The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
Bharatiya Janata Party's prime ministerial candidate, Narendra Modi, last month urged small traders to compete with foreign retail chains through e-commerce.
Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.
With India, the last round of talks took place in February 2011.
Internet, tech, infra, realty in India might gain
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
The Russia-Ukraine war is likely to improve the export profile of landlocked Chhattisgarh, which has already nearly tripled during the past three years. Chhattisgarh's exports reached Rs 25,241.13 crore in the financial year 2021-22 against Rs 9,067.92 crore worth of products shipped in 2019-20, according to the state government's data. While exports of iron and steel surged seven and a half times, rice shipping increased 4.68 times.
'Traders have stocked up for upcoming festivals and will make a loss if stores remain shut now. We suffered last year. We can't suffer again. There is no scientific basis for closing all commercial establishments. How long will the government keep them shut?'
India's top IT companies need to open new facilities in the United States to create more employment opportunities for locals and to change the perception that they were job-takers, a leading US business forum representative has said.
The lawsuit seeks to overturn these sweeping and unlawful immigration restrictions that are an unequivocal not welcome sign to the engineers, executives, IT experts, doctors, nurses, and other critical workers who help drive the American economy.
March 28 is a holiday on account of Ram Navami.
What's even more worrying is the age distribution.
The meeting will focus on how to make the crisis an opportunity for India.
The government has set a direct tax collection target of Rs 13.35 trillion, which includes Rs 7.66 trillion from corporation tax and Rs 5.69 trillion from personal income tax.
Several individuals and organisations, including the US Chambers of Commerce and the National Association of Manufacturers, have filed a lawsuit against the Trump administration's recent rules related to the H-1B visa, terming them "arbitrary" and "haphazard" regulations that will undermine high skilled immigration into America. Early this month, the Trump administration announced new restrictions on H-1B non-immigrant visa programme which it said is aimed at protecting American workers, restoring integrity and to better guarantee that H-1B petitions are approved only for qualified beneficiaries and petitioners, a move which is likely to affect thousands of Indian IT professionals.
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
'My father's life sends a message that there are positive things happening between India and China, no matter what happens at the border.'
The oil ministry is rejecting the monetisation of new discoveries as their production will not be viable at the present price of $4.2 per mmbtu
Assocham-Skymet report says untimely rain may reappear in north India.
The 61 year-old leader was the Minister for Home Affairs, Law, Parliamentary Affairs and Legislature in Yediyurappa's council of ministers that was dissolved on Monday and was also the Minister in-charge of Haveri and Udupi Districts.
It's seen as a signal that he wants to engage with India Inc at a time when the economy has started looking up.
Veteran industrialist Ratan Tata was conferred the title of "Global Visionary of Sustainable Business and Peace" by the Federation of Indo-Israel Chambers of Commerce (FIICC) for epitomising "unity, peace and sustainability". "Ratan Tata's support toward Israel has been unstinted. His commitment to put India on the global map with dignity and respect has been noted by each and everyone. "A man respected by the business communities of all the three countries - India, Israel and UAE - he epitomises unity, peace and sustainability," the president of the bilateral chamber, Gul Kripalani, said.
The South Indian Film Artistes' association -- also known as the Thenindiya Nadigar Sangam -- on Tuesday organised a one-day hunger strike to protest against the alleged atrocities committed against the Tamil community in Sri Lanka.
Industry associations Ficci and CII have been termed liable for service tax. Ficci has approached government for exemption from the levy.
Welcoming US President George W Bush's second term in the White House, industry bodies on Thursday said it would further strengthen Indo-US trade and economic ties.
Communications between the USTR and the world's most powerful pharmaceutical and trade lobbying groups reveal that many raised concerns about India's push to exempt Covid vaccines from intellectual property.
According to the order, all factories producing essential goods and services will remain operational at full capacity.
Agra has long been known for the Taj Mahal, but it is also a manufacturing hub filled with micro, small and medium enterprises (MSMEs) that make everything from electronic components to metal products, from paints and chemicals to footwear. And five years after the introduction of the Goods and Services Tax (GST), the MSMEs here complain that while the indirect tax regime has been transformative, cutting out the need to file multiple taxes, its biggest drawback has been the delay in credit refunds. Whoever you speak to - MSME owners, tax lawyers, or industry bodies like the National Chambers of Industries and Commerce (NCIC), Agra Footwear Manufacturers and Exporters Chamber (AFMEC) and Agra Shoe Manufacturers Association (ASMA) - they all emphasise that the GST continues to face some key challenges.
The government is also trying to curb child abuse and pornography and such platforms act as catalysts in these cases.
While e-commerce operations for these firms are small at the moment, it is slated to grow in the next 3 to 4 years.
Kashmiris protest against the killing of Amarnath pilgrims.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
US Commerce Secretary Gary Locke's robust meetings in Mumbai, includes a bilateral with the Governor of the RBIndia Dr D Subbarao and senior officials at the Department of Atomic Energy and the Nuclear Power Corporation of India, in addition to speeches to the Federation of the Indian Chambers of Commerce and Industry and the National Association of Software and Service Companies, will also be punctuated with an interaction with the dabbawallahs or tiffin caterers.
While FICCI officials said that parting of ways with Price Waterhouse was not related to the Satyam episode, sources said all business chambers have become wary of associating with those getting infamy from the country's largest corporate fraud.
The Centre had lowered its estimate of crop damage.
According to International Wine and Spirits Research, India's whisky consumption doubled between 2007 and 2012 to about 1.4 billion litres.
For months, offline retailers and traders have been lobbying hard for a national retail policy to protect their business from the growing influx of e-commerce.
United States assured Indian companies on Wednesday of a pie in the huge sub-contracting business offered by the reconstruction work in the war-ravaged Iraq, Association of Indian Chambers of Commerce said.
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