The commerce and industry ministry has informed the Prime Minister's Office that the Bharti Group has conveyed to the government that its joint venture with Wal-Mart was in compliance with the existing FDI policy.
Over 65 Union ministers are likely to take oath, going by the visual of the meeting Modi held with his likely council of ministers.
The wholesale price index-based inflation remained in the negative territory for the sixth straight month in September at (-)0.26 per cent, on easing prices of food articles. The WPI-based inflation rate has been in the negative since April and was (-)0.52 per cent in August. In September last year, it was 10.55 per cent.
"We are concerned about the data localisation law and the new e-commerce regulations...they do not fully take into account the needs of all stakeholders, including American and other foreign companies," acting principal deputy assistant secretary of the US, Thomas Vajda said.
Global investment firm KKR will invest Rs 2,069.50 crore in Reliance Retail Ventures Ltd for a 0.25 per cent additional stake of the retailer at a valuation of about Rs 8.36 lakh crore, Reliance Industries Ltd said on Monday. After this investment, KKR's shareholding in Reliance Retail Ventures Ltd (RRVL), the holding company of the retail business of billionaire Mukesh Ambani-led RIL, will increase to 1.42 per cent from 1.17 per cent. The investment is at "a pre-money equity value of Rs 8.361 lakh crore (around $100.87 billion)", said a joint statement.
Trinamool Congress Member of Parliament Saugata Roy has resigned as adviser to the West Bengal government's Commerce, Industries and IT Ministry over alleged differences with Chief Minister Mamata Banerjee.
As a model of transport, the A380 strikes a parallel -- a shared fragility -- with giant container ships, observes Shyam G Menon.
'What has happened at Byju's is no surprise to anyone.'
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
Global investment management firm Bernstein has pegged the enterprise valuation of Reliance Industries (RIL)'s 85 per cent stake in Reliance Retail at $111 billion, while valuing the Mukesh Ambani-led company's 66.5 per cent stake in telecom and digital platform arm Reliance Jio at $88 billion. Reliance Industries had earlier planned to list both its subsidiaries to unlock value for its shareholders but hadn't fixed any timeline. The report said that Reliance Retail had raised $6 billion by diluting a 10.1 per cent stake, while Jio Platforms raised $20 billion from investors by selling 33 per cent in 2020.
'I tell those in their 20s that age is on their side and they should start exercising early.' 'Just like investing in good stocks, if they start early, they will get the multiplier effects of being healthy, fit and strong later in life.'
Geopolitical headwinds leading to lower demand from export markets, coupled with lower domestic buying, have dragged the auction average of Darjeeling tea to its lowest level since 2015. Data from Calcutta Tea Traders Association (CTTA) shows that the average price of Darjeeling tea at Kolkata auctions for January-December 2023 was Rs 319.74 per kg. The last time it dipped below this level was in 2015 at Rs 285.71 per kg.
While the formulation is being worked out by the commerce ministry, the industry and export community is also in touch with senior functionaries in the finance ministry.
It is being suggested that apps, such as WhatsApp and Telegram, should share their APIs with each other to ensure there is interoperability, just as it exists across email services.
'Due to rural stress, volumes continue to remain an issue for the industry, and we are yet to see any revival in demand.'
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The growth of eight key infrastructure sectors rose to a 14-month high of 12.1 per cent in August 2023 against 4.2 per cent a year ago, mainly due to expansion in production of coal, crude oil, and natural gas, according to the official data released on Friday. The expansion in August is the highest since June 2022, when it was 13.2 per cent. The production of refinery products, steel, cement and electricity also grew in August, the data showed.
The IAS officer was later taken into custody under the provisions of the Prevention of Money Laundering Act and is expected to be produced before a magistrate seeking his remand, the sources said.
Punjab Chief Minister Bhagwant Mann also joined the meeting at the Mahatma Gandhi State Institute of Public Administration in Sector 26 in Chandigarh.
