Page 2 - Domestic Industry

Core sector output shrinks for fourth straight month in June, down 15%

Infra segment, refinery product impacted the most, even as contraction narrows in latest month

From textiles to furniture, 350 items may face non-tariff barriers

Move is in line with govt's 'Atmanirbhar Bharat' objective

FinMin told to levy tax on imported goods to boost local products: Pradhan

The proposed Border Adjustment Tax would be imposed on imported goods in addition to customs duty to bring the imported product at par with locally-made products.

Power sector hopes for reforms at state level as Centre curbs imports

Given the federal structure in the power sector, most states float tenders different from the Centre and adopt separate selection criteria, mostly tilting towards low cost.

India has the ability to reduce dependence on China, cut deficit: Report

The trade deficit contraction estimate has been made for FY22, assuming for a fourth of the items in the 40 specified sectors being sourced locally, Acuite Ratings and Research said.

Goods bought, sold overseas by domestic firms liable to GST in India: AAR

Vendor would issue invoice on applicant against which payment would be made in foreign currency and applicant would raise invoice on customer and would receive consideration in foreign currency.

Govt may impose anti-dumping duty on polystyrene to guard domestic players

The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters

Domestic capital goods companies seek price preference policy from Centre

Companies like Siemens suggest the government needs to reduce the cost of doing business to ensure domestic firms grow

Exports likely to improve in May, contraction expected to be 30-35%: Goyal

Addressing the Digital Summit on Exports organised by the Confederation of Indian Industry (CII), Goyal said he expects the fall in exports to narrow to 8-10 per cent in June.

Use of technology integral for Covid-19 containment strategy: Harsh Vardhan

The GoM was informed that close to 90 million users had downloaded the Aarogya Setu app as on May 4

Govt approves Rs 13K-crore package to boost bulk drugs manufacture

Industry feels India first needs to tap existing capacity before setting up new drugs parks

Why high cigarette taxes hurt the economy

Loss of jobs due to increase in smuggling and counterfeiting is not on the radar of policy makers

Davos 2020: Tariff wars now the new norm, disrupting global value chains

Tariff wars are among the three serious challenges to global trade.

Focus on 'cost of biz' to make industries more competitive: Tata Steel MD

'We have seen some signs of improvement in the last few months of 2019', said T V Narendran

Year closes on a gloomy note

Export, import, private investment, domestic demand, direct tax revenue, and indirect tax collection all show a declining trend

Steps taken to protect domestic industry from unfair trade practices: Govt

There has also been a reduction in the number of actual days taken to initiate investigations

India's RCEP foray may prove disastrous for domestic industry: Expert

The limited number of industries that have called for India to join RCEP need to address their own structural issues.

India must take a leaf out of China's book and prepare its economy for RCEP

The economy needs changes that can't be made overnight; without them, it will continue to under-perform, whether India signs up for RCEP or not. Work should have started 7 years ago, writes T N Ninan

Congress, JDS voice reservations against RCEP deal, threaten protests

Congress leader Siddaramaiah has demanded that government make public the contents of the proposed RCEP agreement and hold consultations before signing it

Why India badly needs an export boost to reverse its economic slump

Almost all the talk at present is about import substitution and raising tariffs, but a fundamental reason for India's recent slowdown has been its failure to generate export momentum, writes T N Ninan