Government plans duty on auto component imports

October 6th, 2009 KOLKATA - The West Bengal government has appointed Jurong Consultants India to prepare the master plan for the state's first auto component park in Guptamoni of West Midnapore district. "We have appointed Jurong as our master plan consultants.

October 1st, 2009 CHENNAI - Japanese auto major Nissan Motors Thursday unveiled the first sketch of its global compact car to be manufactured in five countries including India. "We are serious and committed in our plans for India, and are all excited as we gear up to start production in May 2010," said Kiminobu Tokuyama, managing director and chief executive of Nissan Motor India.

September 2nd, 2009 MUMBAI - Union Heavy Industries Minister Vilasrao Deshmukh Thursday said the government is examining setting up of a separate financing arm for auto components manufacturers. We are looking to set up a separate financing arm for auto components manufacturers, Deshmukh told reporters at the sidelines of the annual conference of Automotive Components Manufacturers Association (ACMA).

August 21st, 2009 DUBAI - The United Arab Emirates (UAE) has lifted a ban on cattle imports from Somalia, the WAM news agency reported Friday citing the environment ministry. Cattle imports from the two Somali cities of Bosaso and Barabara will now be allowed in the country, UAE Environment and Water Minister Rashid Ahmed Bin Fahad said Thursday.

August 11th, 2009 Chinese exports, imports fall sharply in JulyBEIJING — China's government says the decline in the country's exports and imports accelerated in July amid weak global consumer demand. Tuesday's report by the Chinese customs agency says exports were down 22.9 percent from a year earlier, while imports fell 14.9 percent.

July 31st, 2009 NEW DELHI - Food and Agriculture Minister Sharad Pawar on Friday said that the Government has extended its scheme to allow duty-free raw sugar imports until March and white sugar imports up to November. Pawar said the government had also allowed private firms and more state-run firms, which he did not name, to import whites at zero duty.

July 26th, 2009 NEW DELHI - The Associated Chambers of Commerce and Industry (Assocham) has urged the government to restrict Chinese power equipment imports as the domestic industry is badly hit by the cheaper availability of Chinese products. In a note submitted to the finance ministry, Assocham said India's power equipment manufacturers lost business worth Rs.2.5 lakh crore ($52 billion) as power producers turned to cheaper Chinese products.

July 20th, 2009 NEW DELHI - The country's leading direct-to-home (DTH) service provider DishTV Monday hiked the price of set-top boxes (STB) by Rs.100 each, passing on a rise in customs duty to customers. Now the STBs will cost Rs.1,590.

July 7th, 2009 TOKYO - Saudi Arabia and the United Arab Emirates (UAE) are the largest oil suppliers to the world's second largest economy Japan and account for over half of the country's oil imports, WAM news agency reported Tuesday citing Japanese government figures. Saudi Arabia remained the largest crude oil supplier to Japan in May 2009, exporting 31.4 million barrels per day and accounting for 28.8 percent of total its oil imports.

July 6th, 2009 NEW DELHI - The government Monday reduced duties on large cars while unveiling the 2009-10 budget proposals. A leading NGO said this would increase air pollution in a big way.

June 8th, 2009 Senate panel to question Obama auto task forceWASHINGTON — A Senate committee plans to question two members of the White House's auto task force about using taxpayer money to restructure General Motors and Chrysler. The Senate Banking Committee will hear from Ron Bloom, a senior adviser to the auto task force, and Edward Montgomery, who serves as the Obama administration's director of recovery for auto communities and workers.

June 3rd, 2009 CHENNAI - The decision of General Motors (GM) to file for bankruptcy could create a new supply chain for Indian and Chinese auto component makers, say industry analysts. "Corporate bankruptcy in the US is merely restructuring of operations under the government eye.

April 1st, 2009 NEW DELHI - India's merchandise exports dipped 21.7 percent in February to Rs.58,685 crore ($11.91 billion), as compared to Rs.60,476 crore ($15.22 billion) in the corresponding month last year, according to government data released Wednesday. Exports figures have been contracting since last October, forcing the commerce ministry to revise the target for 2008-09 to $175 billion from $200 billion following fall in overseas demand.

March 14th, 2009 KOLKATA - After the Singur jolt, the West Bengal government is slowly making arrangements to house the state's first auto components park in Guptamoni in West Midnapore district. A special purpose vehicle (SPV), floated by the developers of the project, has now started buying land directly from land owners in Guptamoni, some 127 km from here, a top official of West Bengal Industrial Infrastructure Development Corp (WBIIDC) told IANS Friday.

January 1st, 2009 CHENNAI - The stimulus shot of 4 percent cut in excise duty will take some more time to rejuvenate the two-wheeler manufacturer. Even after offering discounts, major players have reported lower sales last month as compared to December 2007.