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[ad_1] The free trade agreement between India and the UAE has come into effect on Sunday, under which domestic exporters in various sectors like textiles, agriculture, dry fruits, gems and jewellery will get duty-free access to the UAE market. In a symbolic gesture for operationalising the agreement, Commerce Secretary BVR Subrahmanyam handed over Certificates of Origin to three exporters from the gems and jewellery sector here. These consignments to Dubai will not attract any customs duty under the pact, which is officially termed as Comprehensive Economic Partnership Agreement (CEPA). The Central Board of Indirect Taxes and Customs (CBIC) and the Directorate General of Foreign Trade (DGFT) has issued relevant notifications for the operationalisation of the agreement from May 1. “Today, CEPA between India and the UAE is coming into force. Today, we are sending the first consignment from India to UAE, which will benefit from this agreement,” Subrahmanyam said here. The UAE is the second or third largest trading partner of India and that country is a gateway to the middle east, North Africa, Central Asia and sub-Saharan Africa, he noted. The trade pact will help in taking the two-way trade to USD 100 billion in five years from the existing USD 60 billion. “USD 100 billion is just a starter…As we go along, it will become USD 200 billion and then USD 500 billion in the years to come,” the secretary said, adding 99 per cent of “our exports will go to zero duty in UAE”. The gems and jewellery sector contributes a substantial portion of India’s exports to the UAE and is expected to benefit significantly from the tariff concessions obtained for Indian products under this pact. Overall, India will benefit from preferential market access provided by the UAE on over 97 per cent of its tariff lines (or goods), which account for 99 per cent of Indian exports to the UAE in value terms — particularly from labour-intensive sectors such as textiles, leather, footwear, sports goods, plastics, furniture, and engineering products. Underscoring the need for Indian products to be competitive in the international market, the secretary said that there was a need to build and augment domestic capacities. He also informed that India is negotiating trade agreements at a very fast pace with complementary economies, including the UK, Canada and the EU. Exports of goods and services account for about 22-23 per cent of India’s GDP, Subrahmanyam noted. “Our vision is that we should take India to a point where 25-30 per cent of our GDP is (from) exports,” he added. He asserted that the Department of Commerce has also been strengthening itself to be future-ready and meet the challenges of tomorrow with a focus on trade promotion. “We will recast the department. You will change in the next few months…We will be setting up a huge trade promotion wing,” the secretary said, adding the focus would also be there on data, data analytics and market intelligence. About trade pacts, he said there are two-way deals and both sides should feel that they have got something. The UK, Canada and the EU are all developed economies and they have huge potential for the kind of stuff that “we make” like apparel, entire textiles, leather, chemicals, gems and jewellery, the secretary noted. Further, he said that the ministry is analysing a lot of trade pacts and is trying to correct them. “We are planning to summarise, simplify the agreement (with UAE for the industry) and put them in easy bundles so that everybody can know where do I have the benefit if I go through this FTA. We will do that before the end of May,” he added. [ad_2] Source link

[ad_1] When it comes to innovative appraisal tech, there’s no denying that Reggora continually has its finger on the pulse. With first hand knowledge of how complex and time consuming appraisals can be, Reggora is motivated to streamline and modernize the process, benefiting appraisers, lenders and buyers themselves.  The leaders behind the continually evolving appraisal tech solutions at Reggora know exactly what it’s like to deal with inefficient appraisal processes. Before founding Reggora, Brian Zitin and Will Denslow, co-founders, launched a successful real estate brokerage. It was during this time that the two were exposed to the shortcomings of the appraisal and valuation process and took the initiative to transform it themselves.  “The biggest pain point that Reggora addresses is the amount of time and effort it currently takes to complete an appraisal,” Zitin said. “From ordering, scheduling, reviews, and delivery and payments, we are on a mission to deliver drastically shorter turn times.”  With its modern appraisal management platform, Reggora is focused on reducing cycle times so that lenders can reduce operational costs and increase profitability—incredibly important in today’s shifting market. Lenders on the Reggora platform have reduced turn times by up to 35%, reduced revision rates by up to 50% and claim that they could not have survived the refi-boom without it.  Faster turn times, along with features such as streamlined payment processing, are also incredibly important to the borrower experience. In addition, loan officers can act as trusted advisors to the borrower and keep referral centers happy, with 24/7 visibility into the appraisal process, which historically has been considered the “black box” of the mortgage process.   The Reggora platform also uses Uber-style algorithms to help ensure that appraisers are assigned to jobs in the right locations and at the right times. Reggora’s modern framework has the ability to seamlessly integrate with each lender’s current tech stack, helping guarantee that stakeholders are given the information they need when they need it.  While Reggora focuses on the future of appraisal and valuation, the founders understand that the best tech isn’t rushed.  “We are hyper-focused on streamlining and shortening the overall appraisal process; however, it’s crucial that speed does not come at the expense of quality,” Zitin said.  Reggora’s platform automation helps lenders manage requirements such as fee redisclosures and document delivery while speeding up the early part of the appraisal process and allowing for configurable automation.  Lenders and appraisers alike continue to count on Reggora’s reputation for future-ready modernization and top tier technology that saves time, reduces costs and improves their bottom line. By helping clients eliminate the need for manual work, Regorra has received shining reports from customers who have benefited big from the automated platform.  As appraisal modernization continues to take shape, Reggora is uniquely positioned to lead its customers through the ever changing landscape. While the world of real estate increases its reliance on tech products, Reggora is eager to continue providing innovative and adaptable solutions for lenders and appraisers as they forge into the future of automation. Brian Zitin, Co-Founder and CEO Brian Zitin is responsible for the company’s overall vision and direction, ensuring Reggora stays focused on serving the best interests of the industry and its customers. Will Denslow, Co-Founder and CTO Will Denslow leads all engineering strategies and initiatives, ensuring Reggora delivers innovative, agile and scalable solutions to its lender customers and appraisal vendors. Kevin Flynn, Vice President, Product  Kevin Flynn leads product innovation and development for Reggora and works with a team of people focused on user feedback to ensure the best possible product is delivered to customers. The post Reggora is on a mission to deliver shorter turn times with its modern appraisal management platform appeared first on HousingWire. [ad_2] Source link

