Posts by Banikinkar Pattanayak

  • textile re 300

    Narendra Modi and labour refocus: Notification on fixed-term employment in garments in 10 days, says textile secretary

    On June 22, the Narendra Modi government announced some crucial labour reforms for the garment sector, including the introduction of fixed-term employment, and offered a R6,000-crore special package, aimed at creating one crore additional jobs over the next three years.


  • The decision seems to be triggered by the fact that the US hasn’t yet withdrawn the plea at the WTO, seeking approval to initiate retaliatory measures against India for alleged non-compliance of a WTO ruling by the latter. (Reuters)

    India to approach WTO for poultry ruling compliance in case filed by US

    India is preparing to approach a panel of the World Trade Organization (WTO), seeking its endorsement that the country has complied with a ruling of the multilateral body on a case filed by the US challenging an Indian ban on…


  • After losing a case to the US at the World Trade Organization for favouring local manufacturers in its solar power programme, India is finalising a scheme to subsidise both domestic and foreign companies that will manufacture in the country, without running contrary to the WTO rules. (Reuters)

    After WTO shock, Centre set to subsidise home, foreign solar power projects

    After losing a case to the US at the World Trade Organization for favouring local manufacturers in its solar power programme, India is finalising a scheme to subsidise both domestic and foreign companies that will manufacture in the country.


  • RCEP concessions: Government undertaking ‘sensitivity analysis’ of import duties

    The ministries of commerce and finance are undertaking a “sensitivity analysis” of import duties on products that are crucial to revenue collection of the government, a senior government official told FE.


  • BASMATI-PTI-S

    No headway in non-basmati export deal with Indonesia

    Negotiations for exporting one million tonne of non-basmati rice to Indonesia from official reserves seem to be stuck, with Jakarta yet to respond to New Delhi’s call for sealing the deal at the earliest, sources told FE.


  • Rail Budget, Rail Budget scrapped, Rail Budget merged with Union Budget, Rail Budget 2017 scrapped

    Trade competitiveness: Commerce Ministry wants Indian Railways to cut freight rates for export items

    The commerce ministry is in talks with the railways and port authorities on how to reduce logistics costs to boost exports, which dropped in 20 of the 21 months through August.


  • Some developed nations, especially the US, have been vigorously pushing for the inclusion of new topics such as e-commerce and government procurement for negotiations at the WTO. (Reuters)

    India studying e-commerce issues at WTO

    Some developed nations, especially the US, have been vigorously pushing for the inclusion of new topics at the WTO


  • Some analysts, however, have advised caution over any such move to devalue the currency. (Source: Reuters)

    Will a weak rupee solve exporters’ woes? Find out here

    Sanjay Budhia, co-chair at the CII national committee on international trade and exports, even pitched for an 8-9% devaluation of the currency to make exporters competitive.


  • Cumulative export of goods and services by EOU and STP units adds up to more than $60 billion and contributes around 15% to India’s export of goods and services. (Reuters)

    India may sweeten offers for China, Japan, others at RCEP but opposes ‘early harvest’

    Scrapping trade lines hinges on reciprocity


  • Though the revenue department will have the final say on the tax rate, the commerce ministry will likely favour a presumptive tax on turnover of 2-3%. Such a move, the ministry feels, is vital to provide a leg-up to the country’s first SNZ for diamond in Mumbai. (Reuters)

    To make India diamond global trading hub, ComMin eyes booster shot for first-ever SNZ

    The commerce ministry is pitching for a reasonable and presumptive tax structure for the diamond industry — roughly similar to the one in Belgium — in the special notified zone (SNZ) to help India emerge as a global trading hub in the precious stones, reports Banikinkar Pattanayak in New Delhi.


  • Tobacco

    Tobacco FDI: Commerce min says curbs OK when not in procurement

    Amid differences among various wings of the government on a move to further curb foreign direct investment (FDI) in the tobacco sector, the commerce ministry has said it supports the proposal…


  • US Secretary of State John Kerry and Secretary of Commerce Penny Pritzker will visit India for the meeting, official sources told FE. (Reuters)

    Hike in visa fees to figure in US-India talks

    India and the US will on August 30 hold the crucial strategic and commercial dialogue (SCD), in which New Delhi will voice its concerns over a sharp hike in H-1B visa fees, an elusive totalisation agreement and Washington’s growing “protectionism” in services, reports Banikinkar Pattanayak in New Delhi.


  • WB-Re-S

    Ease of doing biz: World Bank to wrap up ranking of Indian states by Aug-end

    The World Bank is likely to wrap up its ranking of Indian states by the end of August on reforms undertaken by them on the ease of doing business. “States have submitted about 7,000 items of information regarding the reforms they have undertaken on the ease of doing business.