Contracting for the ninth consecutive month, the output of eight core infrastructure sectors dropped by 2.6 per cent in November, mainly due to decline in production of natural gas, refinery products, steel and cement. The production of eight core sectors had recorded a growth of 0.7 per cent in November 2019, data released by the commerce and industry ministry showed on Thursday. Barring coal, fertiliser and electricity, all sectors -- crude oil, natural gas, refinery products, steel and cement -- recorded negative growth in November 2020.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
Barring fertiliser, all seven sectors -- coal, crude oil, natural gas, refinery products, steel, cement and electricity -- recorded negative growth in July.
A panel of Union ministers will hold a fourth round of talks with farmer leaders in Chandigarh on Sunday over their demands, including loan waiver and bringing an ordinance on giving legal guarantee to a minimum support price (MSP) for crops.
The president of République Française needed to attend the inaugural game of the rugby World Cup at the Stade de France in Paris on Friday night.
Buoyed by the success of e-commerce players like Jabongand Myntra, textile companies like Arvind Ltd, TT Ltd and Creative Lifestyles, among others are exploring the online market through their own e-commerce platforms.
The chamber has sought clarity from government to remove uncertainty among businesses
Referring to an action against farmers by the security personnel deployed by the Haryana authorities at the Punjab-Haryana border, Pandher slammed paramilitary personnel for using "force" against farmers, leaving many injured.
Eyeing $9 billion business opportunity in booming e-commerce business, India Post, which has the biggest network and serves the last mile, is boosting its infrastructure for real-time tracking of parcels through satellites using a new technology.
The threat may be a decade away, but it has brick-and-mortar sellers rethinking their strategies and banking on the govt to regulate online companies.
Exports of electronics goods has risen by 24 per cent from April to November as compared with the same period in the last fiscal, the largest increase out of India's top 10 export categories. The increase has been propelled by mobile exports under the Production Linked Incentive (PLI) scheme and has pushed electronics up from sixth to fifth position in the top 10. A gap of $200 million separates electronics from occupying the fourth position, currently held by drugs and pharmaceuticals at $17.9 billion.
Five firms, including ACC Ltd, HDFC Asset Management Company and FSN E-Commerce Ventures that runs Nykaa, will be dropped from Nifty Next 50 index from September 29. NSE Indices Ltd, an arm of the National Stock Exchange, on Thursday said that Indus Towers and Page Industries will also be dropped from the index. Punjab National Bank, Trent, Sriram Finance, TVS Motor Company, and Zydus Lifesciences will be included in the Nifty Next 50 index, NSE Indices said in a statement.
Whether the age-old cry of kendrer banchana will be able to drown out pangs of Sandeshkhali, the EVM will tell.
The e-tail venture plans to initially offer apparel, electronics and footwear products.
Ma is also exploring strategic play in one of the largest media houses in India.
The junior Abdullah would be banking heavily on Shia support as the constituency has many Shia dominated areas that include Budgam, Beerwah, Pattan, Sonawari and Bandipora, among other pockets.
What will it take to get India's poor broadband penetration to be seen as a problem and not as a condition, thus enabling real, serious e-commerce to take off in India?
Even as the government today gave Saurabh Chandra, secretary, department of industrial policy and promotion (DIPP), the additional charge of secretary, Department of Commerce, Dinesh Kumar Mittal has emerged as the front runner for the post.
Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
The $12 billion plus rising Indian e-commerce business market is witnessing a rush of hiring and may need one lakh people over the next six months, industry experts have said.
Sale of Apple's iPhone 15 is estimated to have registered a 100 per cent growth compared to that of the iPhone 14 series on the first day with high demand for made-in-India iPhone 15 and iPhone 15 Plus models, according to industry sources. Apple has for the first time made available the 'made-in-India' iPhone on the same day it started selling the devices in the country and other parts of the globe. "Till evening, 6 pm IST, the sales of iPhone 15 series have recorded over 100 per cent growth on Day 1 compared to the sale of iPhone 14.
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