Government of India allows export of bio-fuels from special economic zones, EoUs

The government of India has allowed export of bio-fuels from special economic zones (SEZs) and export-oriented units (EoUs) with certain conditions, according to a notice of the directorate general of foreign trade. In August 2018, the government had imposed restrictions on export of bio-fuels for non-fuel purposes. After this restriction, exporters operating from SEZs and […]

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Government of India withdraws duty free gold import for jewellery exporters

The Director General of Foreign Trade (DGFT) issued a public notice last week to discontinue duty free import of gold before exports. The move is meant to arrest the misuse of incentives offered on gold jewellery export.. The restricting move by the government has come a few months after the exposure of a scam in large jewellery houses in February […]

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Domestic trade wants Indian government to include pulses in the country’s public distribution system

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The India Pulses and Grains Association (IPGA) has asked the government to supply pulses through its public distribution system (PDS) to provide better price realisation to farmers and ensure the country’s nutritional security. The demand has been placed with the consumer affairs ministry, which pointed out that under the National Food Security Law, while the […]

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Rabobank, UN Environment agency announce new $1 billion partnership to kickstart climate smart agriculture

Rabobank and the UN Environment agency have announced the creation of a new $1 billion facility to finance sustainable agriculture using a combination of public and private funding. Together, they have also invite other interested financial institutions to sign up and work actively with global food companies to put this into practice. The facility aims […]

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GST should boost India’s long-term growth prospects; short-term pain seen – Fitch

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India’s new Goods and Services Tax (GST) will unify the indirect tax system and remove domestic barriers to trade, which should support productivity gains and GDP growth over the long term, Fitch Ratings said in a note. The GST that came into effect on 1 July is relatively complex, including multiple tax rates for different […]

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How increasing urbanisation is changing energy footprints

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Twenty-five years ago there were only 10 urban areas in the world that could boast more than 10 million inhabitants. Now there are more than 35 so-called “megacities” worldwide, and by 2040 the United Nations estimates that nearly 65 percent of the world’s population will call cities home. According to Demographia’s latest World Urban Areas report, 37 urban areas provided […]

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India approves new steel policy; govt projects to use only locally made steel and iron products

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India has approved a new policy under which locally produced steel and iron products will get preference over imports in all government projects as part of a bigger plan to boost local steel capacity to 300 million tonnes (MT) by 2030. A government statement said the cabinet had approved the new steel policy that charts […]

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China’s central state enterprises to continue cutting overcapacity – report

China’s central government-administered state-owned enterprises (SOEs) have pledged to continue to cut overcapacity in key sectors, aiming to reduce steel capacity by 5.95 million tonnes and coal by 24.73 million tonnes. “Detailed plans have been made by central SOEs,” the official Xinhua news agency quoted an insider who preferred to remain anonymous as saying. For […]

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India’s Economic Survey predicts GDP growth in 2017-18 at between 6.75 % and 7.5% post-demonetisation 

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The adverse impact of demonetisation on India’s economic growth will only be transitional, and the real gross domestic product growth in the 2017-18 financial year is projected to be in the range of 6.75-7.5 percent, the annual Economic Survey said. The document, presented by Finance Minister Arun Jaitley in parliament, said the economic situation would […]

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