The government will set up a special purpose vehicle to push ahead with plans to start manufacturing commercial aircraft in India, Civil Aviation Minister K Rammohan Naidu said on Wednesday as he highlighted the potential of the country's fast-growing aviation sector. The Bhartiya Vayuyan Vidheyak Bill 2024, which was passed by the Lok Sabha in August, includes provisions to regulate the design and manufacturing of aircraft, supporting the Aatmanirbhar Bharat initiative for self-reliance.
'Amaravati will be a game changer for Andhra Pradesh.'
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
India SME Forum, an organisation for small and medium businesses, has called for creating a dedicated fund of Rs 5000 crore for the export capacity development, promotion, and marketing of Micro, Small & Medium Enterprises (MSMEs) in its Budget recommendation. The forum for MSMEs with over 98,000 members said that to enhance India's global competitiveness and increase its market share in global exports, it was "crucial to increase the number of active exporters and enable at least 3-4 lakh first-time micro, small, and medium exporters while supporting them in promoting Indian products globally."
In a dramatic shift in Canada's foreign policy, Prime Minister Mark Carney on Thursday declared that the long-standing economic and security relationship between Canada and the United States has ended, responding to US President Donald Trump's announcement of new auto tariffs that could severely impact Canada's economy, Politico reported.
US Commerce Secretary has appointed Purnima Voria to a new National Advisory Council
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
Union minister Chirag Paswan on Monday said his Lok Janshakti Party-Ram Vilas wants to fight the assembly election in Jharkhand and a final decision will be taken soon on whether it would contest under the National Democratic Alliance (NDA) or alone.
The Bilateral Aviation Safety Agreement, the civil nuclear technology transfer, telecom infrastructure security and business jet landing rights are among other "policy accomplishments in 2011" listed on the US chamber's website.
'Inflation is not good for industry. Nor for the economy as a whole.'
'What stood out at these meetings between industry representatives and government leaders was how the equation between the ministers and industry had undergone a subtle and qualitative change,' points out A K Bhattacharya.
Two Hindu traders in Pakistan have been kidnapped by gangsters who have demanded the release of their accomplices from police custody in exchange for the safe release of the businessmen, police said Wednesday.
India Inc on Tuesday expressed deep reservations over the supplier liability provision -- the contentious Clause 17(b) -- in the Civil Liability for Nuclear Damages Bill, 2010, saying it would seriously hinder nuclear commerce.
Eying benefits from digital banking, lenders are now looking at building Unified Recovery Interface (URI) for enhancing efficiency, reducing costs, and getting good prices for properties of defaulters. This would be managed by PSB Alliance Ltd, a company set up by all public sector banks in the country. M V Rao, chairman, Indian Banks' Association (IBA), said: "Till now we had Unified Payments Interface (UPI), a product developed by National Payments Corporation Ltd (NPCI).
Many states are realising that hosting mega events puts the spotlight on them and raises their profile.
Leading industry and export chambers like PHDCCI and Federation of Indian Export Organisation on Tuesday demanded 1.0 per cent cut in bank rate and cheaper export finance in Reserve Bank of India's' forthcoming busy season credit policy.
'One of the aspects for transparency and fair governance is to give the industry being represented the chance of lobbying with the regulator.'
'They sell such ideas in the name of 'national interest'.' 'What national interest are they talking about?' 'There is no national interest in this. The only interest that is there is their profit.'
The government has decided to set up a joint venture company with industry body Ficci for encouraging investment in the country."The Invest India company, a joint venture between the department of industrial policy and promotion and Ficci, would be funded by the government and managed by the chamber," commerce and industry Minister Kamal Nath said
Business chamber Assocham has asked the government to accord industry status to organised retail sector, which would improve investment inflows into the sector and increase its share in this segment. The move would increase the share of organised retail in the overall sector to 20-22 per cent from the current 3 per cent, Assocham said.
Affirmative action here refers to direct efforts to ameliorate the educational and employment situation for Scheduled Castes, Scheduled Tribes and Other Backward Classes.
Industry chambers on Thursday said all soft drink manufacturers must adhere to international norms, while criticising the government for going slow in implementing stringent rules.
The chamber has sought clarity from government to remove uncertainty among businesses
Karnataka High Court has set aside the conviction of Jayalalithaa.
This is despite a Federation of Indian Chambers of Commerce and Industry survey showing more players were optimistic on a recovery in manufacturing in the last quarter of 2011-12.
Wholesale inflation fell to a 3-month low of 2.04 per cent in July on decline in prices of food items especially vegetables, government data released on Wednesday showed. The decline in wholesale price index (WPI) based inflation in July came after it rose for four months in a row till June, when it was 3.36 per cent. It was (-) 1.23 per cent in July last year. In April wholesale inflation stood at 1.19 per cent.
The 49-year-old entrepreneur oversees the media and real estate arm of Dempo Industries as its executive director.
Proliferation of home chargers of around 7 KWh and above, which take six to seven hours to fully charge a car depending on the model, bring running costs down by a third or so. That, coupled with the increasing range of modern electric cars, can lead to a massive increase in sales.
Government has proposed to make bribery in private sector a criminal offence.
Wants all services included in tax, with a negative list.
State-run Life Insurance Corporation of India (LIC) has committed Rs 600 crore for its digital transformation journey, Sunder Krishnan, chief risk officer said on Wednesday. The insurance giant is also aiming to become completely "paperless" in two years. "We have hired a large system integrator for more than Rs 400 crore, a consultant for digital transformation for Rs 100 crore, and Rs 100 crore for agency transformation.
Captains of the industry, particulary the outgoing chairman of Federation of Indian Chambers of Commerce of Industry Harsh Pati Singhania, who is also the managing director of JK Paper Mill, hailed the Union Budget.
Afghanistan is ripe and ready for more investments from India and offers a lot of opportunities.
Subhash Dandekar, chairman emeritus of Kokuyo Camlin and the man known for bringing colours to artists as well as students in the country, passed away on Monday at 85.
The Bangalore Chamber of Industry and Commerce (BCIC), which represents the medium and large industries in the state, has urged the Karnataka government to come out with a state-specific relief package for the industrial sector including announcement of a one-year interest free loan scheme to industries.
Ace film maker Yash Chopra, who is also Federation of Indian Chambers of Commerce and Industry Entertainment Committee chairman, said the multiple taxation is a serious threat to the survival of the industry.
Different industry and trade bodies have extended their support to BangaloreIT.in, the premier annual IT event organised by the Karnataka government and STPI. The three-day event will be inaugurated on the 29th of October in the premises of Bangalore International Exhibition Centre (BIEC).
Reminding the UPA-II government about the need to reverse the negative perception of a 'decision-making paralysis', industry body Assocham has made a pitch for second-generation reforms in various sectors, including finance, banking, taxation and agriculture.
