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The economic liberalisation in India refers to the series of policy changes aimed at opening up the country's economy to the world, with the objective of making it more market-oriented and consumption-driven. The goal was to expand the role of private and foreign investment, which was seen as a means of achieving economic growth and development.
A special economic zone (SEZ) is a geographical region that has economic laws that are more liberal than a country's domestic economic laws. India has specific laws for its SEZs. India was one of the first countries in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set ...
India Mauritius Comprehensive Economic Cooperation and Partnership Agreement CECPA 22 February 2021 1 April 2021 [7] Thailand: India Thailand Free Trade Agreement FTA 9 October 2003 1 September 2006 [7] Singapore: India Singapore Comprehensive Economic Cooperation Agreement CECA 29 June 2005 1 August 2005 [7] South Korea
The Concurrent List or List-III (Seventh Schedule) [1] is a list of 52 items (though the last subject is numbered 47) given in the Seventh Schedule to the Constitution of India. It includes the power to be considered by both the union and state government. The legislative section is divided into three lists: Union List, State List and
In the year 2024–2025, gold and its finished items (HS code 71) were the second-largest traded items with 558.465 billion US$ worth imports and 41.692 billion US$ worth re-exports after value addition, and a significant amount of this Gold is being imported from Japan as Gold Chemical Compounds to save duty and import tax free under India ...
The tax is to be paid by a registered trader within 40 days. As per the rules, every trader whose annual turnover of purchase and sales of the goods included in the taxable schedule is not less than ₹ 5000 and if the annual turnover of purchase and sales of all the goods is not less than ₹ 1,00,000 (one lakh) is supposed to be registered with the local civic body i.e. municipality.
In Nepal SEZs laws were formulated in 2016 in the form of Special Economic Zone Act (2016). The laws were subsequently revised in 2019. [39] The industries inside the Special Economic Zones are given various facilities and in return they have to commit to export a minimum of 60% of their production to the foreign market. [40]
[349] [350] Foreign trade accounted for 48.8% of India's GDP in 2015. [351] Globally, India accounts for 1.44% of exports and 2.12% of imports for merchandise trade and 3.34% of exports and 3.31% of imports for commercial services trade. [350] India's major trading partners are the European Union, China, United States and United Arab Emirates ...