Union Minister of Commerce & Industry Piyush Goyal on Tuesday said that the balance of India-Indonesia trade is heavily in favour of the latter and both countries need to work towards establishing sustainable trade by diversifying the export basket.
The expensive gift that you kept for your overseas cousin or friend may attract tax from this year with the Budget 2019-20 proposing to impose withholding tax all such transfers, plugging an earlier loophole that allowed its tax- free treatment.
A huge jump in duty-free garment imports from Bangladesh under the free trade agreement has put the domestic industry in a fix. This comes amidst slowing domestic demand and banks curtailing credit to 80 per cent of MSMEs (micro, small and medium enterprises) in the sector.
To help manufacturers of low value products to reduce cost of production, the government should promote large scale apparel manufacturing by incentivising medium-sized firms to scale up to large-sized, the Indian Texpreneurs Federation (ITF) has said. In FY 2018-19, twenty per cent of the items in high volume products basket were priced below $3 per apparel.
With reference to ‘RBI Governor expects to lower lending rates’ (July 9), wherein it was mentioned that ₹1.34 lakh crore window is made available to banks under facility to avail liquidity for liquidity coverage ratio (FALLCR). There is a growing opinion that banks can make use of this facility and increase their exposure to NBFCs. This is not true.
Businesses, especially MSMEs, require a steady source of finance if they are to meet the hiccups of kick-starting their business and growing it.