India's gain will be an additional business of $300 million to $400 million per month if 10-11% of Bangladesh's export is diverted to Indian hubs like Tiruppur.
The China threat continues to resonate in the strategic partnership between India and the USA, points out Rup Narayan Das.
Among the 30 Sensex companies, Power Grid, Axis Bank, State Bank of India, Bajaj Finserv, Reliance Industries and NTPC were the biggest gainers. Tech Mahindra, Infosys, Wipro, HCL Technologies and Titan were among the laggards.
The central government and the Reserve Bank of India have devised a country-specific plan towards implementation of overseas trade in rupee, people aware of the matter said. To start with, a small number of banks will be allowed to manage cross-border transactions in domestic currency with a particular country. "Small countries that are dollar-deficient have shown interest in doing trade in rupee.
Union Home Minister Amit Shah asserted that the abrogation of Article 370 in 2019 was crucial in ending terrorism in Kashmir. He stated that the provision fostered separatism among Kashmiri youth and impeded the region's full integration into India. Shah also highlighted the development initiatives undertaken in Jammu and Kashmir post-Article 370, including a reduction in terrorism, successful local body elections, and an increase in tourism and film production. He emphasized the significance of writing India's history with facts and evidence, countering narratives that had obscured the country's rich heritage.
With most states on board to raise revenue so that they do not have to depend on Centre for compensation, the GST Council at its meeting next month is likely to consider a proposal to do away with the 5 per cent slab by moving some goods of mass consumption to 3 per cent and the remaining to 8 per cent categories, sources said. Currently, GST is a four-tier structure of 5, 12, 18 and 28 per cent. Besides, gold and gold jewellery attract 3 per cent tax. In addition, there is an exempt list of items like unbranded and unpacked food items which do not attract the levy.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
The government may roll out a new foreign trade policy (FTP) of a shorter term of two-three years in a bid to keep pace with the fast-evolving scenarios in international trade which have been triggered by recent disruptions, such as the pandemic and the Russia-Ukraine war. An FTP is an elaborate policy guideline and strategy to promote the export of goods and services, with a duration of five years usually. The existing policy came into force on April 1, 2015, and was valid for five years, before multiple extensions.
Work on a dozen decisions to start by next week.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
'Higher interest rates make gold less attractive as it doesn't generate yield.' 'However, with rates set to fall, the tables are turning for gold.'
The proposed India-Israel trade pact should be beneficial to both nations and until New Delhi gets a good deal, it would not do an agreement, Commerce and Industry Minister Piyush Goyal said. India and Israel are negotiating a free trade agreement (FTA) since May 2010. "With Israel, until we get a good deal, we will not do an FTA. It has to be reciprocally beneficial," the minister said in San Francisco on Tuesday while interacting with the Indian community.
The shutdown has been complete in not only major cities like Kohima, Dimapur and Mokokchung, but even smaller towns such as Tuli, Jalukie, Pfutsero, CNCCI president Khekugha Muru told PTI.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
'It is notable how humble he was and didn't want anything different just because he was a Tata.'
Efforts to normalise trading relations expected during the first such meet on Saturday
India on Wednesday blocked an attempt by a group of WTO countries led by China to push an investment facilitation pact in the agenda of the ministerial conference here, a move which may ensure that the proposal is unlikely to be part of the final outcome document, an official said. The 13th Ministerial Conference (MC-13) of the World Trade Organisation (WTO) is underway. Commerce and Industry Minister Piyush Goyal, along with his team, is here for the meeting, which started on February 26.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
Diamond industry expects revenues to drop by 20-25% in the current financial year.
The court said a social media influencer is expected not to try to play the role of a professional without any backing to substantiate what is being shared by them.
As India goes into firming up trade deals with developed nations like Australia, the United Kingdom (UK) and the regional bloc, and the European Union (EU), it will have to be well prepared to negotiate on new-generation issues, such as data protection regulation, e-commerce, and environment. India is yet to negotiate pacts with its trading partners on these evolving issues since discussions between them have until now been largely focused on tariff and non-tariff barriers and the rules of origin. "We can no longer look at trade just as trade. We have to look at it in totality of global and regional conditions.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Finance Minister P Chidambaram said on Tuesday the government has received a proposal from the Prime Minister's Council on Trade & Industry for setting up a $5 billion sovereign wealth fund. The council consists of industry captains. "The council has suggested that there is a need to create a sovereign fund of $5 billon to begin with for financing acquisition of companies abroad," Chidambaram told the Rajya Sabha.
Import segments which recorded negative growth include gold, silver, transport equipment, coal, fertiliser, machinery and machine tools. However, exports of oil seeds, coffee, rice, tobacco, spices, pharma, and chemicals reported positive growth in June.
The business council aims to give impetus to trade.
Closely watched by the world for any escalation, the Iran-Israel conflict is already showing early signs of stress for India Inc - longer deliveries, doubling freight rates, extended working capital cycles, and higher costs. For those yet to feel the heat, there is growing apprehension and nervousness over future developments, observed industry executives.
Leterme contended that there is a need for the United Nations Security Council to adapt to the realities of the 21st century as it requires representation that goes beyond the structures established in the 20th century.
The spotlight is back on the hawala trade in diamonds.
Soon after Unlock 1, the industry - which is estimated to polish nine of 10 rough diamonds in the world - resumed operations, but a surge in cases at diamond polishing cluster, especially in Katargam and Varachha, forced units to go into a voluntary lockdown, which continued until recently.
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
The meeting chaired by Prime Minister Manmohan Singh was attended by Commerce and Industry Minister Kamal Nath and Planning Commission Deputy Chairman Montek Singh Ahluwalia. Industry leaders, including Ratan Tata, Rahul Bajaj, Mukesh Ambani and Sunil Bharti Mittal, who are members of the council, also participated in the discussions.
'There are 725,000 Indians here without proper papers. They are subject to deportation immediately under this (Trump's immigration plan). Immediately!' 'They want to prevent new immigration, get the people who are already here out of here, and only allow population increases in the white population.'
Industry asked the government to be 'brave and bold' and said that it will rise to the occasion.
Apparel exports to Japan are expected to grow by 20-25 per cent year on year from the current $220 million on account of rising opportunities for domestic exports, AEPC said on Saturday. Apparel Export Promotion Council (AEPC) said that rising opportunities due to changing geopolitical landscape, government supports like production linked incentive, mega park scheme, improving the quality standard, getting sustainable and utilising benefits of free trade agreements with major markets are the key growth drivers. To promote exports to Japan, the council is organising a two-day show in Gurugram.
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions. The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
FMCG major Britannia Industries' results for the January-March quarter (Q4) of the financial year 2023-24 (FY24) were received enthusiastically by the market with the share going up by 6.7 per cent on Monday to close at Rs 5,061.60 on the BSE. However, analysts said the results were in line with margins, and disappointing in terms of revenue growth. The consolidated net sales (excluding other operating income) rose 3 per cent year-on-year (Y-o-Y) to Rs 4,010 crore in Q4.
Amid rupee's free fall and slowdown in western markets, the government is likely to announce incentives in the foreign trade policy (FTP), scheduled for June 5, to boost exports.
