Import Export Industry News - Gems and Jewellery News

Pro-India Trade Policy – I

2008-08-04T10:24:00.001+05:30

The first Trade Policy-2008-09 of the PPP government has been announced without mentioning import target. According to the policy, imports cannot be quantified due to continuous instability in the oil and food prices in international markets. This means all previous commerce ministers of Pakistan as well as world were fool to make import targets. However, the export target was fixed at $ 22.10 billion, representing an increase of 15 percent over the last year, the same rate achieved in 2007-08.

The policy said the government has tried to draw up a trade policy that has a new direction and vision and will have an impact on the lives of those who are the neediest. How it will impact positively the poor's lives was not indicated, presently it is impacting negatively.

Moreover, it seems that the government has unofficially given the status of 'Most Favoured Nation' (MFN) to India. Commerce Minister, Chaudhry Ahmed Mukhtar said India is our neighbour and we are gradually liberalising our bilateral trade. The composite dialogue process, especially on economic and commercial cooperation has been instrumental in addressing the bilateral issues. We are announcing to enlarge the list of importable items from India, which is based on the requests of our stakeholders, which stakeholder requested them was not mentioned. The whole business community, except a few, is opposing imports from India. They said commerce minister has announced a policy which only encouraged imports from India while exports to that country was totally ignored.

The policy said cheaper raw material sourced from India would make exports more competitive in international markets. Import of diesel and fuel oil from India allowed, because it will be cheaper due to the difference in transportation cost. This will also help us to address our global trade deficit. How it will reduce the global trade deficit is not known.

Customs duty on the import of CNG buses was already reduced from 15 percent to zero in the budget 2008-09. Moreover, in case any Indian manufacturer of CNG buses makes a firm commitment to establish manufacturing of such buses in Pakistan, the Ministry of Commerce may provide special dispensation for import of 10 buses via Wahga from each possible investor as test consignment.

The policy expanded the list of importable items from India, not expected to be reciprocated. The Indian import policy allowed only a small number of imports from Pakistan. The Commerce Minister also restricted trade with India to Wahga border and sea route; but it is expected that it may open trade through railways as well as along other border check posts.

The ministry of commerce notifies amendments in the trade policy and also issued a list of importable goods from India, in which 136 more tariff lines had been added, enhancing the list from 1802 to 1938. Pakistan has diverted its global trade worth $ 4.132 billion towards India following inclusion of 438 new importable items in the positive list during the past 10 months.

Ahmad Mukhtar also announced a new scheme designed to improve exports. The over and above three existing schemes, namely duty and tax remission and export scheme (DTREs) - allowed to even those Indian imports that are not included in the 1938 total tariff lines - to those items that are manufactured locally and then exported, temporary import scheme as well as manufacturing bond scheme.

It is to be noted that the DTREs have been considerably misused in the past and, over and above what is available under DTREs, raises duty drawback by one percent of the FOB value for 14 traditional products, including carpets, surgical instruments and sports goods. It is hoped that the loopholes for abuse would be well plugged in the new scheme.

Chaudhry Mukhtar has not mentioned of research and development (R&D) for export industry in general and the textile sector in particular. It was proposed that the government would make necessary adjustments for the textile sector's gas bills. Thus the policy ignored the textile sector at least for the time being. Due to persistent crisis in the sector and the high cost of doing business, the import of the textile machinery has declined by 13 percent. However, the government has extended the six percent R&D support programme for the apparel sector up to June 30, 2009.

Enumerating the factors on the external front he said the international oil prices have been doubled, from around $ 68 to $ 145 per barrel. The increase in the international prices of food items, especially wheat and edible oil, the depressed US economy and turmoil in the international financial markets has reduced external demand for our exports.

In spite of the challenges, on the internal and external fronts that made it difficult for exporters to fulfil their export orders on time and at competitive prices, the export sector has registered a growth of 13.23 percent during 2007-08.

On the internal front power shortages, resulted in load-shedding of electricity and gas impacted our economy. Monetary and exchange rate policies, rising costs of salary bills and raw material, were other factors. While the government itself has increased salaries for Rs 4,000 to Rs 6,000, therefore, no one can be blamed for higher salary bills. Blaming increasing competition in export markets cannot be justified because it is not only for Pakistan but all countries are facing the same problem.

The large-scale manufacturing registered a growth of only 4.8 percent as compared to 8.6 percent last year. Last year the export target was $ 19.22 billion, which was $ 2.2 billion higher than the $ 17 billion achieved in 2006-07. During the year the exports of services were $ 2.9 billion and defence-related exports amounted to $ 63.9 million. Performance of textile group was not satisfactory as the exports were $ 9591.9 million i.e., $ 245.8 million or 2.5 percent less than last year. In spite of this decrease the overall exports growth was 13 percent.

Pakistan exports a few categories such as cotton manufactures and synthetic textiles, leather, rice and sports goods, concentrating on seven products only to seven countries. They collectively accounted for around 72.4 percent of the total exports. In terms of markets also, traditionally 50 percent of exports go to seven countries namely the US, Germany, Japan, UK, Hong Kong, Dubai and Saudi Arabia. The trend from 2003-04 to 2006-07 shows that the growth of exports during this period was around 114 percent in Latin America, 81 percent in Africa and 60 percent in the European group of countries.

The policy said it would help reduce costs of doing business, enhancing competitiveness of exports, but what measures are being taken was not indicated while gas, electricity and oil prices increase making products more costlier. The minister said in order to reduce cost of manufacturing and to make our exports more competitive, it has been decided that:

Plant, machinery and equipment imported to set up a unit in DTRE scheme will be exempted from duty and taxes. Inputs in DTRE will also be allowed to be imported from India.

Pakistani seafood is facing difficulty in exports, therefore it has been decided to undertake following measures to support the sea food sector:

Consultancy services will be arranged through FAO/INFOFISH for aquaculture; peeling shed at Karachi Fish Harbour will be set up in coordination with the Trade Development Authority of Pakistan (TDAP) and Sindh government. Funding will be arranged through the Public Sector Development Programme. Training programme for fishermen in catching of fish will be arranged by the Sindh government. Initial programme of training for trainers will be arranged in collaboration with TDAP. It is expected that these steps will help the fishers sector to enhance exports.

Gems and jewellery is one of the non-traditional items and to encourage the exports and investment all anti-export biases, gold, silver, platinum, palladium, diamond and precious stones has been exempted from levy of customs duties and sales tax. Mining industry is facing serious problems of availability of good quality stones for further processing due to old style blasting which creates wastage of precious resources. It has been decided that the import of machinery/equipment for mining/quarrying and grinding of minerals (along with spares) would be allowed from India. However, it is difficult to hope that this industry would develop as a consequence of this policy.
Source-thepost.com.pk

Hundreds ‘dig in dirt’ at Herkimer Diamond Mines

2008-08-04T10:18:00.000+05:30

HERKIMER —Hundreds of local and out-of-state residents looking for something to do over the weekend found their way to the Gems Festival at the Herkimer Diamond Mines.

Andy Hall, of Morgantown, W.Va., toured the mines’ museum Sunday with his children and girlfriend. He said he was impressed by the large display of Herkimer diamonds, and he was taken aback by how they can be found in the mines.

“It just kind of blows my mind – like how come we don’t have these back home?” he said.

The three-day Gems Festival wrapped up Sunday, after more than 500 people attended the primary day of the festival Saturday, Herkimer Diamond Mines associate Mike Hinman said.

“There were a lot of people,” he said. “Even though the weather was bad, it was still pretty good.”

Visitors Saturday were able to bring in gems to be appraised, participate in jewelry classes and hunt for gems. On Sunday, the museum and shop were busy, while people outside sifted through bags of rock and dirt in search of their own treasures.

