Recovery from the second wave of the pandemic in April-May is expected to be swifter as compared to the first wave in 2020, according to the Confederation of Indian Industries (CII) chief executive officers (CEOs) poll of 119 top corporate. During the second wave, the lockdowns were largely designed to limit social gatherings and impact on economic activities was restricted. This helped arrest the impact of the second wave on economic growth, according to a survey conducted by the industry lobby group Confederation of Indian Industries (CII). About 59 per cent of the CEOs polled expect the recovery in sales to be better than in the first wave for their companies, while 46 per cent of them expressed a similar trend for their respective industry sectors.
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
In the last 12 months, over 7,500 Indians have applied for a resident permit.
Udit Raj, chairman of Indian Justice Party and president of the All India Confederation of SC/ST, hailed the United Progressive Alliance government's move to pass a constitutional amendment bill for promotion of for Scheduled Castes and Scheduled Tribes in both the government and private sectors. He regretted that the Bill could not be passed in the Parliament following agitation from the Bharatiya Janata Party.
The statement posted on SDPI's website alleged that freedom of speech, protests and organisation have been ruthlessly suppressed by the regime going against the basic principles of the Indian constitution.
The women's age group showpiece was to be held at five venues in the country --Kolkata, Guwahati, Bhubaneswar, Ahmedabad and Navi Mumbai -- from November 2-21. FIFA Under-17 Women's World Cup was postponed by football's governing body due to the worsening COVID-19 pandemic across the globe.
In the financial year 2018-19, the party collected Rs 5.17 crore as contributions and Rs 3.74 crore in FY 2019-20.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
The Supreme Court on Friday refused to "lay down any yardstick" for granting reservation in promotion to Scheduled Castes and Scheduled Tribes in government jobs.
Dalit leader Udit Raj, who is campaigning against Team Anna's version of the Lokpal Bill, on Tuesday demanded that corporates, NGOs and media should be brought under the anti-corruption ombudsman to make the law "more effective". "If there is no representation of plurality, I don't think this law will be successful," the National Chairman of All India Confederation of Scheduled Caste/Scheduled Tribe Organisations said.
Backed by the China-plus-one policy, India's textile and apparel exports have seen a 53 per cent growth during the April-November period of the current fiscal year at around $26 billion. This compares to the figure of $17 billion during the same period in FY21. According to Wazir Textile Index, all major companies including Welspun, Vardhman, Trident, KPR Mills, Indo Count, RSWM, Filatex, Nahar Spg and Indorama have posted higher sales during the first half of the current fiscal year compared to the pre-pandemic year.
The show-cause notice dated February 8 by DCGI V G Somani cited a Delhi high court order dated December 12, 2018, which prohibits online sales of medicines without a licence.
The Union home ministry issued a notification, announcing the formation of the tribunal.
A Special Leave Petition has been filed in the Supreme Court claiming that a Buddhist monastery (Baudh Vihar) existed at the site of Babri mosque and hence the disputed land at Ayodhya should be handed over to followers of the faith.
Armed with necessary macro and micro growth drivers, India is on its way to becoming the fastest growing major economy in the world, a finance ministry report said. Rapid vaccination and teeming festivities will push India's ongoing recovery resulting in narrowing of demand-supply mismatches and greater employment opportunities, as per the monthly Economic Review prepared by the ministry.
The government is trying through industry chambers to get corporate world incorporate data on SC/ST recruitment, Social Justice and Empowerment Minister Mukul Wasnik told Rajya Sabha on Thursday.
In all likelihood, the next conventional Chinese attack on India would be preceded by a massive cyber attack designed to cripple Indian networks and interfere with our disaster-relief programmes.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
The apex body for liquor firms Confederation of Indian Alcoholic Beverage Companies has urged the government to gradually reduce customs duties on British alcoholic beverages under the proposed India-UK free trade agreement to support domestic players. India and the UK have formally launched negotiations for an FTA, under which duties would be reduced or eliminated on several goods traded between the two countries. The Confederation of Indian Alcoholic Beverage Companies (CIABC) has also suggested the government to ensure that the UK allows the selling of domestic whiskies as 'Indian Whisky', irrespective of whether they are made from malt, grain spirits or molasses-based spirits.
In a bid to enter the Rajya Sabha from West Bengal, Communist Party of India-Marxist politburo members Sitaram Yechuri and Brinda Karat on Monday filed their nominations for the upcoming election to the Upper House.
Services such as deposits and withdrawal at branches, cheque clearance and loan approvals would be affected due to the strike.
