General

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 …

New Delhi: Port Wings News Network: Reports that the RBI is contemplating to forward  cases of non-realisation of export proceeds to the Enforcement Directorate, have created an avoidable panic even among genuine  exporters who have   submitted their records about remittance receipts with their banks, EEPC India said. “We have received …

New Delhi: Port Wings News Network: Responding to the November, 2018 exports figures, President FIEO, Mr Ganesh Kumar Gupta said that the data shows that there is marginal growth in exports during the month on account of high base effect year-on-year basis, as exports grew by over 30 per cent …

New Delhi: Port Wings News Network: Under Section 14 of the Customs Act, 1962, the Central Board of Indirect Taxes and Customs (CBIC) notifies the Rate of Exchange for the purpose of conversion of foreign exchange to Indian Rupees (INR) and vice versa for assessment of imports & exports. Currently, …

Chennai: Port Wings News Network: Tirupur Exporters Association (TEA) has expressed disappointment over reduction of Duty Drawback Rates by the government. In a press release issued on 10 December 2018, Shri. Raja M Shanmugham, President, TEA, said the All Industry Rate of Duty Drawback for garment sector was announced on …

Chennai: Port Wings News Network: As part of his company’s corporate social responsibility in rebuilding lives affected in cyclone Gaja that ripped apart parts of Tamil Nadu few weeks ago, industrialist and Chettinad group scion M A M R Muthiah met the Tamil Nadu Chief Minister Edapadi Palaniswamy on 7 …

New Delhi: Port Wings News Network: Welcoming the approval given to new Agri Export Policy by the Union Cabinet, Mr Ganesh Kumar Gupta, President, FIEO, said that the new Policy would provide huge impetus to agri exports from the country and will help in doubling farmers’ income. The corner stone …