Some companies are already seeking review of the new norms.
Private labels remain big business for e-commerce marketplaces. They comprise almost 15 per cent of the total business of such firms.
He also pointed out the high sums earned by the coaching centres leading to the commercialisation of education.
India's trade deficit with Russia continued to widen for the second consecutive year to $57 billion in the financial year 2023-24 (FY24), with Moscow becoming New Delhi's largest source of crude oil imports. All eyes will now be on Prime Minister Narendra Modi's visit to Russia during July 8-9, where he is set to meet President Vladimir Putin. This will be Modi's first visit to the Kremlin since the Russia-Ukraine conflict began over two years ago.
The department of personnel and training has asked the Union Public Service Commission to recruit such specialists through "lateral entry" mode in 12 government departments/ministries, he said.
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Government seeks stakeholders' comments by Jan 30 on discussion paper.
The Income Tax department has trained its scanner on the burgeoning 'e-commerce' business in the country.
Among other things, taking note of complaints against several Chinese e-commerce players such as Shein, Ali Express etc for sending shipments as 'gifts' to customers in India and avoiding duties, the government has now mandated that all e-commerce sites and apps must have a registered business entity. This will be the importer on record and subject to customs rules, report Subhayan Chakraborty, Neha Alawadhi and Karan Choudhury.
The IAS officer was later taken into custody under the provisions of the Prevention of Money Laundering Act and is expected to be produced before a magistrate seeking his remand, the sources said.
The expansion was the first by Sarma since he assumed chief ministership of the state about 13 months ago.
In order to counter the growing penetration of e-commerce portals, the ICT industry in Gujarat is also mulling initiation of its own portal for selling products.
The Cabinet can take a decision on the matter only after the Election Commission's approval.
Exports declined for the fourth-consecutive month by 10.3 per cent year-on-year to $34.98 billion in May, while the trade deficit widened to a five-month high of $22.12 billion. According to the data released by the commerce ministry on Thursday, key export sectors recording negative growth include petroleum products, gems and jewellery, engineering goods, ready-made garments of all textiles and chemicals. Imports also declined 6.6 per cent, six-month in a row, to $57.1 billion against $61.13 billion in the same month last year, the data showed.
Floats discussion paper for stakeholders' feedback with a deadline of January 28.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce has called a meeting on July 10 to discuss the foreign direct investment (FDI) policy in the cigarette industry.
'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.'
Riding on e-commerce wave is the youngest state, which faces competition from neighbours.
A senior official of India Post at Kolkata General Post Office told PTI that since e-commerce is a sunrise industry, it is trying to earn higher revenue in the region by involving local traders and business houses.
The total incentive outgo under the ambitious production-linked incentive (PLI) scheme is estimated to be less than Rs. 40,000 crore by the fiscal year 2024-25 (FY25), when it completes the fourth year of implementation, according to the government's internal estimates. This means only a fourth of the allocated Rs 1.97 trillion is expected to be utilised by the end of FY24, indicating that not all the 14 PLI schemes would have taken off fully. While three of the 14 schemes - large-scale electronics manufacturing, bulk drugs, and medical devices - were introduced in 2020, the remaining were launched the following year.
The West Bengal government may consider asking companies to directly purchase land for all industrial projects, including the Salim group's proposed SEZ.
Rio also appointed 24 MLAs as 'advisors' to various departments in his opposition less government.
Saha has kept the home, health and family welfare and public works department with him while Ratan Lal Nath has been given the charge of power, agriculture and farmers' welfare, according to an official notification issued by Chief Secretary J K Sinha.
"Not a single step has been taken by this government to empower small businesses in India," says Praveen Khandelwal, national secretary general of the Confederation of All India Traders and former treasurer of the Bharatiya Janata Party's Delhi unit.
The farm sector's contribution to Indian economy is just around 20 per cent and rural India is in a shambles.
Jack Ma is learnt to have discussed about e-commerce, mobile telephony
CBI has also summoned a senior official of Reliance Industries Limited and a noted chartered accountant.
'Due to rural stress, volumes continue to remain an issue for the industry, and we are yet to see any revival in demand.'
Taiwan-based Hon Hai Technology Group, the subsidiary of Foxconn Industrial Internet (Fii), is in talks with the Tamil Nadu government to invest around $200 million to set up an electronic components unit in the state. According to a Reuters report, FII, which makes communication, mobile network and cloud computing equipment, has shared the plan with the Tamil Nadu state officials. Business Standard had reported last week that Fii's chief executive officer (CEO) Brand Cheng met Tamil Nadu Chief Minister M K Stalin and Minister for Industries, Investment Promotion and Commerce TRB Rajaa.
India's import of personal computers, including laptops and tablets, shot up in September by 42 per cent to $715 million, reversing a year-long downward trend after the government announced it would impose import restrictions on such electronic hardware items in August. The rise in such imports were led by the largest source China (33 per cent) and Singapore (188 per cent), according to data released by the commerce department. On August 3, the Centre had announced it was planning to bring seven products in the information technology hardware segment, such as personal computers, micro computers, mainframe computers, super computers, computer systems and data processing units under the 'restricted' label.
Exports had risen over 11 per cent in July, year-on-year.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
Flipkart and Snapdeal take a cue from Amazon even as they differ on who is ahead in the race
In a meeting with the commerce minister, India Inc hammered Sharma on the collapse of investments, structural nature of the current account deficit and stagnant growth in agriculture.
Taking up the case of Indian IT companies and professionals, Jaitley told Ross about the contribution of highly-skilled Indians in the economic development of the United States and India and stressed that they should continue to do so, which is in the best interest of the two countries, officials said.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to $2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed, said Director General of Foreign Trade (DGFT) Santosh Sarangi while briefing media about FTP 2023. Earlier, Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1, 2023.
The drug maker will lose some incentives if its membership is suspended, sources in Pharmexcil said.
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