Speed bumps for tyre MNCs in India
Global giants operating in India are evaluating if it makes economic sense to invest in a new plant, in light of the country's tyre import ban.
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Changing the tyres of your luxury car just got tougher
DGFT, in a bid to promote domestic manufacturing, has put tyres under the restricted category. That has meant that an importer now requires a license for imports. The replacement market has been hit.
India’s foreign exchange reserves at lifetime high
The big question is how much more foreign exchange will the Reserve Bank of India buy, and why?
India’s forex kitty could swell to $550 billion
Since April 2001 foreign exchange reserves grew 11.15 times to $476.09 billion in mid-February; the RBI may add $21 billion more by March 2021, according to a BofA Securities report.
Safeguard duty on solar cell imports to hit domestic solar projects
The government plans to levy a 25% tax in the first year, which will be lowered to 20% in the first half of next year and further slashed to 15% in the second half of the year.
‘Want to make Indian steel industry competitive’
At the annual Fortune India Next 500 summit, minister of steel Chaudhary Birender Singh says he wants India’s steel industry to be number one in terms of quality in global rankings.
India’s proposed offset policy: Can it be the new dawn?
India’s offset policy was meant to reduce imports and promote self-reliance in defence manufacturing. But it continues to be a highly import-dependent nation for its military equipment requirements.
Goldstone-BYD looks to ramp up localisation
Chinese electric vehicle giant BYD and Hyderabad-based bus maker Goldstone Infratech’s JV is looking to achieve 60-70% localisation in one year and bring down costs significantly.
Trade deficit to widen to a four-year high: Report
Higher oil prices and a weakening rupee will stretch India’s trade deficit in 2018-19.
