New Delhi, June 23 (IANS) India, which is one of the world’s largest suppliers of generic medicines and a major provider of vaccines and essential drugs, needs to make a quantum jump into manufacturing high-value pharmaceuticals and Active Pharmaceutical Ingredients (API), and there has to be strong Production Linked Incentive (PLI) schemes to achieve this, economists said on Tuesday.Commenting on the NITI Aayog report on pharmaceutical trade that came out on Tuesday, economist Ved Jain told I…
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New Delhi, June 18 (IANS) The signing of the US‑Iran Memorandum of Understanding is a significant breakthrough that will reshape global trade dynamics and provide a macro‑economic breather for India’s export‑import community acting as a “logistical game-changer”, industry body FIEO said on Thursday.The conflict in West Asia suppressed India’s trade volume particularly with the Middle East and the US-Iran pact is expected to unlock pent‑up consumer and industrial demand, said S C Ralh…
Porbandar, June 13 (IANS) A 100-hectare ‘Furniture Park’ proposed for Porbandar, along with plans for a shipbuilding cluster, was placed at the centre of a high-level industry summit on Saturday, as government representatives and industry leaders discussed developing the coastal city into a port-linked manufacturing and export hub under India’s broader industrial expansion strategy. The ‘Developed Porbandar Furniture Park Summit’, chaired by Union Labour and Employment Minister Mansukh Man…
New Delhi, May 25 (IANS) AYUSHEXCIL and the Spices Board of India on Monday signed a Memorandum of Understanding (MoU) to strengthen India’s global leadership in traditional wellness and natural products. The collaboration aims to promote global cooperation in Ayush products and medicinal spices by strengthening export promotion, quality assurance, standardisation, research, innovation, and international market development for functional foods, nutraceuticals, herbal extracts, and value-added …
Mumbai, May 21 (IANS) LG Electronics India on Thursday reported an 8 per cent year-on-year (YoY) decline in net profit to Rs 693 crore for the March quarter (Q4) of FY26.The company posted a net profit of Rs 755 crore in the corresponding period last financial year (Q4 FY25), according to its stock exchange filing.Despite the decline on a yearly basis, profit after tax surged sharply by 672 per cent sequentially from Rs 90 crore reported in the December quarter of FY26.Revenue from operations du…
Seoul, May 15 (IANS) Samsung Electronics’ largest labour union said on Friday it will proceed with a major strike planned for next week despite the company’s proposal to resume talks without preconditions.An official proposal was sent to the union earlier in the day, in what is seen as the management’s latest effort to avert a planned 18-day strike beginning next Thursday that could disrupt production at the world’s largest memory chipmaker.The union reaffirmed its position that it has no inte…
New Delhi, May 13 (IANS) Commerce and Industry Minister Piyush Goyal said on Wednesday that he interacted with over 1,000 representatives from industry associations and urged them to seize the unprecedented opportunities emerging through India’s expanding FTA network.In a post on X, the minister said he emphasised the need to prepare early, explore new markets, strengthen Brand India, improve quality and productivity and become more globally competitive.“Inspired by PM Narendra Modi’s vision…
Seoul, May 1 (IANS) South Korea’s exports exceeded $80 billion for the second consecutive month in April, jumping nearly 50 per cent from a year earlier on the back of robust shipments of semiconductors, government data showed on Friday.Outbound shipments totalled $85.89 billion last month, up 48 percent on-year, according to the data compiled by the Ministry of Trade, Industry and Resources, reports Yonhap news agency.The April tally marks the second-highest monthly export figure for the countr…
New Delhi, April 24 (IANS) As India and New Zealand prepare to sign a Free Trade Agreement (FTA) on Monday, both sides are expected to benefit from expanded trade ties and improved market access, New Zealand Prime Minister Christopher Luxon has said.Taking to the social media platform X, Luxon said, “We will sign a Free Trade Agreement with India on Monday.”In a video message, Luxon said the agreement would improve market access for New Zealand exporters, particularly manufacturers of marine jet…
New Delhi, April 10 (IANS) The government has approved 52 new applications under Round III of the Production-Linked Incentive Scheme for Textiles, which are expected to attract an investment of Rs 6,708 crore. While five of these applications are for man‑made fibre apparel, 19 are for man‑made fibre fabrics, 18 for technical textiles, and 10 for the multiple segment, according to a statement issued by the Ministry of Textiles on Friday.The investment in these textile manufacturing uni…