Indian government to invest Rs.25,000 crore in fisheries in 3-5 years

As part of the ambitious Blue Revolution project, the Union government has lined up Rs.25,000 crore to invest in different segments of the fisheries sector in the next three to five years. The funds will be used to build infrastructure. The government expects to double inland fish production to 6 million tonnes. Rajni Sikhri Sibal, Secretary, […]

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Government of India permits duty free replenishment of precious metals for Jewellery exporters

The jewellery exporters have been permitted to claim duty free replenishment of gold, silver and platinum used in the manufacture of items sold abroad, according to the notification issued by the Ministry of Commerce. The notification amending Para 4.34(i) of the Foreign Trade Policy has been welcomed by the Gem & Jewellery Export Promotion Council […]

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Eight core sectors growth slows to 2.1% in July; Manufacturing growth falls to 15-month low in August 2019

Growth of eight core industries dropped to 2.1 per cent in July mainly due to a contraction in coal, crude oil, natural gas and refinery products, according to official data. The eight crore sector industries – coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity – had expanded by 7.3 per cent […]

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Fake-branded gold bars infusing illegal gold into world markets

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A forgery crisis is quietly roiling the world’s gold industry, claims a Reuters report. Gold bars fraudulently stamped with the logos of major refineries are being inserted into the global market to launder smuggled or illegal gold, refining and banking executives tell Reuters. The fakes are hard to detect, making them an ideal fund-runner for […]

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India’s exports of extra sugar may drag down already low global prices

India’s export of sugar is being labelled as India dumping its extra sugar on the world, threatening to further drag down prices that are already at the lowest in almost a year, reports Bloomberg. India’s government is spending Rs 6,268 crore ($873 million) to subsidise exports in an effort to cut the nation’s record stockpiles. […]

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