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Industry's demand for a reduction in the repo rate, currently 8 per cent, has gained momentum after wholesale and retail inflation eased in February.
Dismal performance by electricity, crude petroleum, coal and cement sectors pulled down the growth in infrastructure to just 2.6 per cent last month compared to a robust 10.2 per cent in July 2002.
The wholesale price-based inflation shot up to an all-time high of 10.49 per cent in April, on rising prices of crude oil and manufactured items. Also, a low base of April last year contributed to the spike in inflation in April 2021. The WPI inflation was 7.39 per cent in March 2021, and (-) 1.57 per cent in April 2020. This is the fourth straight month of uptick seen in the wholesale price index (WPI)-based inflation.
In a major liberalisation, the government on Thursday allowed manufacturing of several hundreds of equipment and products in the defence sector without licence.
The complaint has been received against these online trading entities weeks after an uproar over Flipkart's massive discount sale which had raised concerns of anti-competitive practices.
Production of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity contracted. The record contraction in the growth rate of eight core sectors will affect the Index of Industrial Production.
India could allow global online retailers such as Amazon.com Inc to sell their own products as early as next month, removing restrictions that could boost competition in one of the world's biggest, and most price-sensitive, retail markets.
The Indian government headed by Prime Minister Manmohan Singh, who is known as the architect of the country's liberalisation and economic reforms, is inching towards a "protectionist" regime, top American experts have told US lawmakers.
This lack of regular and detailed disclosure by companies or respondents lies at the core of the problem, one that has gained ground in recent weeks.
Sluggish infrastructure sector growth would also have impact on IIP as these segments account for about 41 per cent of the total factory output.
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 dust over the controversy around foreign direct investment (FDI) in the defence sector appears to have settled.
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.
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.
"We have examined the Bharti-Wal-Mart joint venture and everything is in conformity with the existing policy on FDI in retail," high-level sources in the commerce and industry ministry said.
The Centre will invest around Rs 200 crore over five years for the exploration and development of these mines.
The eight sectors, which also include fertilisers, steel, natural gas, electricity and crude oil, had expanded by 1 per cent in June last year.
Candidates will be short-listed for interview on the basis of the information provided by them in their online application, the statement said.
Such campaigns would badly affect players in the traditional retail market.
IIP is expected to post a subdued volume growth in February 2017
Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
Madhya Pradesh Chief Minister Babulal Gaur is leading a five member delegation to Chicago, New York via London from 25th September 2005 to attract foreign investment in Madhya Pradesh.
Imports too rose by 0.46 per cent to $34.25 billion during the month under review, leaving a trade deficit of $10.36 billion.
The government has held several meetings with e-commerce players to resolve issues arising due to the lockdown, and now witnessing improvement on them daily, a top government official said on Friday. Secretary in the department for promotion of industry and internal trade (DPIIT) Guruprasad Mohapatra said that with lot of follow-ups on their issues, relaxations were given to them by the home ministry.
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.
The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years.
In its new avatar as the Department for Promotion of Industry and Internal Trade (DPIIT), it will directly be responsible for 'the welfare of traders and their employees'.
India's wholesale prices fell to 5.90 per cent in the year to May 10 from 6.03 per cent in the year to May 3, due to lower prices of several manufactured items, the government said on Sunday.\n\n\n\n
Coal, refinery products, electricity and cement production registered a growth of 14.5 per cent, 8.1 per cent, 10.2 per cent and 11.3 per cent, respectively in November, as per the data released by the Commerce and Industry Ministry.
The total coffee production in India was about 3.3 lakh tonnes in 2014-15.
