Gujarat Chamber of Commerce & Industry


Thu, 09 June 2016

Trade & Industry

Gujarat announces IT policy to promote new ventures

Gujarat government today announced its first ever IT and Electronics Start-up Policy, having special focus on encouraging new ventures by providing them various incentives and subsidies. Under the policy, the state government would develop 50 incubators to mentor and guide 2,000 start-ups in the next five years.

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Corporate Affairs Ministry again extends statutory filing deadline amid MCA21 woes

Extending the deadline for the third time, Corporate Affairs Ministry has now given time till July 7 for companies to submit their statutory filings as issues related to MCA21 portal are yet to be fully resolved.

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CBEC tweaks warehousing norms for imported goods

Tweaking norms for warehousing, the revenue department has done away with the requirement of furnishing bank guarantee for storing imported goods for one year. For storage beyond one year, importer will have to furnish a security by way of a bank guarantee for an amount equivalent to certain percentage of duty plus interest accrued thereon during the preceding period.

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India ranks second on GRD index on ease of doing business: Study

India has jumped 13 positions from last year to rank second among 30 developing countries this year on ease of doing business, according to a study topped by China. According to 2016 Global Retail Development Index (GRDI), which ranks top 30 developing countries for retail investment worldwide, a pick up in GDP growth and better clarity regarding FDI regulations have helped India achieve a second ranking.

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Services sector growth hits 6-month low in May

Indias service sector output sputtered to its slowest pace of growth in six months in May, a private survey showed. The Nikkei Services Business Activity Index fell to 51 from 53.7 in April, suggesting a slackening of services activity for the second straight month. A reading above 50 on the index denotes expansion.

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Moratorium on Vatva, Ankleshwar GIDCs may be removed soon: Javadekar

Moratorium on two ‘critically polluted’ industrial clusters in Gujarat, prohibiting setting up of new projects or expansion of the existing ones, might be removed soon, Union Minister Prakash Javadekar said.“We are continuously monitoring the pollution level of GIDCs where moratorium was imposed. Pollution status of Vatva (Ahmedabad) and Ankleshwar (Bharuch) GIDCs will be ascertained on the basis of a new formula this month and I am sure the two will get relief,” he said.

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Economic & Finance

RBI maintains status quo on key rates: Highlights

RBI Governor Raghuram Rajan kept the key policy rate unchanged citing higher upside risks to inflation trajectory but said the central bank will remain accommodative provided data are supportive. Following are the highlights of RBIs second bi-monthly monetary policy statement, 2016-17: • Repo rate unchanged at 6.50 per cent, Reverse Repo at 6% • Cash reserve ratio or CRR unchanged at 4% • Pegs growth forecast at 7.6% for the current fiscal • Inflation target kept unchanged at 5% for January 2017 with upward bias • Impact of firming crude oil prices, implementation of 7th Pay Commission recommendations need to be watched • Interest rate transmission critical for growth revival • Public investment gaining strength, continuing weakness in private investment is a concern.

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Parliamentary panel invites public comments on debt recovery laws

A Parliamentary Committee has sought comments from the stakeholders on a bill to amend the debt recovery laws with an overall objective of improving the ease of doing business. The views of stakeholders are being sought by June 22 on the Enforcement of Security Interest and Recovery of Debt Laws and Miscellaneous Provisions (Amendment) Bill, 2016, currently being scrutinized by the 30-member Joint Parliamentary Committee.

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Forex reserves continue to slide, fall to $360.2 billion

The countrys foreign exchange reserves declined by $711.6 million to $360.193 billion in the week to May 27 due to fall in foreign currency assets, Reserve Bank of India said. In the previous week, the reserves had fallen by $121.3 million to $360.905 billion. Foreign currency assets, which are a major component of the overall reserves, declined by $711.9 million to $336.227 billion in the week under review, central bank data showed.

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India, US announce $60 million clean energy financial support

India and the US have announced the setting up of two financial assistance programs worth $60 million for supporting Indias much-needed clean energy initiatives including in solar power and other renewables.

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New green norms to make power, fuels, cars costlier

Consumers will have to shell out more for power, fuel and cars in a few years as these industries begin to pass on the burden of technology upgrades being put in place for meeting increasingly stringent environmental and emission norms. The new environmental norms for coal-fired power plants, for example, are expected to push up electricity cost by 40-50 paise per unit. Motor fuels could become costlier by 70 paise or more per litre as the country moves to Bharat Stage-VI - akin to Euro-VI - grade fuels by April 2020.

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Expert panel to examine projects without environment clearance

Centre is planning to set up an expert panel to examine projects for which environment clearance (EC) is sought after starting the work on ground. The panel will give clearance to such projects after taking assurance on remedial measures for any environmental loss and possible violations, as per the proposal.

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Send SMS and get AMC team to plant trees at your place for free

Mayor of Ahmedabad launched Green Action Plan of Ahmedabad Municipal Corporation (AMC). According to the plan, the citizens of Ahmedabad will avail free tree plantation service by AMC at their own place. Thedetails of the scheme are presented below: – Send your name, address, type of tree plant and number of plants you want by SMS to phone number 97 277 600 23 or 97 277 600 25. – AMC will in response facilitate tree plantation without any charge. – Tree plantation procedure will start from 25 June after one round of sufficient shower.

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About the Company

Belgian Company EUROFIT launched itself in 2000 on the market of fresh products destined for wholesale distribution. The Company basically supplies retail products and industrial products. This group is specialized in trading dairy products, has through the years been able to make itself known as a privileged partner of both major industrial and distribution groups.For more details you may visit Looking for The Company is very keen to develop their presence in India through distributors / retailors (retail products) or manufacturers / traders (industrial products). Product Range For the industrial sector: Raw milk, concentrated milk, cream, buttermilk, sheep and goat milk, butter, milk powder, whey and demineralized whey powder, casein / caseinates, etc… For the retail sector: Long life products (UHT milk, cream, concentrated milk, coffee milk, soya drinks, baby-food, etc..), fresh products (creamy yoghurts, soya desserts, milk drinks, etc…) and deep-frozen products (ice-cream, frozen pancakes).

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