Much can be found in a $10 bag, said Bill Bath and Jeanne Krull of Andover, N.J., as they added to their large collection that included Herkimer diamonds — quartz crystals that mimic diamonds — and an arrow head.

“I’m halfway through it, and I found all this,” Bath said.

Krull said they wanted to go camping, and the mines were a big draw that added to their decision to visit Herkimer.

“Who doesn’t like a little digging in the dirt or playing in the water every now and then?” she said.

Bath and Krull said they planned to buy souvenirs for their friends and pass along a good word about the area.

“It’s nice up here,” Bath said.

Michael Christian and his son, Judah, 10, also rummaged through rocks Sunday. They used a sluice box to hold the larger findings while water pushed away the dirt and smaller rocks.

They just moved to Skaneateles from Seattle in March, and Sunday was already their second visit to the mines, Michael Christian said.

“He’s pretty astute in it,” Michael Christian said of his son. “He can name the rocks; I can’t.”

Shortly after, it proved to be true.

“I found another one,” Judah Christian said as he grabbed a clear, pinkish gem. After his father asked what it was, Judah said he thought it was a rose quartz.

As they continued to look, Michael Christian raised his head and smiled.

“It’s just cool to do this kind of stuff with your kids,” he said.

Source-uticaod.com

Govt mulls ban on soda ash export to hold prices

2008-08-02T10:28:00.000+05:30

NEW DELHI: Taking the war on inflation to new frontiers, the government is considering a proposal to ban exports of soda ash and encourage imports of the commodity that goes into construction material such as glass and bricks.

This is in addition to the proposals currently under consideration of the chemicals and fertilisers ministry. The ministry is examining slashing excise duty on major petrochemical inputs.

The idea is also to ease the raw material constraint faced by small manufacturers of glass and magnesium carbonate. Soda ash or sodium carbonate is also used by the brick industry as a wetting agent to reduce the amount of water needed to process clay.

According to the user industry, prices have moved up by at least a third in the last eight months. Prices are on an upward spiral globally too. The world’s largest soda ash maker Brussels-based Solvay SA said on Thursday it is considering to raise prices by 50%, according to overseas news reports.

In the domestic market, the material which used to cost Rs 10,000 a metric tonne in March last year, is sold at about Rs 14,750 a metric tonne now. Chemical companies are contemplating further increase in prices now. They claim that banning exports and pressurising producing companies to lower prices would address their raw material shortage. The government is likely to take a call on the issue shortly. It has asked industry associations like Alkali Manufacturers Association of India to give its feedback on the issue.

Inflation based on wholesale prices is now at an alarmingly high level of 11.98%. With polls in six states later this year and general elections early next year, the government is determined not to leave any possible measure in its efforts to cool prices.
Source-indiatimes.com

Mid-Atlantic Animal Import Center Feasibility Study Released

2008-08-02T10:26:00.000+05:30

The Maryland Department of Agriculture's Maryland Horse Industry Board today released the Mid-Atlantic Animal Import Center Feasibility Study, which identified the Midfield Cargo Complex of the Thurgood Marshall Baltimore Washington International Airport as the best potential site for the Center.

"The time it takes to ship a horse overseas begins from the time that animal leaves the barn to the time it plants its hoof in the soil of its new home. Adding a five to 15 hour van ride on top of the time in flight is not cost effective and causes additional stress on the animals being shipped," said Agriculture Secretary Roger Richardson. "A permanent Mid-Atlantic Animal Import and Export Center could reduce the cost of shipment for horse owners and buyers, and reduce the stress on transported horses thereby increasing the overall condition and productivity of animals shipped overseas."

The study also detailed the process of importing and exporting live equine to and from the United States. Currently, only three permanent centers accept horses for importation in the United States.

The center was deemed feasible if coupled with another entity such as a state laboratory or animal health center. Due to the seasonality of the shipment of horses, with the strongest peaks occurring between the months of December and January operating the facility jointly with another entity could better utilize staff, optimize operations, and create new jobs and economic impact for the region.

The study was funded by a combination of public and private, federal, and state entities, including the USDA through the Federal-State Marketing Improvement Program, the Maryland Department of Agriculture, the Maryland Horse Industry Board, the Maryland Horse Industry Foundation, and the Maryland Department of Business and Economic Development.

The study was conducted by the private firm Owl Creek Consulting of Berlin, Md., in cooperation with the Business, Economic, and Community Outreach Network of the Franklin P. Perdue School of Business at Salisbury University.

Export sector strengthening: Ricketts

2008-08-01T09:59:00.000+05:30

The significance of strengthening the country exports is clearly reflected through the interim Governments creation of new policies to boost the export industry, says interim Minister for Trade and industry, Tom Ricketts.

Interim Government policies such as the National Export Strategy and its continuing emphasis on the private sector development road map and the Fiji Export council are some of the creations.

Mr Ricketts, speaking at the launching of the Fiji Island Trade and Investment Bureau organised 2008 DHL Exporters of the Year Award, said the theme of "Exports Enhancement: The path to economic growth", couldnt have arrived at a better timing when present challengers faced our exporters.

Meanwhile, the interim Finance Minister Mahendra Chaudhry had earlier stated that the exports sector has seen steady growth and the economy is benefiting from its re-exports of mineral fuels given the dramatic increase in the global fuel price.

"Exports for the first 5 months of 2008 totalled $507 million- up 24.2 per cent over the same period in 2007, a much improved performance compared to 2005 and 2006," he said.

Source-fijitimes.com

Tyre industry demands duty-free import

2008-08-01T09:54:00.000+05:30

Kochi: With a serious crunch operating in the availability of natural rubber (NR), the tyre industry has reiterated its demand for duty-free import of 1 lakh tonnes of NR without any further delay.

The tyre industry, that consumes 57 per cent of the natural rubber produced in the country, is facing the worst ever raw material availability crisis. Over the last few days, the availability of sheet rubber has been woefully inadequate to meet the requirement of the industry that is already bearing the brunt of high rubber prices, Rajiv Budhraja, Director General, and Automotive Tyre Manufacturers’ Association, said. Currently, domestic NR prices are ruling at a higher level than even international prices. Natural rubber accounts for 41 per cent of the raw material cost in the tyre industry, he said.

“It has never happened that the very availability of sheet rubber becomes an issue despite the fact that the natural rubber prices have touched a historic high. The average landed price of NR was Rs 134 during July, which is 51 per cent higher than the average price in September last year,” he said.

Anticipating price

Despite the fact that the production of natural rubber has gone up by almost 30 per cent during April-July this year, the industry is facing the crunch. On the contrary, consumption has gone up by only 21 per cent in the said period. It is believed that rubber growers and traders are holding on to the stock in anticipation of further rise in the prices of rubber, he alleged.

“The supply crunch, if continued, is likely to seriously disrupt production schedules of tyre companies. We therefore urge the government for immediate intervention by way of allowing the duty-free import of 1 lakh tonnes of natural rubber to tide over the current crisis,” Budhraja said.

A demand-supply imbalance is unfortunate for a commodity where a fine balance can be achieved if producing and consuming interests work in tandem. The production-consumption gap, which was 49 per cent during April-July 2007, has narrowed down to 22 per cent in April-July 2008.

The industry will, unfortunately, need to look for increased imports if the existing availability crisis does not subside, he added.

Source-sify.com

India's Gems & Jewellery Exports Likely To Grow By 15%-20%

2008-07-31T11:16:00.000+05:30

India's gems and jewellery exports are expected to grow by 15%-20% in the current financial year, according to the Gem and Jewellery Export Promotion Council's-GJEPC estimates, reported the media.

The overall exports of gems and jewellery for the first quarter ended June 30, 2008 rose 22.7% to Rs. 21,602 crores, from Rs.18, 050 crores in the year ago period. The overall exports of cut and polished diamonds was Rs.15, 402 crores for the June quarter, revealing a 31% growth from the comparable period last year. Imports of rough diamonds were up 27.6% at Rs.13, 172 crores.

