Govt mulls duty hike, trade barriers on 'non-essential' imports from China : Bulletin: Business Today
Business Today

Govt mulls duty hike, trade barriers on 'non-essential' imports from China

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BusinessToday.In | June 19, 2020

Mukesh Ambani's Reliance Industries set to buy stake in Future Group companies: report
Mukesh Ambani-led Reliance Industries is close to finalising a deal with Kishore Biyani's Future Group for buying stake in some group companies of the latter. An announcement in this regard is expected to come next month, Bloomberg reported while quoting sources in the know. The deal is expected to provide a leg-up to Reliance Industries' e-commerce ambition.

RIL becomes net-debt free months before target; fulfilled my promise to shareholders, says Ambani
Reliance Industries Limited has become a net debt-free company months before its target after raising over Rs 1,68,818 crore in just 58 days via a rights issue and by roping in global tech investors to buy minority stake in Jio Platforms Limited, the company announced on Friday.
RIL said along with the stake sale to BP in the petro-retail joint venture, the total funds raised stand at Rs 1.75 lakh crore. RIL's net-debt as on 31st March 2020 was Rs 161,035 crore. "With these investments, the company has now become net debt-free," the company stated.

Govt mulls customs duty hike, trade barriers on 'non-essential' imports amid stand-off with China
The Centre is planning to hike import duties and impose stricter trade barriers on certain products from China and other countries. Although the plan has been under review for the past few months, imports from China will be in its focus amid the ongoing border tensions with the country. The plan has been under review since at least April and is in line with Prime Minister Narendra Modi's Atma Nirbhar Bharat plan.

Coronavirus: Hospitals to face action if salaries of health workers not paid on time

Rs 800 crore silk imports from China can be stopped if local production ramped up
The Khadi and Village Industries Commission (KVIC) wants import of silk from China to be restricted in order to promote local production and create more jobs. While KVIC has been pushing for halting silk import, the proposal is likely to find favour from the government in the wake of border clashes with China.

AGR dues: No big relief; back to square one for Vodafone Idea
Finally, there seems to be some light at the end of the tunnel for Vodafone Idea and Bharti Airtel. On the AGR (adjusted gross revenue) issue, the Supreme Court has asked telcos to make some down payments if they want to avail staggered payments relief. The court, headed by Justice Arun Mishra, said that it's not possible for the court to pass orders without telcos making reasonable upfront payments. This is not a big relief for telcos who hoped that the apex court would allow them to make AGR payments over 20 years.

Coronavirus vaccine: Millions doses can be produced this year, 2 bn in 2021, says WHO
The World Health Organization hopes hundreds of millions of doses of coronavirus vaccine can be produced this year and 2 billion doses by the end of 2021, chief scientist Soumya Swaminathan said on Thursday. The WHO is drawing up plans to help decide who should get the first doses once a vaccine is approved, she said. Priority would be given to frontline workers such as medics, those who are vulnerable because of age or other illness, and those who work or live in high-transmission settings such as prisons and care homes.

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