Wait...
  1. Home >
  2. Export Import News >
  3. Import News >
  4. Suresh Prabhu calls for govt-level agreement for diamond imports from Russia >
  5. Suresh Prabhu calls for govt-level agreement for diamond imports from Russia

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Suresh Prabhu calls for govt-level agreement for diamond imports from Russia.


Date: 06-10-2018
Subject: Suresh Prabhu calls for govt-level agreement for diamond imports from Russia
Commerce and industry minister Suresh Prabhu has pitched for a government-level agreement with Russia to import diamonds in such a way that it does not impact India’s current account deficit.
Russia has been a major supplier of rough diamonds and semi-precious stones to India. These stone are cut and polished here before exports.

Imports of natural or cultured pearls, precious and semi-precious stones from Russia jumped almost 60% in the last fiscal to $3.95 billion. Over 90% of the world’s rough diamonds are polished in India.

Speaking at the India-Russia Business Summit, organised by industry body CII on Friday, Prabhu said: “If we can work out a government-to-government agreement in which we import… in a manner that does not adversely impact balance of payment and we will meet our demand. (In this way) Russian exports will increase to India and we import it, process it and re-export that, and both get benefitted.”

Prabhu said a single-window system to facilitate Russian investment has been worked out under the chairmanship of Department of Industrial Policy and Promotion secretary Ramesh Abhishek to handhold companies. He also said India will create a space in the Delhi-Mumbai industrial corridor for Russian firms.

The effort to strike an official deal with Russia comes at a time when trade imbalance has worsened India’s current account deficit and exerted pressured on the rupee that on Friday breached 74 against the dollar.
India imported Russian goods worth $8.6 billion in the last fiscal, while its exports to that country stood at only $2.1 billion, leading to a trade deficit of $6.5 billion.

Separately, Prabhu said the government is in talks with various global funds to attract investments, especially in the infrastructure sector. “I have talked to funds in Australia and Canada and government is trying to work with them. Uniqueness of this is that the pension funds of both Canada and Australia are more than the their national GDP,” Prabhu said at an event organised
by Crisil.

The minister has also invited the chairman of Abu Dhabi Investment Authority, the world’s largest sovereign wealth fund, to India on October 15.

Source: financialexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 01-06-2020
Notification No. 08/2015-2020-DGFT
Amendment in Export Policy of Alcohol based Hand Sanitizers

Date: 01-06-2020
Public Notice No. 07/2015-2020
Amendments in the Appendix 3B, Table 2 of the Merchandise Exports from India Scheme (MEIS)

Date: 01-06-2020
Public Notice No. 09/2015-2020
Amendments in the Appendix 3B, Table 2 of the Merchandise Exports from India Scheme (MEIS)

Date: 01-06-2020
Trade Notice No. 13/2020-21-DGFT
Implementation of MoU between India and Mozambique for import of pigeon peas and other pulses grown in Mozambique during 2020-21

Date: 01-06-2020
Instruction No. 08/2020-Customs
24x7 Customs Clearance at all the Customs Stations - reg

Date: 29-05-2020
Circular No. 26/2020-Customs
Review of Circular No. 17/2020 dated 03.04.2020 namely, 'Measures to facilitate trade during the lockdown period- section 143 AA of the Customs Act, 1962'

Date: 29-05-2020
Notification No. 48/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 28-05-2020
Notification No. 07/2015-2020
Amendment in Export Policy of Paracetamol API

Date: 28-05-2020
Instruction No. 7/2020- Customs
Special drive for disposal of applications for fixation of Brand Rate of Duty Drawback.

Date: 27-05-2020
Notification No. 9/2020-Customs (ADD)
Seeks to levy definitive anti-dumping duty on imports of 'Electronic Calculators of all types excluding calculators with attached printers, commonly referred to as printing calculators; calculators with ability to plot charts and graphs, commonly referred to as graphing calculators; programmable calculators',originating in, or exported from, People's Republic of China for a period of five years, in pursuance of final findings of sunset review investigations issued by DGTR and in supersession of the notification No. 24/2015- Customs (ADD), dated the 29th May, 2015.



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001