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

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

Trade Europe Global: Providing Buyers with Import-Export Goods

If you are in search of a B2B market place within Europe which sells a wide array of product selections, the best site to check out is Trade Europe Global. This is an open market which provides its buyers with thousands of product choices. The items that are sold at Trade Europe Global are not limited to household items or office supplies. If you are looking for machineries, you can find these at the market. You can also choose to purchase livestock, agricultural products, and electrical appliances here. If you are searching for a property or a home, you can look into the real estate category of the site. On the other hand, you can also opt to avail of the services that are being offered by the sellers and suppliers of Trade Europe Global.

Considered as Europe’s largest B2B market place, Trade Europe Global offers its consumers with a wide range of product categories. Under these categories are several products which are supplied by local and foreign suppliers. Some of these suppliers come from countries like China, Malaysia, Germany, Italy, and India. Because of the huge number of manufacturers and companies selling their products and services at Trade Europe Global, you can expect to take a pick from thousands of different items.

Trade Europe Global is a Europe import export market place. This is where you can find products which come from various parts of the world. When you are interested in items from India, you can go for brass or wooden phones. Or else, you can opt for the country’s candlestick telephones. On the other hand, a supplier from China offers buyers with sealant products which are derived from an organic silicon’s macromolecule polymer. These sealants are available in 3 different types which are the super sealant, the acidity sealant, and the neutral sealant which is fit for weather proofing. European manufacturers are also offering their own products here at Trade Europe Global. One best-selling product of the market which has been manufactured by a European country is the Rolls Royce from Germany.

If you are not particular with the manufacturer of a certain product, you can choose from specific categories such as apparels and accessories or outdoor and home furniture. When you go for the former, your choices include sleepwear and robes. You can also purchase outdoor garments like shorts, skirts, and trousers. Dresses, tops, and shirts are also available. On the other hand, you can buy lingerie and underwear. You can also find footwear at Trade Europe Global. If you are into jewelries and accessories, there are several options for you. When you are thinking of sewing draperies and curtains, you can buy textile at this market.

If you want to buy outdoor and home furniture, your choices involve sets which are made from plastic, metal, and wood. You can purchase tables, chairs, and accessories for your furniture. These might include throw pillows, cushions, and divans. Other than furniture sets for your lawn and home, this European market place also offers its buyers with office furniture. If you are looking for items for your office, you might want to throw in some supplies, too. Trade Europe Global also sells stationery, office papers, instruments for writing and drawing, presentation equipments, and other supplies for office or business use.

Source : jeromesimpson.wordpress.com

Using Online B2b Marketplaces To Expand Your Importexport Business

The international trade business is growing increasingly popular. Innovative new technology and improved foreign relations have changed the manner in which companies operate and market their businesses. Importing and exporting is easier and more effective than ever before. Almost any imaginable product can now be sent or received from countries spanning the entire globe.

Online B2B Marketplaces
One of the main reasons for the change in the import/export industry is the increase in the number of worldwide individuals using computers. Many more individuals and companies now enjoy regular access to the internet. Consequently, advanced online marketing techniques are continuously being created to address the current needs of consumers and retailers worldwide.

Online business-to-business (B2B) marketplaces are becoming much more prevalent. E-commerce allows international trade companies to expand much faster and locate a wider variety of wholesale products than using traditional methods. Basically, if you have a product you wish to find or sell, there is most likely an individual or company who is more than willing to help.

Advantages
Websites such as Import-Export-Guide facilitate the process by providing online B2B marketplaces for wholesalers, distributors, manufacturers, buyers and suppliers alike. Online B2B marketplaces bring all of these people together in one virtual place so they can quickly and easily locate the exact items they require. No valuable time is wasted driving to different companies, visiting various wholesale suppliers or making long-distance phone calls. Online B2B marketplaces are open 24/7 so companies can maximize their productivity. They also allow international trade companies to access wholesale products and contacts from anywhere in the world. This can open up an entire new world, especially for smaller businesses that may have a limited budget for advertising and marketing. They dont need to spend valuable time or resources trying to locate wholesale suppliers or wholesale products.

Trade Leads
If you are looking to purchase goods, sell stock or form new business partnerships, you should consider using one of the many online B2B marketplaces. These online sites provide a great opportunity to locate a large number of trade leads in a relatively short period of time. Trade leads can be acquired from the convenience of your home and on your own schedule. You never have to be concerned about showing up to find a business closed or products no longer available. They also companies and individuals to locate the products, contacts or information they require in a significantly shorter period of time than traditional contact methods.

Source : uptocomputer.blogspot.com

Import Export Articles : Global Trade Information

In today’s stiff competitive world it is necessary that one should shell out all the required information about the trade practices and procedures, prevailing in the international arena. As due to the globalization of the world, trade is not confined to a national territory, it has crossed all the boundaries and reinforcing the entire universe.To undergone in any trade activity one should be well furnished with the requisite information about export or import trade practices, foreign trade policy, trade agreements. For endogenous growth, it is required to be familiar with the terms used in international trade in all facets of the industry.

In present technology driven world, there are many resources which are imparting aforesaid details in one blink. One of the such reputed on line business to business platform is indianindustry.com, which has encapsulated all the detailed information about the embassies, consultants, ports of India, special economic zone and associations. Its easy to find all the information about the global business practices clubbed at one place.

Indianindustry.com is an on line repository of updated trade information of international trade. It acts as a catalyst for powering the economic growth by allowing access to the information about worldwide trade practices and procedures. It has centralizes trade related information under different heads. By availing the information from indianindustry.com, it becomes relatively easy to develop and implement your export or import plan.

