Under the 11th Five-Year Plan (2007-12), Rs 550 crore (Rs 5.5 billion) was provided for promoting exports through Market Access Initiative scheme.
The note recommends allowing FDI in domestic firms through the issue of partly-paid up shares and convertible warrants, but with certain riders.
India needs to look at newer markets for exports apart from the three primary markets of the European Union, the US and Japan, Union Minister of State for Commerce and Industry Jyotiraditya Scindia said on Wednesday.
Anand Sharma, who took charge of the nodal ministry for FDI on May 29, said there is no need for a relook at the policy amended in February by the Department of Industrial Policy and Promotion. While the policy does not allow overseas inflow into this sector, the changes in February were perceived to be opening the sector to FDI up to 49 per cent in an Indian firm that has a downstream subsidiary firm in retailing.
After growing at 8.4 per cent for consecutive financial years, economic growth fell to 6.5 per cent in 2011-12, primarily owing to a dismal show by the manufacturing sector, as well as a part of the services segment.
S&P Dow Jones Indices on Tuesday said it will remove Adani Ports and Special Economic Zone from its sustainability index following reports of its business ties with Myanmar's military that has been accused of human rights violations after a coup. The Adani Group firm is building a $290 million port in Yangon. In a statement, S&P Dow Jones Indices said: "Adani Ports and Special Economic Zone will be removed from the Dow Jones Sustainability Indices following a media and stakeholder analysis triggered by recent news events pointing to heightened risks to the company regarding their commercial relationship with Myanmar's military, who are alleged to have committed serious human rights abuses under international law."
In one of its many arguments, North Block has maintained that direct tax exemptions may be viewed as a subsidy by importer countries, which may then impose countervailing duties on exports from Indian special economic zones. The issue is pending with the empowered group of ministers on special economic zones headed by External Affairs Minister Pranab Mukherjee.
In his maiden Budget presented in Parliament on July 10, Finance Minister Arun Jaitley has tried to provide relief to the middle class by increasing tax exemption limit by Rs 50,000 to Rs 250,000.
Finance Minister P Chidambaram has so far given three packages to exporters aggregating Rs 5,200 crore (Rs 52 billion) as the $160 billion export target for 2007-08 appears difficult to meet. He has expressed hope that exports target would be met. Palanimanickam said government was already providing 100 per cent tax benefits on profit on exports apart from indirect tax incentives.
The posts of Chairman and MD in the private sector are held separately.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
India made it clear on Thursday that it will insist on a sizeable negative list of items in the Free Trade Agreement with ASEAN and there will be no compromise on the number of agricultural and textile items in which duty free imports will be banned.
There are huge investments from all parts of Europe and the US, and the investors are not looking at this as a red flag.
Apple sought exemption from mandatory local sourcing of components for its products
According to sources, Kingfisher Airlines allegedly diverted funds by opening a current account in HDFC Bank and had a balance of Rs 7.5 crore (Rs 75 million) as on date.
Speaking at the annual conference of the Karnataka Planters' Association in Bangalore, he said the coffee sector had been allocated a sum of Rs 750 crore (Rs 7.5 billion) in the 11th plan (2007- 2012), up from Rs 300 crore (Rs 3 billion) in the previous plan.
The commerce ministry-promoted Spices Board is getting into retail by floating a company to market spices in India and abroad.
The Ministry of Finance or Commerce would certainly need a larger hospitality budget than the Ministry of Agriculture.
There is simmering disquiet in the Communist party and the world is watching as to what can unfold in China in the days to come ahead of next year's party congress, notes Rup Narayan Das.
On Tuesday, while several consumers took to social media to share their grievances about the Snapdeal site crash, many others said they visited the website to either compare prices or for window shopping.
Sitharaman, who is in Russia on a three-day visit, also met her Chinese counterpart Wei Fenghe on the sidelines of the international security conference.
From small retailers' experiences with e-wallets to digital transaction numbers post demonetisation, Geetanjali Krishna and Karan Choudhury find out where the truth lies.
Dave complained of uneasiness at his home on Thursday morning and was rushed to AIIMS.
In an online chat, Anil Nagar, Director, Bank Power Institute, Delhi addressed questions on how to prepare for the IBPS Bank PO exam.
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