With domestic production of milk and dairy products in China not being able to meet the rising demand, India can step in to capture this fast growing market, a Confederation of Indian Industry report said.
Days after the government went public with its intent to examine a Sebi order in the NSE matter, its outgoing chairman Ajay Tyagi on Wednesday made it clear that the markets regulator did not "dilute" any of the quasi-judicial verdicts. The comments assume significance as they come after Finance Minister Nirmala Sitharaman, as per reports, recently said the government is examining if Sebi has taken "necessary punitive" action in the case. In a media interview, the FM had said the government was analysing if there had been "enough application of mind in dealing with this" and if after applying its mind, Sebi took adequate corrective steps.
The study titled, 'Indian Roots, American Soil: A Look at Indian Companies in the US Economy,' was released at Capitol Hill in Washington, DC on Wednesday at a ceremony attended by several US lawmakers from both the Senate and House.
The publishing industry in the western countries, which once thrived because of the cost advantage, was suffering from high cost of production, including wages. With advent of digital printing, the cost of printing books had also become costlier, due to high cost of paper and machinery.
Confederation of Indian Industry president Ashok Soota said on Friday that India should take up at the World Trade Organisation the issue of protectionism that affects natural movement of professionals across borders.\n\n\n\n
Lack of policy blocking NRI investments: CII
Indexation is a technique to adjust tax payments by employing a price index which adjusts for inflation
Backed by the 'China Plus One' sentiment globally, India's textile exports is expected to grow by 81 per cent to $65 billion by 2026 from the pre-Covid level of around $36 billion in 2019, said a report by the Confederation of Indian Industry (CII) and global consulting firm Kearney. This jump is likely to generate 7.5-10 million new jobs. A large chunk of this targeted increase, or around $16 billion may come from the China Plus One sentiment due to India's relatively large strategic depth compared with Vietnam or Bangladesh, the report said.
'If many start-ups lose in this environment, there will be less number of people willing to start new businesses.'
The coronavirus pandemic has taught that viruses cannot be taken lightly, and the unpredictability in emerging scenarios of health have to be respected and addressed, Paul noted.
The Union Cabinet has cleared a proposal to provide Rs 30,600 crore government guarantee for security receipts issued by the National Asset Reconstruction Company (NARCL) as part of resolution of bad loans, Finance Minister Nirmala Sitharaman said on Thursday. The proposed bad bank or NARCL will pay up to 15 per cent of the agreed value for the loans in cash and the remaining 85 per cent would be government-guaranteed security receipts. The government guarantee would be invoked if there is loss against the threshold value.
Union Road Transport and Highways Minister Nitin Gadkari on Wednesday pitched for formulating a policy for using the Reserve Bank of India's rising foreign exchange reserves for funding road projects, saying the country needs low cost finance for such infrastructure projects. Addressing a virtual event organised by industry body CII, Gadkari further said that the National Highways Authority of India (NHAI) should also have a financial arm like the power ministry's Power Finance Corporation (PFC). "We have a surplus of dollar reserves in the country. I have decided to talk with the RBI Governor, about how we can formulate a policy by which we can use this foreign exchange reserves for development of infrastructure in the country," he said.
The beneficiaries of the second set of announcements are expected to be micro, small, and medium enterprises, farmers, women, poor, migrant workers, and other marginalised sections of the society, reports Arup Roychoudhury.
The day, now called Technology Day to mark the anniversary of the tests, will see the government launching a company, under a public-private partnership between the Confederation of Indian Industry and the Department of Science and Technology, to attract the world's leading technologies and promote innovation in the country.
The Confederation of Indian Industry has also inked a pact with Santech Communication to serve the needs of industry for nanotechnology-based products.
The UK government is under increasing pressure on Monday to review its COVID-19 vaccine protocol in place for travellers from India, after its updated rules effective from next month failed to recognise Indian vaccines under an expanded list of countries.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
A June 11 survey by cLocalCircles across 299 districts puts overall vaccine hesitancy levels at 18 per cent, with 11 per cent of the respondents saying they were not convinced if the currently available vaccines would protect them against the new strains; and 5 per cent said they do not plan to take the vaccine at all.
The dust over the controversy around foreign direct investment (FDI) in the defence sector appears to have settled.
Bangalore-born Bhattacharyya, an alumnus of Indian Institute of Technology (IIT) Kharagpur, was awarded the Padma Bhushan in 2002 for his services to science and technology and made a life peer in the UK's House of Lords in 2004.
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
Maharashtra Chief Minister Uddhav Thackeray on Saturday said he had tried to contact Prime Minister Narendra Modi on phone regarding the oxygen supply for the state but the PM was not available since he was busy campaigning for the West Bengal elections.
The cost of railway linking Mumbai and Ahmedabad is between $12.2 bn to $13.9 bn.
CII joined hands with the EC in launching a mega blitz including round-the-clock voter helplines, sending SMS messages and setting up touch-screens at strategic spots to educate voters about their right to franchise.
CII plans business events across China, a 'Made-in-India' show in the booming Guanzhou city, a CEOs meet and visits by 1,000 young Indian businessmen -- all aimed at increasing India's market share in China and spurring Indian entrepreneurs to invest in the world's fourth largest economy. On its part, the CII would expand its Shanghai office and open one more in Beijing, CII Chief Mentor Tarun Das told PTI.
Officials said several witnesses were heard on the impact of the pandemic. They added that this was the longest meeting of the panel without a break so far.
Starting with the third quarter of financial year 2020-21 (Q3FY21), we have seen "unlock" trades at various times. Whenever lockdowns have been eased, traders have taken long positions in consumer-facing businesses. Let's look at the logic. Since March 2020, sectors like retail, personal vehicles, hospitality, aviation, fast-moving consumer goods (FMCG), multiplexes, etc., have been under severe pressure. As a result, there's been a low base effect. Every company in these spaces has suffered top line contraction. Many suffered losses, especially in the first half of FY21.
In a bid to participate in the reconstruction of Iraq and explore business opportunities there, a 20-member mission of Confederation of Indian Industries is in Kuwait to meet the companies on a one-to-one basis.\n\n\n\n
The ninth Confederation of Indian Industry partnership summit, to be held in Hyderabad from January 5-8, would showcase Andhra Pradesh's efforts in providing infrastructure to industrialists in India and abroad.\n\n\n\n
India Inc on Friday said it is looking forward to a repo rate cut in future as cost of funds has to come down in coming times, and expects continuation of accommodative policy stance by the Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, as the economy faces the brunt of the second COVID-19 wave. Sanjay Aggarwal, president of PHD Chamber of Commerce and Industry, said the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to mitigate impact of COVID-19, apart from an aim to keep inflation within the target.
Securities and Exchange Board of India (Sebi) chairman Ajay Tyagi on Thursday defended the recent reforms announced by the regulator, such as peak margin norms and shortening of the trade settlement cycle, saying they were in the interest of investors. The moves were criticised by the broking community and the foreign portfolio investors (FPIs). Speaking to the media after his inaugural address at the CII Financial Markets Summit, Tyagi said: "The new peak margin norms are in everyone's interest.
He says conditions for entrepreneurship and SMEs needed to be improved for the sake of growth in economy and employment opportunities.
The govt's willingness for change and 'feel good' factor has boosted sentiments.
The CII has suggested a 5-point agenda on the measures that need to be undertaken by central and state governments to stave off the adverse effects of a deficient monsoon. Let's find out what this agenda is. . .