Indianindustry.com has made the process of acquiring precisely and correct trading information about the trade publication and journals more easier and dynamic. Earlier finding the list of useful trade practices was a cumbersome activity. But now by clicking on the useful links, one can easily acquaint itself with the knowhow of the trade publisher and subscription details. It provides up to the minute information encompassing the trade and business policies.

indianindustry.com helps in unveiling the detailed information about the worldwide trade data and practices. It is one of the most trustworthy site which unfolds the govt. data and details. Various links are provided which are helpful in accessing the overall view of taxation, custom duty and right to information act and many more. Enlisting the information about special economic zone, trade associations, councils is no more remains a tedious job.

Besides aforesaid data, one can overlook the reliable trade statistics of India in Rupees and US Dollars. Its easy to forecast the trade practices on the ground of trade statistics categorization, made by indianindustry.com.

The domain provides a full account of the information for buyers which gives a snapshot of guidelines while dealing with the international sellers. It is one of the most pivotal information forum for excelling into universal trading practices.

Indianindustry.com assures plethora of information about the trade practices prevailing in the worldwide market sector. It ensures flow of free and steady data about the guidelines for sellers, payment mode, which bridges and culminates business excellence for all active players of sector.

Source : www.importerbase.com

Flawless Diamond Opens exclusive retail outlet at Lokhandwala Complex

Flawless Diamond India Ltd has announced that the Company is opening up its 21st retail outlet at Premises No.16, Embassy Apartment, Apana Char Co.Op. Housing Society, Unit No.6, Lokhandwala Complex. Andheri (West), Mumbai-400 053. This is very prime location of western suburb in the Mumbai city for this kind of retail business. Company will introduce its newly innovated exclusive designs of its Diamond Studded Jewellery. Company is confident to achieve better retail sale from this outlet. This is the part of the Company's retail expansion programme of opening up 100 outlets. Flawless Diamond India Ltd is 19 years old Company initially engaged in Diamond export-import business. Promoter has a 25 years experience of Jewellery business. Two years before the Company has decided to enter in to the branded and non branded designers Jewellery business. After having success in this area then decided to entering in to the retailing of branded and non branded designer Jewellery. Then Company introduced and well established its brand "AUM". The Company has already introduced several series of its brand "AUM" like AUM Elegant, Aum Signature, AUM Ethereal, AUM Solitaire, AUM Star, AUM Galaxy, AUM Bridal, AUM Classic etc. To innovate time to time new exclusive Designs and introduced that in to the market, the Company has its own three state of Art Designers studios and many numbers of artists. The Company has its own R & D Department for this. To sell this designers Jewellery Company has own 21 retail outlets and number of franchises across India. Mr. Bhawar U Jain, M D of the Company says "We at Flawless put in every possible effort to meet the expectations of our customers and established value added retail business. Because of total satisfaction of our customers and our commitment towards successfully established chain of retail outlets across the India. We are confident for opening up 100 outlets very soon".

Source: Equity Bulls

Increase in Exports of Indian Gems and Jewellery

India's total gem and jewelry exports rose to $20.88 billion from $17.08 billion in the previous financial year, a growth of 22.27 percent. These results were announced by Sanjay Kothari, chairman of The Gem and Jewellery Export Promotion Council (GJEPC) at a press conference in Mumbai Tuesday.

Exports of cut and polished diamonds, representing 68 percent of total exports, reached $14.18 billion in the 2007-08 fiscal year, compared to $10.89 billion in the previous year, a growth of 30.19 percent.

Gold jewelry exports of both plain and studded jewelry grew by 8.07 percent to touch $5.62 billion – up from $5.20 billion in the previous year – representing a 27 percent share of the gems and jewelry exports.

Colored gemstone exports grew 12.15 percent to $276.42 million in 2007-08, compared to $246.47 million in the previous year.

Total gem and jewelry imports increased to $18.50 billion in fiscal 2007-08, from $13.97 billion. Rough diamond imports amounted to $9.79 billion, gold bar imports were worth $2.54 billion and cut and polished diamond imports added up to $5.43 billion.

However, the massive increase in polished diamond imports from $2.026 billion in 2006-07 to $5.43 billion in 2007-08, shows that there has been a marginal decrease in manufacturing activity, despite a major spurt in trading activity.

Furthermore, increasing gold prices have had an impact on gold jewelry exports, indicating that the overall manufacturing activity has declined to some extent.

Kothari pointed out that, among the factors negatively affecting the gem and jewelry industry were the U.S. recession, the slowing of jewelry sales and the depreciation of the rupee. He also acknowledged that this has led to a loss of some 150,000 jobs in the sector.

Some of the future initiatives announced by the chairman to boost the export sector were related to rough diamond sourcing, particularly from the African countries; focused market promotion with an emphasis on building Brand India; the development of a Trend Cell; talent development and a focus on design and innovation.

The country would make efforts towards initiating generic promotions of diamond jewelry by international organizations. IDMA has already come forward to pledge its support to any such move by world bodies and the CIBJO conference currently underway in Dubai, which was being attended by the Vice-Chairman of the Council Vasant Mehta, is also expected to make a similar commitment, Kothari said.

Source: http://www.idexonline.com/

Pakistan to export cement, rice to Sri Lanka

Colombo (PTI): Pakistan will supply cement and rice to Sri Lanka, even as the two countries have pledged to avail of the vast untapped potential for bilateral trade.

Sri Lankan government would import cement from Pakistan through the recently set up State Trading Co-operative Wholesale Company Ltd to counter the shortage allegedly created by errant traders concealing their stocks.

A spokesman of the Sri Lanka state owned company said the agreement is expected to be signed shortly with a company in Pakistan to import cement.

"The demand for cement has risen with the commencement of many massive infrastructure projects," he said.

The Trade Development Authority of Pakistan (TDAP), meanwhile, has agreed to export 500 tonnes of basmati rice to Sri Lanka to bridge its demand-supply gap.