The government liberalised FDI policy in sectors, including multi-brand retail, single-brand retail, commodity exchanges, power exchanges, broadcasting, non-banking financial institutions and asset reconstruction companies.
The 'worst' for Indian exports, which are in the negative territory since October 2008 due to the global recession, seems to be over, Commerce and Industry Minister Anand Sharma said.
India has not changed its position on agriculture and industry at the World Trade Organisation negotiations on freeing global trade to protect the interests of its farmers and small enterprises, Commerce and Industry Minister Anand Sharma has said.
The meeting assumes significance as Swedish furniture retailer IKEA, which plans to invest Rs 10,500 crore (Rs 105 billion) to set up its own stores in India, had sought relaxation in certain conditions related to the mandatory 30 per cent sourcing from micro and small enterprises.
Ahead of the third quarter monetary policy review by the Reserve Bank later this month, Commerce and Industry Minister Anand Sharma has opposed monetary tightening, saying fund flows to the industry have not caused food inflation.
Contesting the US charge that Indian FDI rules are "opaque", Commerce and Industry Minister Anand Sharma on Tuesday said the country follows a simplified direct investment regime.
Eurofighter Typhoon, India-EU trade pact on agenda for April 11.
"We are very clear it is an absolute must in the bouquet of energy resources which have to be accessed," Commerce and Industry Minister Anand Sharma told a gathering of top US c corporate leaders and those from the US government at the annual summit of the US India Business Council (USIBC).
India with its promise of higher return on investments offers boundless opportunities for corporate America to invest in the country, particularly in manufacturing and infrastructure, Commerce and Industry Minister Anand Sharma has said.
The company is preparing Information and Communications Technology master plan for four smart cities proposed under the DMIC project.
Exporters, facing slump in demand in the major markets of the US and EU, are expecting incentives in the foreign trade policy, to be unveiled in the second half of the month. The FTP broadly spells out the segments of priority in external trade and also gives incentives and disincentives, depending on the country's needs.
The task force was set up in July 2011. Although the industrial production during March improved to 2.5 per cent, the factory output during 2012-13 worked out to be only 1 per cent, down from 2.9 per cent in the previous fiscal.
The need of the hour is a rule-based multilateral trading regime, which takes on board developmental aspirations of the poor countries and at the same time ensures better access for all. "That is what we shall be striving for," said Commerce and Industry Minister Anand Sharma. He said Prime Minister Manmohan Singh has made commitments that the Doha trade talks, the latest round of which was stalled in July 2008, be concluded successfully.
Data exclusivity provides protection to the technical data generated by innovator companies to prove the merit of usefulness of their products.
Commerce and Industry Minister Anand Sharma today assured exporters of government mediation to ensure that they get foreign currency loans at the new lower rate set by the RBI amid complaints against banks levying additional charges.
The downward slide in Indian exports following recession in major markets of the United States and Europe, has been arrested, Commerce and Industry Minister Anand Sharma informed the Rajya Sabha on Wednesday.
Noted lawyer and Bharatiya Janata Party candidate Ram Jethmalani and Union Commerce Minister Anand Sharma were on Thursday elected in the Rajya Sabha polls in Rajasthan, while a Congress-supported Independent candidate was defeated.
Commerce Minister Anand Sharma is in a fighting mood, blasting everybody, more so the media, the moment you offer any criticism of the Commonwealth Games that will open in New Delhi on October 3.
In the face of stiff opposition in Parliament to foreign direct investment in retail, Commerce and Industry Minister Anand Sharma on Monday sought to reach out to MPs and state chief ministers and appealed to them to rise above 'petty' partisanship on the issue.
India on Tuesday said that several actions taken by the US with regard to offshore outsourcing and other trade issues are "not welcome at all".
"India and Indonesia can do much more in the changing world," Sharma said at a reception hosted by the India-Indonesian Chamber of Commerce last night.
Commerce and Industry Minister Anand Sharma has said India will not "rush to" the World Trade Organization (WTO) over the "regressive" steps taken by the US recently, which include an increase in the visa fee and a special levy on foreign manufacturers.
To check rising current account deficit, the government has raised import duties and the Reserve Bank of India had imposed curbs on import of the yellow metal and also laid down various pre-conditions for inward shipments of the precious metal.
Sharma proposes to pass on the 'handover note' to his successor, which as per the poll projections is likely to be from Bharatiya Janata Party-led National Democratic Alliance.
In a major policy reversal, the AAP government wrote to the Centre to withdraw approval given by previous Congress government for FDI in multi-brand retailing in Delhi, saying the entry of global chains such as Walmart and Tesco in India would result in large-scale job losses.
Four new retailers from US, two from Germany may have shown interest in setting up shop in India.
Describing Supreme Court's direction asking Samsung Electronics Chairman Lee Kun-hee to appear before a Ghaziabad court in a cheating case an "extreme step", Commerce and Industry Minister Anand Sharma on Friday said it would adversely impact investment and business climate.
Contrary to Modi's claim of the state being the largest beneficiary of Foreign Direct Investment, Gujarat has received only $8 billion of foreign investment during the 13-year period beginning 2000, according to the Union Minister.
The minister, at a packed press conference, made it clear that New Delhi was not prepared for any compromise on the food security issue, adding the deal at Bali has to be fair and balanced as 'it is better to have no agreement than a bad Agreement'.
Believes companies would come to India eventually.
The country's economic growth slipped to a decade-low of 4.5 per cent in 2012-13 and is estimated at 4.9 per cent in the current financial year.
With the FIPB giving approval to the Tata-Singapore Airlines joint venture to start a full-service carrier, Tata Group Chairman Emeritus Ratan Tata on Friday met Commerce and Industry Minister Anand Sharma.
Framing the next chapter in Swiggy's journey as a responsible corporate citizen, co-founder and chief executive officer (CEO) Sriharsha Majety unveiled the company's eagerly awaited public listing. Majety, who has largely shunned the spotlight, shared reflections on his entrepreneurial path and the strategic pivots he and his co-founders navigated in building Swiggy. "We started with code aggregation, then pivoted to logistics, and that became Swiggy.
According to government statistics, Indian IT firms support 280,000 jobs in the US and have contributed about $15 billion to the US Treasury in the past five years.
Sharma, who has been regularly reviewing the situation with senior officials, has expressed concern over the drop in industrial performance in the recent months, the statement said.
In a meeting with the commerce minister, India Inc hammered Sharma on the collapse of investments, structural nature of the current account deficit and stagnant growth in agriculture.
Industry is of the view that rising interest rates is increasing the input cost as loans are getting costlier.
The government had imposed Minimum Alternative Tax and Dividend Distribution Tax on SEZs in 2010-11, which were earlier exempted from almost all levies.
Saturday would mark the completion of a year of history being made in India-Pakistan trade relations.
Leveraging the India-ASEAN Free Trade Agreement, India wants to double its commerce with Myanmar and diversify the bilateral engagement to agro-research and natural gas exploration.
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