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India imposes anti-dumping duty on aluminium foil from china

aluminium

NEW DELHI: Mere days after issuing definitive anti-dumping duties against aluminium radiators from the People’s Republic of China, India’s Directorate General of Anti-Dumping and Allied Duties (DGAD) levied another such duty against aluminium foil from the Middle Kingdom. The DGAD issued a notice of the new duty on its website on Tuesday, citing findings published just over two months prior ... Read More »

India Reliance’s April oil imports fall 0.5% on month

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NEW DELHI: India’s Reliance Industries, owner of the world’s biggest refining complex, imported 0.5 percent less oil in April from the previous month, ship tracking data made available to Thomson Reuters showed. The imports were, however, 17.3 percent more than a year ago, when the private refiner had slowed purchases ahead an annual maintenance at one of its plants, the ... Read More »

General Motors to cease sales operations in India by 2017

GM

NEW DELHI: One of the early entrants into the Indian market, General Motors Co. on Thursday said that it will cease its sales operations in India and focus on exports from the world’s fastest growing passenger vehicle market. “The company will focus its GM India manufacturing operations on producing vehicles for export only…,” GM International said in a statement. Existing ... Read More »

India, Tajikistan sign info-sharing pact on Customs

INDIA

NEW DELHI: The Union Cabinet today approved the signing and ratifying of an agreement between India and Tajikistan on cooperation and sharing of intelligence in the area of Customs. The agreement will help in availability of information for the prevention and investigation of Customs offences, an official statement said. It is also expected to facilitate trade and ensure efficient clearance ... Read More »

India, Tajikistan sign info-sharing pact on Customs

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NEW DELHI: The Union Cabinet today approved the signing and ratifying of an agreement between India and Tajikistan on cooperation and sharing of intelligence in the area of Customs. The agreement will help in availability of information for the prevention and investigation of Customs offences, an official statement said. It is also expected to facilitate trade and ensure efficient clearance ... Read More »

Goa customs seizes gold worth 1.86 million at Dabolim

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GOA: In a smuggling attempt, the Air Intelligence Wing of the Commissionerate of Customs Goa Unit on Sunday seized 698 grams of gold worth Rs 1.86 million from a Uttar Pradesh native at the Dabolim Airport. According to officials of Goa Customs, during arrival of Air Arabia flight G9-492 to Goa from Sharjah and based on the inputs provided by ... Read More »

Indian steel makers stay protected from cheap imports as anti-dumping duties stay

INDIA

NEW DELHI: Continuing with the policy of protecting domestic steel-makers from cheap imports, the government has imposed definitive anti-dumping duties on specified HR coils, plates and sheets from a clutch of companies from half-a-dozen nations, including China, Japan, Korea, Russia and Indonesia. An official notification issued late on Thursday stated that the duties will be in effect for five years ... Read More »

India signs first deal to import LPG from Iran

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NEW DELHI: India imports almost a million tons of LPG every month to meet rising demand. Indian media say the country has for the first time signed a contract to import liquefied petroleum gas (LPG) from Iran as part of New Delhi’s plans to support the rising fuel demand by the urban sector, PressTV reports. The Press Trust of India ... Read More »

Indian Customs & Central Excise Settlement Commission Procedure Notification

Indian Customs

MUMBAI: In exercise of the powers conferred by sub-section (4) of Section 32-I of the Central Excise Act, 1944 (1 of 1944) and sub-section (4) of section 127 F of the Customs Act, 1962 (52 of 1962), the Customs, Central Excise & Service Tax Settlement Commission hereby makes the following further rules to amend the Customs and Central Excise Settlement ... Read More »

India’s soyameal exports rise in April

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BENGALURU: India’s soyameal exports rose to 1.11 lakh tonnes in April on continued strong demand from countries such as Bangladesh and France. Shipments of soyameal and other value-added products during April registered an eight-fold increase of 1.11 lakh tonnes against 12,195 tonnes in the corresponding period last year, according to provisional estimates released by the Soyabean Processors Association of India. ... Read More »

