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Exporters have asked the government to formulate an incentive scheme for labour-intensive sectors such as leather and textiles to prevent job losses amid concerns the US could withdraw the generalised system of preferences (GSP), which provides zero tariffs on $5.6-billion worth of the country’s exports.

SEOUL: Prime Minister Narendra Modi Thursday said the Indian economy is based on sound fundamentals and will in the near future double in size to USD 5 trillion, as he hardsold the country as a "land of opportunities" to investors in South Korea. 

MUMBAI: The rupee inched up 2 paise to 71.22 against the dollar in early trade on Friday amid a dip in crude oil prices and fresh foreign fund inflows. At the forex market, the local unit opened almost flat at 71.23 and stayed in a narrow range. The rupee had skidded by 13 paise to close at 71.24 against the dollar on Thursday.    

While there is a general consensus in the GST Council about the need to give tax relief for the housing sector to boost demand, a section of it is concerned about large scale tax evasion by builders and so it wants to ensure that relief should be structured in such a way that revenue leakage is plugged.

MUMBAI | BANGALORE: The implementation of the Goods & Services Tax has propelled India’s logistics and warehousing absorption to an all-time high of over 24 million sq ft in 2018, recording a growth rate of over 40% compared to 2017, showed data from CBRE South Asia.

VASCO: Outlining the Centre’s vision for defence public sector units (DPSUs), defence minister Nirmala Sitharaman on Thursday urged DPSUs to tap the potential for export of military equipment, including warships, while continuing to cater to the needs of the Indian Armed Forces. 

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