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Mumbai customs delays Air India flight on suspicion of gold smuggling

MUMBAI: The Mumbai customs officials deferred Air India flight and delayed it for 45 minutes, on suspicion that it was carrying smuggled gold. An Air India flight was delayed by 45 minutes after Mumbai Customs officials delayed its take-off procedure on suspicion that it was carrying smuggled gold. Eventually, it turned out to be a misunderstanding, since officials had already ... Read More »

US steel industry accuses WTO of favouring India

WASHINGTON: The American steel industry loudly criticised a WTO ruling against the US imposing high duty on imports of certain Indian steel products, an order India hailed as a “significant victory” that will help its domestic manufacturers and exporters. “The WTO decision today significantly weakens the effectiveness of US trade laws,” said Thomas J Gibson, CEO and president of American ... Read More »

Indian seeks FTA with Russian-led Customs union

New Delhi: India will raise the issue of starting work on a free trade agreement with the Customs Union – comprising Russia, Kazakhstan and Belarus – when Russian President Vladimir Putin arrives in New Delhi later this week. According to the sources, that India will egg on Moscow to steer the process for a comprehensive economic cooperation agreement (CECA) within ... Read More »

U-turn on economic policy spurs gold smuggling in India

MUMBAI: India’s gold jewellery market might resume “normality” after facing the difficulties due to government’s highly controversial economic policy. The government withdrew controversial policy, yesterday which in turn, dramatically increased gold smuggling. In a statement issued on Friday 28 November, the Reserve Bank of India announced, “It has been decided by the Government of India to withdraw the 20:80 scheme ... Read More »

FTA with Customs Union on the table during Putin visit

NEW DELHI: India will take up the issue of starting work on a free trade agreement with the Customs Union – comprising Russia, Kazakhstan and Belarus – when Russian President Vladimir Putin arrives in New Delhi later this week. According to the sources, that India will egg on Moscow to steer the process for a comprehensive economic cooperation agreement (CECA) ... Read More »

India wants FTA with customs union, eyes Russian help for CECA within EEC

NEW DEHLI: India want to take up the issue of starting work on a free trade agreement (FTA) with the Customs Union(CU) comprising Russia, Kazakhstan and Belarus when Russian President Vladimir Putin arrives in New Delhi later this week. A senior official told that India will egg on Moscow to steer the process for a comprehensive economic cooperation agreement (CECA) ... Read More »

Two Indians arrested for evading customs

KATHMANDU: Two Indian nationals named Amit Kumar Gulahi aged 33 and Bindar Singh aged 66 were caught while they were trying to escape customs from Kalanki of KMC-14. At least 90 mobile phones were taken in custody. According to police, the duo has been identified. Amit Kumar Gulahi is from Motihari and Bindar Singh is from New Delhi of India. ... Read More »