Emphasising that India has the potential to become a global hub for education and tourism, Union home secretary Rajiv Gauba called for a change in the mindset at the field level to make foreigners feel welcome.
Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation, sources said.
Capital markets regulator Sebi has extended the suspension of futures and options trading in seven agricultural commodities, including wheat and moong, for one more year till December 2023 in a bid to rein in prices. The other agricultural commodities suspended by Sebi are -- paddy (non-basmati), chana, crude palm oil, mustard seeds and their derivatives and soya bean and its derivatives. "The suspension of trading in the above contracts has been extended for one more year beyond December 20, 2022, i.e. till December 20, 2023," Sebi said in a statement on Wednesday.
The US replaced Mauritius as the second largest source of foreign direct investment into India during 2020-21 with inflows of $13.82 billion, according to government data. Singapore remained the top source of foreign direct investment (FDI) into the country for the third consecutive fiscal at $17.41 billion. During the last financial year, India attracted $5.64 billion in FDI from Mauritius, according to the data by the Department for Promotion of Industry and Internal Trade (DPIIT).
Believes companies would come to India eventually.
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
200 staffers, consisting of RBI officials and support teams, who are essential to perform critical functions, were isolated at a separate facility in a dedicated quarantined environment near all three RBI data centres.
If India is to urbanise successfully, it has to focus on Tier 2 cities with a population of one-five million, observes T N Ninan.
The budget is "farmer friendly, common citizen friendly, business environment friendly" and will add to 'ease of living' and 'ease of doing business', Modi added.
Payments can be made till April 21; for motor the relaxation is only for third-party insurance.
Drug shortages in the US are at an all-time high, and price erosion has stabilised, which could benefit Indian pharmaceutical (pharma) companies with a US focus, according to analysts. Nuvama Research analysts said that US price erosion seems to have normalised to its old levels of 6-8 per cent and volumes are picking up with easing of inventory. Similarly, an ICICIdirect analyst noted: "Price erosion intensity has now moderated to a single digit and is expected to tone down a
The Centre plans to repeal the existing 80-year old Coffee Act and has proposed a new "Coffee (Promotion and Development Bill), 2022" to promote development of the Indian coffee industry. Through a new law, the government aims to modernise the functioning of the Coffee Board of India that is responsible for boosting production and the quality of Indian coffee, push exports and support the development of the domestic market. The Bill is likely to be introduced in the ongoing session of the Parliament.
About 60 per cent of Indian private insurers believe there has been a significant rise in insurance-related frauds, and as risks lurk there is an immediate need to consider a proactive fraud risk management framework, a Deloitte survey said on Thursday. Insurance companies in India have experienced a rise in fraud instances in life and health insurance, and increased digitisation, remote working post pandemic and weakened controls are key factors contributing to frauds, according to Deloitte's Insurance Fraud Survey 2023. "About 60 per cent of survey respondents believe that there has been a significant rise in fraud, while further 10 per cent experienced a marginal increase," the survey said.
All FIPB records will now be digitised; old and unnecessary files will be weeded out
'Good investment opportunities should not be missed.'
Some bankers are of the view the move will also help lenders meet their priority sector commitments as a large part of their housing loan portfolios comprise of loans under Rs 25 lakhs.
Indian businesses in the US have created about 91000 jobs in the US.
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Although the survey pointed to the softness in demand leveling off, a complete recovery is still some way off.
Only five of India's top 20 car models have seen a reduction in wait times over the past year.
Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan and Congress MP Shashi Tharoor were also present with the PM as he interacted with the students inside the train.
Armed with necessary macro and micro growth drivers, India is on its way to becoming the fastest growing major economy in the world, a finance ministry report said. Rapid vaccination and teeming festivities will push India's ongoing recovery resulting in narrowing of demand-supply mismatches and greater employment opportunities, as per the monthly Economic Review prepared by the ministry.
State-level reports every quarter for service quality and artificial intelligence-based solutions may be officially mandated as part of a set of more stringent, updated quality-of-service (QoS) norms by the Telecom Regulatory Authority of India (Trai) soon. The new norms will also factor in user experience for 5G networks, officials informed Business Standard. In February, Trai asked telecommunication (telecom) service providers (TSPs) to submit updates on measures taken to reduce call drops and lags and raise the quality of connection.
Modi assured US investors that in the next six months, he would implement all the things necessary for ease of business in the country.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
Around 58 per cent of developers expect housing prices to increase this year because of rise in input costs, while 32 per cent builders feel it will remain stable, according to a survey. According to the 'Real Estate Developers Sentiment Survey', by Realtors apex body CREDAI, real estate consultant Colliers India and property research firm Liases Foras, 43 per cent of developers expect residential demand to remain stable in 2023, while 31 per cent feel the demand would increase up to 25 per cent. As many as 341 real estate developers from various parts of the country participated in the joint survey conducted during the last two months.
Switzerland has been facing international pressure as countries step up efforts to curb illicit fund flows.
The Securities and Exchange Board of India (Sebi) is in the process of issuing a standard operating procedure (SOP) for designated depository participants (DDPs) regarding disclosures and onboarding of foreign portfolio investors (FPIs), according to a regulatory document seen by Business Standard. DDPs act as a link between the markets regulator and overseas investors. The SOP, framed in consultation with the industry, aims to bring consistency across all players and avoid any form of regulatory arbitrage.
India's manufacturing sector activities moderated in December but output remained in the growth territory, amid slower rise in sales and new orders, even as business sentiment was dampened by concerns surrounding supply-chain disruptions, COVID-19 and inflationary pressures, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) eased to 55.5 in December, from November's ten-month high of 57.6. The December data pointed to a "substantial, albeit slower, rises in sales and output", the survey said, adding that the latest quarterly reading was at 56.3, its highest since the final quarter of fiscal year 2020/21.
He observed that the 21st century India belongs to wealth and job creators and innovators, who are the country's true strength.
'India has always been a bottom-up stock-picking market, and as growth recovers with higher liquidity, mid and small-caps always tend to outperform.'
Manufacturing activities in India touched a three-month high in March boosted by faster expansions in new orders and output amid demand resilience and easing of cost pressures, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 55.3 in February to 56.4 in March, signalling the strongest improvement in operating conditions in 2023 so far. The March PMI data pointed to an improvement in overall operating conditions for the 21st straight month.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
The series is held together by a superbly astute performance by Gagan Dev Riar, who moves from cheerful conman to menacing criminal with remarkable skill, observes Deepa Gahlot.
The results of the assembly elections in Gujarat and Himachal Pradesh are likely to play out during the winter session of Parliament beginning Wednesday.
Mhambrey said while the bowlers will get some rest in days leading up to the WTC final, the group is determined to extract the maximum benefits from the training sessions.
India joins a select list of countries that have made entry for animals less bureaucratic, thereby helping families, including people like Rishabh, escape the warzone with their beloved companion animals.
'They know the people of Karnataka will not accept it.'
The re-opening of the Chinese economy, as it moves away from its zero-Covid policy, could help stabilise commodity prices, according to some of the country's top metal companies. They view this as a positive for demand, at a time when markets such as the US and Europe have been largely weighed down by slowdown concern now. "Most of us in the metals business are hoping the Chinese economy picks up because half of any metal demand, including demand for aluminium, comes from China.
Foreign direct investment (FDI) in India grew 40 per cent to USD 51.47 billion during April-December 2020-21, according to government data released on Thursday.
The two sides are also expected to explore ways to deepen defence collaboration, including exercises, defence transfers and technologies ahead of the next edition of the 2+2 defence and foreign ministerial dialogue to be held in the US later this year, they said.
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