Data from GJEPC however, showed that trade in cut and polished diamonds has declined 5.5%. This is because the imports of polished diamonds have grown much faster than exports. Gold jewellery exports decreased 4.1% in the first quarter ended June 30, 2008.

The Chairman of GJEPC, Sanjay Kothari reportedly attributed the high commodity prices and global economic slowdown to the sluggish business and said that he expects the international trade show in India would help boost interest, added the report.
Source-rttnews.com

Dubai to Host Diamond & Jewellery Summit

2008-07-31T11:02:00.000+05:30

Dubai Multi Commodities Centre (DMCC) announced Tuesday that it will organise the first Dubai Diamond and Jewellery Summit, with the objective of providing the international jewellery trade with a forum to initiate relationships in the Middle East - the fastest growing market for diamonds.

The inaugural two-day summit will focus on Middle East-China diamond and jewellery trade, and will be held from November 8 - 9, 2008 at the Atlantis Hotel, Palm Jumeirah.

The summit builds on a visit to China by HH Sheikh Mohammed bin Rashid Al Maktoum, vice president and Prime Minister of the UAE and ruler of Dubai, and reinforces ongoing efforts to further strengthen trade relations between both countries. It also follows two strategic agreements signed earlier this year by DMCC with the Government of Panyu, China and with the Gems & Jewellery Trade Association of China, for increased cooperation towards mutual growth and promotion of diamond and jewellery trade.

Diamond trade in the UAE alone witnessed record growth in 2007, crossing the stellar $10 billion mark. Dubai's rough diamond trade alone witnessed a 32 percent growth in the first quarter of 2008 as compared witho 2007, standing at a total of $1.5 billion while polished diamond trade reached $2.7 billion. The Chinese jewellery industry has also achieved record sales in 2007, with a growth of 11 percent compared to 2006, to reach $26 billion.

Ahmed Bin Sulayem, executive chairman, DMCC said: "Emerging economies such as the UAE, Saudi Arabia, Turkey and Egypt are all set to become the centre of the fast-growing jewellery business in the next three years, with Dubai being the natural gateway for the wider region. In fact, the UAE and Hong Kong are among the prominent markets experiencing exponential growth. This summit will focus on the growing business potential between China and the Middle East, two major global trading blocs."

According to Peter Meeus, executive director - Diamonds, DMCC, the summit will serve as a platform for the manufacturing, trading and retail jewellery communities between both countries to mutually grow trade opportunities. He added that the event is poised to further boost the diamond trade industry, promote Dubai as a major diamond hub and present DMCC as the facilitator of the growing diamond trade in the region.

Many businesses in the area of precious metals and colored stones and gems are turning their attention to the Middle East which has become one of the fastest growing consumer markets. This is reflected in the exponential increase of polished diamond imports to Dubai by 69 percent in the first quarter of this year," said Meeus.

Commenting on the opportunities for the diamond industry, Meeus said: "Although diamonds are relatively new in the Chinese and Middle Eastern markets, leading retail jewellery companies have witnessed phenomenal growth in the past decade. DMCC's strategic objective in hosting this summit is to bring these companies together and create opportunities for them to further grow their business."
Source-diamonds.net

Gems & jewellery exports likely to grow by 15-20 pc

2008-07-30T09:48:00.000+05:30

MUMBAI: India's gems and jewellery exports is likely to grow by 15-20 per cent this fiscal, a top industry official said today.

"We are expecting the whole gems and jewellery basket to grow by 15-20 per cent this year with gold export forming the major chunk of total exports," Gems and Jewellery Export Promotion Council (GJEPC) Vice-Chairman Vasant Mehta told reporters here.

Gold jewellery could contribute as much as 25-30 per cent in the total export growth, he said.

India accounts for almost 55-60 per cent of the world's total diamond production and its diamond export has reached an almost saturation point, Mehta said.

"The growth in diamond export is likely to remain in single digit, he said.

Gems and jewellery include cut and polished diamonds, gold jewellery, coloured gem stones among others.

The overall export growth of gems and jewellery has seen a 22.67 per cent jump to USD 5.3 billion in the first quarter of the current fiscal as against USD 4.3 billion in the same quarter, last fiscal.
Source-indiatimes.com

Export ban on steel bars, cement?

2008-07-30T09:42:00.000+05:30

KUALA LUMPUR: Is a temporary ban on export of steel bars and cement on the cards?

It looks like the Government may impose some kind of restrictions to help the construction industry overcome the rising prices of these and other raw materials.

Housing and Local Government Minister Datuk Seri Ong Ka Chuan said he had received lots of requests from developers and contractors that there should be restrictions to control the outflow of essential items.

Ong said his ministry was talking with the Finance Ministry on the matter and was mindful of the fact that priority should be given to meet local demand.

However, for the moment, he felt it would be better to allow the free market system to determine the supply and demand of steel bars and cement, while the Government closely monitors escalating prices and their supplies.

“But if the situation persists, I think the Government has to intervene. We have to make it our priority to the local industries rather than overseas market even if it (the raw material) fetches a better price,” he said.

Ong said this at a press conference after witnessing the signing of a mutual co-operation agreement between I-Bhd and Kompakar Group for the development of a Tier 4 Ready Data Centre in the RM2bil i-City integrated commercial-cum-residential development in Shah Alam.

Meanwhile, the Master Builders Association Malaysia (MBAM) has warned that many medium and small contractors from Class D, E and F may be forced to stop, delay or even abandon projects as a result of the steep price hike of essential building materials.

“The Government should act quickly. If the situation continues to worsen, it should step in and ban export of steel bars and clinkers to ensure building materials manufacturers would supply the needs of the local construction industry first,” said MBAM president Ng Kee Leen.

He said the 10% import tax for cement should be waived as well because contractors and developers were facing great pricing pressure and any form of import tax relief would be appreciated.

Although cement liberalisation was announced on June 5, Ng said the import of cement was still not in place due to logistics.

With liberalisation, cement price had continued to rise from RM10.90 during the government price control period to RM13.20 (22% up) immediately after liberalisation and now another increase by RM1, or 30%, per 50kg bag to RM14.25.

In the case of steel bars, he said, although it was liberalised on May 12, the liberalisation process was not well implemented.

“It was difficult to import steel bars and there are still cases of Customs Department officers demanding for approved permits and/or impose import duty on certain steel bars.

“MBAM hopes the Government would simplify (matters) by making clear the process to import steel bars for local construction use,” he added.

MBAM also requested cement and steel bar manufacturers to provide at least six months' lead time for any announcement on price increase to enable contractors to allocate provisions to mitigate their cost.

Ng said the Lafarge Malayan Cement Bhd's announcement on price increase for cement effective Aug 1 would hurt the construction industry.

Meanwhile, ready-mixed concrete operators in Selangor and Kuala Lumpur yesterday announced revised prices for ready-mixed concrete of various grades by 5.2% to 6.2% effective Aug 1.

Source-thestar.com.my

India FY09 gems, jewellery exports seen up 20 pct

2008-07-29T15:47:00.000+05:30

MUMBAI, July 29 (Reuters) - India's gems and jewellery exports are expected to rise by 15 to 20 percent in the current fiscal year, the top official of an exporters' body said on Tuesday. "Every year it has been growing around that rate... this year also it will grow by 15-20 percent," said Sanjay Kothari, chairman of The Gem & Jewellery Export Promotion Council, at a press meet to announce a trade exhibition next month in Mumbai.

In fiscal 2007-08, net exports of gems and jewellery were at $20.9 billion, data from the Council showed.

