India and China took their economic relationship a step forward today, signing a memorandum of understanding on 'Expansion of Trade and Economic Cooperation' and recognising the need for "balanced trade".
In a strongly worded letter to Finance Minister Arun Jaitley, Congress' Jairam Ramesh accused him of distorting facts.
The development of the industrial corridor will bring about a revolution in the use of green technologies.
The India and US delegation level talks finalised many issues taking the partnership forward in the 21st century, Anand Sharma, Minister of Commerce and Industry, said while talking to rediff.com.
The target of $500 billion in bilateral trade by 2020 is doable, feels Anand Sharma.
The annual talk-fest of rich and powerful from across the world in snow-laden Alpine resort town of Davos will be attended by nearly 40 heads of government among more than 2,500 global leaders from over 100 countries.
Given the return of near 9 per cent growth, and that too a more broad-based growth covering rural and urban areas, and against the background of rising support prices for farmers, it is now clear that excess demand has come to play a larger role in exerting pressure on the price line.
Union Minister for Commerce and Industry Anand Sharma has shrugged off the recent irritants that have cropped up less than six weeks before US President Barack Obama makes his visit to India as 'transient negativity', and predicted they would 'get dissipated' soon.
The centre will be cautious in withdrawing the fiscal stimulus packages given to key-sectors and will do so only after ensuring growth is sustainable in the economy, Union Minister for Commerce and Industry Anand Sharma said.
FDI inflows in the manufacturing sector rose by almost 45 per cent between October last year and this February.
Sharma says efforts on to bring dissenting ministries on board eBiz platform.
A high-powered British parliamentary committee has written to Prime Minister Manmohan Singh asking if he was consulted over a controversial plan to introduce a hefty 3,000 pounds cash bond for 'high-risk' visitors from India.
US President Barack Obama would meet Prime Minister Manmohan Singh on the sidelines of the G-20 Summit in Toronto, a top Indian official said Wednesday. "The Prime Minister would be traveling for the G-20, he will be meeting President Obama," Union Minister of Commerce and Industry Anand Sharma told Indian media-persons in Washington.
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After a high-level meeting held on Friday chaired by Prime Minister Manmohan Singh, it has been decided that the Commerce and Industry would soon start a consultation process to address 'dangers inherent' in the current model of FDI in brownfield pharma units.
Seeking to spur foreign investments, Finance Minister P Chidambaram has said the Union Cabinet will decide on raising FDI caps in different sectors in the third week of this month.
India on Monday raised serious concerns over the USFDA's audit inspections of Indian pharma companies and 'disproportionate penalties' in some instances and said it would submit a discussion document on the issues to the US.
Over the past five years, US-India trade has more than doubled and the US continues to be India's largest trading partner -- if goods and services are counted -- a total bilateral trade standing at $65.9 billion in 2009.
Keeping in view the approaching Lok Sabha elections, the All Indian Congress Committee has appointed a battery of high-profile spokesmen for the Congress to showcase the achievements of the last 10 years of United Progressive Alliance government and publicise the various sectors where the UPA has performed. Renu Mittal reports
Currently, 100 per cent FDI is permitted in brownfield pharma firms through clearance from the Foreign Investment Promotion Board.
Defence Minister A K Antony has shot down Commerce Ministry's proposal to raise Foreign Direct Investment in defence from 26 per cent to 49 per cent, saying it will be a "retrograde" step and "stymie" the growth of the domestic industry while increasing dependence on foreign manufacturers.
As hard bargains continue for the next four days at the picturesque tourist resort of Indonesia, the ministers., including from the influential developed countries will try and reach agreements on providing windows to the developing nations for their food security programmes and a pact to free the global trade from the procedural hassles at the customs.
When asked about the possibility of talks getting extended for another day, World Trade Organization spokesperson Keith Rockwell said: "The concept of time is flexible in WTO."
Industry is displeased over the failure of the National Manufacturing Policy, which has failed to invite any sizeable investment since it was launched more than two years ago.
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Despite criticism, the investment bank said that it stands by its research.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
The government is believed to be working on a strategy to resolve the matter related to Wednesday's Supreme Court order asking Samsung Electronics Chairman Lee Kun-hee to appear within six weeks before the Ghaziabad trial court in a pending payment case.
The government is considering to tweak FDI policy in retail sector so as to allow global chains like Walmart, Carrefour and Tesco to open multi-brand stores in non-hilly cities with population less than one million.
The first such proposal in the sector has come from the joint venture between Tata-Trent and Tesco Plc, which will open outlets simultaneously in these two states.
Shashi Tharoor has also been retained as the chairman of the panel on Information Technology.
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The company, which sells luxury products, including brands like Cartier, Piaget, Panerai and Montblanc, has also sought few clarifications from the government on conditions for selling sub-brands from the same stores, according to sources.
The Supreme Court had rejected the company's plea for a patent on cancer drug Glivec in April.
UK-based retail major Tesco Plc on Tuesday filed the first application for setting up multi-brand retail outlets in India.
Refusing to budge from its tough stand on food security issues, India pressed for a fair and balanced outcome of the WTO ministerial meeting in Bali.
India's IT services sector witnessed 4.2 per cent growth in 2012-13.
WTO's new director has said that the issue needs to be addressed in a positive manner.
Inspections only in domestic authorities' presence, visiting US drug regulator told
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Trade ministers and diplomats from around 130 countries are participating in the four-day meeting that started on Tuesday.
In January 2006, King Abdullah became the first Saudi monarch in 51 years to visit India.
Tourists aged 18 and over would be forced to hand over 3,000 pounds for a six-month visit visa
The government has already said it is keen on starting ore mining and exports.
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