Govt mulls raising duty on non-essential goods with annual import bill exceeding $1 billion
Many economists say only a substantial rise from October would point to a real recovery.
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The rupee has fallen almost 20 per cent in the first four months of FY14, forcing the government to consider raising import duties on gold and non-essential luxury items.
This could mean an end to the talks for a possible partnership between the two firms in the multi-brand retail space -- less than a year after 51 per cent foreign investment was allowed in the sector.
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Depreciating rupee a silver lining for some businesses amid the economic downturn.
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Diplomatic channels activated to keep India eligible for soft loans from World Bank affiliate, though rules show it's probably time we made way for the needier others.
For the first time in the last eight years, India would not have any representative for the post of deputy director general.
The MFN (Most Favoured Nation, meaning non-discriminatory treatment for each other) issue is of prime importance to India, as it wants to have greater access in the Pakistani markets.
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The trade deficit makes up an important part of the current account deficit, which had touched an all-time high of 4.8 per cent in 2012-13.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
Currently, India imposes 30-45 per cent duty on textile products from Pakistan.
In a meeting with the commerce minister, India Inc hammered Sharma on the collapse of investments, structural nature of the current account deficit and stagnant growth in agriculture.
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According to sector officials and watchers, the funding (among the largest so far in the segment) from its existing investors -- Naspers, Accel Partners, Tiger Global and Iconiq Capital -- might be a sign of confidence they have in the company but it's still unsure if it will be enough for Flipkart to turn a corner and become profitable.
A panel headed by Economic Affairs secretary Arvind Mayaram had suggested FDI limit be raised to 49 per cent in almost all sectors through the automatic route.
Scott Price is learnt to have conveyed to Sharma that Walmart remained committed to the India market.
Efforts to normalise trading relations expected during the first such meet on Saturday
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
Four new retailers from US, two from Germany may have shown interest in setting up shop in India.
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