[ad_1] Russia-Ukraine war: Civilians evacuate Mariupol’s Azovstal plant  Al Jazeera English Ukrainians Sheltering In Mariupol’s Steel Plant Running Out Of Time  NBC News Ukrainians plead for Mariupol rescue; Russian advance crawls  The Associated Press Mariupol mayor calls situation at steel mill “dire”  CBS News Russian forces fail to capture key targets in eastern Ukraine  New York Post View Full Coverage on Google News [ad_2]

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[ad_1] The government on Saturday said the second phase of mandatory hallmarking of gold jewellery and artefacts will come into force from June 1 this year. Gold hallmarking is a purity certification of the precious metal and was voluntary in nature till June 16, 2021, when the government decided to implement mandatory gold hallmarking in a phased manner. In the first phase, 256 districts of the country were covered. The second phase of the mandatory hallmarking, the consumer Affairs Ministry said, will cover additional three caratages of gold jewellery/artefacts (ie 20, 23 and 24 carats) and 32 new districts, wherein an Assaying and Hallmarking Centre has been set up post-implementation of the first phase. The Centre has notified the order in this regard and will come into force from June 1, 2022, the ministry said in a statement. Nodal agency Bureau of Indian Standards (BIS) has successfully implemented the mandatory gold hallmarking in 256 districts of the country with effect from 23 June 2021, wherein more than 3 lakh gold articles are being hallmarked with Hallmark Unique Identification (HUID) every day, it added. Further, the ministry said the BIS has made a provision to allow a common consumer to get the purity of their unhallmarked gold jewellery tested at any of the BIS recognized AHCs. The AHC will undertake the testing of gold jewellery from common consumers on priority and provide a test report to the consumer. The test report issued to the consumer will assure the consumer about the purity of their jewellery and will also be useful if the consumer wishes to sell the jewellery lying with him, it said. The charge for testing gold jewellery up to 4 articles is Rs 200. For 5 or more articles, the charges are Rs 45 per article, it added. The authenticity and purity of the hallmarked gold jewellery items with HUID number, purchased by consumers, can also be verified by using ‘verify HUID’ in the BIS CARE app which can be downloaded from the play store, it added. [ad_2] Source link

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[ad_1] China state planner sets out irregular price-pushing behaviours for coal [ad_2] Source link

[ad_1] India’s Vedanta is in talks with banks to raise debt of $2.5 billion-$3 billion to bolster its semiconductor and display manufacturing plans as it races to become the country’s first chipmaker, a senior company official told Reuters on Saturday. The oil-to-metals conglomerate decided in February to diversify into chip manufacturing and formed a joint venture with Taiwan’s Foxconn. It has a total planned investment outlay of $20 billion. Vedanta is seeking incentives from Prime Minister Narendra Modi’s federal government and is also in talks with several Indian states. After getting subsidies, and once its definitive agreements are in place, the company plans to raise bank debt of as much as $3 billion. “We have financial banking relationships across India. We are talking to them,” said Akarsh Hebbar, Vedanta’s Global Managing Director of Display and Semiconductor Business. The company is also seeking a chief executive for its joint-venture with Foxconn, Hebbar said, adding that Foxconn employees will be deployed for its semiconductor plant, which is likely to start operations in 2025. Vedanta is seeking incentives such as 1,000 acres (405 hectares) of free land, and cheaper water and power from state governments as part of its foray into semiconductors and displays, Reuters exclusively reported on Thursday. The company is targeting mid-May for site selection from a state, and is in “advanced talks” with Gujarat and Maharashtra in west and Telangana in south India, Hebbar said on the sidelines of country’s first semiconductor conference, being held in the tech hub of Bengaluru. It has also approached states of Karnataka as well Odisha for its plants, and is awaiting government responses on possible incentives it can get, he added. The company is hopeful of a return on investment of 10-15% over 15-20 years and a “breakeven may happen somewhere in the middle,” he added. On Friday, Modi and his IT ministers outlined plans for more investment incentives, telling the conference they wanted India to emerge as a key player in the global chips market, now dominated by manufacturers in Taiwan and a few other countries. Hebber said semiconductors were critical to establishing India as a electronics hub and will attract suppliers and device assemblers to setup base in India. “The same revolution that happened in China will end up happening here,” he said. India’s semiconductor market is estimated to reach $63 billion by 2026, compared with $15 billion in 2020, the government says. [ad_2] Source link