Import Current Affairs, GK & News

Defence Canteens ban import of finished goods

The Government controlled Canteen Stores Department that operates canteens of defence forces are to ban the imported items. This is applicable to all the Fast Moving Consumer Goods and Liquor, consumer durables and footwear. Highlights Out of 5,500 items sold by the Canteen Store Department, more than 420 are imported. This data was provided by ..

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Web Portal launched to provide star rating of coal mines

The Ministry of coal launched web portal in New Delhi to provide star rating of coal mines. Based on the star rating the highest scoring mines are to be awarded. Highlights According to the new system, the mines scoring between 91% and 100% will get 5 star, below 91% and above 81% will receive 4 ..

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Devaluation of Currency

The Currency devaluation is the deliberate reduction in the value of a country’s currency against another currency. It is used by monetary authorities when they need to improve the country’s trade balance by increasing exports if and when the trade deficit becomes a problem for the economy. The monetary authority then sets a lower exchange ..

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Indo-China Protocol for Export Of Indian Chilli Meal

After a meeting held between Commerce Secretary of both India and China, the two countries signed a protocol for exporting of Indian Chilli Meal from India to China. Key Highlights of Meeting The meeting was held between India’s Commerce Secretary Anup Wadhawan and China’s General Administration of Customs of China (GACC) Vice Minister Li Guo, ..

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Inverted Duty Structure

Inverted duty structure is a situation where import duty on finished goods is low compared to the import duty on raw materials that are used in the production of such finished goods.  For example, suppose the tariff (import tax) on the import of tyres is 10% and the tariff on the imports of natural rubber which ..

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