Kothari said the global economic slowdown and high inflation would affect the business, but trade shows such as the one next month will "persuade people to increase their spending power." (Reporting by Ruchira Singh; Editing by Harish Nambiar)

Source by in.reuters.com

NDRC considering hike in export tax on coke

2008-07-29T10:08:00.000+05:30

It is reported that China’s National Development and Reform Commission held a foreign trade policy conference on July 22 to discuss import and export policies for some products. NDRC officials solicited opinions from related industry analysts and did not comment on coke export tariff rise.

A senior official from CCIA believes that export tariff on coke would rise in the second half of this year.

Mr Huang Jingan chairman of China Coking Industry Association also attended the conference. Mr Huang said earlier that China may raise export tariff on coke, in view of tight domestic supply and increasing exports.

Mr Gao Hucheng vice minister of Ministry of Commerce also iterated on July 22nd that the country should restricts exports of heavy polluting, energy intensive and resource intensive products.

Banning sugar export, allowing imports can hurt industry, farmers: PSMA

2008-07-29T10:05:00.000+05:30

The government’s decision of banning sugar export and allowing import will destroy the local industry and this will make the farmers prone to become the victims of the sugar-mafia, industry stakeholders told Daily Times Monday.

They lamented that it seems the decision is aimed to provide relief to Indian farmers at the expense of local industry and farmers.

Industry sources observed that the local stocks are already in surplus and there was no need of importing the commodity. They said that the decision would ultimately help the Indian farmers and the local farmers would be at losing end, as the sugar mills have already not paid the farmers for sugarcane.

“When imported sugar will land in the country, the stocks of sugar mills would not be sold and the millers would cut the payments of sugarcane growers,” the sources said. In the past India sent sugar to Afghanistan through transit trade but majority of stocks were dumped illegally in Pakistan. They said that around 200,000 tonnes of sugar landed in Peshawar market and it pushed the sugar industry towards crisis while the payments to sugarcane growers were delayed and in many cases no payment was made to the growers.

Pakistan Sugar Mills Association (PSMA) Vice Chairman, Iskandar M Khan said that the government should have allowed import of raw sugar only, as it would have been more beneficial. “The raw sugar is cheaper in the international market while the refined sugar is expensive,” Khan said. Currently refined sugar costs $400 (freightage cost inclusive) while raw sugar is available for $200 only. He said calculating all the taxes one would find that imported sugar will be prices at Rs 30to Rs 31 per Kg. “There would be no price parity of local and imported sugar but it would create problems for the millers, who already have surplus sugar stocks,” he said.

“The refining of raw sugar also creates employment opportunities while having a downward impact on prices thereby providing much-needed relief for the consumers,” Khan said.

He decried that the decision would have negative impacts on the economy. He accused that India will send its “injurious to health” sugar to Pakistan.

He said that the PSMA has assured the government for selling the sugar at Rs 30 per Kg but no one paid any attention.

Farmers Association Pakistan Coordinator, Muhammad Idrees Khokhar, said that the sugarcane payments of farmers were already delayed and the decision would be a major set back for them. “The government, before taking any decision, should take all the stakeholders into confidence,” he demanded.

Source-dailytimes.com.pk

Indian imports to flood Pak markets New trade policy sets $22.10bn exports target

2008-07-28T18:26:00.000+05:30

The new trade policy sets the export target at $22.10 billion and limits the country’s imports bill to $30 billion as compared with the last year’s $39.97 billion. At the same time, the policy eases restrictions on import of various items from India.

Federal Commerce Minister, Ch Ahmed Mukhtar announcing the trade policy on the state TV said, “Cheaper raw material from India will make Pakistan’s exports more competitive in the international market. The trade policy will allow the import of diesel and fuel oil from India to also help address the growing trade deficit.”

The government has decided to allow the import of machinery or equipment for mining, quarrying and grinding of minerals from India, he said. In the new trade policy, importable items like CNG buses, stainless steel, cotton yarn, academic, scientific and professional books, specialised printers, laminators and rollers would be allowed from India.

The import of these items from India would also help address the trade deficit, said the policy. In order to enhance exports of minerals and rice, the new trade policy will also allow imports of mining and paddy machinery from India.

The minister said if we look at the performance of various export sectors in comparison with the available detailed figures for 11 months from July 2007 to May 2008 during the same period of the previous year, there was an overall increase of $1.755 billion.

The minister had earlier postponed his press briefing scheduled for Saturday on the direction of the prime minister in view of the prime minister’s first TV address to the nation. However, he asked the media men to attend the briefing soon after the PM’s address. Later, briefing the journalists at the Prime Minister Secretariat, the minister emphasized the need for effective measures to arrest the growing gap in trade deficit affecting the economy. He attributed a number of unavoidable factors, which contributed to the deficit gap to rise to $20.7 billion.

“We inherited a very difficult economic situation where the public is facing more hardships than it has in the recent history,” he said. This was due to external and internal factors of the past year, he added. Moreover, the commerce minister said the doubling of international oil prices from around $68 per barrel to $145 per barrel during the year and increase in international prices of food items Pakistan needed to import during the year, especially wheat and edible oil, enhanced the import bill.

“The total imports during the year 2007-08 amounted to $39.97 billion, raising the trade deficit of $20.7 billion”, he added. He emphasised the need for promotion of regional trade, which according to him, was the only way to reduce freight and trade deficit.

The new trade policy for 2008-09 enlarges the list of importable items from India, which is based on the requests of stakeholders. The list will be issued separately later. About giving Most Favour Nation (MFN) status to India, he said it did not suit Pakistan as India had technical and other trade barriers whereas Pakistan did not have such restrictions.

When asked about R&D scheme for textile, the minister who also has additional charge of commerce & textile ministries said that he would hold a meeting with the prime minister today (Saturday) and hopefully, the issue would be settled.

Imports measures: To any Indian manufacturer of CNG buses who makes a firm commitment to establish manufacturing unit of such buses in Pakistan, the commerce ministry may provide special dispensation for import of 10 buses by road via Wagah from each possible investor as test consignment.

Under TR scheme, import of buses not more than 10 years old are allowed. This facility will help the returning overseas Pakistanis with limited means to create an economic opportunity for themselves as well as ease the shortage of such buses on inter-city routes.

Imports of used cryogenic containers/cylinders by industrial consumers, cement trailers, without prime movers in second-hand/used condition, prime movers with age limit of 5 yeas and minimum fleet requirement of 5 prime movers were also allowed.

In order to reduce the cost of raw material imports and thereby make the country’s indigenous export products more competitive, the import of job lots and stock lots of raw material, which attracts duty up to 5pc would now be allowed.

Similarly, imports of old/used waste disposal trucks of municipal bodies (the imported trucks shall not be older than 10 years) will also be allowed. Stainless steel and cotton yarn is importable from India by train. In order to further reduce the cost of doing business, it has been decided to allow their import by trucks through Wagah as well.

Import of academic, scientific and reference books, specialised printers, laminators and laminator rolls used for printing visa stickers and passports by Nadra would be allowed from India. Only recognised manufacturers would be allowed to import crude palm oil for further processing and refining. Furthermore, manufacturers who import palm oil in crude form will not be allowed to sell it to non-manufacturers. However, commercial importers who have invested in large bulk storages will be allowed to continue importing crude palm oil subject to a safeguard mechanism to be drawn up by FBR.

Import of CFC-based compressors remains banned. The imports of rollers would be allowed, but not more than 10 years old, and the capacity should not exceed 12 tons. Export measures: As export enhancing measures, the new trade policy suggests the intensification of market intelligence, trade promotion, enhancing competitiveness, coordination with other public departments, improving physical infrastructure, discouraging subsidies, diversification and encouraging quality.

Plant, machinery and equipment imported to set up a unit in DTRE scheme will be exempt from duty and taxes. Import of inputs for DTRE will also be allowed from India, even if these are not included in the importable items from India, or manufactured locally.

