India is planning to soon sign new and updated mineral pacts with about a dozen countries in Africa. The Ministry of Mines is in discussions with Cte d'Ivoire, Democratic Republic of the Congo (DRC), Madagascar, Malawi, Mali, Morocco, Mozambique, South Africa, Tanzania, Zambia and Zimbabwe, Business Standard has learnt. Negotiations are ongoing with around a dozen countries, and more will be added to the list soon.
According to experts, the banning of the apps has created negative sentiments and reduced the confidence among the Chinese investors to invest in India.
From zero presence in the Indian power equipment market a couple of years ago, Chinese companies are likely to supply as much as 30 per cent of the equipment required to meet the Eleventh Plan capacity addition target of 78,000 Mw.Chinese companies are also bagging large orders from private power companies in India, despite the perception of "suspect quality".
'When an enemy country is looking for information to sabotage a system from a remote location, they can access your data, they can stop the functioning of our power plants, they can stop the functioning of critical systems in the network.' 'It is very important that we should have full control of everything in the network.' 'Most Indian companies buy from China only because of the kind of incentive they are getting.' 'By doing so, these Indian companies are exposing themselves to dangers in the coming years.'
Commerce Minister Piyush Goyal's scathing remarks on Indian startup ecosystem and its innovation priorities have drawn sharp reaction from the industry, with Zepto CEO Aadit Palicha putting up a strong defence citing the company's contribution to jobs, FDI and terming it a "miracle in Indian innovation".
Imposition of high tariffs on China, Mexico, and Canada by the US is expected to help Indian exporters in increasing their shipments to the American market, experts say.
China National Machinery and Equipment Import and Export Company has struck a deal with the Chhattisgarh government to build two power plants with a capacity of 600 Mw in Korba district of the state.
India will not allow Chinese companies to participate in highway projects, including those through joint ventures, Union Minister Nitin Gadkari said on Wednesday amid the border standoff with China. Gadakri also said the government will ensure that Chinese investors are not entertained in various sectors like the micro, small and medium enterprises (MSMEs).
To get listed overseas, companies are getting U.S.-traded outfits to buy them.
Local residents say until about two months ago, this board carried the name of Motorola, which once had a manufacturing unit in Sriperumbudur, 40-odd km from Chennai in Tamil Nadu. In May 2020, Luxshare Precision Industry Co, a China-headquartered AirPods and iPhone assembler, had entered into a deal with the Tamil Nadu government to take over the defunct Motorola unit.
The Serious Fraud Investigation Office (SFIO) has arrested a person who the Ministry of Corporate Affairs (MCA) said has emerged as the mastermind of the racket of incorporating a large number of shell companies with Chinese links in India.
An ACMA-BCG report has targeted Indian auto component exports to hit $100 billion - nearly a fivefold increase from $21 billion currently
The Chinese company, Taian Chiran Machinery Company Ltd, had been reportedly marketing a copy of top selling Pulsar in different Latin American markets under Gulsar brand.
China on Tuesday retaliated US President Donald Trump's imposition of 2nd round of ten per cent tariffs on its export by slapping an additional 15 per cent tariffs on American goods and initiated legal action against Washington in WTO while leaving the door open for talks to address each other's concerns.
Apple will source the majority of the iPhone sold in the US from India in the June quarter while China will produce the vast majority of the devices for other markets amid uncertainty over tax tariffs, a top official said on Friday.
India's stock markets corrected recently but foreign money is likely to chase China rather than India in the short-to-medium term, said Chris Wood, global head of equity strategy at Jefferies, on Thursday. Wood told the Business Standard Manthan Summit in New Delhi he is bullish about Indian equities from a long-term perspective, but for the short term he is cautious given the quantum of foreign investor (FII) outflows and valuation woes.
'He has been one of the clearest thinkers in the history of business.'
The Chinese Olympic Committee offered vaccine doses for participants of this year's Tokyo Olympics and the Beijing 2022 Winter Games
The government has asked Chinese mobile companies to increase their exports from India and there is no proposal to ban the sale of handsets below Rs 12,000 made by such firms, Union Minister Rajeev Chandrasekhar said on Monday. The Minister of State for Electronics and IT also said that Indian companies also have a role to play in the country's electronic ecosystem but it does not mean exclusion of foreign brands. "Only issue that we have raised and done very transparently with some of the Chinese brands is that we have said that our expectation is that they will do more exports.
While Elon Musk's political influence continues to grow, his business empire is witnessing headwinds.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
The Indian Olympic Association (IOA) is open to boycotting Chinese products and sponsors in the wake of the border clash between the two countries at Galwan valley earlier this week. Anti-China sentiments are running high in the country after the first skirmish at the India-China border in more than four decades left at least 20 Indian soldiers dead.
618 companies were part of the billion dollar club when the markets reached all-time highs on September 26, 2024. That number has fallen to 500 following a $1 trillion wipeout in India's market capitalisation amid relentless selling by FPIs.
There remains a debate on who said this: "When the facts change, I change my mind. What do you do, Sir?" Was it the British economist John Maynard Keynes or the American economist Paul Samuelson. Irrespective of who said it, this sentiment appears to have found resonance in ITC's boardroom in recent years.
'There is no linkage as far as the Indian power-generating business is concerned.'
Worried by a spike in Chinese imports, the Indian Steel Association (ISA) plans to take up the matter with the government and seek measures to fix "trade distortions". Alok Sahay, secretary general of the group that represents the country's steel producers, said systemic changes were needed. "In order to take any trade measure, it takes a minimum of 15 months' time, due to prevalence of lesser duty rule in India, making India an easy target. "We are going to write to the government on this," he said.
Calls for boycotting Chinese products have intensified after 20 Indian soldiers were killed in the Galwan Valley clash on June 15. The Chinese have so far refused to share details of the casualties they suffered.
In a statement, the Chinese ministry of commerce said that it would file a lawsuit with the World Trade Organisation against the US for its "wrongful practice," the Global Times reported.
Shares of Oil marketing companies (OMCs) extended their gains for the fourth consecutive session on Thursday after crude oil prices plunged to six-month lows in the international markets, which boosted investor sentiments. Traders said the OMC stocks gained with crude oil prices hovering below $70 per barrel after OPEC-plus decision to increase output from April, a move which is expected to favour Indian refiners with added marketing margins on retail fuel.
Pakistan and China on Monday signed an agreement to hand over control of the strategic Gwadar deep sea port to a Chinese company, with President Asif Ali Zardari saying the move would give new impetus to bilateral relations and economic cooperation.
'Companies like Tesla and others have been given a long rope in India.'
After registering a net profit of Rs 25.1 crore in Q3FY25 and consolidated revenues growing by 7 per cent on a like-for-like basis, Siddharth Mittal, chief executive officer (CEO) and managing director, Biocon, told Sohini Das/Business Standard in a virtual interaction that local manufacturing in the US is a trade off between cost and qualifying to do business there.
Despite the robust growth in this country, Apple's India share in its overall global sales remained modest -- constituting 1.5 per cent of its overall turnover of $389 billion in FY23.
He said that as compared to global models costing 2.5 to 3 US dollars per hour usage, India's AI model will cost less than less than Rs 100 per hour (1.16 US dollars per hour) after 40 percent government subsidy.
The reality is that far from being friendless, India is better positioned in the world than at any point post-Cold War, asserts Shekhar Gupta.
