Sitharaman said that Indian startups have made and are making big contribution to the defence industry both in India and abroad.
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.
The Associated Chambers of Commerce and Industry (Assocham) on Tuesday said the new government may bring in legislation on job reservation in the private sector for scheduled castes (SCs), scheduled tribes (STs) and backward classes but the industry chamber will oppose any such move.
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
Norms for e-commerce likely, arm's-length pricing set for change.
Amid the raging debate over high CEO salaries, industry chamber Ficci's President Harsh Pati Singhania said if talent is to be attracted one has to pay for it and that in most cases they are "within limits".
The Ficci Survey for the second quarter of 2008-09, which was carried out during November and December 2008, revealed 52 per cent of companies feel that the overall economic conditions would weaken further in the coming six months. Further nearly 90 per cent of the 412 companies surveyed in the report feel that the economic situation has deteriorated over the last six months.
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
Development in state has benefitted community, they say.
Talks for an India-European Union free trade agreement started in 2007 and the eighth round of negotiations was completed in New Delhi last month.
ICA is the world's leading institution for resolving international commercial and business disputes.
The Youth Economics: Career Expectations survey by PHD Chamber of Commerce and Industry paints an optimistic picture.
Finance Minister Nirmala Sitharaman on Monday said the government is planning to extend the suspension of fresh insolvency proceedings for another three months, a move which will provide major relief to corporate borrowers hit by the coronavirus pandemic. Addressing the Bangalore Chamber Of Industry And Commerce (BCIC), she said the government has taken several measures, including deferment of tax payment date, to help businesses and people.
In an open letter to Prime Minister Manmohan Singh and to Union Commerce Minister Anand Sharma, the industry body has outlined its view on the climate change negotiations based on Indian industry's feedback and called for the prime minister to urge the developed world to provide technology transfer and funds to help mitigate the crisis.
The Confederation of Indian Industry and its Lao counterpart have agreed to cooperate in industrial and technological advancement, exchange professional experience and information about economic and commercial matters of the two countries.
India Inc has couter attacked claims by US presidential candidates about the drain of jobs from US to India.
CII suggested the policy measures required to ease the tight liquidity situation by cutting CRR by at least 50 basis points.
Investments of Rs 47,000 crore under implementation.
As Amazon India, Flipkart are forced to shut down 60 categories and push out 45 mn products, a new lobby group comprising sellers is in the making to take up e-com concerns.
The government said on Tuesday the Reserve Bank of India would consider the US demand for relaxing the branch opening norms for foreign banks in India as per the roadmap prepared by the country's central bank.
In the draft rules, among 681 listed professions, armed security guards, supervisors, surveyors, and carpenters (class I) are proposed to be treated as highly skilled professionals; electricians, tailors and drivers are skilled; cooks and cobblers as semi-skilled and dairy coolies, office peons and sweepers as unskilled.
The target of mopping up Rs 1.75 lakh crore from divestments of some of the public sector companies, including LIC and BPCL during the current fiscal, is on track and groundwork is being prepared for the goal, Chief Economic Advisor Krishnamurthy Subramanian said on Monday. On the COVID-19 pandemic, Subramanian said the impact of the second wave is lesser than that of the first one. In an interactive session, organised by Federation of Telangana Chambers of Commerce and Industry, the CEA said robust GST collections, over Rs one lakh crore per month for eight months in a row shows that consumption is picking up indicating positive signal for growth.
The banking sector in the country is stable, capital is available and credit offtake is poised to take off, he said at a webinar organised by Bharat Chamber of Commerce. "We are not unique to the phenomenon of uncertain growth and high inflation due to the pandemic.
Gujarat Chief Minister Narendra Modi was the Chief Guest at the event.
Among the sectors seen as most vulnerable to corruption are the government and the public sector, infrastructure, real estate, metals, mining, aerospace, defence, power and utilities.
The Centre is looking to convene a meeting of the all-powerful Goods and Service Tax Council in early January. The meeting is likely to focus on rectifying the inverted duty structure for a few more items and will also serve as a platform for pre-Budget discussions between Union Finance Minister Nirmala Sitharaman and state finance ministers, Business Standard has learnt. "The current Winter Session of Parliament ends on December 23, followed by the Christmas-New Year period. "After that we would like to have a meeting of the GST Council, depending on whether there can be a quorum," a top government official said.
Lobby group tells USTR it has got assurance from India on compulsory licensing.
Close on the heels of Pakistani parliamentarians' visit to the country, a Pakistani trade delegation would arrive in New Delhi on a two-day visit from June 27-28.\n\n
Bilateral trade between India and Japan stood at $16.31 billion by the end of fiscal 2013-14.
As part of efforts to boost Indo-US trade ties, a high-level American delegation led by president and CEO of US Chamber of Commerce Thomas J Donahue will visit India on Tuesday for a meeting with the Confederation of Indian Industry.\n\n\n\n
Amid oxygen shortage and a faltering health system in the country, India is seeing over 300,000 cases daily.
Film festivals and exhibitions are planned to mark the 100 years of Indian cinema.
The two apex chambers -- Federation of Indian Chambers of Commerce and Industry and the Confederation of Indian Industry -- said it was time corporate India did some serious introspection and improved governance standards. CII president K V Kamath said there was a 'need to immediately examine the loopholes in regulation, accounting, audit and governance that allowed such lapses to occur and address them with urgency'.
The US-India Business Council (USIBC) in coordination with the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (Ficci) is preparing a list of invitees for the business summit to be addressed by visiting US President Barack Obama.
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.
In order to deal with the issue of accumulation of wealth, Finance Minister P Chidambaram had said the time has come for a debate on imposition of inheritance tax.
A meeting of the Board of Trade, an advisory body to the Commerce Ministry, is likely to be held on October 11, a ministry official said.
