India appeals against WTO panel's ruling on Export Promotion measures

NEW DELHI: India has appealed against a World Trade Organization (WTO) dispute settlement panel's ruling that had recommended withdrawal of its key export subsidy schemes, including the one for special economic zones in the next 90-180 days.

 

On October 31, the WTO had ruled that export subsidy programmes-Merchandise Exports from India Scheme (MEIS), Export Oriented Units Scheme and sector specific schemes, including Electronics Hardware Technology Parks Scheme and Bio-Technology Parks Scheme; Export Promotion Capital Goods Scheme; and Duty-Free Imports for Exporters Scheme- violated provisions of the trade body’s norms.

Kenya risks losing port to China casting shadow over India's outreach in Eastern Africa Read more at: //economictimes.indiatimes.com/articleshow/72136046.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

NEW DELHI: Kenya risks losing the lucrative Mombasa port to China should the country fail to repay huge loans advanced by Chinese lenders in what would be a rerun of Hambantota episode in Sri Lanka casting a shadow on India's outreach in Eastern Africa.

Kenya was one of three African countries identified in a March 2018 report by the Washington-based Center for Global Development as at risk of debt distress as a result of its Belt and Road participation. The others were Egypt and Ethio ..

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China is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda .

China is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda .

China is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda .

China is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda .

China is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda .

hina is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda

hina is now the single largest financier for infrastructure in Africa, funding one-in-five projects and constructing every third one, according to a Deloitte report. Forty out of Africa’s 55 states, along with African Union have signed memoranda

India to start construction of Wadhavan port by 2020

November 19, 2019: Gopal Krishna, secretary, Ministry of Shipping, today announced in a CII event that the Government of India intends to develop an all-weather port at Wadhavan, 140 kilometer north to Mumbai. The construction of the port will begin in 2020 and will have nine berths for large container ships. The government wants India to be one of the top ten global container port hubs.

Krishna also said that the country is raising its ship recycling capacity by 40 percent by 2024 and wants to become a global leader in the segment.
“India aims to be a global leader in ship-recycling: capacity being raised from 5mn GT (2018, 25% of global) to 9mn GT (2024, 35-40%). Recycling of Ships Bill, 2019 will align law w international conventions: focus on the environment, worker safety,” the CII tweet reads.
Krishna also shared his thoughts on the government’s plan to develop inland waterways particularly for the northeastern region. The inland water transport fairway in the Ganges will be ready by 2020 and the Eastern Waterway Connectivity Transport Grid will give the North-East access to Nepal, Bhutan, Bangladesh and Myanmar.

World goods trade may remain below trend in Q4 2019: WTO

PARIS: The World Trade Organisation (WTO) has said the global goods trade is expected to remain below trend in the fourth quarter of the current year amid increasing protectionism and increase in customs duties. The forecast does not augur well for India as the country's exports contracted for a third month in a row in October by 1.11 per cent to USD 26.38 billion.

 

"World merchandise trade is expected to remain below trend into the fourth quarter of 2019," according to the WTO's latest Goods Trade Barometer.

 

The Goods Trade Barometer provides real time information on the trajectory of world merchandise trade volumes relative to recent trends.

It said the indices for international air freight, electronic components, and raw materials have all deteriorated further below trend.

Electronic components trade was weakest of all, possibly reflecting recent tariff hikes affecting the sector, it added.

 

In September, WTO economists downgraded their trade growth expectations for 2019 to 1.2 per cent, down from the 2.6 per cent forecast in April. They attributed this substantial deceleration to slowing economic growth, increased tariffs, Brexit-related uncertainty, and the shifting monetary policy stance in developed economies.

India's finished steel exports fall 34 % to 6.36 MT in 2018-19 : Steel Minister November 20 , 2019

NEW DELHI: India's finished steel exports dipped 33.9 per cent to 6.36 million tonne (MT) in 2018-19, amid the Government's efforts to keep the Country as the net exporter of the metal.

The Country produced 110.92 MT of crude steel during the same year, a rise of 7.6 per cent as against 103.13 MT in 2017-18, Minister of Steel Dharmendra Pradhan said in the Lok Sabha.

The Minister also said the Country exported 6.36 MT of finished steel during 2018-19, registering a fall of 33.9 per cent as compared with 9.62 MT in the previous year.

Recently, Pradhan said that in the next two-three years, India will be in a position to continue to remain the net exporter of steel for years.

"We also produce saleable steel. We sometimes become importer, sometimes we are exporter. At present, we are net importer, we are importing about 2-3 MT... Within the next two-three years, India will remain a net exporter of steel for years. There will be no import," he had said while speaking at an industry event.

ihar can ramp up exports to US $ 2 bn : Export-Import Bank of India

PATNA: Export-Import Bank of India has said Bihar was sitting on an untapped export potential worth US $ 900 million which, if harnessed judiciously, could propel the value of merchandise exports from the state to US $ 2 billion in the short term.

In the year 2017-18, the merchandise exports from the State was valued at US $ 1.35 billion, of which the major contribution came from petroleum products at 66%, followed by buffalo meat 6.1%, other grains 5.1%, non-basmati rice 5% and pharmaceutical formulations and organic material 3.7%.

Presenting the findings of a study commissioned by the industries department, at an interactive meeting with stakeholders, Export-Import Bank of India General Manager Lokesh Kumar said, “The potential is huge and opportunities are big. US $ 2 billion goal is achievable once we start believing in it and create the enabling environment.”

Textile and garment sector occupies the highest slot in the list of 81 items, identified as product champions, with 24 types of products, followed by pharmaceutical ingredients and animal products that could give a leg-up to the endeavour to expand the export basket from the State.

The study, compiled by Jahanwi Singh, Chief Manager, Export-Import Bank of India, has recommended the setting up of inland container depots (ICD), a crucial and persistent demand by local industry leaders, establishment of custom clearance office at the existing ICD facility in Patna, augmenting warehouse and cold chain infrastructure and setting up SEZs in Patna, Bhagalpur and Muzaffarpur.

Mumbai Port welcomes Four Cruise Ships November 20 , 2019

MUMBAI: In keeping, with the promotion for the Cruise shipping undertaken by Ministry of Shipping and Mumbai Port Trust, encouraging results are showing up.
For the first time, Mumbai Port have four cruise ships docked on the same day on 18.11.2019.  ‘Mein Schiff 6’ coming from Muscat, having 2500 passengers on board arrived at 5.00 a.m. ‘Karnika’ having 800 passengers arriving from Goa berthed at 6.00 a.m. ‘Silver Spirit’ arriving from Muscat with 570 passengers docked at 8.00 a.m and ‘Angriya’ arriving from Goa with 124 passengers docked at 07.00 a.m. This is a momentous occasion having four cruise ships together on the same day in Mumbai Port Trust.
With about 1700 passengers booked for departure on ‘Karnika’, 136 passengers booked for departure on ‘Angriya’ and 500 passengers on ‘Silver Spirit’, there will be in all more than 6000 passengers transiting through Mumbai Port.
Mumbai Port Trust is constructing a State of Art Cruise Terminal of international standard, having 4,00,000 sq. ft. built up area full with retails, café, shops and other leisure and entertainment provisions, besides being a terminal for International and Domestic passengers. The terminal is likely to be operational from June/July, 2020