearly 24% in the second quarter, more than any other large economy; tens of millions have lost jobs in the formal and informal sectors; and the country is adding over 85,000 confirmed
New Delhi: India Ratings and Research (Ind-Ra) on Friday said it has maintained a negative outlook on transport and energy infrastructure for second half of the current financial year. It said the negative outlook stems from likely low demand in the sectors. “India Ratings and Research (Ind-Ra) has maintained a negative outlook on energy and
NEW DELHI: India has pitched for elevating India-Arab economic partnership commensurate with the strategic partnership between the two sides and exploring opportunities to utilise Arab World’s FTA with US and EU for Indian businesses. “India-Arab relations are founded on strong traditional ties and deepening political understanding. Our economic relations have to be stepped up to
New Delhi: India is working on an arrangement to supply onions to Bangladesh and a few other neighbouring countries in an uninterrupted fashion to uphold the spirit of the ‘neighbourhood first’ policy. The government has yet to firm up a decision but initial talks have taken place on such an arrangement in the backdrop of
NEW DELHI: The COVID– 19 pandemic has provided a unique opportunity to both India and Japan to further strengthen economic ties by enhancing cooperation in areas like software development, modern technology, infrastructure and manufacturing, according to a report. The report, prepared by Shardul Amarchand Mangaldas and FICCI, also said that Japan has always treated India
By Andy Mukherjee Narendra Modi says, “Make in India.” Toyota Motor Corp. says, stop treating cars as though they were drugs or alcohol. The Japanese carmaker has a point about the tax structure being unviable for the industry, and Shekar Viswanathan, vice chairman of the India unit, made it forcefully in an interview to Anurag
NEW DELHI: India will seek concessions for its rice exports to South Korea as Seoul levies a whopping 513% tariff on imported rice and buys rice from only five countries under its tariff rate quota regime. New Delhi will also push for Seoul to allow imports of grapes and pomegranates and eggplant, and do away
New Delhi: India has fallen 26 spots to the 105th position on the Global Economic Freedom Index 2020, according to a report released on Thursday. The country was at the 79th spot in last year’s rankings. The Economic Freedom of the World: 2020 Annual Report by Canada’s Fraser Institute has been released in India in
New Delhi: India has begun an anti-dumping probe in the imports of certain flat rolled products of aluminum originating in or exported from China based on a complaint by Hindalco Industries alleging injury to the domestic industry due to the dumped goods. The Directorate General of Trade Remedies (DGTR) will probe the dumping from FY17
Tokyo: Japan‘s Ministry of Economy, Trade and Industry (METI) has added India and Bangladesh to the list of relocation destinations for companies which shift their manufacturing sites from China to ASEAN countries. By expanding the scope of the subsidy programme, Japan aims to reduce its dependence on a particular region and to build a system
New Delhi: Trade ministers of India and 10-member ASEAN countries have instructed their officials to start discussions for determining the scope of review of free trade agreement (FTA) at the earliest with a view to make the pact more user-friendly, simple, and trade facilitative for businesses. The issue was discussed during the 17th ASEAN-India Economic
NEW YORK: The Indian government’s plan to connect over six lakh villages with optical fibre network is the kind of “generational projects” required to build the country better in a post-COVID world as it focuses on the inclusion and leapfrogging access to information and services, a top UN official has said. On India’s 74th Independence
India was likely to see its lowest point of growth this year during the April-June quarter at -15.2%, according to a Nomura report on Wednesday. The Japanese brokerage firm said no quarter would see positive growth in the ongoing fiscal, resulting in -6.1% gross domestic product (GDP) growth rate for FY21. Further, the Nomura India
Moody’s Investors Service on Tuesday said India, China and Indonesia will be the only G-20 emerging economies to post a strong enough pick up of real GDP in the second half of 2020, and retained its projection of 3.1 per cent growth contraction for India in 2020. “The economic outlook of emerging market countries is
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