The threat may be a decade away, but it has brick-and-mortar sellers rethinking their strategies and banking on the govt to regulate online companies.
Goyal wondered why an e-commerce market place model, where a firm provides an IT platform for buyers and sellers, was incurring such huge losses adding that it needs to be looked into.
American online major Amazon seems to be almost doubling its India investment going by the company's recent announcement during Prime Minister Narendra Modi's state visit to the US. From the time the Seattle-headquartered company started its India journey in 2013, its investment into the country is pegged at $11 billion or roughly $1.1 billion a year. By committing a fresh round of $15 billion by 2030, the Jeff Bezos-founded company's investment would go up to more than $2 billion a year over the next seven years.
A top Republican lawmaker has welcomed India signing a trade deal with Australia, and urged the Biden administration to enter into a similar arrangement with New Delhi that can advance Washington's strong economic agenda in the strategically vital Indo-Pacific region. "I'm pleased to see #Australia & #India sign a strong trade deal," Senate Foreign Relations Committee Ranking Member Jim Risch said in a tweet. "The US needs to do the same and advance a strong economic agenda in the #IndoPacific. "The Biden Admin's failure to lead hurts US growth and our partnership in the region," Risch said in another tweet.
Jack Ma is learnt to have discussed about e-commerce, mobile telephony
In an open letter to Prime Minister Manmohan Singh and to Union Commerce Minister Anand Sharma, the industry body has outlined its view on the climate change negotiations based on Indian industry's feedback and called for the prime minister to urge the developed world to provide technology transfer and funds to help mitigate the crisis.
West Bengal's industry minister Partha Chatterjee, arrested in the SSC scam, should be removed immediately from his post and expelled from the Trinamool Congress, the party's state general secretary Kunal Ghosh demanded on Thursday.
The farm sector's contribution to Indian economy is just around 20 per cent and rural India is in a shambles.
Commerce ministers of the three countries, who met in Pretoria on Tuesday, also decided to hold formal annual trilateral talks to boost intra-IBSA trade.
The CPI-M leader was the chief minister of the state from 2000 to 2011.
A Congress source termed the process of drafting and presenting of the Bill before the state cabinet on Monday as a "unilateral" effort by the chief minister's office and ministers that are close to him.
Sources within the Congress, including those who have been members of the teams that drafted its 2019 and 2024 Lok Sabha poll manifestos, said the Karnataka government decision lacked any empirical basis.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
'Alongside economic growth and the Asian century, stress has become an Asian caravan.' 'But stress doesn't arrive in one's country as invitation to taste exhaustion. It comes dressed as a challenge.' 'Its evangelists ask: Are you man enough to shoulder stress?' points out Shyam G Menon.
'India should respect Maldivian nationalism and their desire to be not over-dependent on India.' 'India should not behave like a big brother towards Maldives as many times, we tend to behave like that.'
US Commerce Secretary Carlos M Gutierrez,who travels to New Delhi, Feb. 13-14 to meet Commerce and Industry Minister Kamal Nath,
In order to reduce government litigations, the Union Finance Minister Nirmala Sitharaman on Saturday said the GST Council has fixed a monetary limit for filing appeals by the tax department before the various appellate authorities. It has recommended a monetary limit of Rs 20 lakh for GST Appellate Tribunal, Rs 1 crore for the High Court and Rs 2 crore for the Supreme Court for filing of appeals by the department before these legal forums, she said after the 53rd GST Council meeting held in New Delhi.
Taking up the case of Indian IT companies and professionals, Jaitley told Ross about the contribution of highly-skilled Indians in the economic development of the United States and India and stressed that they should continue to do so, which is in the best interest of the two countries, officials said.
'There is a saying in Assamese about inflicting pain on an adversary: He cut my hands with a sword and rubbed salt into my wounds.' 'This has never been the BJP's culture but it started happening openly and frequently under Himanta Biswa Sarma.'
Pakistan's Finance Minister Miftah Ismail on Monday said the government can consider importing vegetables and other edible items from India following the destruction of standing crops due to massive floods, three years after Islamabad downgraded trade ties with New Delhi over the Kashmir issue.