To increase the exports of gem and jewellery and to encourage investment and remove all anti-export biases, gold, silver, platinum, palladium, diamond and precious stones would be exempted from levy of customs duties and sales tax.

Exporters are allowed to send $25,000 worth of samples to foreign buyers. Since automobiles have higher unit value therefore it has now been decided to increase the limit to $50,000 in the case of automobiles.

The TDAP with its revamping would also establish new clusters of surgical instruments, gloves and personal protective equipment, sports wear, leather & leather products in Sialkot and Charsadda, weaving and textile processing sector in Faisalabad, light engineering sector in Gujranwala, auto parts in Lahore, ceramics in Multan and Halla, ajrak and bangles in Hyderabad/Halla and embroidery in Balochistan.

APP adds: Earlier, the federal cabinet in a special meeting with Prime Minister Syed Yousuf Raza Gilani in chair approved the Export Policy 2008-09 emphasising increase in country’s exports.

The cabinet also approved in principle the establishment of NFC University of Engineering and Technology in Multan to cater for ever-increasing demand for higher education of students of Southern Punjab.

The prime minister had announced the up-gradation of the Institute of Engineering and Technology Multan in May. Presently the Institute of Engineering and Technology Multan is affiliated with Bahauddin Zakriya University and is conducting B.Sc courses in the disciplines of Chemical Engineering and Computer Engineering. The Higher Education Commission recommended the up-gradation of the institute to the status of university level as a degree awarding institution.

Source-paktribune.com

First Ever International Jewellery Fair in South India Comes to an End on a High Note

2008-07-28T18:21:00.000+05:30

HYDERABAD, India, July 28, 2008 /PRNewswire via COMTEX/ ----The curtains finally came down on the much awaited Hyderabad Jewellery, Pearl & Gem Fair 2008 organised by CMP, which brought to an end 4 days of intense business interactions between exhibitors, trade visitors and buyers, both from India and overseas. 10,223 visitors attended the exhibition from throughout India.

(Photo: http://www.newscom.com/cgi-bin/prnh/20080728/NYM067 )

The Hyderabad Jewellery, Pearl & Gem Fair 2008 was inaugurated on Thursday, 24 July by the Hon'ble Dr. (Mrs.) J Geeta Reddy, Minister for Major Industries, Govt. of Andhra Pradesh. Speaking to the presspersons after the inauguration she said the fair would provide an opportunity to entrepreneurs to learn about the global trends of the industry. She added that the state government was setting up an exclusive jewellery mall in Banjara Hills, Hyderabad with all modern amenities and requested the industry players to utilize this opportunity.

Leading exhibitors from India and overseas showcased the most exquisite fine finished jewellery, pearls, diamonds, gems and other precious stones at the HITEX Exhibition Centre. A vast range of international designs were on display at the fair including diamonds from Antwerp and diamond-studded jewellery from Thailand & Hong Kong. A jewellery encrusted car from an overseas exhibitor was a special attraction with crowds thronging to catch a glimpse of it. Another overseas exhibitor displaying wellness jewelry had such a fantastic response that they had booked all products on display and were only very happy to book further orders.

The first two days saw a steady stream of trade visitors and High Net Worth Individual's who were keen to know about the latest designs in fine jewellery crafted out of the finest diamonds, pearls, gold, gems, precious and semi precious stones. All the major Jewellery Associations from South India were there in full strength with their member delegations in large numbers and they were very impressed with the wide variety of jewellery on display, both form India and overseas. These delegations were very well received by the exhibitors who ensured that the delegations spent their time fruitfully.

Over the next 2 days, visitors came in large numbers and were very excited and impressed with the innumerable choices and a wide range of designer jewellery in fascinating styles that were on display at a single location. By the end of the closing day, many exhibitors went home with good business done and were very optimistic that the contacts made at the fair will translate into firm business deals. Cine and other celebrities also added sparkle to HJF'08 and left with lasting impressions of the high quality and wide variety of jewellery on display at the fair.

Speaking on the occasion, Mr. M. Gandhi, Managing Director of CMP India, the organisers, said, "We definitely intend to make this an annual feature. Our intentions are very much to have a longstanding relationship with the jewellery fraternity here in India."

On day two, an evening of jewellery and beauty dazzled exhibitors and select invitees at a glittering fashion show at the HICC Convention Centre.

CMP organized HJF'08 with the support of the Twin Cities Jewellers Association, Hitech City Jewellery Manufacturers Association and A.P. Gold, Silver, Jewellery & Diamond Merchants Association and the Jewellery Manufacturers Association - Kerala.

Quotes from Exhibitors & Visitors

"This is the first time we are in South India. The response over the last four days has been fantastic. Customers here are well-informed and knowledgeable about diamonds and we are happy with the response we have had to our product line. We are sure that the business contacts we have made over the last 4 days will yield excellent business. We look forward to once again coming back next year." Smart Arts, Exhibitor from Thailand

"The visitor attendance has been overwhelming. The quality of visitors has been excellent and we have been able to establish contact with a lot of highly potential trade visitors from all over the country. We are sure that this will translate into meaningful business. Our sincere thanks and appreciation to CMP, the organizers, for putting together an excellent Show. Your credentials as a global leader in Jewellery fairs stands vindicated with the super success of HJF 2008. Keep up the good work!!!" Inder Prakash Agarwal, Proprietor, Ram Prasad & Sons, Exhibitor.

"Very impressed with the vast array of jewellery on display at the fair. Was happy to see for the first time a number of international jewellery houses showcasing their products in South India". Mr. Appa Rao, Jewellery Merchant Trichur

"Was happy for the opportunity to interact with an excellent cross section of jewellery manufacturers from both India and abroad. Closed some fruitful transactions and made a large number of networking contacts". R.K Raj, Jeweller, Bangalore

About CMP India

CMP India, a part of CMP Asia, is owned by United Business Media Limited, one of the world's leading global business information companies. The company's businesses include trade exhibitions across various sectors such as pharmaceuticals, food ingredients, hospitality, security, jewellery & technology sectors, conferences, online technology & print brands, health care communications and news distribution. Globally this translates into more than 200 newspapers, magazines and directories, 200 websites and 300 events around the world.

SOURCE CMP India

International Company MouraStarr Leads the World Luxury Furniture Industry: Now with New Showrooms in New York, Los Angeles and Jeddah, Saudi Arabia

2008-07-26T17:36:00.000+05:30

MouraStarr didn't set out to be a sustainable company. We set out to be conscientious and respectful, and we evolved into a 100% sustainable company. Long before "being green" was trendy, MouraStarr created furniture with integrity, solid design principles, and knowledgeable engineering. By respecting nature and our limited natural resources, by making a product that is meant to last for generations, by creating classic designs you'll love for the rest of your life, by creating over three hundred, one of a kind pieces from a single fallen tree, MouraStarr evolved into one of the most sustainable luxury furniture companies in the world.

In contrast to today's throwaway economy, MouraStarr never wastes precious resources. We use only the resources that we are allowed to use, while always using the best and most beautiful natural materials possible. Our ability to work with specialized materials sets us apart from other manufacturers. For example, when we use lacquer, we are certified to perform a method in our factory that allows us to recycle every single chemical, so that pure water is returned and the chemicals are reused.

MouraStarr is a design company and manufacturer, not just a showroom of products made by other companies. Our collection of three hundred pieces can be drawn on to furnish every room in your house. And even though we have over 300 original designs, each one that is produced is unique do to the natural differences in the materials that we use or our client chooses, and because of the options that buyer's have to choose from regarding different woods, leathers, lacquers, lacquered crystals and other materials to customize their piece.

So much thought goes into every single prototype, all the intricate moving parts, the detailing of the bevel on each piece of crystal to avoid chipping, how each individual wood grain will actually read on a particular design, to the carbon steel tubing that runs through a dining table to give it is strength and power.

