As per commerce and industry ministry data, food inflation fell to 4.91 per cent in March from 7.79 per cent in the previous month.
The government is considering a proposal to allow 100 per cent foreign direct investment into the country's defence sector, despite stiff opposition from the defence ministry that has raised security concerns.
The wholesale price-based inflation spiked to 12.54 per cent in October, mainly due to rise in prices of manufactured products and crude petroleum. WPI inflation has remained in double digit for the seventh consecutive month beginning April. Inflation in September this year was at 10.66 per cent, while in October 2020 it was at 1.31 per cent.
The state had received six proposals from IT companies for setting up units here involving an investment of Rs 1,410 crore (Rs 14.1 billion, Chatterjee said, adding that these proposals would entail direct employment to 19,000 people and indirect employment to 125,000.
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.
Coal, natural gas, refinery products and cement grew by 16 per cent, 7 .4 per cent, 2.7 per cent, and 16 .6 per cent in April this year, respectively.
Deficit is likely to touch $60 bn this financial year from $40 bn in the previous one.
The government on Wednesday unveiled the FTP for 2015-20.
CAIT had last month also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's decision to approve the deal.
Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.
External Affairs Minister Salman Khurshid on Tuesday said his ministry is contemplating a plan to have people from industry on-board to facilitate on issues relating to economic diplomacy.
The commerce and industry ministry is in talks with state governments to prepare guidelines for setting up local governance bodies inside these tax-free industrial enclaves. Sources said these bodies may either be modelled on the lines of townships developed by state industrial development authorities like the New Okhla Industrial Development Authority (Noida) in Uttar Pradesh, or follow a Jamshedpur-like model, where a corporate house takes care of civic infrastructure.
Federation of Pakistan Chambers of Commerce and Industry President Zubair Ahmed Malik also said that the negative list should also be pruned to boost bilateral trade with India.
The commerce and industry ministry is not in favour of allowing foreign airlines to buy stake in Indian carriers on the ground that the sector is sensitive.
RBI in its policy review last month kept interest rates unchanged and said it sees an upside risk to inflation.
Beijing wants assurance that its investments won't come under scrutiny
Stressing that the Apna Dal-S stands for social justice, Union minister Anupriya Patel on Monday dissociated her party from "Hindutva and all those issues" and said it is ideologically different from the Bharatiya Janata Party.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
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.
Ease of doing business will improve in India with the Industry Ministry planning one stop e-biz portal which can be approached by entrepreneurs for seeking clearances - both central and state.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
Engineering exports grew by 61 per cent to $38.80 billion during the April-December period this fiscal from $24.08 billion in the same period last year.
India imported goods worth $4.23 billion in June from sanctions-hit Russia, up 6.8 times as compared to last year, as demand for shipments of crude oil grew at the fastest pace during the month. Crude oil worth $3.02 billion was imported in June, which translates into a share of 71 per cent of the total imports from Russia, commerce and industry ministry data showed. Similarly, during the April-June quarter, India's imports from Russia were valued at $9.27 billion, up 369 per cent on year.
The reading for March WPI inflation was revised to 6% from 5.7% earlier.
Praise came from one Arun toanother when the new Commerce and Industry Minister Arun Jaitley said that Divestment Minister Arun Shourie was doing exceedingly well.
6 locations in New Delhi and 2 in Mumbai were raided.
The output of eight core sectors grew 8.9 per cent in June, mainly due to a low base effect and uptick in production of natural gas, steel, coal and electricity, official data showed on Friday. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 12.4 per cent in June 2020 due to the lockdown restrictions imposed to control the spread of coronavirus infections. In May this year, these key sectors had recorded a growth of 16.3 per cent, while it was 60.9 per cent in April.
The wholesale price-based inflation rose to an eight-month high of 1.48 per cent in October, as manufactured products turned costlier. The WPI inflation was 1.32 per cent in September and zero per cent in October last year. This is the highest level of wholesale price index-based (WPI) inflation since February when it was 2.26 per cent.
In 2014, the e-commerce industry created about half a million jobs.
Singapore continued to be the largest source of FDI in India followed by Mauritius, the US, the Netherlands and Japan.
Negotiators from were expected to meet in New Delhi on August 28.
Sitharaman, who was holding the Commerce portfolio (Independent charge), was on Sunday promoted to the Cabinet rank as was Goyal.
With the shifting of the Foreign Investment Promotion Board to the finance ministry, the government has now reconstituted the board appointing Finance Secretary S Narayan as its chairperson.\n\n\n\n
As per the procedure of World Trade Organisation, consultation is the first stage of a complaint filed with the global trade body.
The ban has been in force since last Friday.
"We have close to about 175 press notes circulating... the Industry Ministry has taken a decision to put all of these together in a booklet so that the FDI rules become much simpler for a foreign investor."
Coal, crude oil, natural gas, cement, and electricity recorded a negative growth of 8.6 per cent, 5.4 per cent , 3.9 per cent, 4.9 per cent and 2.9 per cent, respectively, in August.
The ED had arrested Chatterjee, who is also the Trinamool Congress secretary-general, on July 23 in connection with its investigation into alleged irregularities in the recruitment drives by the School Service Commission.
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