Turkey eyes on balanced FTA with India

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ANKARA: Turkey’s President, Recep Tayyip Erdogan, has said that he is keen to launch talks for a free trade agreement (FTA) with India. Erdogan met with India’s Prime Minister, Narendra Modi, earlier this week to discuss the two countries’ economic relationship and in particular Turkey’s two-way trade deficit. Both countries have been active in discussions internationally to lower their tariffs ... Read More »

Indian Customs seizes gold worth Rs3.5m, nabs 2 accused

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NEW DELHI: Two persons have been arrested by the customs for allegedly trying to smuggle into the country gold valuing about Rs3.5 million at Indira Gandhi International (IGI) airport here. One of the accused had arrived from Dubai via Male and Thiruvananthpuram by an Air India flight yesterday. He had given gold in the form of six bars to another ... Read More »

Goa Customs seizes gold bars worth Rs3.47m at airport

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GOA: Continuing to crack down on attempts to smuggle gold through Goa International Airport, the Commissionerate of customs on Friday foiled an attempt by unknown individuals to smuggle 11 gold bars worth Rs 3.5 million. The gold was found during routine inspection of Air India flight AI-994 under a seat and marks the second gold seizure in less than a ... Read More »

India, Cyprus eye more bilateral investments

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NEW DELHI: India and Cyprus on Thursday expressed hope that after the removal of Cyprus as a notified jurisdictional area and the revised tax avoidance pact bilateral investments between the two countries will increase. “These can give a completely new dynamic and strengthen the economic ties, particularly in the field of investments between the two countries,” said Nico’s Anastasiades, President ... Read More »

India withdraws additional customs duties on jute goods import from Nepal

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KOLKATA: India has withdrawn additional customs duties levied on import of jute products from Nepal. The anti-dumping duty, however, continues. A Gazette notification on April 20, said Nepal is eligible to get exemptions from additional duties on jute sacks and bags similar to Bangladesh which was granted the exemption in February 2011. “In the said notification (February 14, 2011), after ... Read More »

APSEZ inks pact with France’s CMA CGM to operate Mundra Port

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NEW DELHI: Adani Ports and Special Economic Zone (APSEZ) today inked a joint venture pact with French shipping giant CMA CGM to operate a new container terminal at Mundra Port for next 15 years. The Adani Group firm said this collaboration will see the Mundra Port becoming India’s largest container terminal port. APSEZ and France’s CMA CGM, a leading worldwide ... Read More »

DRI seizes smuggled gold worth Rs48.8m, nabs 2

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KOLKATA: The illegal gold market in pockets of Burrabazar are back to business with the yellow metal being smuggled through Bangladesh feeding the spurt in demand. The Department of Revenue Intelligence (DRI) on Saturday night arrested two persons carrying 16.3 kg gold valued at Rs 47 million after they came out of the MG Road Metro station. In the last ... Read More »

India, Sri Lanka to sign MoU on Port Development

India, Sri Lanka to sign MoU on Port Development

NEW DELHI: During the Sri Lankan Prime Minister’s visit, the two countries will finalize the MoU for joint development of Trincomalee port to set up a petroleum refinery and a land lease agreement. When Modi visits Sri Lanka, the two countries are due to sign other agreements. “Sri Lankan Prime Minister Ranil Wickremesinghe will be traveling to India on a ... Read More »

India will not achieve target to cut oil imports by 10%

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NEW DELHI: India will not be able to reach its target to reduce its oil imports dependence by 10 percent by 2022, S&P Global Platts analysts reckon. India’s Prime Minister Narendra Modi has set a target to cut import dependence by 10 percent by 2022, amid increasing oil consumption. The imports reduction is expected to be achieved by boosting domestic ... Read More »

100kg Cannabis seized by BSF on Bangladesh border

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KOLKATA:  At least 100 kilograms of cannabis was seized by the Border Security Force (BSF) officials in West Bengal’s North 24-Parganas district on Wednesday, an official said. Acting on a tip-off, the Ramchandra Pur outpost troopers mounted a special vigil near the International Border, the official said. “The BSF personnel challenged some unidentified men with head loads and seized the ... Read More »