Every piece of furniture from MouraStarr is 100% designed and produced in our state of the art factory. And while we have a recognizable design aesthetic, we specialize in diversification. Our creativity is never limited by physical constraints. Our understanding of engineering is so powerful that nothing we can imagine is impossible.

In the meantime, let us tease you with our Iguatemi Coffee Table, made of imbuia wood, a tree that is 300 years old and requires very special machines just to cut and shade the logs, due to the density of the wood. Contrasting these gorgeous rustic logs are, sleek contemporary diamond guard crystal top.

Or notice the Tao Dining Table, sleek contemporary, bold, edgy, very architectural, unique and undefiably MouraStarr, yet perfectly at home in a classic Cape Cod cottage.

The Ramses Dining Table is classic, with a simple design that is easy to work in any environment, or it can be extremely contemporary because of its clean and simple lines. One Rameses dining table found a home in Vermont in a building that was once a barn.

The Kromus Home Theatre Cabinet fascinates one with all its moving elements, different modular units all working together. Sliding panels move to hide or reveal your electronic equipment, making a seamless connection between the elegant cabinet and your high quality home theatre components.

The Curio Cinema is flanked by two modules of rustic imbuia wood, juxtaposed with finely polished lacquer; so shiny it looks like crystal. The contrast highlights the beautiful natural grain of the wood (never stained) - valued even more because it's a natural limited resource, certified for our use by the government.

The wood pieces radiate with the lush, pure beauty of the specialized materials from which they are made: imbuia, scuipira, acai and cabreuva woods, each with its own individual and distinctive colors and grains. But even within the wood from a single tree, there are different tones and colors. No two pieces will ever be exactly the same. And none of the woods are every stained.

Custom-created, MouraStarr furniture is created with transition in mind. Just by changing materials, you get a completely different feel. Set your dining room with classic China one night, modern glass the next afternoon and it will always look like it was meant to be. Our designers always create with the idea of just how many different things a piece can be. And because we keep our lines very linear, clean and classic, our designs never go out of style. It's one thing to build something that's sustainable; it's another thing to be sustainable in your life. MouraStarr means timeless design you never grow tired of, never outgrow. Transitional means that every piece will be different yet mix beautifully. Change the wood, and you have an entirely different piece. And every piece has the individuality that comes with working with natural, unstained wood.

Transitional also means that we can create a diversity of styles and feels. From sleek and powerful, to raw and strong, from clean and classic, to dynamic and futuristic, all is possible within the MouraStarr portfolio. We work with you to find what's right for your home, for your life.

Moura Starr is an international furniture design and manufacturing company doing business in the US and around the world. Our luxury home furnishings can be viewed in our showrooms located in New York, Los Angeles, San Paulo and in Jeddah, Saudi Arabia or online at www.mourastarr.com.

The new Los Angeles Showroom is re-opening in a vast 11K square ft location on Fifth Floor of the PDC in the Blue Building. The exclusive showroom, open only to the trade, expresses the MouraStarr style with its use of luxurious construction and interior design materials: white porcelain floors, rich wood paneling, bright steel details, rich silks and linens, and exquisite leather walls, all of which will evoke the identity of MouraStarr. The showroom will highlight the diversity of the line - and it's applicability in many different styles of homes from traditional to ultra modern. Even 11K sq ft will not be enough to show the entire line, which will rotate every four months. The Los Angeles showroom is located at 8687 Melrose Ave. The phone number is 310-854-9100. The showroom is open Monday-Friday from 9AM to 5PM.

MouraStarr will continue to set new standards for the industry with the opening of its new showroom in Jeddah, Saudi Arabia. Founder Shelley Starr said, "We have a tremendous amount of international business throughout regions such as the Middle East, Europe, Russia and Asia. Jeddah happens to be the first of several places we are to open internationally, and this decision was based off of consumer requests." From here we plan to open in Dubai and Russia in the coming year. "Our company is unique in that it is completely vertical, which affords us the ability to control all of its aspects from the design, to the manufacturing, to the logistics of all our international shipments to our clients around the world, as well as to our final destination of the MouraStarr showrooms." The Jeddah Showroom is located at #6 Alghadi Plaza, Prince Sultan Street, P.O. Box 2529 Jeddah, 21461, Saudi Arabia, Tel: +96626980498, Fax: +96626980385 The showroom is open Monday-Saturday 9:30AM to PM. For more information, visit www.mourastarr.com.

The New York showroom which has only recently completed its expansion of adding an additional 5K square ft to its original 5,400 square ft, now totally an impressive 10,400 square ft and a complete face lift in the beautiful Soho district of Manhattan, which is located at 121 Wooster Street. The phone number is 212-219-1110. The showroom is open Monday-Friday from 10AM to 6:30PM and on Saturday from 11AM-7PM. For more information, visit www.mourastarr.com.

MouraStarr is the passionate work of the creative team Shelley B Starr and Graca Kazan, a trained interior designer, and Luiz Mario Moura, a sophisticated engineer and architect. All Moura Starr products are created in their newly complete 333,000 square ft. eco-friendly factory that has been awarded multiple green certifications.

The company has spent 14 years building a rock solid foundation from its factory to its import/export companies, to its showrooms to launch its product to the world. Moura Starr is the first of its kind to be so design driven, completely focused on their factory that is 100% green and all products being 100% sustainable. Moura Starr is the future of what businesses are striving for and a leader in setting new standards in the design and manufacturing of furniture.

Source-24-7pressrelease.com

Car, component exports accelerate

2008-07-26T17:34:00.000+05:30

South African car exports this year are expected to increase by 50% more than last year, with the component production for locally produced vehicles increasing in tandem, National Association of Automotive Components and Allied Manufacturer's (Naacam's) Executive Director, Roger Pitot tells Engineering News.

"Local car manufacturers like Toyota are growing their export programmes, and Mercedes Benz is increasing its C-class exports this year, enabling this growth in the automotive component sector. This is in the face of the local market showing a downward trend," he comments.

"The challenge is to remain competitive in the export market, because every year the Motor Industry Development Programme (MIDP) incentives are decreasing. The challenge to remain globally competitive is increasing, with countries like China and India making huge strides in the production quality, and thus taking their place in the automotive components industry."

Pitot says that there have been significant changes since the MIDP was established. "The MIDP was introduced in 1995, prior to which the automotive industry was very protected. When the markets were opened, with the advent of democracy in 1994, the industry had to compete in an open, global market, without many of the previous protections."

Put simply, the MIDP is an import/export complementation arrangement, whereby the local content value of components or built-up vehicles exported, earn credits that can be used to rebate import duties on components and vehicles. The arrangement is due to come to an end in 2012.

However, the industry is still facing significant cost-pressures, and this is not helping its global competitiveness.

Pitot explains that power cutbacks, power price hikes and fuel price hikes are all affecting the global competitiveness of the local automotive industry. "Naacam members are supplying parts to the original equipment manufacturers (OEMs) and they have to meet set target prices.

To be competitive on the global scale the local set-up has to be conducive to global pricing. In South Africa the infrastructure costs penalise the manufacturers and port costs are also very high. Cargo dues have to be paid on all imports and exports, and South Africa is the only country in the world that has this penalty payment. This makes it the most expensive automotive port in the world."

Another challenge to cost competitiveness is South Africa's inefficient and congested rail and road transport systems. Many of the road links, like the corridor between Gauteng and the Eastern Cape, are underdeveloped. Pitot states that a lot of money has to be spent on upgrading this infrastructure, which is essential for the transportation of goods within the industry, as well as to ports for export.

In addition to the problems above, Pitot says that South Africa's automotive industry suffers at the hands of monopolistic raw material suppliers. "Local prices are just one or two percent lower than the import prices, including duty and transport."

