Fresh guidelines issued by the Union home ministry on Wednesday permit industries operating in rural areas to run from April 30 with strict social distancing norms.
Without making big-ticket changes in the economic ministries, Prime Minister Manmohan Singh on Tuesday shifted Law Minister M Veerappa Moily to the ministry of corporate affairs and inducted young Milind Deora in his council of ministers.
Business chamber Assocham has asked the government to accord industry status to organised retail sector, which would improve investment inflows into the sector and increase its share in this segment. The move would increase the share of organised retail in the overall sector to 20-22 per cent from the current 3 per cent, Assocham said.
The Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce has called a meeting on July 10 to discuss the foreign direct investment (FDI) policy in the cigarette industry.
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
The wholesale price-based inflation bucked the 4-month rising trend in December 2021, and eased to 13.56 per cent, mainly on account of softening in fuel, power and manufacturing items even though food prices hardened. WPI inflation has remained in double digits for the ninth consecutive month beginning April. Inflation in November was 14.23 per cent, while in December 2020 it was 1.95 per cent.
Ensuring health insurance for all workers would be major challenge for the industry that is already grappling with cash crunch, and the government should have borne the cost.
Union Commerce and Industries Minister Kamal Nath on Friday said he disagreed with the finance ministry on the controversial fringe benefit tax, saying the tax laws should be made simpler.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The grievance redressal mechanism of many big e-commerce players is not up to the mark as the number of complaints received by the National Consumer Helpline has risen sharply over the last four years, Consumer Affairs Secretary Rohit Kumar Singh said on Thursday. Addressing an event organised by the Public Affairs Forum of India (PAFI), Singh said the number of complaints registered on the National Consumer Helpline (NCH) has gone up to 90,000 in November compared to 40,000 in the same month last year. "Four years back, the number of complaints pertaining to e-commerce transactions was 8 per cent of the total complaints.
The background work of creating a suitable digital architecture of a website also remains unfinished as it has been a challenge to shortlist technology partners.
The wholesale price-based inflation rose to 2.03 per cent in January, 2021, even as food prices cooled. The WPI inflation was 1.22 per cent in December, 2020 and 3.52 per cent in January last year. While food articles saw softening in inflation in January, manufactured items witnessed hardening of prices, as per data released by the Commerce and Industry ministry.
The central government is devising a mechanism to step up screening imports to protect domestic manufacturers. The details of the online monitoring system may find mention in the foreign trade policy 2021-26, which will kick in next month. The online system will make the data available to the government as well as industry about the countries from where the goods are being imported, and their quantity and quality. The data can help domestic producers analyse the market potential for such goods, said a senior government official. In the past 16 months, the government had implemented a steel- and coal-import monitoring system.
The big boys of India's traditional retail have finally come together to fight the onslaught of their online counterparts.
Foreign direct investment (FDI) in India grew 40 per cent to USD 51.47 billion during April-December 2020-21, according to government data released on Thursday.
The tourism industry expects a short-term impact, as it is counting on the state's proven expertise in managing such crises.
The wholesale price-based inflation eased for the second consecutive month in January at 12.96 per cent, even though food prices hardened, the government said on Monday. WPI inflation has remained in double digits for the tenth consecutive month beginning April 2021. Inflation in December 2021 was 13.56 per cent, while in January 2021, it was 2.51 per cent.
'There is a need for a national task force with a singular objective to increase automotive exports.'
The wholesale price-based inflation eased to 10.66 per cent in September, helped by moderating food prices even as crude petroleum witnessed a spike. WPI inflation remained in double-digit for the sixth consecutive month. In August, it was 11.39 per cent. In September 2020, inflation was 1.32 per cent. "The high rate of inflation in September 2021 is primarily due to rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum & natural gas, chemicals and chemical products etc. as compared the corresponding month of the previous year," the commerce and industry ministry said in a statement.
Industry lobbies have begun pre-budget consultations with the Union finance ministry for 2010-11.
The wholesale price-based inflation rose to a four-month high of 14.55 per cent in March, mainly due to hardening of crude oil and commodity prices, even though vegetables witnessed easing of price pressures. As per the government data released on Monday, WPI inflation has remained in double digits for the 12th consecutive month beginning April 2021. The last time such a level of WPI was recorded was in November 2021, when inflation was 14.87 per cent.
