General

Chennai: Port Wings News Network: In a press release issued on 22 May 2020, Shri Raja M Shanmugham, President, TEA, thanked the RBI Governor, Shri. Shaktikanta Das for reduction of the policy repo rate by 40 basis points (0.4%) from 4.40% to 4% with immediate effect and noted that this …

New Delhi: Port Wings News Network: The Federation of Indian Export Organizations (FIEO) has welcomed the RBI’s repo and reverse repo rate cut of 40 basis points by RBI, extension in the moratorium period for another three months till 31 August, 2020 along with the extension of the pre and …

Chennai: Port Wings News Network: Tirupur Exporters’ Association (TEA) on 18 May 2020 requested the Government for extension of moratorium for three months period (that was announced on 24 March 2020 and expiring on 31 May 2020) as there was no industrial activity happening. In a media statement, Shri Raja …

New Delhi: Port Wings News Network: Responding to a yet again highest-ever double digit decline in monthly exports, of well over two and half decades, during April, 2020 by 60.28 percent at USD 10.36 billion, FIEO President Mr Sharad Kumar Saraf said that lockdown measures due to Covid-19 across the …

New Delhi: Port Wings News Network: Welcoming the measures announced by the Finance Minister, Mr Sharad Kumar Saraf, President, FIEO said that both fiscal and non-fiscal measures besides various reform measures announced are much-needed booster dose for the economy during such difficult and testing times when global economies are facing …

Chennai: Port Wings News Network: Tirupur Exporters Association (TEA) on 13 May 2020 thanked the Prime Minister Narendra Modi, Union Finance Minister Nirmala Sitharaman for laying out comprehensive vision to spur growth and become Self-reliant India with a focus on Aatma Nirbhar Bharat package vision. In a media statement, Shri …

New Delhi: Port Wings News Network: Finance minister Nirmala Sitharaman on 13 May 2020 said the government has revised the definition for micro, small and medium enterprises, setting higher limits for investment and turnover to help them grow, according to a news report in Livemint online. The new limits will …

New Delhi: Port Wings News Network: Welcoming the Prime Minister Narendra Modi’s address to the nation made on 12 May evening on restarting economy, Mr Sharad Kumar Saraf, President, FIEO said that the initiatives mentioned by the Prime Minister heralds the arrival of New India. The Prime Minister sensed opportunity …

Chennai: Port Wings News Network: Chennai Customs has facilitated smooth clearance for the passengers of the third evacuation flight as part of the Vande Bharat Mission at Chennai Airport on 10 May 2020. The flight Air India Express IX 396 from Kuwait landed at 09:34 PM on 10 May, at …

  Mumbai: Port Wings News Network: Financial stimulus package as must for MSME to save entrepreneurship, employment, exports and domestic need of the country, Mr. Vijay Kalantri, President, All India Association of Industries (AIAI), has said. AIAI is a premier Chamber of Commerce, an apex body representing the trade, industry …

New Delhi: Port Wings News Network: The Confederation of Indian Industry (CII) called for economic contribution of districts to be taken into consideration while classifying Lockdown Zones. Districts with high economic activity should resume all industrial and business operations, including in Containment Zones with highest safety protocols, said CII in …

New Delhi: Port Wings News Network: Standing behind the government to extend the lockdown for two more weeks with graded relaxations to deal with the Covid-19 crisis, the ASSOCHAM has impressed upon the government to immediately announce an aggressive fiscal stimulus to mitigate the economic pains from the pandemic. “‘The …

Mumbai: Port Wings News Network: With 90% of the trade, employment and  business in Metro cities of Mumbai and Pune shut down , extension of lockdown is set to arrest hopes of many, says Mr Vijay Kalantri, President All India Association of Industries. 25 lakh jobs mostly in retail , …

Mumbai: Port Wings News Network: The lockdown post COVID19 disaster has destroyed trade near to completion and business losses amount to Rs 7-8 trillion during the 21-day period, round about  80,000 jobs are expected to be cut in the retail sector itself and  with the government revenue due to GST …

New Delhi: Port Wings News Network: Responding to RBI announcements made on 17 April 2020, Mr Sharad Kumar Saraf, President, FIEO said that it will be having substantial positive impact on the financial system and the economy in this difficult time. Measures to maintain adequate liquidity in the system through …