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India's Finance Minister, Nirmala Sitharaman, announced in her budget speech that import taxes on 25 critical minerals, including copper, lithium, and cobalt, will be removed to support the development of renewable electricity and aerospace sectors. The government also plans to develop small-scale nuclear reactors through partnerships with private companies and increase funding for research and development. These initiatives aim to accelerate India's adoption of clean energy and reduce its reliance on China, which currently holds a significant share of the world's processing capabilities. However, experts caution that significant scientific breakthroughs are still needed to mainstream safe small-scale nuclear energy. [Extracted from the article]

India has reduced its import tax on gold in order to support the country's jewelry manufacturing industry. The government has lowered the duty on gold from 15% to 6% in an effort to promote domestic value addition in gold and precious metal jewelry. This move is expected to provide relief to consumers following a rise in local gold prices. The reduction in customs duty may lead to a decline in domestic prices and an increase in demand. Additionally, the import levy on silver, platinum, and palladium has also been reduced. [Extracted from the article]

India's Finance Minister, Nirmala Sitharam, announced in her budget speech that import taxes on 25 critical minerals, including copper, lithium, and cobalt, will be removed to support the development of renewable electricity and aerospace sectors. The government also plans to develop small-scale nuclear reactors through partnerships with private companies and increase funding for research and development. Additionally, a Critical Mineral Mission will be initiated to enhance local refining, recycling, and acquisitions of assets outside India. However, experts caution that while small-scale nuclear energy has potential, significant scientific breakthroughs are still needed. [Extracted from the article]

India is considering reducing the import duty on wheat to control rising prices caused by hoarding by traders. The country typically produces enough wheat to be self-sufficient, but a potential tax cut could lead to large-scale imports for the first time in six years. The government has also imposed stock limits on wheat to prevent hoarding, and concerns about dwindling inventories are expected to continue until the next crop is harvested in March. The nation's weather department has warned of below-normal precipitation, raising concerns about the output of water-intensive crops like rice and sugar. [Extracted from the article]

India has removed import duties on certain varieties of pulses in an effort to control food inflation during the national elections. This move is expected to protect Indian consumers from rising prices but may discourage local farmers from increasing crop production. However, it could benefit drought-hit farmers in Australia, a leading exporter of pulses, as they may see an increase in demand from India. The decision has received mixed reactions, with some expressing concerns about the impact on domestic prices and others welcoming the relief for consumers. Additionally, the government has lifted a ban on onion exports but imposed a duty on overseas shipments of the commodity. [Extracted from the article]

India is reducing import taxes on mobile-device components in an effort to boost smartphone production and attract companies like Apple to manufacture in the country. Prime Minister Narendra Modi aims to make India a global hub for electronics manufacturing and exports, and hopes to build an ecosystem of domestic suppliers. Lower import tariffs will make assembly more cost-effective and could encourage manufacturers to export devices as domestic smartphone consumption slows down. India's smartphone exports have already doubled in the past fiscal year. [Extracted from the article]

India's government has stated that it is not currently considering reducing taxes on imported electric vehicles, which could potentially delay Tesla's entry into the Indian market. The government's focus is on promoting domestic and foreign investment in the electric vehicle industry through its "Make-in-India" initiative and incentive programs. This announcement comes as a surprise, as there were previous discussions about allowing international companies to import electric cars at concessional tax rates if they committed to manufacturing in India. The negotiations between Tesla and India have faced challenges in the past, with the government pushing for local production and Tesla seeking lower taxes. [Extracted from the article]

The UK's demand for import concessions on electric vehicles is one of the few outstanding issues in the free trade talks. (Bloomberg) -- India is proposing reducing import taxes on some electric vehicles from the UK in an effort to clinch a free-trade deal between the two nations by the end of the year, according to two people familiar with the discussions. [Extracted from the article]

(Bloomberg) -- India imposed a 40% levy on the export of onions as Prime Minister Narendra Modi escalates efforts to bridle inflation ahead of key elections. India's inflation has surged to a 15-month high, building urgency for the government to take measures to contain spiraling food prices. [Extracted from the article]

