With Bangalore emerging a favourite place for call center firms entering India, the software technology parks of India (STPI)- Bangalore is trying to showcase other cities in Karnataka such as Mangalore as an alternative BPO destination.

(BL/23/8)

The gem and jewelry export promotion council (GJPEC) has launched a certificate and advanced courses in jewelry designing and manufacturing at the Indian institute of gem and jewelry. 

(BL/23/8)

While speculation rages on scrapping cotton import duty altogether from 10% now, large sections of the spinning industry have demanded a reduction in import duty on man made and synthetic fibres as well.  This, they feel, should precede any reduction in prices realized by cotton farmers.

(ET/23/8)

Politically, the strengthening of ties between India and China may have begun only in June 2003, with the Prime Minister’s visit to China, but trade between the two countries has improved substantially during 2002-03.  Somewhat surprisingly, India’s net imports (imports minus exports) from China have shown a 16% decrease over the financial year 2002-03.  In absolute terms, the net imports for FY 2002-03 fell to Rs.4363 crore from Rs.5180 crore.  This can be attributed to the fact that while the overall imports from China grew by only 36%, exports have grown by more than 95%.

(ET/23/8)

In what is seen to be a significant move, the government has placed export of all rare earth minerals, including radioactive thorium and uranium-bearing monazite, on the ‘free’ list. The commerce ministry has removed ‘rare earths, ores, concentrates and compounds of monazite’ (item code 2614) and ‘other minerals containing the following substances as accessory ingredients including (1) samerskite and (2) uraniferrous allanite radium ores and concentrates’ (item code 2617) from the ‘restricted’ list, which means exports of these minerals do not any longer require a license.

(BL/22/8)

The reserve bank of India has enhanced the limit of import remittances permissible without documentary evidences from $25,000 to $100,000.  Authorized dealers making import remittances need ensure that the importer submits the documentary evidences of import, if the value of foreign exchange remitted/paid for import in to India exceeds $100,000 and $25,000, or its equivalent.

(BL/22/8)

A sharp shrinkage in the annual production cycle may nudge the fragmented leather garment industry towards a round of consolidation.  Typically, garment exporters work on a cycle that begins with order placement in February and ends in November.  This year, the cycle has been squeezed to a time frame of April to August.  Turmoil in Iraq that followed a year of economic uncertainty in Europe and US is the most frequently cited reason by industry sources for a delay in order placement, and the consequent shrinkage.

(BL/22/8)

With right environment, industry can cope
The US has mooted a proposal in the WTO favouring the ‘zero for zero’ duty concept for customs duty  (allowing imports at zero duty and, in return, expecting reciprocal zero duty treatment for exports) for select sectors and countries.  The Indian government has sought the views of Indian industry on the proposal.  This article seeks to present the perspective and preparedness of Indian industry on the issue.

(BL/22/8)

A large number of vegetable oil importers are in a fix following issue of customs notification 120/2003 on August 1 whereby the government stipulated that the imported product described as crude palmolein ‘shall have acid value of 2%’ and total carotenoid (as beta carotene) in the range of 500-2500 mg/kilogram.

(BL/22/8)

Exports may decline as the Iraqi market has collapsed.  In 2002, Indian tea industry registered a record trade of 43 million kilogram under the oil-for-food programme.  But this is no longer applicable.  Hence, exports are likely to be down.  Regarding exports, the status paper pointed out that huge quantities of inferior quality teas are being imported and then re-exported from India.  This has affected the image of Indian tea in the global market.  ‘There is no mandatory quality checks on imported tea as per government rules.  These teas do not bear ‘multi-country’s origin declaration but only bear the name and address of the Indian exporter’, it stated.

(BL/22/8)

With orders from the US and Europe in full flow, auto component exporters were confident of doing well despite a depreciating dollar.  But a bigger threat looms on the domestic arena, rising steel prices.  With Indian steel manufacturers, except Tata steel, not keen on entering into long-term contracts for steel supplies, auto component exporters are caught between price-sensitive export markets and unrelenting local steel suppliers.

(ET/22/8)

Leather exports may drop by $700 million if the center goes ahead with the cow slaughter ban, the chairman of the council for leather exports, Mr. S.S.Kumar, has said.  He told presspersons after the 16th annual general meeting of the Indian leather products association (ILPA) a 30% drop in volume was being feared by exporters.  ‘Alongside, the employment of 1.5 million people is likely to be jeopardized,’ he said.

(BL/21/8)

Importers of methylene chloride, a solvent used in photo films, bulk drugs and pharmaceutical industry, may soon be compelled to fork out a higher price for their import consignments of such solvents from the European Union, South Africa and Singapore.

(BL/21/8)

In a bid to win additional market access for Indian farmers, India has joined 13 other WTI members to call for sharp cuts in domestic subsidies and phased elimination of export subsidies.  Meant to counter the recent bid by the United States and the European Union (EU) to protect their subsidies, the proposal was submitted to WTO’s general council on 20th August.  In view of the impending elections, India has made sure that the proposals do not seek a sharp cut in import duties as demanded by the Cairns group of countries which are extremely bullish on enlarging market access.

(ET/21/8)

The tea industry has, for the first time in recent years, estimated a growth in domestic demand as well under 2% per annum.  A status paper of the Indian tea association, which is underway, estimates the domestic consumption to go up at a reduced rate of 1.8%.  Earlier the industry has estimated a regular annual growth at rates between 2.5-3.5%.

(ET/21/8)

India, the world’s biggest edible oil buyer, is likely to import 9% less of the commodity in the year starting in November than in the previous year due to a surge in oilseed output, a senior industry official said.