United Forum of Bank Unions (UFBU), an umbrella body of nine unions, has given a call for a two-day strike from March 15 to protest against the proposed privatisation of two state-owned lenders. In the Union Budget presented last month, Finance Minister Nirmala Sitharaman had announced the privatisation of two public sector banks (PSBs) as part of its disinvestment plan. The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the last four years.
India is one of five nations to have expressed an interest in hosting the 2027 Asian Cup, the Asian Football Confederation (AFC) said on Wednesday. Qatar, the reigning champions and 2022 World Cup hosts, is also interested in hosting the continental championship, as are regional football powerhouses Iran and Saudi Arabia, and Uzbekistan.
Modi and Deuba discussed ways to strengthen ongoing cooperation and develop new areas in the multifaceted bilateral partnership.
India get three slots for AFC competitions in 2023-24 season.
'India is showing a reasonable amount of resilience, but we are still living in a world that is quite fragile.' 'That's why we hope that the government will continue to invest significantly in public capex so that we are able to ride through this cycle till the private sector is able to play its part in investing and adding to the capex cycle.'
Government's focus on infrastructure is the biggest positive for the Indian economy, followed by the improvement in tax collections and good consumption recovery.
The United Forum of Bank Unions (UFBU), an umbrella body of nine unions, on Tuesday gave a call for a two-day strike from March 15 to protest against the proposed privatisation of two state-owned lenders. In the Union Budget presented last week, Finance Minister Nirmala Sitharaman announced the privatisation of two Public Sector Banks (PSBs) as part of its disinvestment plan. The government has already privatised IDBI Bank by selling its majority stake in the lender to LIC in 2019 and merged 14 public sector banks in the last four years.
'It will send a very strong signal that it is now our time to grow.'
The National Company Law Appellate Tribunal (NCLAT) has reserved its order on Amazon's plea challenging the decision of regulator CCI to suspend approval for the e-commerce major's deal with Future Coupons. In December last year, Competition Commission of India (CCI) suspended the approval given by it in 2019 for Amazon's deal to acquire a 49 per cent stake in Future Coupons Pvt Ltd (FCPL). The regulator had said that Amazon suppressed information while seeking clearances for the transaction back then and also slapped a fine of Rs 202 crore on the company.
CAIT is against BCCI selecting Dream 11 as the sponsor of IPL 2020 since it has Chinese company Tencent Global as one of its major stakeholders.
The Popular Front of India (PFI), banned recently by the government for alleged terrorist links and spreading communal hatred, has a "well-structured and organised" presence in the Gulf countries for raising and mobilising funds, the Enforcement Directorate said on Monday after a local court took cognisance of its latest charge sheet filed against three PFI office-bearers.
FIFA has told India's football association to complete changes to its constitution
The National Company Law Appellate Tribunal (NCLAT) on Monday rejected Amazon's plea challenging the decision of fair trade regulator CCI to suspend the approval for the e-commerce major's deal with Future Coupons. A two-member bench comprising Justice M Venugopal and Ashok Kumar Mishra, upheld the findings of the Competition Commission of India (CCI) and directed it to pay the penalty of Rs 200 crore imposed on Amazon by the fair trade regulator within 45 days from Monday. "This appellate tribunal is in complete agreement" with the CCI, the two-member bench said.
The nationwide indefinite strike by truckers, demanding stable fuel prices and fewer levies, entered the tenth day on Wednesday amidst reports of a vertical split in the striking union.
Bangladesh, Nepal, Bhutan, Maldives and Sri Lanka are the other SAFF nations to severe ties with South West Asian Football Federation on the eve of the Asian Football Confederation Congress in Kuala Lumpur.
Last November, a lawyer for Future Retail Limited (FRL) told Delhi high court that Amazon is interfering with its lawful business and thousands may lose their jobs and FRL may go bankrupt. Senior advocate Harish Salve, who appeared for FRL, likened Amazon to East India Company. Senior advocate Gopal Subramanium, who represented Amazon, told the Future counsel to keep the "East India Company" rhetoric aside, as Amazon has invested $6.5 billion all over India and created 900,000 jobs. This drama played out in the case in which Amazon has challenged Future's $3.4-billion deal with Reliance, alleging the retailer's deal breached an agreement with the American e-commerce firm.
The Centre has slapped as many as 148 notices on e-commerce players in the past three months for not complying with the mandatory display of the 'country of origin' tag on products sold. "Of the 148 notices, 56 have compounded it (the offence) and paid up around Rs 34 lakh," a senior official told Business Standard. "Every product has to display the country of origin, along with other basic information," the official added. In the case of e-commerce companies, these details have to be clearly displayed on their portals.
The AFC said the unsuspended portion of the fine - US$750 -- shall be settled within 90 days from the date of the communication of the decision.
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