  • GST Bill, GST bill today, gst ecommerce, gst bill today news, gst bill in rajya sabha

    DIPP only formulates FDI policies, but isn’t their enforcing authority: Secretary Ramesh Abhishek

    Amid growing clamour for the department of industrial policy and promotion (DIPP) to act against e-commerce players like Amazon, Flipkart and Paytm for alleged violation of FDI policy by them, DIPP secretary says any complaint of violation of FDI policy may be filed with the RBI/ED


  • Indian rupee vs US dollar

    After 11-year low, industrial investment proposals rise to Rs 1,76,738 cr

    After hitting an 11-year low in 2015, investment proposals for the industrial sector rose a tad in the first half of this calendar year from a year ago, reports Banikinkar Pattanayak in New Delhi.


  • Sugar

    Here’s why Maharashtra sugar mills are leaving a bitter taste

    Top producer Maharashtra has sold less sugar in the current marketing year though September than a year earlier despite a spurt in prices in recent months, in stark contrast with other key states


  • The Union food ministry, in late April, stipulated that a dealer or trader could hold up to 500 tonne of sugar — except in parts of West Bengal — under the stock-holding rule. (Reuters)

    Narendra Modi govt’s bid to tame soaring sugar prices scuttled by states

    Only 3 states have acted on the Centre’s directive on stock limits.


  • Through the user-friendly mobile technology based platform which integrates a toll-free number, farmers can call to report a wildlife conflict incident. (Reuters)

    Pradhan Mantri Krishi Sinchai Yojana ambit to expand, help more farmers

    The commerce ministry, which is the administrative authority of boards regulating plantation crops, has strongly been advocating the coverage of such crops under the PMKSY.


  • Gold, Gold news, Gold latest news, Gold global cues, gold prices, gold prices today

    Foul play? Jewellery exports from SEZ up 101%

    A 101% jump in gold jewellery exports from special economic zones (SEZs) and export processing zones (EPZs) in the first quarter of this fiscal from a year before


  • The next ministerial meet for the 16-nation Regional Comprehensive Economic Partnership (RCEP), scheduled for August 5 in Laos, will have to address stark differences among members on not just services but also investments, commerce ministry sources pointed out.

    RCEP meet: India says ‘no early harvest’, differences widen split

    The next ministerial meet for the 16-nation Regional Comprehensive Economic Partnership (RCEP), scheduled for August 5 in Laos, will have to address stark differences among members on not just services but also investments, commerce ministry sources pointed out.


  • Cotton, cotton production, kharif production, commodities, commodity prices, cotton prices

    In a first, India to set up its own cotton price Index

    In a first, the government is planning to launch a cotton price index of its own, taking into account benchmark rates from four different sources, as it attempts to curb speculations across various markets and trading platforms, and bring about further transparency in the price discovery mechanism.


  • KFC food india

    India and US play chicken at World Trade Organisation

    India is hopeful of an amicable resolution to the trade dispute with the US on the import of American poultry products at the World Trade Organisation (WTO), official sources said.


  • The holding of the first UNPCAP takes place in the backdrop of PM Modi’s commitment to the Peacekeeping Summit in New York last September as well as his commitment to the African leaders during the third India-Africa Forum Summit last October. (Reuters)

    US trade representative to visit India next week

    Sources told FE that the TPF meeting, scheduled for October 19 and 20, will focus on four key areas: services, investments, agriculture and intellectual property rights (IPRs).


  • "The past two WTO rulings on Chinese export restrictions have been crystal clear -- these measures are against international trade rules," Malmstroem said. (Reuters)

    India planning to discuss services trade facilitation pact with rich nations

    India could seek inputs from some of the richest nations on a draft trade facilitation agreement (TFA) on services before submitting it formally with the World Trade Organization…


  • Nirmala sitharaman

    Brexit impact on India: Nirmala Sitharaman explains key features

    Commerce and industry minister Nirmala Sitharaman says Britain wants informal talks on a likely trade pact with India to continue until its exit process with the EU is over.


  • Carpet-Ret

    Why a carpet maker in UP is worried about Brexit

    Handicraft sector worried weak economic sentiment in Britain will hit exports


  • Japan Exports

    India against ‘early harvest’ of RCEP pact; here’s why

    Even as the 16-nation RCEP (Regional Comprehensive Economic Partnership) ministerial in Laos on August 5 will mainly focus on liberalisation in goods trade, India has made it clear that it doesn’t favour an “early harvest”, a person aware of the developments told FE.

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