(Bloomberg) -- India, the world's second-biggest wheat producer, may abolish an import tax so that buying the grain from overseas becomes more attractive, a move aimed at cooling domestic prices. There are signs India's most-recent wheat harvest suffered another year of weather damage. [Extracted from the article]

(Bloomberg) -- Reliance Industries Ltd., First Solar Inc. and Avaada Group are among winners of India's $2.4 billion incentives plan to encourage domestic manufacturing of solar modules. The country has levied import taxes to protect local makers, although it has had to relax a key non-tariff barrier to imports temporarily to prevent a slowdown in project installations. India will give out 139.4 billion rupees to boost local module output, state-run Solar Energy Corp. of India said in a note on its website, indicating there were not enough bidders for all of the 195 billion rupees ($2.4 billion) on offer. [Extracted from the article]

(Bloomberg) -- Efforts by Indian diamond traders to secure more uncut product from Russia and allay an export slump in the world's biggest polishing hub are being hampered by currency risks. Supplies from Russia to India have fallen 40% since April, leading to a knock-on slump in exports from the Asian nation. [Extracted from the article]

Reserve Bank of India Governor Shaktikanta Das has said the central bank uses a multi-pronged intervention approach to minimize actual outflows of dollars and won't allow a runaway rupee depreciation. (Bloomberg) -- India tightened exports of oil and imports of gold in an all-out effort to rein in the rupee that plunged to a fresh record Friday. [Extracted from the article]

New Delhi imposed taxes on gasoline, diesel and aviation fuel, along with a levy on crude oil produced from local fields, according to the notification. (Bloomberg) -- India has levied taxes on export of petroleum fuels and on local production of crude oil that are benefiting from rising international prices, according to a government notification. [Extracted from the article]

India's gold purchases had been picking up in the past year after buying slumped during the pandemic and the country had imported the most gold in a decade in 2021, according to the World Gold Council. (Bloomberg) -- India increased its import tax on gold in a surprise move that aims to reduce inflows to the world's second-largest consumer, after the country's ballooning trade gap pushed its currency to a record low. [Extracted from the article]

"Such incremental costs will have an adverse impact on the perception of the renewable energy industry, which is seen as a cost-effective alternative to conventional sources of energy", the group said in a letter to Renewable Energy Minister Raj Kumar Singh. (Bloomberg) -- India's renewable energy ministry has backed a demand to shield some projects from impending taxes on solar equipment imports, after generators said the added costs will slow the nation's shift to clean energy. "We have requested Ministry of Finance to consider grandfathering of basic customs duty for projects bid out before March 9, 2021", the renewable energy ministry said in response to emailed queries, indicating support for exempting these projects. [Extracted from the article]

(Bloomberg) -- Indian renewable power generators are seeking relief from looming taxes on imported solar equipment that they argue will slow the nation's switch to cleaner energy. "Such incremental costs will have an adverse impact on the perception of the renewable energy industry, which is seen as a cost-effective alternative to the conventional sources of energy", the group said in a letter to Renewable Energy Minister Raj Kumar Singh. [Extracted from the article]

Keywords: AGR; ALLTOP; ASIA; BUSINESS; CMD; CMDTOP; CONS; CONSS; COS; INDIA; INDUSTRIES; MARKETS; NRG; TOP; WORLD EN AGR ALLTOP ASIA BUSINESS CMD CMDTOP CONS CONSS COS INDIA INDUSTRIES MARKETS NRG TOP WORLD Refiners of edible oils in India, one of the world's biggest consumers, face the prospect of shuttering factories because the structure of import taxes makes supplies of processed oils from overseas more attractive, according to the Indian Vegetable Oil Producers' Association. As much as 30% of the country's refining capacity could shift to Indonesia and Malaysia, the top palm oil producers, if the situation continues, said Sudhakar Desai, the group's president. [Extracted from the article]

