Footwear sector allowed to import CKD/SKD kits

The Commerce Ministry has extended its foreign exchange balancing policy for permitting import of CKD/SKD (completely knocked down/semi-knocked down) kits by the footwear segment. Till now, the policy was being applied only to automobile manufacturers who were being issued special import licences under the MoU (memorandum of understanding) route for importing CKD/ SKD kits, with the undertaking that foreign exchange outflow will be balanced with exports within a particular period.

FDI: Manmohan's dig at Opposition

Given the track record of the previous non-Congress (I) governments at the Centre, it was likely that their coming to power again would reverse the flow of foreign direct investment into the country, said Dr. Manmohan Singh, Union Finance Minister on Sunday. “Frankly, I am not very clear about the foreign investment policies of non-Congress (I) parties,” Dr. Singh observed, while addressing members of the Calcutta Press Club. “I understand the BJP is in favour of an open door policy in regard to the manufacture of costly consumer durables while protecting the Indian business in mass consumption goods,” he said.

NHPC signs PPAs with 4 N-E States

The National Hydroelectric Power Corporal tion (NHPC) has signed power purchase agreements (PPA) with Assam, Meghalaya, Manipur and Tripura. The PPAs are to be valid for five years. The agreements provide for payment through letter of credit (LC) which will ensure confirmed payment to NHPC by the designated bank against the submission of a bill, a corporation release states.

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