The Appointments Committee of the Cabinet approved his appointment for a period of three years from the date of assumption of charge.
The proposal was made to India in April after the trade negotiators of the 15 countries met virtually.
A reading above 50 on the index indicates expansion while lower than that shows contraction. The data was collected from May 12-27 across around 400 service sector companies.
Government frees export of alcohol-based hand sanitizers except those in containers with dispenser pump
"Alcohol based hand sanitizers exported in containers with dispenser pump…are prohibited for export,” DGFT said in a notification. The government on May 6 had prohibited the export of all alcohol-based hand sanitizers.
Demand was subdued despite both input and output prices declining for a second straight month, signaling easing in overall inflation, which would give the central bank room to ease policy further. The RBI has already taken a series of aggressive policy actions, including a cumulative rate cut of 115 basis points, since the lockdown was imposed on March 25.
India called for effective use of flexibilities inherent in the Trade-Related Aspects of Intellectual Property Rights (TRIPs) to ensure access to essential medicines, treatments and vaccines to all at affordable prices, especially in the context of the Covid-19.
During his interaction with the captains of the pharmaceutical industry, and office-bearers of the pharma associations through the video conference, he also said that the country should become Aatmanirbhar in Active Pharmaceutical Ingredients (API).
With India losing its competitive edge in global textile and apparel sector, the government has decided to engage a consultant to improve the county’s performance.
The Directorate General of Foreign Trade amended the export policy for Paracetamol APIs to remove the restriction making its export “free with immediate effect. DGFT had restricted the exports of 26 bulk drugs and their formulations on March 3 to ensure there is no shortage of drugs in India but had freed 24 of them in April.
“While April was a washout with a 60% decline, the fall in exports in May will be 30-35%,” Goyal said at the Digital Summit on Exports organised by CII via video conferencing.
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