India: Laptop import restrictions will not be postponed!

NO.1 India won't delay laptop import restrictions

According to foreign media reports, the Indian government recently stated that it will not postpone the proposed import restrictions on laptops, personal computers and tablets.

The restrictions, which include mandatory licensing requirements for bulk imports of these items, will come into effect on November 1, 2023. Major manufacturers had asked for an extension of the transition period of 6-12 months during a meeting with Rajeev Chandrashekhar, Minister of State for the Ministry of Electronics and Information Technology (MeitY). Alkesh Kumar Sharma, Secretary, Ministry of Electronics and Information Technology (MeitY), said the government was satisfied with the response received by the PLI scheme for large electronics.

Hence, there is no need to give these companies more transition time to start manufacturing in India. It is reported that so far, the department has received 58 applications for registration under the scheme, including both large and small enterprises, both Indian and foreign enterprises.

NO.2 The prices of 4 commodities in Vietnam are rising sharply

According to data from the Vietnam Commodity Exchange (MXV), the prices of four commodities in Vietnam are rising. Cotton, sugar and coffee all rose sharply in MXV's international trades, the data showed. Among them, sucrose and white sugar rose by 4.5% and 3.26% respectively.

MXV said that the reason for the increase in sugar prices is that India’s sugar production has dropped sharply due to weather problems. It plans to stop exporting sugar from October, and the price of sugar commodities has risen accordingly; cotton production has also declined due to the weather in the United States. Rising; Arabica coffee and Robusta coffee rose by 2.1% and 3.13% respectively; as of last week, prices of all metal varieties in Vietnam rose simultaneously.

In terms of precious metals, the prices of silver and platinum fell for five consecutive weeks, and the price of gold returned to the mark of ,900 per ounce, ending a four-week losing streak.

NO.3 High inflation in the UK continues to intensify

According to data from the Office for National Statistics of the United Kingdom, the consumer price index (CPI) in the United Kingdom rose by 6.8% year-on-year in July. Since April last year, the UK inflation situation has been deteriorating. In October last year, the UK's CPI rose by 11.1% year-on-year, hitting a 40-year high, and then began to fall slightly. In June this year, the CPI rose by 7.9% year-on-year.

Key indicators such as wage growth in Britain suggest some risks from more persistent inflationary pressures may have begun to materialize, the Bank of England said. In order to control inflation, the Bank of England has raised interest rates 14 times since December 2021, with the benchmark interest rate rising to 5.25%. Economists expect the Bank of England could hike rates again next month as core and services inflation remain elevated.

NO.4 South Korea’s retail sales in July increased by 5.9% year-on-year

South Korea's Ministry of Trade, Industry and Energy recently stated that with the relaxation of epidemic restrictions, more and more people enjoy outdoor activities during summer vacations, driving South Korea's retail sales in July to increase by 5.9% year-on-year.

Data show that in July this year, the total sales of 25 major offline and online retailers in South Korea were 14.73 trillion won (about 11.12 billion U.S. dollars), compared with 13.9 trillion won in the same period last year. Sales of offline retailers were 7.43 trillion won, up 3.9 percent year-on-year. Sales on online platforms rose 8.1 percent to 7.3 trillion won.

Online platforms accounted for 49.6 percent of total sales in July, up from 48.6 percent a year earlier, the Ministry of Trade, Industry and Energy said.

NO.5 Amazon raises the free shipping threshold for non-Prime members

Amazon has quietly increased the amount some customers can spend to get free shipping on its site,media reported. Some Amazon customers without a Prime membership will now have to spend to get free shipping, up from before.

Only non-Prime members have the shipping threshold raised, and Prime members who pay .99 a month or 9 a year still get free shipping and other perks.

There are no changes to the shipping terms for Prime members. Amazon spokeswoman Kristina Pressentin has confirmed that the company is testing free shipping for non-Prime members with a minimum purchase of .