ATMA to invest Rs 1,100 crore to encourage rubber plantation in northeast India

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Industry body Automotive Tyre Manufactures Association (ATMA) will invest Rs 1,100 crore to undertake rubber plantation in additional 2,00,000 hectares of land in northeast India in the next five years. Union Commerce and Industry Minister Piyush Goyal, while participating in a virtual seminar, thanked ATMA for agreeing to invest Rs 1,100 crore for developing a plantation in […]

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ASEAN countries call for temperance in trade restrictive measures amid COVID-19; to review FTA arrangements

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Economic and trade ministers of 18 countries, including India, the US, and China, at the East Asia Summit agreed that trade restrictive measures taken to address the impact of coronavirus pandemic must be transparent and temporary, according to a statement. The ministers also emphasised that trade measures in view of COVID-19 should not create unnecessary […]

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India frames norms to enforce ‘rules of origin’ for imports under FTAs

The Indian government has come out with norms for the enforcement of ‘rules of origin‘ provisions for allowing preferential rate of customs duties on products imported under free trade agreements, PTI reports. The new norms have been framed with a view to checking inbound shipments of low quality products and dumping of goods by a third […]

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ASEAN steel industry coping well despite COVID-19; post-pandemic future not as bleak as expected

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(The story appears here courtesy our content partner Mysteel Global) The COVID-19 pandemic has imposed a devastating impact worldwide including the ASEAN region, but with the prompt and effective coping measures, the prognosis for the steel industry in the region in the post-pandemic era might not be as bleak as expected, Yeoh Wee Jin, secretary general […]

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Worldsteel predicts lower productivity and an extended production cycle for different geographies

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As most countries have been gradually reopening from their lockdowns since mid-May, recovery of economic activities is expected in the third quarter, claims the recently released Short Range Outlook (SRO) report for 2020 and 2021 by Wordsteel. Even though all steel-using sectors are affected by the lockdown measures, the mechanical machinery and automotive sectors are […]

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India says big no to RCEP as market access and tariff concerns not answered

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India has decided to not join the 16-nation Regional Comprehensive Economic Partnership (RCEP) trade deal on grounds that its key concerns over the agreement have not been addressed.  Prime Minister Narendra Modi said in Bangkok that the current form of the RCEP Agreement “does not fully reflect the basic spirit and the agreed guiding principles” […]

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UPASI, apex body of planters complains about proposed RCEP

The proposed Regional Comprehensive Economic Partnership (RCEP) will harm and worsen the trade deficit in the plantation commodities and make things miserable for the sector, which is already facing challenging times on account of low prices and high cost of production, says a study by the United Planters’ Association of Southern India (UPASI) , an […]

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