The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
Work on a dozen decisions to start by next week.
Commerce and Industry Minister Piyush Goyal urged start-ups to focus on three Ps - product, process, people - for building Aatmnirbhar Bharat.
'The Ruble is now down 50 per cent and worth less than one American penny since Putin announced his war'
Both Obama and Modi have taken bold steps towards laying the groundwork to give a big push to Indo-US trade, and now it's time to execute, says Bikash Mohapatra.
Many industry executives have said the draft e-commerce policy is being perceived as nationalistic but not overly protectionist and it is providing preference to Indian players against foreign companies. This might have an impact on investment by large players such as Walmart and Amazon in the country, said the executives. They said e-commerce was a very small portion of the retail industry and at a nascent stage and did not require heavy hammer regulations. Though the policy talks about being equally applicable to foreign and domestic players, it mentions that foreign direct investment (FDI) takes precedence over the e-commerce policy in any area of overlap.
While the new norms are part of the draft policy's guidelines to fight counterfeit and fake products on platforms, they might end up helping brands and e-commerce firms sign exclusive sale deals.
The development of private data sources is a hugely positive development. It should serve as a challenge to the government to improve its own record on producing timely and reliable statistics, points out T N Ninan.
The CBEC will itself be rechristened as the Central Board of Indirect Taxes and Customs and will supervise GST and Customs activities and provide the government policy inputs.
ndia has become the world's second largest market of asbestos as the government backed by powerful corporate lobby turns a blind eye to diseases related to the use of the hazardous chemical.
China and the United States were headed for a major diplomatic confrontation as Washington on Wednesday ordered the closure of the Chinese consulate in Houston, a move it said was aimed 'to protect American intellectual property and private information', hinting at cyber espionage.
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.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
Finance secretary R S Gujral too is believed to have met top Vodafone officials in Mumbai last month.
Twenty-two proposals comprising 16 states and Union Territories and six ministries and departments have been shortlisted for participation in the parade after a series of five meetings.
The US spent $1.5 million a day since 2001 fighting the opium war in Afghanistan. After hundreds of airstrikes failed to curtail the Taliban's $200-million-a-year opium trade, the US military quietly ended the campaign when the Trump administration officials engaged in direct peace talks with the Taliban, notes Atanu Biswas.
Gita Gopinath, the IMF's Indian-American chief economist has been promoted as its First Deputy Managing Director recognising her exceptional intellectual leadership in helping the global economy and the Fund to navigate the "twists and turns" of the "worst economic crisis of our lives". Gopinath would replace Geoffrey Okamoto who plans to leave the International Monetary Fund early next year, Kristalina Georgieva, IMF's managing director announced on Thursday. Gopinath, who was scheduled to return to her academic position at Harvard University in January 2022, has decided to stay, she said. Gopinath, 49, has served as the first female chief economist of the Washington-based global lender for three years.
The sub-group constituted by the Supreme Court to audit Oxygen consumption in hospitals in national capital during the second wave of COVID-19 said that the Delhi government 'exaggerated' the consumption of oxygen and made a claim of 1140 MT, four times higher than the formula for bed capacity requirement of 289 MT.
Equity inflows worth $3.7 billion came from the sunny Caribbean jurisdiction in 2019-20, a 267 per cent increase from the $1 billion registered in 2018-19 making it India's 10th largest source of FDI.
'Don't be fooled. There is nothing more moderate about the revived Taliban government'
White House Press Secretary Kayleigh McEnany told reporters that US President Trump is frustrated with China.
Jugraj made his International debut against France during the FIH Hockey Pro League matches in South Africa
Sensex dull at close, Infosys rules, ITC drags.
Retailers and multiplex operators want mall owners to either forgo rent for the period of the shutdown or lower rent in the event the mall is open but footfalls are low.
ILO acts upon a plea by 10 central trade unions objecting to the ordinances proposed to temporarily scrap labour laws in Uttar Pradesh and Gujarat, along with executive orders issued by at least 10 states to increase the daily working limit to 12 hours from eight hours, along with other labour law changes.
State minister Nawab Malik said the Centre has written to the Maharashtra chief secretary, saying the proposed Metro-3 car shed land in suburban Kanjurmarg belongs to it, as he accused the opposition BJP of conspiring to stall the project through the Union government.
The Biden Administration on Monday said it was now focused on completing its evacuation mission from Afghanistan by August 31, the deadline for removing all American troops from the country.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
The country's top three venture debt firms -- Alteria Capital, Innoven Capital, and Trifecta Capital -- combined deployed about $300 million (Rs 2,200 crore) in start-ups such as BigBasket, Cure.fit, Ninjacart, Dunzo and Lendingkart till April end, according to the government's Investindia website.
Out of the total 22 tableaux, 16 were of various states and UTs and six of ministries, departments and the National Disaster Response Force.
India can be rated as among the best performing economies in the world
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Faced with over Rs 11,200 crore (Rs 112 billion) tax liability, Vodafone India chief Analjit Singh on Thursday met Finance Minister P Chidambaram for the second time this week and expressed the hope that there will be clarity soon on the proposal to settle the dispute through conciliation.
Prime Minister Narendra Modi on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years. Addressing a webinar on PLI scheme, organised by Department of Industry and International Trade (DPIIT) and NITI Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said. He added that there is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.
In 2020-2021, the amount of foreign direct investment into India from China and Hong Kong plummeted to just $200 million -- its lowest in the recent past. In the first half of 2021-2022, FDI investments through these two nations stood at just $36 million.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
In a cabinet that was already being touted as the most diverse in British history, Priti Patel became the first Indian-origin home secretary with Pakistani-origin Sajid Javid moving from the UK Home Office to become the new chancellor.
Some of the world's biggest banks including HSBC, JPMorgan Chase and Standard Chartered moved trillions of dollars identified as being potentially tied to money laundering or other crimes despite raising concerns about those transactions in filings with US regulators, reports South China Morning Post.
Close on the heels of Kenya, which recently set on fire over a hundred ton of its ivory stockpile, experts in India are mulling a similar provision to destroy the "white gold" to send a strong message against poaching.
Indian economist Kalpana Kochhar, who heads the Human Resources Department of the International Monetary Fund, is leaving the organisation to join the Bill and Melinda Gates Foundation, the IMF announced on Wednesday. Kochhar, who served in various senior positions during her three decades at the IMF, will retire on July 30, it said.
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