The government raised tariffs on imports heaphones, loudspeakers, smart meters used by power distribution companies and solar panels as part of the budget proposals introduced in parliament on Tuesday. (Bloomberg) -- India increased duties on a wide set of imported goods ranging from headphones to solar panels to bolster local manufacturing and generate jobs, Finance Minister Nirmala Sitharaman said Tuesday. [Extracted from the article]

(Bloomberg) -- India is sticking to its plan to tax imports of solar cells and modules from April 1 despite rising costs as it seeks to build a domestic manufacturing industry to support a record growth in renewables installations. The country will levy 40% basic customs duty on imports of solar modules and 25% on solar cells from the start of the next financial year, according to the annual budget presented by Finance Minister Nirmala Sitharaman on Tuesday. [Extracted from the article]

(Bloomberg) -- India increased duties on a wide set of imported goods ranging from headphones to solar panels to bolster local manufacturing and generate jobs, Finance Minister Nirmala Sitharaman said Tuesday. The government raised tariffs on imports heaphones, loudspeakers, smart meters used by power distribution companies and solar panels as part of the budget proposals introduced in parliament on Tuesday. [Extracted from the article]

This article focuses on the efforts of the Indian government toward a more productive textile industry in the country. Having a diversified textile industry consisting of spinning, weaving and processing, the government has steadily raised its budget for investments in plants and textile machineries. The government has also removed the woven and knitted sectors from the limits fixed for the small-scale sector. Foreign direct investments has been permitted in the garment sector through joint ventures. In line with these developments, the government has been controlling the country's inflation rate and import duties. With regards to labor reforms in the industry, nightshift working for women has been approved.

Keywords: TSLA; ALLTOP; ALTNRG; ASIA; AUTOMOTIVE; BUSINESS; CMD; CONS; CONSD; COS; ELQ; GOV; INDIA; INDUSTRIAL; INDUSTRIES; NORTHAM; NRG; TRN; US; WORLD; WWTOP; WWTOPAS EN TSLA ALLTOP ALTNRG ASIA AUTOMOTIVE BUSINESS CMD CONS CONSD COS ELQ GOV INDIA INDUSTRIAL INDUSTRIES NORTHAM NRG TRN US WORLD WWTOP WWTOPAS India's government has no plan to lower import taxes on electric vehicles, a potential blow to Tesla Inc. that is looking to break into one of the world's biggest emerging car markets. QX7GHODWLU6D (Bloomberg) -- India's government has no plan to lower import taxes on electric vehicles, a potential blow to Tesla Inc. that is looking to break into one of the world's biggest emerging car markets. [Extracted from the article]

(Bloomberg) -- India will levy a 40% customs tax on imports of solar modules from April next year to cut dependence on foreign supplies and boost domestic manufacturing of the equipment, the renewable energy ministry said. India currently levies a 14.5% safeguard tax on imports of solar cells and modules from most countries, including China, which is set to expire in July. [Extracted from the article]

(Bloomberg) -- India is opening its doors to cheaper steel, cutting taxes on shipments of the alloy amid surging prices at home as it focuses on building infrastructure to revive the economy. The government also removed an import tax on steel scrap until March 31, 2022, and halved the tariff to 2.5% on copper scrap, Sitharaman said. [Extracted from the article]

(Bloomberg) -- India cut an import tax on gold as prices rallied to record highs last year and to curb inflows of illegal supplies in the world's second-largest consumer. At the same time, smuggling became more lucrative as Indian prices were more than 15% higher than overseas supplies due to the import tax and other local taxes. [Extracted from the article]

(Bloomberg) -- Gold consumption in India, the world's second-biggest buyer, is expected to rebound in 2021 after plunging to the lowest in more than two decades, according to the World Gold Council. India imports almost all the gold that it consumes and the duties plus local taxes make it expensive for buyers. "In such a scenario, the current high tax on gold increases the lure of smuggling, so a duty cut to reasonable levels is absolutely necessary, along with tax concessions for recycling gold, innovations and digital interventions.". [Extracted from the article]