The relationship between the US and India has been very productive, in particular on the trade and technology front, and 2023 can be considered the best year historically for bilateral ties, according to a former top American trade official. Arun Kumar, an Indian-American, who served as the assistant secretary of Commerce for Global Markets and director general of the US and Foreign Commercial Service (USFCS) during the Obama administration, said this during an interview with PTI in Washington. "Looking back on 2023, it was a very productive year for the US-India relationship, by many accounts the best year historically," he said.
'Till a few years ago, girls wouldn't take an autorickshaw alone. Now, things have improved.'
Sharma met US trade representative Ron Kirk, agriculture secretary Tom Vilsack and deputy assistant to the president and deputy national security advisor for International Economic Affairs Michael Froman and other senior Obama Administration officials.
In a major development, India and the US have agreed to end six trade disputes at the WTO through mutually agreed solutions, while New Delhi will remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
India and Bangladesh on Monday signed two agreements to further cement their trade and investment ties as External Affairs Minister Pranab Mukherjee hailed the recent upward swing in bilateral relations.
Bharti Global, the international investment arm of Bharti Enterprises, has decided to buy 24.5 per cent equity in BT Group - a move that will make the Indian conglomerate the biggest shareholder in the UK's second-largest telecom company both in terms of market value and subscriber count. The shares are being purchased from billionaire Patrick Drahi's Altice UK through a combination of cash and debt .
Noting that SMEs in India account of substantial part of domestic production and that 40 per cent of the manufacturing and exports come out of SMEs, the minister said that SMEs, particularly the medium enterprises, are great incubators of technologies and that such an initiative would make the bilateral trade and commerce more meaningful.
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.
Prime Minister Narendra Modi on Tuesday told Russian President Vladimir Putin that a solution to the Ukraine conflict is not possible on the battlefield and peace efforts do not succeed in the midst of bombs and bullets even as he flagged concerns over a missile strike on a children's hospital in Kyiv.
US e-commerce giant Amazon, which is said to be investigating alleged bribes paid by its legal representatives in India, spent a staggering Rs 8,546 crore or $1.2 billion in legal expenses for maintaining a presence in the country during 2018-20, sources said. Sources aware of the firm's public account filings said entities of Amazon - including Amazon Retail, Amazon Seller Services, Amazon Transportation Services, Amazon Wholesale, and Amazon Internet Services - paid Rs 3,420 crore in India during 2018-19 and Rs 5,126 crore during 2019-20 towards legal fees. Amazon is locked in a legal tussle over the takeover of Future Group and is facing a probe by the Competition Commission of India (CCI).
India's trade deficit with Russia continued to widen for the second consecutive year to $57 billion in the financial year 2023-24 (FY24), with Moscow becoming New Delhi's largest source of crude oil imports. All eyes will now be on Prime Minister Narendra Modi's visit to Russia during July 8-9, where he is set to meet President Vladimir Putin. This will be Modi's first visit to the Kremlin since the Russia-Ukraine conflict began over two years ago.
US-based electric vehicle maker Tesla is looking to source components worth around $1.9 billion this year against $1 billion last year, Commerce and Industry Minister Piyush Goyal said on Wednesday. The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector. "Tesla already last year bought one billion dollars of components from I think all of you sitting here.... I have the list of companies who supply to Tesla.
Having almost closed the last contours of the limited trade deal and with the announcement of a much larger trade deal in the offing, we have moved to a new level of engagement: Goyal.
On Monday, the EU had temporarily banned imports of Alphonso mangoes, the king of fruits, and four vegetables from India from May 1.
From installing water-saving aerators on taps to using cans for washing hands and dishes, Bengaluru is adopting diverse strategies to tide over the water crisis. While several citizens have taken to social media to urge Karnataka Chief Minister Siddaramaiah to make work from home mandatory for IT companies, it appears that hybrid mode will continue to be the norm for most - although with new water conservation measures in place. Co-working space provider Urban Vault has, for instance, installed smart water meters to detect leakage.
Diane Wang's DHgate makes inroads into India's e-commerce ahead of Jack Ma's Alibaba.
Bharatiya Janata Party's National Democratic Alliance partners have got five cabinet ministerial berths in the third term of Prime Minister Narendra Modi, as against none in the outgoing government, given the party's dependence on allies for a majority in the Lok Sabha.
The $12 billion plus rising Indian e-commerce business market is witnessing a rush of hiring and may need one lakh people over the next six months, industry experts have said.
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.
