Analysts Tells Exporters Rupee Fall May Not Fully Benefit Them

The Indian Rupee (INR) breached the 70-mark against the US Dollar. This would be good news for exporters. However, experts are cautioning the exporters that the benefits from a weaker currency would be negated by the higher price to pay for crude oil. The rupee rapidly slid after India got affected

Massive Imports of Steel hits Indian domestic Steel Industry

Massive Imports of Steel hits

Steel from manufacturers in Japan and South Korea are landing up in the Indian markets, thus denting the Indian domestic steel industry. US President Donald Trump imposed an import duty on steel this year, forcing the mills in that country to redirect the supply. An internal document from the Ministry of

GST Council forms GoM to Address MSME Issues

GST Council forms GoM to Address MSME Issues

As per Finance Minister Piyush Goyal’s statement after the 29th GST Council Meet, the GST Council, under the aegis of the Ministry of Finance, has constituted a Group of Minister (GoM) for Micro Small and Medium Industries. Minister of State (MoS) Finance, Government of India, Shiv Pratap Shukla is the convener

Customs Board Notifies Exchange Rate of Foreign Currency Relating to Imported / Exported Goods

Customs Board Notifies Exchange Rate of Foreign Currency Relating to Imported Exported Goods

The Central Board of Indirect Taxes and Customs has determined the rate of exchange of conversion on each of the foreign currencies into Indian currency or vice versa, with effect from 17 August 2017. The Board has notified this, exercising its powers that Customs Act, 1962 (52 of 1962) section 14 has conferred

MSMEs set to get more procurement orders from NALCO

MSMEs set to get more procurement orders from NALCO

Micro, Small and Medium Enterprises (MSMEs) will soon get an increase in procurement orders from Nalco. Nalco Ltd Chairman and Managing Director T K Chand said that the company will increase procurement of materials from the MSME from the current INR 400 crore to INR 1,200 crore. Chand said that with

India working on new Industrial policy with Textile focus

India working on new industrial policy with textile focus

The Indian commerce and industry ministry has observed that the textile and footwear manufacturing sectors and their exports are concentrated in a few states. Therefore, the ministry intends to formalise an industrial policy that will include special provisions for the textile and footwear sectors. This would help these two sectors

India’s top Aluminium producer wants restrictions on Imports

India’s top aluminium producer wants restrictions on imports

Hindalco Industries Ltd, the largest aluminium manufacturer in India, has urged the government to place a limit on the import of low-cost semis, wire rods and scraps from China, South East Asia and the US. The company has quoted the rising share of inbound shipments in domestic demand as the

Solar Tariffs Witnesses Lowest Ever Tariff in Reverse Auction

Solar Tariffs Witnesses Lowest Ever Tariff in Reverse Auction

The Solar Energy Corporation of India (SECI) conducted reverse auctions, which saw solar tariffs in India seeing the lowest ever level, at ₹ 2.44 per unit in May 2017 for 200 MW and again twice in July 2018, for 600 MW in each instance. The Director General of Trade Remedies (DGTR)