Another problem the local industry is encountering is the country-wide demand for wage increases. The industry has a three-year wage agreement with the unions that was negotiated in 2007. Pitot says that it remains to be seen if the unions will be honouring this agreement. "From a humane point of view it will be understandable if the workers say that they have a problem surviving in the face of the rising inflation, but we cannot afford the cost penalty."

Pitot believes that growth in the industry depends on the MIDP announcement in August. "The industry has been liaising with the Department of Trade and Industry (DTI) and its task team for a while now, and is reaching the final stages. The industry has pointed out the shortcomings of the MIDP programme, and has indicated what the industry believes is required for the future.

What is required is a discretionary incentive investment package that is globally competitive. I think the government is beginning to understand this better," he says. "Local manufacturers also have to look at reducing costs by becoming more efficient, less energy reliant, and find other innovative ways to reduce costs to remain competitive."

International exposure

Building on previous successes in other international exhibitions, Naacam set up its first national pavilion at the Automechnika in Dubai, in early June to help its members stay globally competitive, and to grow awareness of the South African automotive industry internationally. The association plans to make this an annual event.

Pitot reports that nine South African companies exhibited at the show this year, and were happy with the exposure, especially to the fast growing, lucrative Middle Eastern market.

In October Naacam will take a trade delegation to China to promote some South Africa's products there. This is all part of a drive to inform other countries and expose the automotive industry to the world. "A lot of the world is not even aware that South Africa makes cars," says Pitot.

In preparation for the Automechnika in Frankfurt this September, Naacam has already sent out 800 of its directories, to advertise and expose the South African automotive component industry. This is apart from the directories the association plans to hand out at the show itself.

Pitot adds that, 'Naacam has also endorsed and is fully behind South African Automotive Week (Saaw) in October 2009. The association understands the expected significant benefits this will bring to South Africa's automotive component industry. To this end Naacam has recommended its members participation and has also scheduled its annual general meeting during Saaw."

Lags

Locally Naacam has started an initiative called the Local Action Groups (Lags). There are a number of Lags in Gauteng, the North West and the Eastern Cape. The first meetings were held in September last year and the first groups were formed from these meetings.

Lags is a clustering process, where a few companies who share geographical proximity, are clustered together to share skills development, training opportunities and HIV/Aids awareness.

A local partnership that Naacam's head office, with members in its proximity, has fostered is with the Ekurhuleni Metropolitan Municipality, on the issue of HIV/Aids. This partnership has helped members become aware of what is available in the area for awareness training, counselling and treatment, who is responsible for the clinics and if there are problems, whom to contact. In this way HIV/Aids awareness can be carried out at a town or regional level.

Other local issues where working together as a group will help decrease costs, time and efforts and where non-production materials, like protective clothing or photo copy paper, can be bought through this buying collaborative or Lags.

To build the power of Naacam's members as a buying collaborative, the association has signed up with international company Quadrem. Quadrem supports the collaborative purchasing process of industries with similar interests through the use of the internet, to facilitate cost saving initiatives at a national level. "This means a pooling of the buying power of over 200 companies, which employs over 50 000 people," adds Pitot.

Quadrem is in the processing of gathering data from Naacam's members to ascertain what their requirements are. The internet-based system will enable members to go online and access a choice of three companies that Quadrem has researched, and found to have the most competitive pricing, from which to make purchases. One of the three choices would be a highly rated black economic empowerment company.

Source-engineeringnews.co.za

Import tax concession on Ceylon tea likely to continue despite tax hike-The Daily News

2008-07-25T17:06:00.000+05:30

Ceylon tea exports to India under the India-Sri Lanka Free Trade Agreement are likely to continue to enjoy a concessionary import duty, Forbes and Walker Tea Brokers said, quoting a Tea Board communique.

It is projected that Ceylon tea exports to India under the free trade pact will enjoy a concessionary import duty of 7.5 per cent for the allocated quota of 15 million kilos a year, they said. The Government of India has increased the import duty on tea from 35 per cent to 70 per cent in the budget proposals for 2000/2001 presented to the Indian parliament last month.

Accordingly the Finance Ministry in India announced on March 1 that the import duty on tea among some other items have been hiked from 35 per cent to 70 per cent with immediate effect.

Moreover the Finance Minister of India also announced the raising of the investment limit qualifying for tax exemptions for the tea industry (development allowance on profits) from 20 per cent to 40 per cent. This additional allowance will be used only for re-plantation, rejuvenation and modernisation of tea plantations as well as processing facilities.

According to the agreement with the World Trade Organisation (WTO) India was compelled to lift the restrictions of tea imports to its domestic market from March 1. Therefore the Finance Minister of India Yaswant Singha has formulated a protective measure to domestic tea producers by raising the import duty on tea from 35% to 70%.

Source : www.teainfo.ru

Market Access Initiative Scheme to promote exports

2008-07-21T16:53:00.000+05:30

The Cabinet Committee on Economic Affairs (CCEA) cleared proposed amendments to the Market Access Initiative (MAI) Scheme to enhance its scope and effectiveness. The MAI Scheme is implemented by the Commerce & Industry Ministry (Department of Commerce) to act as a catalyst to promote India’s exports on a sustained basis.

The existing scheme was formulated on focussed product -- focussed country approach to evolve specific strategy for specific market and specific product.

Financial assistance under the existing Scheme is provided to export or trade promotion organisations / exporters etc. for enhancing India’s exports through accessing new markets or through increasing the share in the existing markets. Financial assistance is also provided under the scheme for various activities such as participation in trade fairs abroad, opening of showrooms and warehouses etc.

Based on the feedback and suggestions received from all the stakeholders, the MAI scheme is now amended to include the following:

i) The scope of the scheme is being widened by allowing, inter-alia, the following additional activities to be eligible for financial assistance under the scheme: (a) Organising “Trade Festival of India” in select centres abroad to promote “Brand India” by showcasing India’s strength in services like health (Ayurveda and Yoga), Indian cuisine, tourism, culture etc., besides merchandise; (b) Capacity building and imparting training, upgradation / improvement of laboratories, universities, research institutions etc. for fulfilling sanitary & phyto-sanitary (SPS) measures; (c) Providing assistance for all trade related studies including Free Trade Agreement (FTA) / Regional Trade Agreement (RTA) etc.; and (d) Developing foreign trade facilitation web portal as well as to support cottage and handicraft units.

Source : fibre2fashion.com

Increase in rupee value may decrease exports

2008-07-21T16:51:00.000+05:30

The recent appreciation of rupee by 9 percent between August 2006 and April 2007 is affecting Indian exporters severely.

With cheaper US dollar, it is feared that the imports are going to increase. Currently imports are on the higher side with 35 percent while exports have registered a growth of 22 percent.

This trade deficit will put pressure on foreign exchange earnings. In this situation, exporters are withdrawing from entering new contracts as the booming retail sector seems an easy option.

Federation of Indian Exporters Organization President Ganesh K Gupta was concerned with this situation and expressed hope that Commerce and Industry Minister Kamal Nath would address exporters' cry in Foreign Trade policy while the Reserve Bank of India would look into the issue in the forthcoming credit policy.

Source : fibre2fashion.com

Steps to eliminate child labour from export-oriented industries

2008-07-21T16:49:00.000+05:30

Government has taken a series of steps for elimination of child labour from export oriented industries.

This includes various measures taken by the export promotion councils to eliminate use of child labour and also the awareness and monitoring programmes conducted by the Export Promotion Councils for the purpose.

Government of India has taken up this issue of use of child labour in the export-orinted industries with all the Indian Embassies/High Commissions abroad to sensitize them on the issue of child labour and their possible impact.

Government has also taken up this matter with various trade councils to ensure that no child labour is employed by the member exporters.

