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Corporate Update

Monday, January 12, 2015

BSE Currency Derivatives Turnover Crosses INR 22,972 Cr
Keeping up the trend, the turnover of the currency derivatives segment at BSE reached another milestone by crossing the INR 22,972 cr mark today. This is the highest currency derivatives turnover recorded by any exchange in the country so far. The exchange is currently operating form its Disaster Recovery site based out of Hyderabad and the spike in turnover is a testament to the seamless trading offered by the exchange through its DR site. BSE had launched trading in currency derivatives in November 2013. Within thirteen months of its launch, the currency Derivatives turnover at BSE has become the highest in the country vis-à-vis other national exchanges.

TEXPROCIL Seeks Simplification of Advance Authorization Scheme
At the workshop on the Government's 'Make in India' programme held in New Delhi on December 29, 2014, The Cotton Textiles Export Promotion Council (TEXPROCIL) suggested ways to simplify the Advance Authorization Scheme. The Advance Licensing Scheme (Advance Authorization Scheme) is a duty exemption scheme which was introduced in 1976 with the objective of providing exporters with basic inputs at international prices. The Scheme allows duty free import of inputs required for export production. “The continuation of the Advance Authorization Scheme in the forthcoming Foreign Trade Policy 2014-19 would be crucial to encourage “Make in India” initiative”, said R.K.Dalmia, Chairman, TEXPROCIL. However, Dalmia pointed out that there is a need to simplify the scheme to make it more exporters friendly and less cumbersome.

GIA Brings Graduate Diamonds Diploma Programme To City
GIA will offer its internationally recognised Graduate Diamonds (GD) Diploma programme in Mumbai, a major consumer market for gems and jewellery and home to many well-known jewellery brands. The seven week programme commences on Jan. 29 and will be taught by experienced instructors at the Institute’s Mumbai campus. The course allows professionals and aspiring professionals from in and around Mumbai easy access to world-class gemology education. The GD programme combines theory and hands-on practical learning to teach students the GIA-created 4Cs (Colour, Cut, Clarity and Carat weight) of diamond quality and how to grade diamonds in the D-Z colour range.

CMAI Calls For Interactive Meeting Of Garment Trade & Industry
Readymade Garment manufacturers are facing payment delays & defaults from the trade. It has created payment crisis in the garment industry. The normal payment which was used to be received within 30 to 60 days, has now been delayed to 6 to 8 months or even more. In some extreme case, the buyers disappeared without making payment. In many cases, garment manufacturers used to try and wait even up to a period of 18 months to recover their legitimate dues. Then only the matters were getting referred to the arbitration committee of The Clothing Manufacturers Association of India (CMAI).

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