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.
'Traders have stocked up for upcoming festivals and will make a loss if stores remain shut now. We suffered last year. We can't suffer again. There is no scientific basis for closing all commercial establishments. How long will the government keep them shut?'
'In India, the GenAI startup ecosystem is unfolding with remarkable speed, signalling a new era of technological advancement and investment opportunities.'
Well aware that the government cannot control inflation through RBI's monetary tools only, the Centre tried to inbuilt a supply-augmenting mechanism in the economy by opening multi-brand retail to 51 per cent FDI, but vehement opposition from the Opposition and even some of the United Progressive Alliance allies forced it to hold back the decision.
Isha's stab at the bottom of the laptop pyramid shows she is a true Ambani.
'How many voices from that time have stood the test of time?' 'There have been RJs before him and after him, but no one has enjoyed his popularity and longevity.'
The wholesale price-based inflation declined to 4.95 per cent in December 2022, mainly due to fall in prices of food articles and crude petroleum. The Wholesale Price Index (WPI)-based inflation was 5.85 per cent in November 2022 and 14.27 per cent in December 2021. Inflation in food articles was (-)1.25 per cent, while in fuel and power it was 18.09 per cent during December 2022.
The West Bengal government may consider asking companies to directly purchase land for all industrial projects, including the Salim group's proposed SEZ.
The drug maker will lose some incentives if its membership is suspended, sources in Pharmexcil said.
The US is taking several measures, such as increasing the number of staffers, to further facilitate the issuance of business visas in India, a senior US government official said on Tuesday. "We have also made significant progress by issuing more H1B and L visas in 2022 than we did even in 2019 before the pandemic. "This is a significant improvement. We are in the process of raising our staff," Arun Venkataraman, US Assistant Secretary of Commerce for global markets, said.
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 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.
Industry lobbies have begun pre-budget consultations with the Union finance ministry for 2010-11.
Reversal in the declining economic growth trajectory is clearly the need of the hour and all steps should be taken to bring about this change.
As many as 44 flights to and from the Kempegowda International Airport in Bengaluru were cancelled owing to the Karnataka bandh over the Cauvery water sharing issue with Tamil Nadu, airport authorities said.
The proposed e-commerce rule book issued recently by the ministry of consumer affairs does not mention foreign companies or foreign direct investment (FDI) at any place, unlike most other government guidelines for the sector so far. That is a heartening development since the latest proposals could be fine-tuned as e-commerce policy.
Wants all services included in tax, with a negative list.
The NASSCOM report said Indian tech industry contributed more than $375 million to the US Treasury between fiscal year 2011-2015
The Indian industry is not yet fully prepared for the complete elimination of tariffs in the World Trade Organisation identified seven key sectors, including textiles and auto components, the PHD Chamber of Commerce and Industry has said.
High return rates in the e-commerce space are making a dent in the margins of e-retailers.
Sitharaman has held pre-budget meetings to elicit views of various sections including representatives of chambers of commerce and industry.
His presence matters more than the money he brings.
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.
During April-August, the eight sectors grew by 4.4 per cent, against 4.2 per cent in the year-ago period.
Industry bodies Confederation of Indian Industry and Federation of Indian Chambers of Commerce and Industry have asked for cut in interest rates to spur the sagging economy while presenting 100-day action plans to the government on Friday. Faced with high borrowing rates and demand slowdown,industry chambers have presented separate 100-day action plans to the government asking for steps to restore the economy back on high growth trajectory.
More people working in India's technology industry have lost their jobs in the first six months of 2023 than in the corresponding period in 2022.
Reliance Retail Ventures Ltd (RRVL) is discussing a three-pronged plan that includes an additional divestment of $250-300 million this year, apart from what it has diluted in favour of the Qatar Investment Authority (QIA) and US-based private equity fund KKR recently.
Reliance Industries invested Rs 30,000 crore (around $3.76 billion) in its retail business and added 2,500 stores, taking the total store count to 15,196 in FY22. Besides, Reliance Retail added 11.1 million square feet of warehousing space during the year, nearly doubling the warehousing space to 22.7 million square feet, Reliance Industries Ltd (RIL) said in the annual report for FY22. In FY22, Reliance Retail added over 1.50 lakh jobs, taking its total headcount to 3.61 lakh.
"India is the best market right now in the world with the digital initiatives the government has implemented
Most players are looking to invest anywhere between $500 million and $1 billion in new ventures in the next couple of years, said experts on this segment.
The government on Wednesday unveiled the FTP for 2015-20.
A survey by the Confederation of Indian Industry and Ascon for the April-June quarter reveals that almost half of the respondent companies recorded a growth rate in excess of 10 per cent. A study by the Federation of Indian Chambers of Commerce and Industry projected a growth rate of 9.5 per cent for the sector in 2008-09.
The draft e-commerce rules released last year held e-commerce marketplace responsible if a seller on its platform failed to deliver the goods or services ordered by a consumer "due to negligent conduct, omission or commission of any act by such seller", causing loss to the consumer.
Describing the new Exim Policy as 'bold and pragmatic', industry and exporters' association, on Monday, hailed it saying, "The policy would help India achieve one per cent share of global exports by 2007."
Prime Minister Narendra Modi, who is in the United States for a three-day state visit, has gifted an eco-friendly lab-grown 7.5 carat diamond, placed in Kashmir's exquisite Papier mache box, to First Lady Jill Biden.
Aditya Birla Group has announced its foray into the branded jewellery space with an investment of around Rs 5,000 crore and will battle it out with Titan's Tanishq and Reliance Industries- Reliance Jewel. The business will be housed in a new venture, "Novel Jewel", and will open large-format exclusive stores across the country with its in-house jewellery brands, the company said in its release. "The new venture will seek to transform customer experience by creating an aspirational national brand with unique designs and a strong regional flavour.
Indian exporters are keeping their fingers crossed on account of rising Covid infections in China and other countries as it could again disrupt supply chains and affect demand for goods. Federation of Indian Export Organisations (FIEO) director general Ajay Sahai said that if the cases continue to increase in the coming days, it may have implications on imports. "We are keeping our fingers crossed," he said.
The decision to revise the target by $10 was taken in New Delhi at the India-Africa Ministers Round Table conference chaired by Commerce, Industry & Textiles Anand Sharma.
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