Amazon India announced the launch of "Global Store" in India formally ahead of the Diwali. The "Global Store" section was already available on Amazon India but the formal announcement took place yesterday.
Smuggled gold into India could double to as much as 300 tonnes in 2016
There is lot of pent-up demand. Imports will rise from next week
Steel Ministry has pitched for addressing the inverted duty structure in the sector in the upcoming Budget in a bid to protect the domestic industry, which is facing an onslaught of cheap imports and weak prices.
Govt hiked import duty on long steel products from 5.5 percent to 7.5 percent and that of flat steel product from 7.5 percent to 10 percent
Industry body ISMA said the decisions would help the millers only in the long run
The NDA has been lucky as inflation is trending downwards and overseas gold prices are also falling. But Jaitley seems to have missed a chance by not cutting gold import duty
Indian manufacturers have asked the government to double import duty on tyres to 20 percent in the Budget to bring it at par with natural rubber in order to provide a level-playing field to the domestic industry.
The company's Indian arm, Mercedes Benz India also wants Finance Minister Arun Jaitley to consider bringing down import duty on luxury cars in the upcoming budget, besides focusing on infrastructure and improving fuel quality standards to propel growth in the sector.
The savings would come in the form of reduced fuel subsidy costs and higher petrol and diesel levies
Indians living in the Gulf region have criticised the government's decision to impose a 35 percent duty, besides other charges, on television sets being brought into the country
Titan Industries shares slump 12.11 percent after the Reserve Bank of India banned imports of gold coins and medallions and required domestic buyers to pay cash for the yellow metal, among other measures.<br /><br />
Gold prices on Thursday zoomed to a five-week high rising by Rs 430 to Rs 28,090 per 10 grams in the national capital on increased stockists buying, following government decision to hike import duty on the precious metal amid firm global cues.
"The import duty on gold has been increased from 6 per cent to 8 per cent," Revenue Secretary Sumit Bose said.