General

New Delhi: Port Wings News Network: Union Finance Minister, Smt Nirmala Sitharaman, has said that the global economic risks and imbalances reinforce the need to strengthen global co-operation at the multilateral level, besides governmental initiatives. She stated this in her intervention during International Monetary and Financial Committee (IMFC) Plenary Session …

New Delhi: Port Wings News Network: The current export of US$ 17.6 billion does not reflect the true potential of trade between India and Japan, Mr S K Saraf, President, FIEO, has said. Addressing the session on Trade & Business Opportunities between India and Japan, Mr Saraf said that the …

Chennai: Port Wings News Network: A high level 37 member FIEO business delegation led by Mr. Israr Ahmed, Regional Chairman, FIEO Southern Region will be visiting Nairobi and Addis Ababa from 17 to 22 November, 2019 to explore business opportunities in Agriculture, Machineries and Food Processing sector. The program is …

New Delhi: Port Wings News Network: Responding to the sliding merchandise exports growth of -6.57 percent with USD 26.03 billion during September 2019, FIEO President, Mr Sharad Kumar Saraf said that declining trend in exports does not augur well for the overall growth of the economy. Escalating trade tensions that …

Chennai: Port Wings News Network: Prime Minister Narendra Modi and President of China Mr Xi Jinping held their Second Informal Summit in Chennai, Tamil Nadu, on 11-12 October 2019. The two Leaders had an in-depth exchange of views in a friendly atmosphere on overarching, long-term and strategic issues of global …

Chennai: Port Wings News Network: Welcoming the declaration made at the conclusion of Chennai summit, Mr Sharad Kumar Saraf, President, FIEO said that the close interaction between the countries at the highest level augurs very well for cementing the strategic ties between the Asiatic giants besides resolving trade issues. President, …

Chennai: Port Wings News Network: The 2019 edition of the WTO’s World Trade Report highlights that services have become the most dynamic component of international trade and that its role will continue to expand in the coming decades. It stresses the need to enhance cooperation in the international community to …

Chennai: Port Wings News Network: As India and China seek to cement their economic engagement with a clear support at the level of Prime Minister Shri Narendra Modi and Chinese President Xi Jinping, India’s engineering exports to China have gone up by an annualised 58 per cent in August 2019, bucking …

New Delhi: Port Wings News Network: Union Minister of Commerce & Industry and Railways, Piyush Goyal will attend the 9th Regional Comprehensive Economic Partnership (RCEP) Intersessional Ministerial meeting to be held on 11-12 October 2019 at Bangkok in Thailand. This will be the last Ministerial before the 3rdLeaders Summit to …

New Delhi: Port Wings News Network: Total external debt of low- and middle-income countries climbed 5.3 percent to $7.8 trillion last year, while net debt flows (gross disbursements minus principal payments) from external creditors tumbled 28 percent to $529 billion, the World Bank’s International Debt Statistics 2020 shows. Although on …

Chennai: Port Wings News Network: Tirupur Exporters Association (TEA), an umbrella body of knitwear and textiles-related companies in Tamil Nadu, on 4 October 2019 urged the Union Finance Minister Smt Nirmala Sitharaman to clear pending claims which is affecting the liquidity in the sector. To press upon the issue, Shri. …

New Delhi: Port Wings News Network: The Reserve Bank of India cuts benchmark interest rates for the fifth time to support other fiscal measures announced by the Government to boost growth. The RBI reduced its key lending rate (the repo rate) by 25 basis points to 5.15%, which takes cumulative …

Chennai: Port Wings News Network: Escalating trade tensions and a slowing global economy have led WTO economists to sharply downgrade their forecasts for trade growth in 2019 and 2020. World merchandise trade volumes are now expected to rise by only 1.2% in 2019, substantially slower than the 2.6% growth forecast …

Chennai: Port Wings News Network: Leather Sector is an Export-driven sector and has the potential to create two million jobs in the next five years, Dr. Mahendra Nath Pandey, Minister for Skill Development and Entrepreneurship (MSDE), Govt. of India, has said. Speaking at a ceremony on 22 September 2019 in …

New Delhi: Port Wings News Network: Hailing the reduction in Corporate Tax Rate to 22% for domestic companies and 15% for new companies, Mr Sharad Kumar Saraf, President, FIEO said that such reduction would attract much needed investment both through FDI route and domestic investment. The timely move would also …