'India is showing a reasonable amount of resilience, but we are still living in a world that is quite fragile.' 'That's why we hope that the government will continue to invest significantly in public capex so that we are able to ride through this cycle till the private sector is able to play its part in investing and adding to the capex cycle.'
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
.jpg)
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.
Mutual fund houses do have several challenges ahead to win more investors.
In all likelihood, the next conventional Chinese attack on India would be preceded by a massive cyber attack designed to cripple Indian networks and interfere with our disaster-relief programmes.
CII said working capital limit enhancement should be accompanied by relaxing norms related to collaterals.
Traders' body CAIT on Thursday urged the government to impose a ban on Amazon's e-commerce portal and its operations in India, accusing the global e-tailing giant of indulging in predatory pricing, deep discounting and inventory control. Addressing a press conference, CAIT secretary-general Praveen Khandelwal demanded an "immediate ban on Amazon's portal and its operations in India" and an investigation against the company in a time-bound manner. He also urged the government to probe the business practices of Amazon and Flipkart. However, responding to the allegations, both Amazon and Flipkart said they remain compliant with Indian laws.
Partial lockdown measures may impact movement of labour & goods, they say.
The National Company Law Appellate Tribunal (NCLAT) on Monday rejected Amazon's plea challenging the decision of fair trade regulator CCI to suspend the approval for the e-commerce major's deal with Future Coupons. A two-member bench comprising Justice M Venugopal and Ashok Kumar Mishra, upheld the findings of the Competition Commission of India (CCI) and directed it to pay the penalty of Rs 200 crore imposed on Amazon by the fair trade regulator within 45 days from Monday. "This appellate tribunal is in complete agreement" with the CCI, the two-member bench said.
The Narendra Modi-led government has issued around 50 fresh guidelines easing conditions for industry in about six months, beside launching an online system for applying environment clearances.
India Inc on Tuesday expressed deep reservations over the supplier liability provision -- the contentious Clause 17(b) -- in the Civil Liability for Nuclear Damages Bill, 2010, saying it would seriously hinder nuclear commerce.
Rahul Gandhi spoke about his vision of empowering women and giving voice to the people of billion-strong nation.
'It will send a very strong signal that it is now our time to grow.'
Industry sources told India Abroad they wouldn't shed any tears if the legislation died in the House.
With a large gathering of corporate leaders in attendance at the function in Mumbai even as the master blaster played his last test match at the nearby Wankhede Stadium, the Finance Minister said, "Ratan (Tata) is as big a draw as Sachin."
In a response to the August 3 order, the Centre, represented by Solicitor General Tushar Mehta, said till the time either the legislature or the poll panel steps in, the top court must lay down "dos and don'ts" for political parties in the 'larger national interest.'
India Inc on Tuesday welcomed the 0.25 per cent interest rate cut by the Reserve Bank saying it would help revive confidence of industry and hoped for further cuts in the coming days.
'You have to explain to them about Indian investments in the US creating jobs this reverse outsourcing'
The issue is set to be discussed early next week as the commerce department meets with industry bodies to discuss the widening supply gap for key imports.
Industry chamber Confederation of Indian Industry said successive hikes in interest rates have had a dampening impact on industrial growth.
Infosys chairman and Aadhaar architect Nandan Nilekani will join a panel set up by the central government, along with eight other members, to advise the government on designing and accelerating adoption of Open Network for Digital Commerce (ONDC), aimed at curbing digital monopolies. The larger idea is to give 'free and fair' choice to consumers to buy products on an online platform, a senior government official said.
According to the industry body, the 16-member RCEP has the potential to become one of the largest and economically dynamic trading blocs of the world, even bigger than the European Union.
Country's apex business chambers -- CII, Ficci and Assocham -- have said the WTO draft on Non-Agriculture Market Access under the Doha Round of trade talks was in complete disregard to the mandate of the round, which had to revolve around lesser obligation on the developing countries for duty reduction.
Modi will be arriving in Mumbai on Friday to inaugurate the 'Make in India' event at the MMRDA grounds in Bandra Kurla Complex followed by an event at National Sports Club ground in Worli.
RBI has been on a rate hike spree since March 2010.
IT major Wipro's chief Azim Premji on Friday cautioned the industry that competition globally is hotting up and warned the sector against falling into a mind trap of 'India Advantage'.
In his first interaction with India Inc, Rahul Gandhi said the politics of alienating communities is affecting growth.
Last November, a lawyer for Future Retail Limited (FRL) told Delhi high court that Amazon is interfering with its lawful business and thousands may lose their jobs and FRL may go bankrupt. Senior advocate Harish Salve, who appeared for FRL, likened Amazon to East India Company. Senior advocate Gopal Subramanium, who represented Amazon, told the Future counsel to keep the "East India Company" rhetoric aside, as Amazon has invested $6.5 billion all over India and created 900,000 jobs. This drama played out in the case in which Amazon has challenged Future's $3.4-billion deal with Reliance, alleging the retailer's deal breached an agreement with the American e-commerce firm.
On the high costs facing the Indian airline industry, Goyal said the factors included a depreciating rupee against the dollar, escalating jet fuel prices, high taxes and rising infrastructure costs.
Industry body Confederation of Indian Industry said with the government having announced a clear road map for fiscal consolidation and non-food inflation demonstrating a secular decline, conditions are conducive for RBI to have intervened with a repo and cash reserve ratio reduction.
India drops two places from its last year's position on the Global Innovation Index 2013.
As per the latest government data, India's second quarter economic growth inched up to 4.8 per cent during second quarter (July-September) of 2013-14, well above 4.4 per cent in the first quarter (April-June).
After the Covid-19 pandemic that derailed the economy since 2019, the Durga Puja festival in West Bengal is back with an estimated 20-30 per cent jump in festive spending. Retail sector is the key contributor to the state's Durga Puja economy which was Rs 32,377 crore in 2019, according to a British Council study conducted for the state government. Retail accounts for 85 per cent of the total puja economy and the rest is shared among pandal making, decoration, illumination, entertainment, advertisement, food & beverage and others.
Several fiscal and monetary incentives since December 2008 helped the industry to recover into a growth trajectory. The 10 per cent plus growth in manufacturing, basic goods, mining, electricity has been buoyed by these measures, Confederation of Indian Industry said.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
'India's future: To manufacture so efficiently that we do not need protection,' says Naushad Forbes.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances