WORLD
Exclusive | As shipping schedules get affected, exporters choose to wait and watch the Suez canal drama
The Suez Canal is the primary route for ships moving between India and Europe and the traffic hold-up has begun to affect the tight schedules of commercial shipping lines operating in India. But exporters remain hopeful that a backlog of up to 7-10 days can be overcome with some planning and speedy clearance by the Customs authorities.
BUSINESS
EXCLUSIVE | Long list of challenges plague Indian traders’ desperate bid to find routes into China
As consumption demand rises after a tough financial year, importers are desperate to visit China to stock up on new inventory. Their plans of transiting through a third nation to reach the Big Dragon and India's unique travel restrictions continue to hit a wall. Moneycontrol discovers the long list of hurdles impeding travel - tough vaccination rules in most countries, low availability or lack of approval for Chinese vaccines and the high cost of insurance
ECONOMY
India's merchandise and services exports may dip by 10% in FY21 : Commerce Minister
In the previous financial year of 2019-20, services exports had risen by 4 percent while merchandise exports had shrunk by 4.7 percent.
TRADE-2
'Teething troubles' prevent govt from announcing tax refund rates for RoDTEP scheme, says commerce secretary
Exporters complain that lack of clarity on tax refund rates under RoDTEP, 18 months after it was announced, continues to affect their business.
INDIA
Exclusive | Repairing Indo-Bangla ties key focus of PM's first foreign visit since the pandemic
Modi's visit to Bangladesh this week is expected to seal diplomatic cracks that appeared in the relationship over the past 2-years due to the debate over the CAA and the NRC exercise. It may also shore up support for the BJP in West Bengal assembly elections.
ECONOMY
EXCLUSIVE| With 'Vaccine Maitri', India pulls off diplomatic coup against China in Africa
Officials say the 1.7 crore doses of vaccines from India have done in just three months, what billions of dollars in development finance deployed by China across the African continent over the past decade, haven't been able to. Gain Africa's trust.
INDIA
Lots of smoke: Seizure of illegal cigarettes was 9 times higher in FY21
With higher taxes burning a deep hole in smokers’ pockets, the volume and share of legal cigarettes in India is falling amid a rise in the smuggling of illegal gaspers and bidis.
ECONOMY
Need stricter regulations for FDI in e-commerce, domestic retailers tell government
The government has lined up more meetings on the issue of FDI in e-commerce and whether e-marketplaces are bending the rules. On March 19, the DPIIT will meet with industry bodies FICCI, CII and Assocham, while on March 25, it will sit down with e-marketplaces like Flipkart and Amazon India.
ECONOMY
EXCLUSIVE | FIEO launches online portal for exporters to request elusive shipping containers
The first ever portal of its kind allows exporters to make public requests for shipping containers which can be taken up by shipping lines and freight forwarders. As a result, it is expected to paint a clearer picture of where containers are needed the most and which exports are caught up.
ECONOMY
EXCLUSIVE | Sectoral action plan for exports currently in the works
It will focus on short-term targets and specific strategies to boost the outbound shipment of certain products in the near term. Right now, India’s share of exports continues to remain high in goods which are less traded and low in goods that are traded more in the world.
ECONOMY
India should leverage labour-intensive exports to capture space being vacated by China: Arvind Subramanian
At a time when all countries are scrambling to corner that open market, India needs to act quickly, Arvind Subramanian said.
ECONOMY
Exports rise for third straight month in February, trade deficit spikes 24%
Imports continued to rise at a faster pace in February. As a result, the trade deficit also spiked by 24 percent to $12.6 billion.
ECONOMY
EXCLUSIVE | Government keen on national e-commerce regulator but ministries differ on key details
While there exists a broad consensus on the need for an e-commerce regulator, sources say that differences remain inside the government over whether a new entity with sweeping powers is needed, or existing agencies can do the job.
BUSINESS
E-tailers like Amazon, Flipkart need to treat all sellers equally, says draft e-commerce policy
The government is trying to address the burning issues of preferred vendors and online discounting which have marred the growth of offline retailers in India.
ECONOMY
Industrial production returns to contraction in January, retail inflation at 3-month high in February
The dual economic challenge continues in 2021 as a fragile manufacturing sector drags down industrial production in January while the ripple effect of higher fuel prices continues to raise inflation in February.
BUSINESS
Interview | British firms feel 'Aatmanirbhar Bharat' provides more investment opportunities: UKIBC Chief
While they may not completely move supply chains from China, 77% of British companies surveyed by UKIBC feel they can invest more in India to augment their Chinese facilities
ECONOMY
Exclusive | FSSAI may soon begin to set standards for food exports creating single regulator in sector
Industry insiders say food manufacturers and vendors had pushed for the proposed move, arguing for more ease of doing business. Currently, while FSSAI under the Health Ministry sets standards for food imports, exports are the domain of APEDA under the Commerce Department.
BUSINESS
Over 10,000 companies closed down in FY21, MoS finance Anurag Thakur tells Parliament
The Ministry of Corporate's official statistics show that 68,463 companies closed down in FY20.
ECONOMY
Explained | How did India get record FDI in FY21 despite the pandemic?
Foreign Direct Investment into India is poised to rise to a record in FY21 as the government actively wooed companies that manufactured in China and announced favourable policies such as the Performance Linked Incentives, while states continued to reach out to investors.
BUSINESS
700 international buyers expected at India's largest F&B trade fair in March
The fourth edition of Indusfood, which is slated to be held in Greater Noida, will be the first major trade fair to be organised physically after the COVID-19 pandemic that erupted last year.
ECONOMY
Exclusive| Govt to launch single-window clearance portal in April
The portal will help investors scout opportunities, get official investment guidance and secure requisite clearances. More than 14 states have been brought on board so far sources say.
WORLD
Biden administration pushes for deeper ties with India, tough stance against China
The Biden administration’s first formal guidance on foreign policy calls for revitalising global partnerships to assert USA’s global leadership, reversing the Trump-era’s unilateral approach while maintaining the previous regime’s tough stance towards China
ECONOMY
Exclusive | One year on, government yet to notify product standards for key imports
Back in January, 2020, an interministerial committee had decided to bring in comprehensive product standards to disincentivise the import of a large category of goods. But the Bureau of Indian Standards has struggled to establish norms for the same.
BUSINESS
Exclusive | France said to be looking to secure Bharat Biotech COVID-19 vaccine
With less than 5 percent of its population inoculated so far, the Emmanuel Macron government is under tremendous pressure to secure more vaccines. Covaxin could likely be a beneficiary.
