Wants all services included in tax, with a negative list.
Wholesale price-based inflation rose to an eight-month high of 0.26 per cent in November, driven by a sharp jump in food prices, especially onion and vegetables. The WPI inflation was in the negative or deflationary zone for the past seven months since April and was at (-)0.52 per cent in October. The last positive WPI inflation was recorded in March at 1.41 per cent.
US-based electric vehicle maker Tesla is looking to source components worth around $1.9 billion this year against $1 billion last year, Commerce and Industry Minister Piyush Goyal said on Wednesday. The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector. "Tesla already last year bought one billion dollars of components from I think all of you sitting here.... I have the list of companies who supply to Tesla.
The NASSCOM report said Indian tech industry contributed more than $375 million to the US Treasury between fiscal year 2011-2015
'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?'
High return rates in the e-commerce space are making a dent in the margins of e-retailers.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
His presence matters more than the money he brings.
The total incentive outgo under the ambitious production-linked incentive (PLI) scheme is estimated to be less than Rs. 40,000 crore by the fiscal year 2024-25 (FY25), when it completes the fourth year of implementation, according to the government's internal estimates. This means only a fourth of the allocated Rs 1.97 trillion is expected to be utilised by the end of FY24, indicating that not all the 14 PLI schemes would have taken off fully. While three of the 14 schemes - large-scale electronics manufacturing, bulk drugs, and medical devices - were introduced in 2020, the remaining were launched the following year.
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.
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.
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
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.
Sheikh Hasina was on Thursday sworn in as the prime minister of Bangladesh for the fifth term, days after her Awami League won an overwhelming majority in the general elections boycotted by the main opposition Bangladesh Nationalist Party (BNP) and its allies.
The government on Wednesday unveiled the FTP for 2015-20.
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."
Cyber insurance policies cover ransomware attacks and the ensuing damages, including ransom payments, data restoration costs, forensic and other first-party costs, and loss of profit due to business interruption.
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.
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.
The talks for a free trade agreement (FTA) between India and Canada may have taken a pause but will resume once the political row between the two countries is resolved as the pact has economic benefits for both the nations, trade experts and exporters said on Friday. However, they said that India may not hurry for the trade agreement as 60 per cent of New Delhi's exports are already entering Canada at zero duty. Earlier this month, India and Canada paused the negotiations for the agreement due to political reasons.
Early estimates by Assocham claim that the Olympic torch relay caused financial losses to industry such as airlines, railways and BPO centres. It caused trouble for long-distance travellers and patients in hospitals. The railway platforms remained heavily overcrowded as incoming passengers had no option but to stay on to railway stations due to shrinkage in exit facilities. Hospitality and industry staff night shift staff reported atleast 5 hours late because of traffic jams.
Dressed in colourful attire, members of the Lok Sabha and the Rajya Sabha on Tuesday got their group photograph clicked in the old Parliament building, hours before legislative proceedings shift to the new Parliament House.
To involve local craftsmen in designing the outlets.
From installing water-saving aerators on taps to using cans for washing hands and dishes, Bengaluru is adopting diverse strategies to tide over the water crisis. While several citizens have taken to social media to urge Karnataka Chief Minister Siddaramaiah to make work from home mandatory for IT companies, it appears that hybrid mode will continue to be the norm for most - although with new water conservation measures in place. Co-working space provider Urban Vault has, for instance, installed smart water meters to detect leakage.
According to Chinese officials, its current investments in India stands at $1.1 billion, mostly in Gujarat.
Besides, Federation of Indian Chambers of Commerce and Industry secretary general Amit Mitra, L Suresh, vice president of Film Federation of India, UTV Group chief financial officer Rajeev Waghle, chief financial officer of Reliance Big Films Subhashish Sarkar and Zee Tele films chief executive officer Puneet Goenka, among others, were also part of the delegation.
The working group members have been selected from the board of trade, which met here under the chairmanship of Commerce and Industry Minister Anand Sharma.
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 central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
Union Agriculture and Farmer Welfare Minister Munda, Commerce and Industry Minister Piyush Goyal and Minister of State for Home Affairs Nityanand Rai represented the Centre at the meeting over the farmer unions' various demands, including a law guaranteeing a minimum support price (MSP) for crops. Punjab Chief Minister Bhagwant Mann also joined the meeting at the Mahatma Gandhi State Institute of Public Administration in Sector 26. The meeting started at around 8:45 pm on Thursday and lasted for around five hours.
The Manila-based multilateral lender had extended $2.4-billion loan to India across sectors like transport, energy, commerce, industry, trade and finance in 2012. India is the biggest borrower of ADB.
The department of personnel and training has asked the Union Public Service Commission to recruit such specialists through "lateral entry" mode in 12 government departments/ministries, he said.
Wholesale inflation rate eased to 34-month low of (-) 0.92 per cent in April on easing prices of food, fuel and manufactured items. The wholesale price index (WPI) based inflation has been on a declining trend for 11 months in a row and entered the negative zone in April. In June 2020 WPI was at (-) 1.81 per cent.
On-demand convenience platform Swiggy's food delivery business has turned profitable, making it one of the very few global players in the sector to achieve such a feat in less than nine years since inception, company CEO and co-founder Sriharsha Majety said on Thursday. Bullish on India's journey of eating out and food delivery, Majety, in a blogpost, said, Swiggy is "very sanguine about the growth potential over the next two decades" and would continue to drive further growth in food delivery. "Our sharp focus on innovation, coupled with strong execution has led to yet another milestone.
'The second generation of migrant labourers is not enthusiastic about continuing in this field.' 'The parents of the next generation do not wish their children to be part of this trade.'
'We need a candidate who will do our work and fight with the authorities; someone we can hold accountable.' 'Piyush Goyal is not that candidate.'
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.