Further, the steps taken by the Government in the carpet sector also include regular surveillance on child labour undertaken by a professional agency, setting up of National Level Steering Committee, formulation of a code of conduct for the various Carpet Export Promotion Councils to ensure that no child labour prohibited by law is employed.

For the rehabilitation of children withdrawn from hazardous work including the export-oriented industries, Government is also implementing the National Child Labour Project (NCLP) Scheme in 250 districts of the country which include the areas form where exports are being made from the country.

Action under the Child Labour (Prohibition & Regulation) Act, 1986 is initiated against the employers who are found to beviolating the provisions of the Act.

This information was given by the Minister of State (Independent Charge) of the Ministry of Labour and Employment, Shri Oscar Fernandes in a written reply in the Rajya Sabha.

Source : fibre2fashion.com

EU to Scrap Many Farm Import, Export Licences

2008-07-21T16:48:00.000+05:30

As part of its drive to simplify the Common Agricultural Policy (CAP), many of the licences required for commodity import and export will be abolished, or at least brought into line with a single set of rules, the European Commission said on Thursday. EU licences are now needed to import around 500 commodity products, a number that will be cut to 65 as of July 1. For cereals, for example, the number of products for which an import licence is required will be reduced from 133 to 21, it said.

From August, wine traders will be allowed to import any wine product permitted under EU regulations without a licence. At the moment, around 100 wine products must have import licences.

For exports, only 43 products will have to be accompanied by a licence. Export certificates for cereals will apply for just nine products, compared with 133 products now.

The EU licensing obligation would also be abolished for imports paid at full duty in the beef, veal and dairy sectors. But licences would continue to apply to some products imported under preferential trade terms, the Commission said.

"Operators will no longer have to apply for licences and deposit costly securities, and national authorities will no longer need to process them, thereby saving time and reducing costs," the Commission said in a statement.

"Many traders, importers and exporters will no longer need to apply for and subsequently manage licences at all -- those that do so will have fewer licences to deal with," it said.

Using licences allowed the Commission to carry out detailed monitoring of trade in often sensitive product areas and made it easier to anticipate trade developments.

Licences also allowed EU regulators to manage farm trade measures such as tariff quotas and export refunds, the statement said.

Last year, EU ministers agreed to strip dozens of layers of red tape from the CAP to simplify the lives of farmers producing everything from poultry, eggs and cereals to potatoes.

Much of EU bureaucracy was sliced through, with around 40 different regulations covering 21 commodity policy areas being replaced with just one framework law.

Source : flex-news-food.com

First ever International jewellery fair of South India in Hyderabad

2008-07-17T17:04:00.000+05:30

There's excitement in the air as the Hyderabad Jewellery, Pearl & Gem Fair 08,(HJF) comes to Hyderabad. If you are wondering what the buzz is all about, this will be the first ever largest international Jewellery fair in South India and will bring the best of Indian and International Jewellery under one roof.

Over 150 exhibitors occupying 250 booths are spread over 10000 sqmtrs, of show floor. HJF has special group pavilions from Thailand and Hong Kong.

Apart from India over all HJF has confirmed participation from 15 countries and regions including Taiwan, Italy, Burma, Japan, Belgium, Israel, Turkey, Belgium, and Middle East.

"South India is not only the country's major consumer market for Jewellery of all types but also a major manufacturer of Jewellery and a Gem and Pearl processing and trading centre, with long-established national and international centers.

HJF'08 also aims to provide an international platform for buyers and sellers of fine jewellery, pearls, diamonds, gems and other precious materials to meet at the peak of the buying cycle of the festive season," says M. Gandhi, Managing Director, CMP India (UBM India) the organizer of HJF '08.

When it comes to fine jewellery in South India, Hyderabad is one of the first cities to come to the mind. And for good reason, the exquisite Nizam's jewels rank amongst the world's finest.

The city is also known for its rich craftsmanship and rare and exquisite gemstone and pearl Jewellery. Some of the world's most famous diamonds like the Kohinoor, Regent and Hope are from Andhra Pradesh.

South India is the biggest jewellery market in the country and Hyderabad with its infrastructure and facilities is the ideal location for the Hyderabad Jewellery, Pearl & Gem Fair, (HJF'08).

The exhibition is scheduled from the 24th to 27th July, 2008 at the HITEX Exhibition Centre. It will coincide with the onset of the festive season and is bound to attract thousands of visitors from India and overseas.

What makes HJF'08 unique is that it will be both a B2B as well as a B2C event and will cater to both the targets. It will function as an international trading platform which will facilitate domestic and overseas jewellery, diamond, pearl and gemstone suppliers to meet key buyers and open up new vistas of opportunities.

The show will offer an opportunity to view a large range of jewellery from India and overseas right here in south of India. An international delegation from China and various countries are already confirmed to visit the event.

Besides the domestic jewellery associations, have also confirmed their member are planning to visit the event in large numbers to strike suitable business partnerships.

For the consumer, this will be an opportunity to discover a whole new world of designer jewellery in fascinating designs and styles like never before. They will be able to pick world class jewellery showcased in a luxurious setting where they can shop in comfort.

Source by fibre2fashion

Wal-Mart Offers Green Gold, Launches 'Traceable' Fine Jewelry

2008-07-17T16:56:00.000+05:30

Looks like the marketing road from relative political obscurity to mainstream America is shorter than ever: Wal-Mart says it is launching Love, Earth jewelry-a line of "completely traceable" silver and gold fine jewelry. The products, which will be sold both at Wal-Mart and Sam's Club, allow customers to go online and enter a batch number, tracing the path of their jewelry from places like Peru, the Dominican Republic, Bolivia and Switzerland right through to their local store, exploring the "chain of custody" at each step. The line is produced in partnership with Conservation International and the retailer's supply chain partners.

Wal-Mart says it plans to expand the number of approved mining and manufacturing suppliers, and to add diamonds to the Love, Earth line. It also says the new line is its first step in making sure all the gold, silver and diamonds it sells "come from mines and manufacturers that meet Wal-Mart's sustainability standards and criteria." The Bentonville, Ark.-based retailer says it plans to have at least 10% of its jewelry products reach that standard by 2010.

With the tagline "Protecting our planet. Supporting our communities," The Earth, Love line is pitched as an environmental play--right down to the Tree of Life pendants and the Earth-Mothery Web site--and specifically addresses concerns about sustainability practices, an area that has shown an increasing amount of appeal for Wal-Mart shoppers. But by raising the issue of community, it also takes the retailer into relatively new territory: Social and political questions.

Fair-labor practices are a major issue in the mining industry. And the addition of diamonds to the line will also bring up the question of "conflict" or "blood" diamonds, those gems that are mined in a war zone and sold to finance war efforts.

The World Diamond Council says that African nations produce about $8.5 billion worth of diamonds each year--about 65% of the world's supply. The industry has greatly stepped up its efforts to police the source of diamonds--and claims that 99% of the world's diamonds are from sources free of conflict. But some activist groups say that isn't enough, and estimate that conflict diamonds have resulted in 3.7 million deaths in Angola, the Democratic Republic of the Congo, Liberia, and Sierra Leone.

Source by mediapost.com

Jewel Art recognised with Emerging India Award

2008-07-15T17:54:00.001+05:30

Diamond company Jewel Art, a subsidiary of DTC sightholder Asian Star, has been honoured with the CNBC–TV 18 Emerging India Award. It won this recognition in the category of gems and jewellery category, through the hands of steel baron Lakshmi Mittal, on July 8 in London.

The awards for the year were based on the theme 'Think Global Go Global', and recognised those Indian small and medium enterprises, which have business practices on par with global standards.

Jewel Art is based at SEEPZ, Mumbai, the hub of diamond companies in India. It specifically caters to the diamond jewellery demands of international markets – tapping so far US, Europe, South East Asia, Australia & the Middle East.