India’s bilateral trade turnover with Ukraine was US$ 2.52 billion in 2019-20

Pharmaceuticals account for majority of Indian exports to Ukraine. India is the third largest exporter of pharmaceutical products to Ukraine, after Germany and France, in value terms. A number of Indian companies like Ranbaxy, Dr. Reddy’s Laboratories, Sun Group etc. have their representative offices in Ukraine. Representatives of major pharmaceutical companies have set up an Indian Pharmaceutical Manufacturers’ Association (IPMA) in Ukraine.

Fixation of Tariff Value in India for Edible Oils, Brass Scrap, Areca Nut, Gold and Silver – 12/2022-Customs (N.T.)

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient to do so, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001,

Briefing on Ukraine Situation by Indian Foreign Secretary – 24/02/2022

Prime Minister is scheduled to speak to the President of Russia, Vladimir Putin, shortly. External Affairs Minister will be speaking to the foreign ministers of the countries neighbouring Ukraine, namely Poland, Romania, Slovakia, and Hungary. Earlier this evening, he also spoke to the EU high representative, as well as the Foreign Minister of the UK. A number of steps have been taken over the last month or so to deal with the emerging situation in Ukraine, including the contingencies that could arise and I'm referring to the situation as we see today.

Guidelines relating to conduct of guarantee business in India

An important criterion for judging the soundness of a banking institution is the size and character, not only of its assets portfolio but also, of its contingent liability commitments such as guarantees, letters of credit, etc. As a part of business, banks issue guarantees on behalf of their customers for various purposes. The guarantees executed by banks comprise both performance guarantees and financial guarantees. The guarantees are structured according to the terms of agreement, viz., security, maturity and purpose. With the introduction of risk weights for both on-Balance Sheet and off-Balance Sheet exposures, banks have become more risk sensitive, resulting in structuring of their business exposures in a more prudent manner.

Borrowing and Lending in foreign currency in India

The Reserve Bank of India, is the custodian of the country’s foreign exchange reserves and is vested with the responsibility of managing their investment. The legal provisions governing management of foreign exchange reserves are laid down in the Reserve Bank of India Act, 1934. The Reserve Bank issues licences to banks and other institutions to act as Authorised Dealers in the foreign exchange market. In keeping with the move towards liberalisation, the Reserve Bank has undertaken substantial elimination of licensing, quantitative restrictions and other regulatory and discretionary controls.

Jurisdiction of the Fast Track Court & Fast Track Special Court in India

Provisions for the appointment of Public Prosecutor and Process Server have not been made under the Fast Track Courts Scheme. A Public Prosecutor is necessary for effective functioning of the Fast Track Courts. Therefore, a Public Prosecutor may be earmarked for each such court and the expenses for the same shall be borne out of the allocation under the head "Fast Track Courts". Process service shall be done through the existing mechanism.

Food Products Testing Labs in India

There are 726 Testing Laboratories for food products in the country as per study conducted by Ministry of Food Processing Industries in 2020-21 and these Laboratories are operational at different levels of operation and testing of food products. Out of these, 585 food testing laboratories have obtained Accreditation as per the international standards i.e. ISO/IEC 17025/NABL.

Food Corporation of India is operating 2199 warehouses for storage of food grains across the country

The Union Minister of State for Consumer Affairs, Food and Public Distribution, Shri Ashwini Kumar Choubey in a written reply to a question in Rajya Sabhaon 11 FEB 2022, informed that that augmentation of capacity is a continuous process.  Food Corporation of India (FCI) continuously assesses and monitors the storage capacity and based on the storage gap assessment, storage capacities are created/hired. 

Special Economic Zones : 376 SEZs are notified and 268 SEZs are operational in India

Special Economic Zones (SEZs) as on 14/02/2022 Presently, there are 425 formally approved Special Economic Zones (SEZs) in the country. As on date, 376 SEZs are notified and 268 SEZs are operational. SEZs are primarily private investment driven initiatives. The…

PM’s address at dedication of 216-feet ‘Statue of Equality’ of 11th century Ramanujacharya-5/02/2022

The Statue is made of ‘panchaloha’, a combination of five metals: gold, silver, copper, brass, and zync and is among one of the tallest metallic statues in sitting position, in the world. It is mounted on a 54-ft high base building, named ‘Bhadra Vedi’, has floors devoted for a Vedic digital library and research centre, ancient Indian texts, a theatre, an educational gallery detailing many works of Sri Ramanujacharya. The statue has been conceptualised by Sri Chinna Jeeyar Swami of Sri Ramanujacharya Ashram.

Indian Defence Manufacturing Sector as on 4/02/2022

As part of the modernisation process of the Indian Navy, four Visakhapatnam class destroyers (Project 15B), which are upgraded version of the Kolkata class ships, are being constructed at Mazagon Dock Shipbuilders Ltd, Mumbai. The first ship of the Project 15B, INS Visakhapatnam was commissioned on 21 November 2021. Balance three ships of the project are being targeted for delivery between 2022 to 2024.