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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102140) | |
23151. Agriculture Tax Increase On Crude Palm Oil Imports Could Reduce Shipments
- India's palm oil imports have been rising since December 2020 after the country had cut its import tax on the oil to 27.5 per centin late November.
- The cess would provide resources for "an immediate need to improve agricultural infrastructure," Ms Sitharaman said.
- The tax increase will narrow the duty gap between palm oil and other edible oils, which could reduce India's palm oil imports and potentially put pressure on Malaysian palm oil prices.
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23152. Hike in import duty raises hopes of artificial gemstone manufacturers
- The industry, which once employed three lakh people in Tiruchi, has less than a thousand players now
- The hike in customs duty on imported artificial gemstones from 7.5% to 15% in this year’s budget has buoyed manufacturers in Tiruchi who are desperately looking for measures to revive the once thriving industry here.
- The industry, which once employed at least three lakh people in Tiruchi – manufacturers, traders and rural workers - at its peak in the mid-1990s, now has less than a thousand players.
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23153. India approves 156 defence equipment for export
- India approved the export of 156 defence equipment, including Astra missiles and Tejas indigenous Light Combat Aircraft, artillery guns, explosive, tanks and missiles, anti-tank mines and others, worth an estimated Rs35,000 crore, as the government is looking at enhancing defence exports to friendly countries.
- The export list also includes 19 aeronautical systems, 16 nuclear-biological-chemical equipment, 41 armament and combat systems, 28 naval systems, 27 electronic and communication systems, 10 life protection items, four missile systems, four micro-electronic devices and seven other material.
- Defence Research Development Organisation (DRD0) released the extended list, which now includes even Beyond Visual Range (BVR) air-to-air missile Astra, anti-tank guided missile Nag and Brahmos weapon system.
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23154. India to bring down defence equipment import bill by $2 billion by 2022: Singh
- To attract foreign investment into defence manufacturing, the Modi government last year announced a slew of measures including raising the cap on foreign investment from 49% to 74%.
- Indian companies were awarded defence contracts worth $37 billion during 2016-19, defence minister Rajnath Singh said, adding that New Delhi will endeavour to bring down its defence equipment import bill by at least $2 billion by 2022.
- It has also brought out a list of 101 items that India will not import.
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23155. India's coal import rises by 15% in December
- Coal will continue to play a major role in new electricity generation capacity in India, Reliance Power Ltd.'s Chief Executive Jayarama Chalasani said
- Non-coking coal imports were at 15.63 MT in December this fiscal against 14.21 MT in the same month last fiscal
- The country's coal import rose by 15.1% to 23.63 million tonnes (MT) in December 2020 compared to 20.52 MT in the year-ago month.
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23156. First exports of country's homegrown Bharat Biotech Covid shot likely this week
- Bharat Biotech has already supplied millions of doses of COVAXIN, developed with the state-run Indian Council of Medical Research. India's Bharat Biotech said on Tuesday it was likely to export its Covid-19 vaccine to Brazil and the United Arab Emirates this week, a major success for the shot approved at home for emergency use without efficacy data from a late-stage trial.
- Bharat Biotech has also applied to conduct a Phase III trial for COVAXIN in Brazil, which plans to import 8 million doses of it in February and another 12 million in March.
- Bharat Biotech has also sought emergency use authorisation in the Philippines. The company has supplied 5.5 million doses to the Indian government and is selling 4.5 million more, the spokeswoman added.
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23157. Indian engineering exports increase by 18.69 per cent during January 2021
- Indian engineering exports have increased by 18.69 per cent during January 2021 with exporters expressing optimism about external demand in the remaining months of the current financial year,
- past few months have shown a robust recovery in the external demand in the major markets of the US and Europe besides several key Asian economies
- Engineering exports for January, 2021 have gone up to USD 7174.43 from USD 6011.43 in the same month last fiscal , raising prospects for February and March . '' Exporters have navigated the post-Covid global market with innovative offerings to the buyers
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23158. Balrampur Chini Mills : Container shortage slows Indian sugar exports, fuels price rally
- India's sugar exports could fall by 12% to 5 million tonnes this year as a shortage of containers slows trade and threatens to drive up global prices that are already at four-year highs, industry officials told.
- The lower exports from the world's second biggest sugar producer, especially during the first half of 2021, could also allow rival Brazil to increase shipments in the second half of the year when Brazil does the bulk of its exporting.
- India could export 5 million tonnes of sugar in the 2020/21 season ending on Sept. 30, lower than last year's 5.7 million tonnes
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23159. Rice exports to China a boost to Haryana industry
- The demand for the Indian non-basmati varieties of rice by China, which is the largest producer of rice in the world, has given a boost to the state industry. So far, eight exporters from the state have been supplying broken rice to China.
- The industrialists are expecting good prospects in coming days as well, as they have a good stock of broken rice owing to less demand by the liquor industry during the Covid-induced lockdown.
- Ritesh Sharma, principal scientist of the Basmati Export Development Foundation, a part of the Agricultural and Processed Food Products Export Development Authority, said it was the results of Prime Minister Narendra Modi’s visit to China, after which a delegation visited several rice mills. “It is a good sign for rice exports and it will definitely boost the local industry in coming days also
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23160. GJEPC signs MoU with eBay to boost retail exports of Gems & Jewellery from India
- The Gem & Jewellery Export Promotion Council (GJEPC), apex body of Gem & Jewellery trade in India since 1966 signed an MoU with ES Online Services (India) Pvt. Ltd. (an eBay Group Company) to provide impetus to Indian Gem & Jewellery sellers on the global e marketplace.
- eBay will create a micro site (‘Made in India’ page) for GJEPC Members selling in eBay websites. GJEPC Members subscribing on eBay marketplace(s) will be placed together on this proposed micro site for better accessibility. ES Online will facilitate awareness workshops/ webinars/ seminars to educate GJEPC Members about e-commerce retail exports opportunities and train on policies and best practices in product listings, selling, shipping, and customer services.
- GJEPC will be setting up an eCommerce Promotion and Facilitation Desk (“EPFD”) at all its 6 Regional Offices which will have a dedicated manpower promoting eCommerce amongst GJEPC Members and generating leads. While ES Online to train the manpower at EPFD. “GJEPC’s association with e-Bay will help the gem and jewellery industry to contribute to our Hon’ble Prime Minister’s dream of enabling MSMEs to reach out to the Overseas Customers
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