6 locations in New Delhi and 2 in Mumbai were raided.
Nokia's Chennai plant is under freeze over tax dispute.
Claims of a spike in poverty and inequality in India during the Covid-19 pandemic are patently false as such claims are based on uncomparable different surveys, according to a paper co-authored by eminent economist Arvind Panagariya. The paper also noted that inequality fell in the country during Covid years, both in rural and urban areas as well as nationally. Panagariya, Columbia University Professor and former vice chairman of NITI Aayog and Vishal More of Intelink Advisors, New Delhi have co-authored a detailed paper 'Poverty and Inequality in India: Before and After Covid-19'.
The government has merged the Department of Public Enterprises (DPE) with the finance ministry to give it a better control over state-owned firms and facilitate its ambitious privatisation programme. Finance ministry will now have six departments while DPE's hereto parent ministry, the ministry of heavy industries and public enterprises will now be called the ministry of heavy industries. Previously, the disinvestment ministry - created under the Atal Bihari Vajpayee government - was merged with the finance ministry and is now a department under it. Also, Foreign Investment Promotion Board (FIPB) was abolished and administration of foreign investments was given to the finance ministry (FinMin).
Nokia may be allowed to sell Chennai mobile plant.
Giving major relief to budding entrepreneurs, the government on Thursday allowed startups to avail tax concession only if total investment including funding from angel investors does not exceed Rs 10 crore.
The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years.
The government on Thursday permitted 100 per cent foreign investment under the automatic route in oil and gas PSUs which have received in-principle approval for strategic divestment. The move would facilitate privatisation of India's second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL). The government is privatising BPCL and selling its entire 52.98 per cent stake in the company.
'The procurement cycle still consumes too much time; little has changed.'
To boost the 'Make in India' initiative, the Union home ministry has liberalised the Arms Rules to encourage investment in the manufacturing of arms, ammunition and weapon systems in the country.
In a move that is being seen as a snub to Walmart, Commerce and Industry Minister Anand Sharma on Thursday cancelled a meeting with US retail giant's Asia head Scott Price.
The 4 week online learning programme is available in English and Hindi, and will soon be offered in some regional languages.
To seek tax exemption, a start-up will now have to apply, with all the documents, to the DIPP instead of the inter-ministerial board of certification. The earlier requirement of start-up to submit report from merchant banker specifying the fair market value of shares has also been removed.
India's first home-grown mapping company MapMyIndia is looking to list in the public market by raising around Rs 1,200 crore at a Rs 6,000-crore valuation. Sources said the company is ready with its draft red herring prospectus documents and is likely to file as early as next week. While the money will be used for business expansion, it will also give MapMyIndia's early investors, including Qualcomm, PhonePe, and Japanese mapmaker Zenrin Co., a chance to exit. The Verma family, which founded the company, will continue to remain promoters.
The lock-in requirement has been reduced from three years to one year for angel funds and their minimum investment threshold has been slashed from Rs 50 lakh to Rs 25 lakh.
Nike has been present in India since 1996.
50 per cent of the flashlights market in the country is dominated by Chinese imports, which have been increasing.
A total of 728 applications have been received till July 18, 2016 for Start Up recognition.
The highest FDI came in services ($2.18 billion), followed by automobiles ($1.28 billion), pharmaceuticals ($1.27 billion) and construction development ($1.05 billion) in the 11 months of 2013-14.
The Department of Industrial Policy and Promotion in its draft Cabinet has proposed to further tighten the rules for foreign direct investment in brownfield pharmaceutical sector.
The Indian government has simplified FDI policy inorder to attract global retail chains.
In January 2014, the country had received $2.18 billion FDI.
Some companies are already seeking review of the new norms.
The government is considering to tweak FDI policy in retail sector so as to allow global chains like Walmart, Carrefour and Tesco to open multi-brand stores in non-hilly cities with population less than one million.
On display were PM Modi's pet projects like the 'Make in India' scheme and 'Jan Dhan Yojana'.
Amongst the top 10 sectors, telecom received the maximum FDI of $2.47 billion
The Delhi government will identify single-use plastic littering hotspots and the entry points of such items into water bodies and drains by October 31 this year, according to a draft action plan for the elimination of the environmentally hazardous products.
FDI in the defence sector during 2000-2014 has been a meagre $4.94 billion, despite the total FDI flow into the country across sectors standing at $321.81 billion.
The bilateral trade between India and China stood at $65.85 billion in 2013-14.
Industry is displeased over the failure of the National Manufacturing Policy, which has failed to invite any sizeable investment since it was launched more than two years ago.
The ban has been in force since last Friday.
Floats discussion paper for stakeholders' feedback with a deadline of January 28.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
The maker of the iPhone and the iPad has made a proposal to the government for a wholesale foray.
The government is believed to be working on a strategy to resolve the matter related to Wednesday's Supreme Court order asking Samsung Electronics Chairman Lee Kun-hee to appear within six weeks before the Ghaziabad trial court in a pending payment case.
In 2012, India attracted $22.78 billion of FDI, according to the data by Department of Industrial Policy and Promotion.
During the 10-months of this financial year, the highest FDI came in services ($1.80 billion), followed by pharmaceuticals ($1.26 billion), automobiles ($1 billion) and construction development ($966 million).
FDI inflows into services sector grew by about 47 per cent to $2.64 billion in April-January last fiscal.
The government on Friday modified FDI policy allowing unlisted companies to directly list on stock exchanges abroad to raise funds for acquisitions or retiring overseas debts, a move which may help India in containing high current account deficit.
Overall foreign inflows in the country rose by 27%.
