General

Chennai: Port Wings News Network: The key to African economic emergence lies in removal of barriers, increased connectivity between nations and infrastructure development,  DP World’s Group Chairman and Chief Executive Officer, Sultan Ahmed Bin Sulayem, told African leaders and top executives in Dakar Senegal. “We believe in the viability of …

New Delhi: Port Wings News Network: The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the recapitalization of EXIM Bank.  The details are as follows: Issuance of Recapitalization Bonds by Government of India to the tune of Rs.6,000 crore for capital infusion in Export Import Bank …

New Delhi: Port Wings News Network: Under the banner of Federation of Indian Export Organizations, 30 Indian exporters from textiles and fashion industry participating in INTERMODA, Guadalajara from 15 to 18 January, 2019 at Expo Guadalajara. The items on display includes men, women and children’s wear, swim wears, carpets, leather …

New Delhi: Port Wings News Network: Virtually no growth in overall merchandise exports and a sharp drop of more than  three per cent in engineering goods’  overseas shipments during December 2018 over the same month in the previous year, is a matter of grave concerns , signalling the trade tensions …

New Delhi: Port Wings News Network: Responding to the December, 2018 exports data, President FIEO, Mr Ganesh Kumar Gupta said that the data yet again have shown a marginal growth due to uncertain global cues and challenges on the domestic front. China’s exports contracted in December 2018 highlighting fragile global …

Chennai: Port Wings News Network: A high level delegation comprising 30 leading Indian exporters from Fashion industry will be visiting Mexico and participating in INTERMODA to be held at Guadalajara from 15th to 18th January, 2019 for exploring emerging opportunities in LAC region. INTERMODA- International Apparel & Textile Fair is …

New Delhi: Port Wings News Network: Expressing concern over a sharp annualized drop of over 54 per cent in the gross bank credit deployment in the export sector, EEPC India has said the RBI and the Government need to ensure timely and less expensive credit for the exporters, along with …

New Delhi: Port Wings News Network: Mr Ganesh Kumar Gupta, President, FIEO complimented Mr Suresh Prabhu, Commerce & Industry and Civil Aviation Minister for presiding over a meeting to discuss problems faced by the export sector.  Minister of State for Finance, senior officers from Finance, Revenue, DGFT and Commerce Department …

New Delhi: Port Wings News Network: Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, presided over a meeting of Government officials and export organizations in New Delhi today to discuss problems faced by the export sector. Suresh Prabhu highlighted the declining trend of export credit in recent …

Chennai: Port Wings News Network: Essar Global Fund Ltd (Essar Global), the holding company of the Essar Group of companies, on 7 January 2019 reached yet another milestone in deleveraging by repaying the last tranche of debt of Rs 12,000 crore (US$1.75 billion) to its various Indian and foreign lenders. …

New Delhi: Port Wings News Network: The extension of Interest Equalization benefit to merchant exporters will help in increasing country’s exports, said Mr Ganesh Kumar Gupta, President, FIEO. Merchant exporters contribute to about 35% of country’s exports and high cost of credit equally blunts their competitive edge, observed FIEO Chief. …

New Delhi: Port Wings News Network: Ministry of Micro, Small and Medium Enterprises (MSME) has recently established an Export Promotion Cell with an aim to create a sustainable ecosystem for entire MSME development. The benefits likely to accrue to the MSMEs are: Evaluate readiness of MSMEs to export their products …

New Delhi: Port Wings News Network: The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval to the proposal of the Department of Commerce for including merchant exporters under the Interest Equalisation Scheme (IES) for Pre and Post Shipment Rupee Export Credit …

New Delhi: Port Wings News Network: Union Minister of Textiles, Smriti Zubin Irani, presented awards to handicrafts exporters for their outstanding performance in exports for the year 2015-16 and 2016-17 at a function at India Expo Centre & Mart in Greater Noida, Delhi NCR, on 18 December. Minister of State …

Chennai: Port Wings News Network: The Airports Authority of India is planning to invest Rs 20,000 crore in the next five years in areas of new infrastructure and connectivity in airports across India, Mr G Chandramouli, Airport Director, Chennai International Airport, has said. Speaking at the third edition of Chennai …