India will unveil its much-awaited new Foreign Trade Policy 2023-28 on Friday, with a view to boost exports amid slowing global trade. Commerce and Industry Minister Piyush Goyal will announce the foreign trade policy, according to the ministry. The current foreign trade policy (2015-20) is in force till March 31, 2022.
The Supreme Court on Friday said lawyers and professionals with 10 years of experience will be eligible for appointment as president and member of the state consumer commission and district forums.
The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to $2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed, said Director General of Foreign Trade (DGFT) Santosh Sarangi while briefing media about FTP 2023. Earlier, Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1, 2023.
Major portfolios like home, finance and education were on Tuesday allocated to People's Democratic Party ministers by Jammu and Kashmir Chief Minister Mufti Mohammed Sayeed who will himself hold the charge of home ministry.
Total foreign direct investment (FDI) inflow to India declined to $74.01 billion in the calendar year 2021, which is 15 per cent lower from $87.55 billion recorded in the previous year, the ministry of commerce & industry said on Wednesday. The FDI inflow includes equity inflow, equity capital of unincorporated bodies, re-invested earnings and other capital. "FDI is largely a matter of commercial business decisions and FDI inflow depends on a host of factors such as availability of natural resource, market size, infrastructure, political and general investment climate as well as macro-economic stability and investment decision of foreign investors.
The talks for a free trade agreement (FTA) between India and Canada may have taken a pause but will resume once the political row between the two countries is resolved as the pact has economic benefits for both the nations, trade experts and exporters said on Friday. However, they said that India may not hurry for the trade agreement as 60 per cent of New Delhi's exports are already entering Canada at zero duty. Earlier this month, India and Canada paused the negotiations for the agreement due to political reasons.
Foreign direct investments (FDI) into the country grew 19 per cent to $59.64 billion during 2020-21 on account of measures taken by the government on the fronts of policy reforms, investment facilitation and ease of doing business, the commerce and industry ministry said on Monday. Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to the "highest ever" of $81.72 billion during 2020-21 as against $74.39 billion in 2019-20. "FDI equity inflow grew by 19 per cent in 2020-21 ($59.64 billion), compared to 2019-20 ($49.98 billion)," the ministry said in a statement. In terms of top investor countries, Singapore is at the top with 29 per cent share.
The wholesale price-based inflation surged to more than a decade high of 14.23 per cent in November, mainly due to hardening of prices of mineral oils, basic metals, crude petroleum and natural gas. WPI inflation has remained in double digits for eight consecutive months beginning April. Inflation in October this year was at 12.54 per cent, while in November 2020 it was at 2.29 per cent. "The high rate of inflation in November 2021, is primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products etc as compared to the corresponding month of the previous year," the commerce and industry ministry said in a statement on Tuesday.
The California walnuts shipped from the US to India have seen a sharp uptick with imports more than doubling from September to November against the same period last year. This comes after New Delhi removed its retaliatory customs tariffs on the key dry fruit. Two days ahead of US President Joe Biden's visit to New Delhi to attend the G20 Summit on September 9-10, India dropped additional customs duties on about half a dozen US goods that were imposed in 2019 in response to America raising tariffs on certain steel and aluminum products coming from India.
The drug maker will lose some incentives if its membership is suspended, sources in Pharmexcil said.
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
The case has been registered against entities such as the Halal India Private Limited Chennai, Jamiat Ulama-i-Hind Halal Trust Delhi, Halal Council of India Mumbai, Jamiat Ulama Maharashtra and others for allegedly exploiting religious sentiments to boost sales by providing halal certificates to customers of a specific religion, the UP government said in a statement on Saturday.
The Centre will invest around Rs 200 crore over five years for the exploration and development of these mines.
Such a high level of WPI was last recorded in October 2012, when inflation was 7.4 per cent.
The wholesale price-based inflation eased for the eighth consecutive month to 4.73 per cent in January on easing prices of manufactured items, fuel and power. The wholesale price-index (WPI) based inflation rate was 4.95 per cent in December 2022 and 13.68 per cent in January 2022. Inflation in food articles, however, rose to 2.38 per cent in January, from (-) 1.25 per cent in December, 2022.
Volatility in investments concern for RBI.
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