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Explore India's FTA with EFTA: USD 100 billion investment, 1 million jobs, tariff reductions, and benefits for key sectors. New Delhi, Oct 1 (PTI) India's free trade agreement (FTA) with four European nation bloc European Free Trade Association (EFTA) comes into effect. It is aimed at boosting two-way commerce and investments. The EFTA members are Iceland, Liechtenstein, Norway, and Switzerland. It was signed on March 10, 2024. * What is an FTA? It is an arrangement between two or more count ...Read More >
New Delhi, Oct 1 (PTI) India's free trade agreement (FTA) with four European nation bloc European Free Trade Association (EFTA) comes into effect. It is aimed at boosting two-way commerce and investments. The EFTA members are Iceland, Liechtenstein, Norway, and Switzerland. It was signed on March 10, 2024. * What is an FTA? It is an arrangement between two or more countries where they agree either to eliminate or reduce customs or import duties on the maximum number of goods traded between th ...Read More >
A Bollywood supporting actor was apprehended at Chennai Airport with 3.5kg of cocaine, valued at Rs 35 crore, in a joint operation by Customs and DRI. The actor, arriving from Singapore, claimed he received the drugs in Cambodia. This incident is part of recent significant cocaine seizures, raising concerns about organised crime in the entertainment industry. In a major drug bust, a Bollywood supporting actor was apprehended at Chennai Airport with 3.5kg of cocaine, estimated to be worth around ...Read More >
Chennai, October 1: In a major anti-drug operation, Chennai Customs and the Directorate of Revenue Intelligence (DRI) detained a Bollywood supporting actor with 3.5 kg of cocaine, valued at nearly INR 35 crore in the international market. The actor, who has played minor roles in films such as Student of the Year, was intercepted by the Air Intelligence Unit upon arrival from Singapore in the early hours of Sunday. Acting on specific intelligence, customs officials examined his checked-in trolle ...Read More >
MUMBAI, Sept 30 (Reuters) - India's imports of gold and silver nearly doubled in September from August, defying record high prices, as banks and jewellers rushed to build inventories ahead of festivals and escape higher taxes on imports, trade and government sources said. Higher imports by India, the world's second-biggest consumer of the precious metal, are set to support gold prices that hit records this week, even as demand languishes in top buyer China. The surge in imports could widen Ind ...Read More >
MUMBAI (Reuters) -India's imports of gold and silver nearly doubled in September from August, defying record high prices, as banks and jewellers rushed to build inventories ahead of festivals and escape higher taxes on imports, trade and government sources said. Higher imports by India, the world's second-biggest consumer of the precious metal, are set to support gold prices that hit records this week, even as demand languishes in top buyer China. The surge in imports could widen India's trade ...Read More >
Panaji: The enforcement directorate (ED), Panaji zonal office, on Monday searched the premises of 'Loja Shamu' in the Mapusa Municipal Market, for allegedly unauthorised dealing in foreign exchange and seized foreign and Indian currency.The action was initiated based on information from the Goa airport customs regarding the seizure of foreign exchange worth approximately $35,000.ED said that during the search, foreign currency equivalent to approximately Rs 3 lakh, Indian currency amounting to a ...Read More >
Leh: The last rites of two of the four youths killed in the September 24 violence were performed in curfew-bound Leh town on Sunday amid tight security, with no relaxation in restrictions, officials said. "The situation remained by and large normal with no untoward incident reported from anywhere," an official said, adding mobile internet services in the town remained suspended. Prohibitory orders banning assembly of five or more persons also remained in force in other major parts of the Union ...Read More >
Lucknow, Sep 27 (SocialNews.XYZ) BJP MP Dinesh Sharma, on Saturday condemned the recent violence linked to the 'I Love Muhammad' poster controversy and urged communities to uphold peace and mutual respect. His comments came in the wake of violent protests in several parts of the country, including Uttar Pradesh and Karnataka. Speaking to IANS, Sharma said, "This is not appropriate. No religion teaches violence. The life of Prophet Muhammad itself stands as a testament to patience and compassion ...Read More >
Kochi, The Kerala High Court on Friday sought a response from the Customs Preventive Department on a plea by actor Dulquer Salmaan seeking the release of his vehicle seized by the agency as part of its operation to identify and confiscate luxury cars smuggled into India from Bhutan. Justice Ziyad Rahman A A issued notice to the Central Board of Indirect Taxes and Customs and directed its counsel to come with instructions on September 30, the next date of hearing. In his plea, Dulquer stated th ...Read More >