(Bloomberg) -- India's renewable energy ministry has proposed imposing customs duties on some solar power equipment starting Aug. 1 as part of the country's goal of becoming self-sufficient, the Press Information Bureau said in a statement. India currently levies a 15% safeguard duty on imports of solar cells and modules from China and Malaysia. [Extracted from the article]

India's government needs to stop worrying about budget deficit targets and use any cash windfall to support its economy as the coronavirus hurts global growth, according to the State Bank of India. India, the world's third-biggest oil consumer, this month raised some excise and import taxes on gasoline and diesel as crude oil plunged and demand collapsed. [Extracted from the article]

Since then, many Indian palm oil buyers have started shifting to Indonesia amid concerns that Modi's government may restrict purchases from Malaysia or hike import taxes. Malaysia's refined palm oil shipments to India surged to about 2.66 million tons last year from 650,000 tons in 2018, while exports of the crude variety dropped to 1.75 million tons from 1.87 million tons, according to Malaysian Palm Oil Board data. [Extracted from the article]

(Bloomberg) -- Gold imports by India, the world's second-biggest consumer, may rebound in 2020 from a three-year low as consumers step up purchases after holding off last year, according to the All India Gem & Jewellery Domestic Council. Gold prices in India rose nearly 25% last year, the biggest increase since 2011, and touched a record earlier this year. [Extracted from the article]

(Bloomberg) -- India's metal producers want higher taxes on imports of aluminum and copper scrap after China's decision to restrict purchases flooded the global market with supplies. Inflows of aluminum scrap, which account for more than 85% of the total, are about $400 to $500 a ton cheaper than primary aluminum because of a lower import tax and discount to London Metal Exchange prices, according to Sharma. [Extracted from the article]

(Bloomberg) -- Surging gold prices in India are keeping customs officials on their toes. Gold in India touched a record high of 39,885 rupees ($563) per 10 grams in early September on higher import taxes and as the U.S-China trade conflict and looser monetary policy boosted global benchmark spot prices. [Extracted from the article]

(Bloomberg) -- India, the world's biggest buyer of palm oil, is considering a proposal to further increase import taxes on the refined variety to boost local processing and cut dependence on overseas purchases, according to people with knowledge of the matter. India's refined palm oil imports climbed more than 30% from a year earlier to 2.61 million tons in the 11 months ended Sept. 30. [Extracted from the article]

(Bloomberg) -- Gold imports by India in July tumbled to the lowest monthly inflow in more than three years as demand paused following record high prices in the domestic market. "Physical gold demand in India will remain fragile due to higher prices following the global price movements and increased import duty", Abhishek Bansal, chairman of Mumbai-based commodity trader ABans Group of Companies, said by mail. [Extracted from the article]

(Bloomberg) -- Gold recycling in India, which trails only China in consumption, is forecast to climb to the highest since 2012 as a surge in local prices pushes people to cash in on their jewelry, according to the World Gold Council. Supplies through old gold sales may rise to around 100 tons this year, P.R. Somasundaram, managing director for India at the gold promotion body, said in an interview. [Extracted from the article]

India raised the customs duty on wheat to 40 percent from 30 percent, as the country is set for a record rise in output for the third year in a row. AttributionAnto Antony: editor primarySam Nagarajan: editor secondaryAnindya Upadhyay: by reporterShamim Adam: editor responsible. [Extracted from the article]

The basic customs duty on all Pakistan exports to India will be increased to 200 percent immediately, Finance Minister Arun Jaitley said in a post on Twitter. Finance Minister Asad Umar said withdrawal of most-favored nation status by India won't have any consequences for the economy. [Extracted from the article]

Crude palm from Malaysia, Asean countries will be taxed at 40% Prices have slumped about 15 percent this year due to rising supplies from Indonesia and Malaysia and lackluster demand from China and India. [Extracted from the article]

India's immense appetite for gold means smugglers are getting more creative to bypass the country's high import tax. The world's second-biggest consumer raised import taxes three times in 2013 to control a record current-account deficit, with the rate still standing at 10 percent. [Extracted from the article]