The Israeli government on Sunday approved the appointment of Reuven Azar as the new Ambassador to India.
The Cabinet can take a decision on the matter only after the Election Commission's approval.
Taiwan's Ministry of National Defense said 30 Chinese warplanes made incursions into its air defense identification zone, or ADIZ, the highest daily figure in more than four months.
Indians have topped the number of illegal immigrants from Asian countries caught at land, sea, and air checkpoints of the US since 2022.
The fund will promote domestic shipbuilding of all types and sizes to reduce India's dependence on foreign ships.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
India and China on Monday decided to resume the Kailash Mansarovar Yatra as the two sides agreed to take certain people-centric steps to 'stabilise and rebuild' ties.
United States President Donald Trump for the fourth time in recent days claimed that the Biden administration allocated $21 million funding to India for 'voter turnout', evoking a sharp response from the Congress which urged Prime Minister Narendra Modi to 'talk to his friend' and strongly refute the allegation.
Many argue there's a mismatch between Prime Minister Narendra Modi's focus on international exposure and his government's diktat to officials on limiting travel.
The ban has been in force since last Friday.
He is at present secretary (economic relations) in the Ministry of External Affairs.
Former Maharashtra minister and Shiv Sena-Uddhav Balasaheb Thackeray leader Aaditya Thackeray on Monday claimed nearly '50 people', including 'some middlemen' and personal assistants, will be part of the delegation that will travel with Chief Minister Eknath Shinde for the World Economic Forum (WEF) gathering in Davos, Switzerland.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
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).
Former Indian Prime Minister Manmohan Singh passed away at the age of 92 on Thursday. He will be given a state funeral with full state honors at Nigambodh Ghat on Saturday. Singh served as Prime Minister from 2004 to 2014 and was known for his role in India's economic reforms. Leaders from across the political spectrum paid their respects to the departed leader, highlighting his contributions to the nation.
Prime Minister Narendra Modi and French President Emmanuel Macron have called for enhancing trade and investment ties between their countries and committed to further deepening their engagement in the Indo-Pacific. They discussed a full spectrum of bilateral relations, including key global and regional issues, and stressed the urgent need for reform in the United Nations Security Council. The leaders also underscored their commitment to ensuring the global AI sector can drive positive social, economic, and environmental outcomes.
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.
A committee of secretaries will be meeting soon to consider a draft proposal, which suggests that decision-making on all policy issues pertaining to FDI be transferred from the Department of Industrial Policy & Promotion (DIPP) in the Ministry of Commerce to the Department of Economic Affairs (DEA) in the Ministry of Finance.
President Trump made these remarks on Monday while talking to reporters aboard Air Force One on his way back to Joint Base Andrews from Florida.
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.
Market watchers believe that the change in guidelines fly in the face of some of the recent initiatives taken by the government, such as easing norms for foreign portfolio investors.
The $100-million fund, which has the option to raise a further $200 million, will benefit small and medium enterprises engaged in defence production.
Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC's roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. "Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
Citizens of many countries including Iran, Sudan and Cuba, who come in large numbers to India are facing severe problems as they do not have international credit cards
The counsel for the Centre said the proposal has been sent to the economic affairs department for further approvals, which would also be processed and the petitioner can apply for requisite visa permits.
Much on the expected lines, Beijing reacted angrily to Hands' visit, saying that it violates the one-China principle to which London is a signatory.
The main responsibility for producing the Budget rests with the Budget Division of the Department of Economic Affairs in the finance ministry
Volatility in investments concern for RBI.
The external affairs ministry's files, as distinct from those of the ministry of defence or the agencies, at least from before 1974 should be declassified. And if select files that are more than 40 years old are not to be declassified, the ministry should follow explicit guidelines to justify taking such a view, says Jaimini Bhagwat.
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.
DEA objects to the company's 29 Indian stores having sub-brands as a rule violation; DIPP doesn't agree.
The Union home ministry has cancelled the Foreign Contribution Regulation Act (FCRA) registration of the Centre for Policy Research (CPR) for alleged violation of laws, a move the public think-tank termed "incomprehensible and disproportionate" and vowed to seek legal recourse against.
The central government has given banks and credit card entities six to eight months to put in place the requisite reporting mechanism and related features to collect tax at source on international credit card transactions, a senior bureaucrat told Business Standard. According to the bureaucrat, the plan to bring overseas credit cards under the Liberalised Remittance Scheme (LRS) has not been mothballed and is simply being deferred so that banks get adequate time to get the system up and running. The official expects the reporting mechanism to be ready in the given time, and the rule could be implemented in the next financial year (2024-25, or FY25).
Banks have raised concerns over the new international trade settlement in rupee, fearing that facilitation of such a mechanism could result in them facing the ire of economic sanctions by the West, people aware of the matter said. Large banks with overseas operations have sought clarity and assurance from the Reserve Bank of India (RBI) that they will not be targeted with sanctions for facilitating rupee trade with a sanction-hit country such as Russia. The present payment mechanism is a shift from earlier such arrangements, like the one with sanction-hit Iran, which involved banks facilitating settlement of international trade that did not have business in the sanctioned nation.
The case is related to the alleged irregularities in granting clearance by the Foreign Investment Promotion Board to INX Media, once owned by Peter and Indrani Mukherjea, for receiving overseas funds to the tune of Rs 305 crore.
The government on Tuesday introduced in Parliament three redrafted bills to replace the existing criminal laws by including various recommendations made by a parliamentary panel.
The department of economic affairs, in its Monthly Economic Review for September, said critical reforms undertaken by the government will put India to a strong and sustainable growth path in the long run.
The rupee has lost over 2.5 per cent in the two trading days of this week and nearly 10 per cent in the past six weeks on concerns of scaling down of stimulus packages by the US.
