An undeterred Chief Executive Officer of NSO Group, Shalev Hulio, in an interview to Israeli Channel 12 on Saturday, strongly defended the company's operations, though he also conceded that some 'mistakes' may have happened over the years.
Officials in the government, however, said India could only lodge a protest and not take legal action against the US.
The minister, however, said she was not in favour of relaxing rules for Apple to sell refurbished second-hand phones in India
With the fall of Congress, Chidambaram's political graph too started moving southwards.
The Commerce Ministry wants the Reserve Bank to reduce interest rate for dollar credit in its forthcoming monetary policy to help sustain the fledgling recovery in the exports sector.
Credit to priority sectors as well as small and medium industries will be discussed to find ways to accelerate economic growth.
Trade deficit with China has risen to $40 billion, a cause for worry.
It was expected that supplies from China will be back to normal by end-June as their factories are now operating at nearly 90 per cent of normal capacity. But the recent issue with shipments has placed an obstacle that manufacturers can't bypass.
'It is entering growth territory on a month-on-month basis.'
Just days before the G-20 summit in London, the commerce ministry has recommended anti-dumping duty on cold-rolled stainless steel originating in eight countries, including China.
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
The government also appointed Dr Vinod Paul, a pediatrician at the AIIMS, as a member of the NITI Aayog
India Inc has couter attacked claims by US presidential candidates about the drain of jobs from US to India.
Batting for exporters hit hard by global downturn, Commerce and Industry Minister Anand Sharma on Monday met Finance Minister Pranab Mukherjee and made out a strong case for fiscal relief for the export sector in the Budget next month.
The government is likely to announce significant policy measures relating to allowance of foreign direct investment (FDI) in the multi-brand retail segment, even as the Department of Industrial Policy and Promotion (Dipp) under the Ministry of Commerce and Industry is giving final touches to the draft report prepared by an inter-ministerial committee.
Fresh guidelines were issued by the government on Wednesday for enforcing the second phase of the coronavirus lockdown, with the Union home ministry barring all kinds of public transport and prohibiting opening of public places during this period.
Rao added that the agreement on relaxing the visa regime for Pakistan businessmen would be notified soon.
Various start-ups have raised concerns on notices sent to them under the Section 56 of Income Tax Act to pay taxes on angel funds received by them.
The Ministry of Commerce and Industry will go ahead with the proposal for 2D barcoding and a unique 'randomly generated numeric code' on packets of medicine destined for export, a senior official said.
Increase in gold imports pushed the country's trade deficit to a five-month high of $ 15.33 billion in April.
The 80:20 rule mandates importers to channel at least 20% of the import quantity for jewellery exports.
As India looks to mend its Covid-battered economy, one thing that will grab the attention of all concerned is the path that both wholesale and retail inflation will follow. Even the Reserve Bank of India in its latest policy statement said, "Going forward, the inflation trajectory is likely to be shaped by uncertainties impinging on the upside and the downside.
Registering a jump of 10 places in the rankings, Uttar Pradesh occupied the second position in 2019 as against 12th in 2018.
Raheja's IT SEZ planned at Verna industrial estate had faced stern opposition from the locals and the state government even after it was notified by the Union commerce ministry's board of approval. The state government has written to the Union commerce ministry seeking to denotify Raheja's SEZ along with two others.
The exponential number of downloads can be attributed to a call by Prime Minister Narendra Modi, asking people to have the app on their mobiles, combined with the government's push for downloading of the app through other channels, reports Neha Alawadhi.
A closer look at the data reveals that a lot of the items are not part of this calculation. The notable ones include buffalo meat, marine exports, raw cotton, and plantation crops such as tea, coffee, rubber, etc.
Shinzo Abe is planning to come to Guwahati for annual summit talks with his Modi from December 15-17.
The trade deficit widened to $12.8 billion last month
The department of industrial policy and promotion, nodal agency for FDI policy under the ministry of commerce and industry, seems to have prepared a note for the Cabinet Committee of Economic Affairs to consider.
Global sentiment has turned very positive for India
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
The commerce ministry and industry bodies are in favour of FDI in the education sector. However, the HRD ministry is opposed to it.
A stern articulator with outspoken views and a dignified personality, Sitharaman now bears the responsibility of steering the economy which has witnessed sluggish growth in recent quarters.
The Department of Industrial Policy and Promotion under the commerce ministry has floated a draft Cabinet note for inter-ministerial discussions on foreign direct investment in aviation.
The measures have been mainly offered to the leather, marine, handicrafts and textiles industries though some global benefits have also been included.
Top gainers in the Sensex pack included Sun Pharma, IndusInd Bank, RIL, ITC, Vedanta, Asian Paints, HDFC and Infosys, advancing up to 3.02 per cent.
The trade deficit narrowed to $10.84 billion, from $12.23 billion in July.
The Forum is organised by Singapore Indian Chambers of Commerce and Industry, with the partnership of state-trade agency IE Singapore, the Confederation of Indian Industry and the Singapore Chinese Chamber of Commerce and Industry.
Demand will boom in the US and China, but exporters say it will be difficult for India to tap these markets.
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