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The Commerce Ministry has taken action against 1,271 companies for misusing facilities under the export promotion scheme during the last three years, Parliament was informed on Wednesday.

The rupee on Thursday opened 3 paise higher at 71.32 against the US dollarNSE -0.27 % following sustained inflows by foreign funds.

India’s exports are contracting. In the export of garments, countries such as Bangladesh and Vietnam are beating India. Mint explains why trade tensions between the US and China, and the global economic slowdown do not fully explain the poor exports story.

Braving Opposition attacks that the economy is “slipping into recession,” Finance Minister Nirmala Sitharman said in the Rajya Sabha on Wednesday that there is no recession but admitted that the growth “may have come down”.

On 14 March 2018, the United States requested consultations with the Government of India under the WTO Dispute Settlement Mechanism on some of the export promotion programs maintained by India.

CHENNAI: MSME Technology Development Centre, Chennai, will conduct certified professional courses on cyber security essentials and project management here next month.

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