China has granted the "national software export base" status to its five more cities, entitling them to special treatment and financial support from the government, as part of its efforts to compete with India.
Cheap equipment imports, especially from China, is a major reason for falling tariffs in solar tenders
Tightening its grip over illegal import of Chinese crackers which are reportedly flooding the Indian market, the Centre has issued a public notification warning importers and public of the legal consequences they would face if involved with it.
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.
Move follows a spate of international regulatory enforcements on Indian drug firms.
The government has imposed a penalty on e-commerce major Amazon for not displaying mandatory information, including the country of origin, of products sold on its platform, according to an official order. Last month, the consumer affairs ministry had issued notices to e-commerce majors Flipkart and Amazon for not displaying such information. The ministry has imposed a fine of Rs 25,000 on Bengaluru-based Amazon Seller Services as well as each of its directors as per the provisions of the Legal Metrology Act, 2009 and the Legal Metrology (Package Commodities) Rules, 2011.
Tiens Group is treating more than half of its 12,000 employees to a four-day holiday in France.
As it gears up to host Chinese President Xi Jinping, India on Monday said it expects that the visit will address the "interests and concerns" of the two countries and that "all substantive" issues having bearing on the ties including the boundary dispute will be discussed.
The project, the agreement for which was signed way back in 2009, had been gaining strategic relevance over the years as India-China ties took a hit.
Indian exporters are keeping their fingers crossed on account of rising Covid infections in China and other countries as it could again disrupt supply chains and affect demand for goods. Federation of Indian Export Organisations (FIEO) director general Ajay Sahai said that if the cases continue to increase in the coming days, it may have implications on imports. "We are keeping our fingers crossed," he said.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
'In 1984, Pyongyang just had one hotel and one could not move out without an official escort.' 'India was the only country with an embassy, apart from the socialist countries.'
Demand will boom in the US and China, but exporters say it will be difficult for India to tap these markets.
Reacting to India's ban on the Chinese apps at a foreign ministry briefing, spokesman Zhao Lijian said, "The Indian government has the responsibility to uphold the legitimate and legal rights of the international investors including the Chinese ones."
President Xi said that the Chinese side is ready to work with the Indian side to carry forward the fresh impetus of bilateral relations.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
Mobiles phones without International Mobile Equipment Identity number are considered a grave security threat and concerns had been raised over their usage after terrorist attacks like the one in Mumbai in November last year. Despite the security threat, no government agency has till now approached the commerce ministry for a ban on import of such phones from China, a top source said on Thursday.
The US on Friday issued orders to ban popular Chinese social media apps TikTok and WeChat from Sunday to safeguard national security, weeks after India banned them, saying they were prejudicial to sovereignty, integrity and security of the country.
China said on Thursday that "progress" has been made in facilitating the return of thousands of Indian students stranded back home due to Beijing's COVID visa bans and efforts were on for "early return" of the first batch.
The United States, the United Kingdom, the European Union and NATO have expressed concern on the new law and warned of retaliatory measures.
India on Wednesday banned 118 more mobile apps with Chinese links, including the popular game PUBG, citing data privacy concerns and a threat to national security, taking the total count of Chinese-linked mobile apps banned by New Delhi to 224.
India's medical devices imports surged 41 per cent to touch Rs 63,200 crore in 2021-22, led by a 48 per cent year-on-year (YoY) jump in imports from China to Rs 13,538 crore, the commerce ministry data analysed by the Association of Indian Medical Device Industry (AiMeD) has showed. Local industry players say this has led to several small and medium units to shut shop. Rakesh Vaid of Usha Fabs, a garments exporter, had started making N95 masks in his Gurgaon factory during the peak of the Covid-19 pandemic.
It was expected that supplies from China will be back to normal by end-June as their factories are now operating at nearly 90 per cent of normal capacity. But the recent issue with shipments has placed an obstacle that manufacturers can't bypass.
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Ahead of the visit, Chinese embassy officials briefed Indian scholars that investment promised would be $100 billion. How this figure came down to $20 billion is a mystery.
The bulk of this money will, however, be spent on buying imported equipment, mainly from Europe and China.
Not displaying the mandatory information, including country of origin, on products sold on their platforms in India, draws government's attention.
Apart from cotton, copper, petroleum and industrial machinery, India does not export much to China. This means that India buys six times the merchandise it sells to China, points out Abhishek Waghmare.
'As much as $4 billion in India's start-up companies has come from Chinese funds.' 'Government policy must not remain indifferent to the problems India's start-up ventures are likely to face after the change in FDI rules,' says A K Bhattacharya.
Overall, cumulative direct investment from China stood at just $2.05 billion till June 2018, according to consolidated DIPP figures
Wang arrived in Delhi on Thursday evening in the highest-level visit between the two countries after the ties came under severe strain following the military standoff in eastern Ladakh that began nearly two years ago.
Boston Celtics' Kanter sparks backlash in China after comments on Tibet, Xi.
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
The decision to go ahead with the mission is certain to anger China, which said last month it would "never allow any country" to violate its territorial waters and airspace around the islands, the Washington Post reported.
Breaking its silence on reports that Chinese telecom equipment makers are being banned in India on security reasons, Beijing on Monday urged New Delhi to remove restrictions and said such curbs amount to discrimination.
'For the first time, all major countries are discovering India's indispensability to their own foreign policy interests.'
Deficit is likely to touch $60 bn this financial year from $40 bn in the previous one.
A joint economic group comprising commerce ministers of India and China is scheduled to meet in the first week of April to discuss the proposed India-China Free Trade Agreement (FTA), a commerce ministry official said today.
The Modi government has to embrace the history of Tamil conquests in South East Asia and stop obsessing about Babar/Humayun, argues Colonel Anil A Athale (retd).
The broader NSE Nifty too advanced 50.70 points, or 0.43 per cent, to close at 11,941.30.
The Gems & Jewellery Export Promotion Council (GJEPC), the apex body set up by the Union ministry of commerce to monitor the jewellery business overseas, says it might call for pulling out of the diamond cutting and polishing business in China.