Mumbai: India purchased 300,000 metric tons of soyoil from Argentina during Tuesday and Wednesday, the largest ever purchase in a two-day period, dealers said, taking advantage of Buenos Aires' move to scrap export taxes on soybeans and other food products. The aggressive purchases will help Argentina cut its soyoil stocks, but could also mean fewer palm oil shipments from Indonesia and Malaysia to India. The soyoil purchases are for October-to-March shipment, the dealers said, declining to be ...Read More >
Sept 26 (Reuters) - Shares of India's Waaree Energies (WAAN.NS), opens new tab fell 4.5% to 3,288.9 rupees on Friday after U.S. customs officials said they were investigating if the solar panels maker sidestepped tariffs on Chinese-made cells and panels by labeling them as made in India. The U.S. Customs and Border Protection said in a memo on Friday that there was reasonable suspicion that Waaree had failed to label some of its imported products as subject to antidumping and countervailing dut ...Read More >
Customs officials in Kerala are conducting raids at multiple locations, including the residences of actors Prithviraj and Dulquer Salmaan, as part of "Operation Numkhor." The operation investigates alleged tax evasion involving luxury vehicles imported from Bhutan using fraudulent registrations. Authorities are examining vehicle documents and have detected approximately 15 violations related to this scheme. Residences of Malayalam stars Prithviraj Sukumaran (Thevara) and Dulquer Salmaan (Panamp ...Read More >
Kochi: Raids were conducted at the residences of leading Mollywood actor Prithviraj Sukumaran and actor-producer Dulquer Salmaan by the customs department in search of foreign luxury vehicles brought into the country without paying duties. This is part of a nationwide crackdown codenamed "Numkhor" (which means "vehicle" in the Bhutanese language), targeting a racket allegedly involved in tax evasion and illegal vehicle imports. Raids were carried out at Prithviraj's house in Thevara and Dulque ...Read More >
Bengaluru (Karnataka) [India], September 16: Guidewire, a leading insurance technology provider for non-life insurance companies, announced the opening of its new office at Prestige Tech Park, Bengaluru. The move to a larger facility is indicative of Guidewire tremendous growth in India as it continues to advance cloud-native solutions, attract top engineering talent, and help non-life insurers become digital-first companies. With more than 570 insurers in 43 countries relying on the Guidewire ...Read More >
Bengaluru (Karnataka) [India], September 16: Guidewire, a leading insurance technology provider for non-life insurance companies, announced the opening of its new office at Prestige Tech Park, Bengaluru. The move to a larger facility is indicative of Guidewire's tremendous growth in India as it continues to advance cloud-native solutions, attract top engineering talent, and help non-life insurers become digital-first companies. Also Read | BNB, Ethereum, and XRP Climb As Bitcoin's Market Share ...Read More >
BusinessWire India Bengaluru (Karnataka) [India], September 16: Guidewire, a leading insurance technology provider for non-life insurance companies, announced the opening of its new office at Prestige Tech Park, Bengaluru. The move to a larger facility is indicative of Guidewire's tremendous growth in India as it continues to advance cloud-native solutions, attract top engineering talent, and help non-life insurers become digital-first companies. With more than 570 insurers in 43 countries rel ...Read More >
Chennai (Tamil Nadu) [India], September 16 (ANI): Fishermen from Tamil Nadu's Ramanathapuram district, who were arrested by the Sri Lankan Navy for allegedly crossing the maritime boundary while fishing returned to Chennai after being released upon payment of a fine of Rs. 5 lakhs each. At Chennai airport, after completing customs and immigration procedures, they were received by Fisheries Department officials. Also Read | Boney Kapoor Recalls Cherished Memory With PM Narendra Modi, Says 'He C ...Read More >
Chennai (Tamil Nadu) [India], September 16 (ANI): Fishermen from Tamil Nadu's Ramanathapuram district, who were arrested by the Sri Lankan Navy for allegedly crossing the maritime boundary while fishing returned to Chennai after being released upon payment of a fine of Rs. 5 lakhs each. At Chennai airport, after completing customs and immigration procedures, they were received by Fisheries Department officials. Fishermen who had ventured into the sea on June 28 and 30 in two boats from Rameswa ...Read More >
New Delhi [India], September 15 (ANI): The Supreme Court on Monday noted that multiple inquiries into the affairs of Vantara, the animal rescue and rehabilitation centre, have led to the finding that there has been no violation of law whatsoever. A bench of Justices Pankaj Mithal and Prasanna B Varale found that there is no merit in the allegations of smuggling of animals or money laundering against the Jamnagar-based facility, owned and operated by the Reliance Foundation. The Court's observa ...Read More >
