GOVT FINALISES SPECIAL PACKAGE FOR ELECTRONICS SECTOR

Article Abstract:

With a view to increase export earnings in the electronic sector, the Indian government has finalised a special package for the sector. In the new scheme, exports to Russia will get a 75 percent DEPB rate under rupee payment. Manufacturer exporters who are registered with Central Excise authorities can avail benefits from the new scheme. The manufacturer exporters have to obtain a license at the beginning of the year declaring the approximate value of their imports. The total value of such imports under production programme to be issued shall not exceed 200 percent of the previous year's exports or 200 percent of the average of the three years' exports, whichever is higher. The electronic sector will get the facility of private bonded warehouse for imports under Para 5.15 of the Exim Policy. The government has also proposed to bring down the customs duty gradually to zero for over 200 electronic items by 2005 AD. (gs)

Comment:

India: Exports to Russia will get 75% DEPB rate under rupee payment to increase export earnings in electronic sector

Other Electrical Equipment and Component Manufacturing, Electronics

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EU IMPOSES DUTIES ON INDIAN DRUGS

Article Abstract:

Provisional countervailing duties have been levied on bulk drug imports from India by the European union (EU). The duties cover three large groups of antibiotics and have been levied following an inquiry instigated by it in September 1997. The EU opines that India is violating the world trade organisation's rules by subsidising its exports. The provisional rates include, 12 percent duty for Orchid Chemicals of Chennai, 9.6 percent on Biochem Synergy of Indore and Harshita of New Delhi, 8.8 percent on Kopran of Mumbai and 6.6 percent on Lupin Laboratories of Mumbai. Torrent Pharmaceuticals of Ahmedabad, Vitara Chemicals of Mumbai and Gujarat Lyka Organics of Mumbai have attracted zero percent duty. The EU has levied a 14.6 percent duty on non cooperating exporters. Indian exporters will have to offer a security equal to the provisional duty amount for the goods to be cleared for free circulation within the EU. (ag)

Comment:

EU: Provisional countervailing duties have been levied on bulk drug imports from the country by region's union

European Union

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LUPIN FINALISES JV IN RUSSIA

Article Abstract:

Lupin Laboratories has decided on a marketing joint venture in Russia to trade in anti-tuberculosis and cephalosporin formulations. The new firm, Lupin Pragati Limited, will operate from St. Petersburg. It plans to hold about 63 percent equity and another trading firm. Pragati will hold the rest. The initial equity of Lupin Prgatic will be $20,000 which will be later taken to $250,000 on the setting up of a manufacturing facility. (uh)

Comment:

Will be the new company formed from a marketing joint venture in Russia by Lupin Laboratories

Organizational history, Russia, Parent-to-subsidiary activities, Lupin Laboratories, Lupin Pragati

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