(ET/21/8)

The first inland container service (ICS) along the eastern coastline is poised for a kick-start soon with Mumbai-based Shreyas shipping deciding to take the plunge.  Shreyas currently operates a coastal container service between Haldia Dock Complex (HDC) and Chittagong Port in Bangladesh.  However, this is the first time that it plans to go inland, ferrying containers between HDC and Chennai container terminal (CCT).

(ET/21/8)

Both the Kolkata port trust (KoPT) and container corporation of India (concor) have announced the rates for handling and transportation of containers to and from Nepal. The rates, taken together, are at least 30% cheaper than the prevailing road transportation rates between the Kolkata dock system and Birgunge in Nepal, claim concor sources.  This has been possible because both concor and KoPT are charging promotional rates to attract traffic.

(BL/20/8)

Alarmed at the steady decline in export of tea to Russia, the Indian tea association (ITA), the apex body of tea manufacturers in the country, on 19th August said that it would send a high-level study team to that country in the first half of next month.

(BL/20/8)

Increased availability in the international market and the consequent drop in prices have led to decline in exports of cashew kernels from the country by over Rs.50 crore during the first quarter of the current fiscal.  The total exports during April-June 2003 stood at 21,192 tons valued at Rs.392.26 crore as against 23,770 tons worth Rs.443.29 crore in the corresponding period in 2002, Cashew export promotion council of India (CEPC) sources told Business Line.

(BL/20/8)

The rising spree in shellac exports from India in recent months has made the shellac export promotion council (SEPC) ask for the duty entitlement passbook (DEPB) facility from the union commerce ministry on export of shellac and its derivatives.  Defending its demand, an SEPC official said, ‘we don’t know why shellac is excluded from the DEPB facility so far.  But with more opportunities opening up recently in pushing our shellac exports, we urge the ministry to consider our demand to give a further boost to its exports’.

(ET/20/8)

Overseas projects are already a large and growing part of India’s exports, which could shoot up with reconstruction contracts in Iraq.  As per the Exim Bank figures, the value of projects facilitated by them increased by almost 60% in FY03.  Exim bank handles about half of project exports out of India.  Overall data for FY03 is not available as yet, but according to ministry of commerce data, the total value of project exports for FY02 was about Rs.8900 crore, or more than $1.8 billion.

(BL/20/8)

The steep hike in steel prices has hit the hand-tool industry in Punjab hard.  The industry is now unable to fulfill its export commitments to the tune of Rs.500 crore.  The hand-tool industry usually does the entire planning of its export orders for one year at the annual cologne hardware show, which is held in early March in Germany.  Last March, the industry had made export commitments to be fulfilled till March 2004, calculated at the then prevailing steel price of about Rs.15,500 per ton.

(ET/19/8)

Hitting out at the developed nations for their attitudes towards WTO negotiations, India on 18th August warned against the hijacking of the Doha round being by European Union and the United states.

(ET/19/8)

India has tremendous potential to increase its share in the tea market in Pakistan.  Since other neighbouring countries like Sri Lanka, China and Indonesia do not have much scope, as they do not produce significant quantities of CTC, India has the vast potential to increase its present 3% share imports to Pakistan, predominantly a CTC market.

(ET/19/8)

The confederations of flourmills of southern states have urged the government to withdraw the 50% import duty on wheat.  This will enable regular supply of the grains, millers feel.  The confederation, in a letter to the union agriculture minister, has said about 200 mills in the region have been facing non-supply of wheat for the past eight months.

(BL/19/8)

Importers of non-brass metal flashlights from China may now be compelled to fork out higher prices for such items, with the finance ministry imposing a definitive anti-dumping duty on all imports of non-brass metal flashlights from that country.

(BL/19/8)

Opinions in various ministries differ on the union textile ministry’s suggestion for abolition of import duty on cotton at a time when the country is gearing up to harvest a bumper crop and elections are round the corner.  Following the repeated representations from the textile industry, the union textiles ministry has made out a case for abolition of 10% customs duty on cotton, prevailing at present.  Ministry officials have argued that Indian textile industry should be enable to receive their basic raw material at international prices to be competitive in quota-free scenario commencing January 2005.

(ET/18/8)

The finance ministry has now ruled that basic excise duty and special excise duty would not be applicable on twisted filament yarns (including crepe yarns) manufactured by an independent twister from filament yarns on which excise duty has already been paid.

(BL/17/8)

All manufacturer-exporters from now on can self-seal as well as self-certify their export consignments.  Hitherto, this facility was granted only to large manufacturer-exporters who have paid excise duty exceeding Rs.10 crore during the preceding financial year or those who have been accorded the status of super star trading house, star trading house, trading house or export house. The finance ministry’s latest move to extend the facility of self-sealing and self-certification of export goods to all manufacturers-exporters is in line with the recommendation of the task force on indirect taxes, headed by Dr. Vijay Kelkar.  It is a different matter though the task force has suggested that the facility be given to all exporters, which would also include merchant-exporters.

(BL/17/8)

Indian trade has undergone a substantial change in the last five years according to the second ET-CMIE survey.  Over the five years, India’s total export base has grown by 58% from $33.21 billion for FY99 to $52.37 billion for FY03.  This is with reference to the export data compiled and provided by the directorate general of commercial intelligence and statistics (DGCI&S) with inputs from the customs department that records the physical flow of goods to and from the country. IT software exports is estimated at around $9.8 billion for FY03 as compiled by Nasscom. All exports of IT software and services taking place offshore or through the Internet are not included in the above compilation.

Indian imports have also undergone many changes in terms of the contribution of ‘petroleum crude and products’ and non-petroleum imports to the country’s total imports.  The country’s oil import bill almost tripled over the five-year period being surveyed, from $6.4 billion for FY99 to $17.69 billion for FY03. In percentage terms it increased from 15% to 29% over the same period.
 

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