Gujarat Chamber of Commerce & Industry


Thu, 24 July 2014

Trade & Industry

Coal Demand

India’s coal demand is expected to rise 6% to 787 million tonnes this fiscal year, coal and power minister Piyush Goyal said, which could lift imports close to 200 million as local supply falters. Stiff public opposition to land acquisition, environmental red tape and inherent inefficiencies of behemoth Coal India Ltd, the world’s largest coal miner, have made the country a big importer of coal despite sitting on plentiful reserves.

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Economic & Finance

10 small reforms, big impact: Modi starts bit by bit for big bang

Where are Modi Sarkars big-bang reforms, some are asking. But most are missing a clutch of small policy changes that will greatly improve business climate and citizens lives.

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Gas pricing uncertainty stops GSPC from starting production

Gujarat State Petroleum Corporation (GSPC), that is ready to pump natural gas from its Krishna-Godavari (KG) basin block, has not started commercial production, which industry and official sources say may be due to the uncertainty over gas prices.

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International Affairs

Banking on BRICS

The leaders of the BRICS nations have pulled off a coup of sort in announcing the establishment of a New Development Bank (NDB) with an initial subscribed capital of $50 billion. Significantly, they have chosen to share the capital equally among them. The capital base is to be used for funding infrastructure and “sustainable development” projects in the BRICS countries initially. Other low and middle-income countries will be able buy in and apply for funding subsequent as time progresses. They have also created a $100 billion Contingent Reserve Arrangement (CRA).

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Important Notifications / Circulars

Govt. withdraws VKGUY benefit on Skimmed Milk Powder

Amendments in the Reward/Incentive Schemes of Chapter 3 of Foreign Trade Policy 2009-14 – Appendix 37A, of Handbook of Procedure (Vol. I). In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy 2009-2014, the Director General of Foreign Trade hereby makes the following amendment in the Handbook of Procedures (Vol. I) (Appendices and AayatNiryat Forms) 2009-2014: 2. The following product is deleted from Appendix 37 A, Table-2 of Hand Book of Procedure (Vol. I) with immediate effect.

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Export Policy of Onions

In exercise of powers conferred by Section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 22 of 1992), as amended read with Para 1.3 of the Foreign Trade Policy, 2009-2014, the Central Government hereby makes the following amendment, with immediate effect, in Notification No. 73 (RE- 2013)/2009-14 dated 12.03.2014 relating to export of onion.

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Dissolution of Non-Statutory Committees/Boards under the Ministry of Labour and Employment

The Ministry of Labour and Employment through its circular No. S-66013/1/2011-IR(PL) and No. Z-13025/15/2010-IR(PL) dated 14th July, 2014 has informed that the Government has dissolved the ‘Industrial Tripartite Committee on Road Transport Industry’ and the ‘Industrial Tripartite Committee for Sales Promotion Employees’ with immediate effect until further orders.

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