According to a four-member committee report, the farmers in Madhya Pradesh were distributed low-quality Chinese mini tractors from 2017 to 2019, under Krishi Yantrikikaran Yojana. Reportedly, the procurement was done without inviting bids. The report indicates that authorities violated many rules such as pushing MP-Agro as nodal agency, ghost beneficiaries and substituting DBT for power-tillers. "We have got the report and will take… read-more
After the Income Tax Department conducted a search operation against some Chinese entities, evidences gathered indicated that they were involved in money laundering and "hawala" transactions involving Hong Kong and US dollars. "Search action revealed that, at the behest of Chinese individuals, more than 40 bank accounts were created in various dummy entities, entering into credits of more than Rs.1000 crores over the period," said CBDT … read-more
Shortage of new smartphones due to supply chain restrictions, import barriers and production delays in the month of July, have resulted in a 30-40% drop in sales. Indian government manually screens every Chinese cargo arriving at ports. ITC India's Associate Research Manager, Upasana Joshi says that distribution barriers continue to exist in ports especially for Chinese-based vendors, so factories are operating at less than half capacity.
Courtesy: Money Control
Minister of Power, R K Singh said in a virtual press conference on July 3, that India will not import Chinese equipment for power distribution companies amid the border tensions with China. "We will not give permission for import from China and Pakistan. There could be a malware or Trojan horse in those (imports from China) which they can activate remotely (to cripple our power systems)," he added.
Minister of Micro, Small, and Medium Enterprises (MSMEs), Nitin Gadkari has requested Finance and Trade Ministries to permit the Chinese imports and consignments which are being held at ports across the country. A senior government official said that small and micro businesses have dependency on these Chinese imports as raw materials for manufacturing products.
The Chennai Customs BrokerÔÇÖs Association (CCBA) issued a circular, on June 23, regarding the delay in shipment of cargo to its members stating the goods and consignments from China are to be held as directed by customs all around the country. The cargos are being held at Port Terminals, Airports and all Container Freight Stations (CFSs). CCBA said the consignment which are ÔÇÿOut of ContractÔÇÖ (OOC) will be held… read-more
Courtesy: Brifly News