The CBDT asks ministry of corporate affairs not to oppose its application to restore the companies struck off by the Registrar of Companies, as it would prevent the board from launching tax recovery proceedings against them.
Ecommerce firms will have it tough as govt turns down FDI proposal.
The $100-million fund, which has the option to raise a further $200 million, will benefit small and medium enterprises engaged in defence production.
If cleared, the ONGC arm will become the first subsidiary company of an existing Maharatna to get into this superior league among government-owned entities.
Three foreign single-brand majors apply in the past one month.
The Industry Ministry is in favour of allowing foreign airlines to invest in domestic carriers, saying it would help the cash-crunch industry to raise equity, an issue that does not find support among many Indian airlines.
The Reserve Bank of India has also expressed concern over rising inflation and said the prevailing level is above its comfort zone.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
The proposed policy is increasingly becoming an item of negotiation, as the US pushes hard to change India's stance.
According to CAIT, e-commerce policy should take within its ambit not only foreign players but also domestic ones.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
In power, Mamata Banerjee has tried to bury the ghost of the past, but it might still be work-in-progress. Big-ticket and eye-grabbing (in terms of investment size) projects are still few and far between, reports Ishita Ayan Dutt.
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 department of industrial policy and promotion, nodal agency for FDI policy under the ministry of commerce and industry, seems to have prepared a note for the Cabinet Committee of Economic Affairs to consider.
Access to India's defence market must be made conditional -- available only to those who are ready to make a long-term commitment in India, argues Ajai Shukla.
'As the demand for transferable skills that can be remotely applied increases, the need for tech-based courses is on the rise/'
Two entities under the Union ministry of commerce report differing figures for import of cut and polished diamonds for the first eight months of the financial year.
DEA objects to the company's 29 Indian stores having sub-brands as a rule violation; DIPP doesn't agree.
The industry department had planned to get 10,000 price quotations from producers in order to have a new-look WPI, which incorporates a better snapshot of the economy. Out of this, 8,000 products are manufactured items. However, it now emerges that the DIPP may get price quotations from only 6,400 industrial units and factories.
The Union Cabinet on Wednesday approved revision in guidelines for providing direct to home (DTH) services in the country under which licenses would be issued for 20 years, Union minister Prakash Javadekar said. The Union Cabinet has also approved 100 per cent FDI in the DTH broadcasting services sector, Javadekar said, adding that while the commerce ministry had spoken of 100 per cent FDI in the DTH sector, the guidelines of the information and broadcasting ministry needed to be changed.
The draft proposal of the five-year plan focuses on a multi-pronged strategy to achieve e-development: creation of e-infrastructure to facilitate and promote e-governance, promotion of electronics and information technology industry, promotion of e-inclusion, providing support for creating innovation, building knowledge networks and securing India's cyber space.
Exports of 13 APIs - including paracetamol, tinidazole, metronidazole, vitamin B1, vitamin B6, vitamin B12, acyclovir, progesterone - along with formulations made from these APIs, would be restricted.
Overall, cumulative direct investment from China stood at just $2.05 billion till June 2018, according to consolidated DIPP figures
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
It plans an investment Rs 20 crore.
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
This is the largest investment in the single-brand retailing ever since the government has allowed foreign direct investment.
The Securities and Exchange Board of India (Sebi) on Friday banned Mumbai-based high net worth individual Sanjay Dangi and promoters related to him from dealing in equity markets. Promoters and promoter entities of Murli Industries Ltd, Ackruti City Ltd, Welspun Corp Ltd, and Brushman India Ltd have been barred from trading in their own and group companies' shares.
In April last year, tax authorities had questioned Deepak Kochhar over a Rs 405-crore investment by Accion Diversified Strategies Fund through its Mauritius subsidiary, DH Renewables Holding
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
The Department of Industrial Policy and Promotion (DIPP), the nodal department that handles intellectual property rights (IPR) related matters under the commerce ministry, is launching an ambitious Rs 300-crore (Rs 3 billion) project to sensitise all stakeholders, including law enforcement agencies, scientists, companies, ministries and the general public on IPR issues.
Sectors that attracted maximum FDI include services, trading, automobile and power.
To resolve the so-called 'angel tax' issue, the start-ups and their investors who file requisite declarations and provide information in their returns will not be subjected to any kind of scrutiny in respect of valuations of share premiums, she said.
FDI into the country increased by 30 per cent to $21.62 billion during April-September this fiscal.
The Department of Industrial Policy and Promotion in the Commerce Ministry proposes to scale back the Foreign Direct Investment ceiling for the tobacco industry from 100 to 74 per cent and insert a caveat that cigarettes manufactured in the new ventures or in upgraded facilities must be mainly for consumption outside India.Sources said the department, which is responsible for the policy on FDI, is finalising a cabinet note aimed at comprehensive review of the tobacco policy.
The Centre on Tuesday said it will not seek disclosure of flash sales from e-commerce players to regulate the fraudulent sale of goods and services but will take appropriate action as per the law on consumer complaints. Discount sales that benefit maximum to consumers will continue, but not fraudulent flash sales on the e-commerce platforms, the government said, adding that the e-tailers need not be "anxious" about the draft rules. Ban on fraudulent flash sales, mis-selling and appointment of chief compliance officer/grievance redressal officer -- are among key amendments proposed to the Consumer Protection (e-commerce) Rules, 2020, on which the government has sought public comments by July 6.
After the Kerala government declared the coronavirus outbreak as a 'state calamity', as the three positive cases were detected from Thrissur, Alapuzha and Kasaragod, tourism minister Kadakampally Surendran admitted that the sector had suffered a hit. The sector had aggressively launched promotional advertisements in the domestic and international markets after the floods to revive the sector. However, all the efforts took a beating, with mass cancellations of hotel bookings after the outbreak of the infection in the state was reported.
Tech giant allowed to set up fully owned shops, with 30% local sourcing like everyone else.
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