News Update

Musk defers India’s trip citing heavy Tesla obligationsIndia needs to design legislative pills to euthanise tax-induced expatriation!I-T- Exercise of jurisdiction u/s 263 is invalid if AO has taken particular view, which though, may not be only view, but certainly can be possible view : ITATTorrential rains cause havoc in Pakistan; 87 killedI-T- Additions framed on account of unexplained money upheld as assessee was unable to prove source of cash deposited in assessee's bank account : ITATUS imposes sanctions on 3 Chinese firms and one from Belarus for transfering missile tech to PakistanCX - Appellant has regularly filed statutory returns on monthly basis and the fact of clearance of goods and availment of credit was duly reflected in returns but same has not been examined by authorities below, impugned order is not sustainable: CESTATDubai terribly water-logged as it has no storm drainsST - When services are received from separate source & accounted separately in separate ledgers, there cannot be any question of clubbing them under one category: CESTATEU online content rules tightened against adult content firmsCus - The continuous suspension of license of Customs Broker without either conducting an inquiry or issuing a notice for revocation of license or imposition of penalty is bad in law and needs to be set aside: CESTATEV market cools off in US; Ford, GM eyeing gas-powered trucksApple China tosses out WhatsApp & Threads from App store after being orderedChina announces launch of new military cyber corpsRailways operates record number of additional Trains in Summer Season 2024GST - Assessing officer took into account the evidence placed on record and drew conclusions - Bench is, therefore, of the view that petitioner should present a statutory appeal: HC1st phase polling - Close to 60% voter turnout recordedMinistry of Law to organise Conference on Criminal Justice System tomorrowGST - To effectively contest the demand and provide an opportunity to petitioner to place all relevant documents, matter remanded but by protecting revenue interest: HCGovt appoints New Directors for 6 IITsNexus between Election Manifesto and Budget 2024 in July!Israel launches missile attack on IranEC holds Video-Conference with over 250 Observers of Phase 2 polls
 
India aiming at USD 1 trn worth of services exports by 2026: Prabhu

By TIOL News Service

NEW DELHI, JUNE 18, 2018: Services trade is growing faster than merchandise and such dynamic changes need to be captured in the global trading system, stated Suresh Prabhu, Minister of Commerce and Industry and Civil Aviation. He was speaking at the sixth Growth Net Summit, being held in New Delhi, organized by Ananta Center and Confederation of Indian Industry (CII) with Smadja &Smadja.

Services trade requires movement of people, unlike merchandise trade, said the Minister. He stated that India is aiming at a trillion economy by year 2026-27 and goods and services exports are targeted at trillion of this. Over the last year, goods and services exports grew by over 12%, he noted.

The government is working on a comprehensive strategy to boost services exports and billion will be spent to promote 12 champion services sectors. For the first time, a strategy of products in new markets is being developed. Exports are also being promoted in regions like Africa, Latin America and Central Asia, added the Minister.

Noting that the World Trade Organisation was created as part of a rules-based, multilateral, democratic and participatory institution for expanding global trade, he said that countries have recognized the value of global trade for fosteringgrowth and creating jobs. India is working with other countries to ensure that WTO remains relevant, he said.


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.




Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.