Mumbai, Sep 15 (PTI) Four persons were arrested with hydroponic weed worth Rs 49 crore in separate seizures by Mumbai Customs at the international airport here, an official said on Monday. The contraband was transported from Tashkent and Bangkok by the accused, who were part of a drug syndicate, he said. The customs department conducted a special drive at the Chhatrapati Shivaji Maharaj International Airport (CSMIA) from September 12 to 15, the official said. The team intercepted a passenger, ...Read More >
Ahmedabad - GREW Solar, India's youngest and fastest-growing solar PV manufacturers, showcased its latest range of advanced photovoltaic (PV) modules at RE+ 2025, North America's largest clean energy trade show. The launch underlines India's rising prominence in delivering high-quality, reliable, and globally compliant solar solutions. At the event, GREW Solar launched the ALL-BLACK Series, specially designed for the U.S. rooftop market, these modules combine a sleek, modern aesthetic with prov ...Read More >
CHENNAI: Passengers arriving at Chennai International Airport have raised complaints that taxi operators are overcharging and, in some cases, forcing travellers, particularly foreigners and out-of-state visitors, to pay extra fares. About 60,000 passengers travel daily at Chennai Airport, both domestic and international. Of these, about 30,000 are incoming passengers. Most of these incoming passengers use rental cars or taxis to travel out of the airport. Reports suggest that drivers often dema ...Read More >
-- the proposed Sethusamudram / Sethudundaram project (a shipping canal or bridge between India and Sri Lanka through the Palk Strait) would have far-reaching implications for Sri Lanka. Let's break them down into political, geographical/environmental, and financial/economic aspect 1. Political Implications * Strategic Balance in the Region * India's construction of a bridge or canal would consolidate its influence over the Palk Strait and Gulf of Mannar, potentially reducing Sri Lanka's lev ...Read More >
New Delhi [India], September 14 (ANI): The Indian luggage industry is projected to grow at a healthy CAGR of 12 per cent to reach Rs 267 billion by Calendar Year (CY) 2028, up from an estimated Rs 170 billion in CY24, according to a report by Motilal Oswal Financial Services. The report added that the sector, which had shrunk to Rs 60 billion in CY20 due to the pandemic, has staged a remarkable recovery with a 37 per cent CAGR between CY20 and CY23. Also Read | Kolkata Fatafat Result Today, Se ...Read More >
New Delhi [India], September 14 (ANI): The Indian luggage industry is projected to grow at a healthy CAGR of 12 per cent to reach Rs 267 billion by Calendar Year (CY) 2028, up from an estimated Rs 170 billion in CY24, according to a report by Motilal Oswal Financial Services. The report added that the sector, which had shrunk to Rs 60 billion in CY20 due to the pandemic, has staged a remarkable recovery with a 37 per cent CAGR between CY20 and CY23. "India's travel landscape has transformed dr ...Read More >
MUMBAI: The Directorate of Revenue Intelligence recently seized 28 containers carrying 800 metric tonnes of cosmetics and dry dates worth ₹12 crore at the Nhava Sheva Port in Navi Mumbai. The containers were allegedly shipped in from Pakistan, in violation of the prohibitions imposed by the government on the import Pakistani goods after the Pahalgam terror attacks. Following the terror attacks, on May 2, the government had imposed a complete ban on the direct or indirect import of Pakistani-ori ...Read More >
New Delhi, Sep 12 (PTI) India and the European Union (EU) are now maximising their efforts to finalise negotiations for a proposed free trade agreement by the end of this year, with both sides stressing their commitment to a comprehensive and balanced pact to benefit businesses and consumers. The official team of India and the EU are engaged in the 13th round (September 8-12) of negotiations for the agreement here. EU Trade Commissioner Maros Sefcovic and the European Commission's Agriculture ...Read More >
Indian fashion jewellery makers are struggling. Chinese imports have surged, becoming much cheaper due to alleged duty evasion. This is hurting local businesses in Mumbai, Rajkot, and other hubs. Manufacturers are cutting production and jobs. The government has been notified about the issue. Some businesses are unable to pay wages. Domestic fashion jewellery manufacturers are facing an onslaught of Chinese imports, which have surged 25% year-on-year, with alleged under-invoicing of shipments an ...Read More >
Being denominated in US dollars in the international market, gold's price in India is highly sensitive to movements in the rupee-dollar exchange rate.Source : PTI Gold prices in Chennai softened marginally on Thursday, with 22-karat gold now retailing at Rs 9,290 per gram and 24-karat gold at Rs 10,135 per gram. The minor drop comes in line with price trends observed in other parts of the country, influenced by fluctuations in global bullion markets and currency exchange rates. India's relianc ...Read More >
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