After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
According to the order, all factories producing essential goods and services will remain operational at full capacity.
The move by the government to make local language support a must in mobile phones is aimed at making users communicate in local languages and access government services
Chinese mobile brands are deeply entrenched in the Indian market. A move to bar them may send a bold diplomatic message. But its cost for the local industry is anybody's guess. In the event that Chinese brands face curbs, two handset makers - Samsung and Apple - squarely stand to gain.
Strict lockdown-like restrictions are already in place in the southern stateand the Pinarayi Vijayan government decided to clamp the complete shutdown in the wake of severe spike in the positive cases.
Apple Inc is commencing assembly of its iPhone 12 model in the country, a move that is expected to help the US tech giant further consolidate its position in the burgeoning smartphone market in India. Apple has partnered with third-party manufacturers like Foxconn and Wistron to make some of its phones in India. These include iPhone SE, iPhone 10R and iPhone 11.
The Sri Lankan government has asserted that the recently signed maritime security pacts with India will "neither result in hindrance nor threat" to the island nation's security as "misinterpreted" by several media outlets in this country.
RJio's LYF, Videocon and other smartphone makers to also get notices
5G networks in India can be deployed in three months but in limited areas as the optical fibre based infrastructure to support the technology is not ready yet, telecom industry players said on Tuesday. Nokia India head of marketing and corporate affairs Amit Marwah said that India has to take a call on deployment of 5G services otherwise it will miss to take advantage of the next generation technology that it can bring for the economy.
Foreign Direct Investment flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.
This is part of the nine memorandums of understanding (MoUs) worth Rs 5,027 crore, including Hero Group-backed Ather Energy's over Rs 600 crore investment, to establish a manufacturing facility for e-vehicles.
The 15 choppers that met with accidents included four Advanced Light Helicopter (ALH), four Cheetah, two ALH (weapon system integrated) versions, three Mi-17V5, an Mi-17 and a Chetak.
Top companies across sectors -- automobile maker Maruti Suzuki, consumer electronics giant Samsung to IT giant Infosys -- have reopened factories and offices as India took its first steps towards resuming economic activity after weeks under a near-total coronavirus lockdown.
Sources said the railways is keen to ensure that a purely domestic entity bags the tender and once it was felt that the Chinese JV was a frontrunner for the project, it was scrapped.
'Nobody is talking about the inequality that is going to come.'
The Comptroller and Auditor General of India on Monday reported multiple irregularities in the accounts of units under the IT and telecom ministries, including purchases of hardware and software worth Rs 890 crore by NICSI in contravention of rules. In its audit report for financial years 2017-18 and 2018-19, the Comptroller and Auditor General (CAG) has flagged anomalies in the decision taken by state-run telecom firm BSNL, C-DoT, the Department of Posts, ITI Limited and CDAC that had adverse financial implications. "NICSI procured hardware and software costing Rs 890.34 crore through the 'Strategic Alliance' route in contravention of General Financial Rules, 2005 and departmental instructions and thus failed to ensure transparency and competitiveness in the procurement process," according to the CAG report tabled in Lok Sabha on Monday.
HAL is also integrating the Advanced Short Range Air-to-Air Missile onto the Mark 1A. Each Tejas will carry two of these missiles.
The royalty payment obligations will be subject to arbitration.
The Carens is a warning for cars such as the Tata Safari, Hyundai Alcazar, Maruti Ertiga, Toyota Innova Crista and Mahindra XUV 700, because Kia punches much harder than others in its weight category.
The government has imposed a penalty on e-commerce major Amazon for not displaying mandatory information, including the country of origin, of products sold on its platform, according to an official order. Last month, the consumer affairs ministry had issued notices to e-commerce majors Flipkart and Amazon for not displaying such information. The ministry has imposed a fine of Rs 25,000 on Bengaluru-based Amazon Seller Services as well as each of its directors as per the provisions of the Legal Metrology Act, 2009 and the Legal Metrology (Package Commodities) Rules, 2011.
A team of more than 60 people under Neeraj Mittal, an IAS officer, was instrumental in getting up the New Industrial Policy 2021 targeting investments of around Rs 10 trillion by 2025.
'Given all the linkages, the monthly registration data for new vehicles, may well be the single most accurate indicator of India's economic health,' points out Devangshu Datta.
The guidelines listed several services including government and private offices that will be out of bounds during the period, while exempting establishments such as hospitals, ration shops, dairies, banks, insurance offices, and print and electronic media. Delivery of all essential goods including food, pharmaceuticals, medical equipment through e-commerce has also been exempted from the purview of the lockdown.
Consumer electronics major LG Electronics on Monday said the company would start manufacturing CDMA handsets in India next year and also plans to scale up production capacity of GSM mobile phones to 10 million from current one million by 2010.
The tax, in lieu of local levies, will be imposed at the first point of a financial transaction.
In 2020 a round of hikes in customs duty on components like compressors, motors and printed circuit boards aggravated the situation, coronavirus crisis is now leaving manufacturers with no option but to hike prices despite fall in sales.
A Dubai trip plus Apple iPhone 12 is cheaper than buying the phone in India. Various models of the iPhone 12 Pro and Max are cheaper in Dubai by up to Rs 35,000 owing to higher GST, Customs duty in India.
'There is no doubt at all that Jio's disruption of the mobile broadband market was a turning point for India's digital economy.'
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
In a country that is often focused on the ways in which it falls short, the start of a year is a good time to remind oneself of such positives, observes T N Ninan.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
A gamechanger for offices and factories, Shycocan, claims to be able to clear an area of 1000 square feet from coronavirus.
'Information highways are getting stronger and being strengthened.' 'Occasionally, accidents could occur. But do you stop constructing highways because two motor cars collide?'
Up to 95 per cent of units in the Noida-Greater Noida mega industrial zone are currently shut.
'India needs offensive and defensive security measures to protect itself.'
Poor governance and mediocre short-sighted politics are destroying the paradise that Goa was as its environment, water table, culture and way of life is drastically threatened by tourism and migration, points out Ramesh Menon.
'Leaders of the Indian community in Hong Kong had broached the idea of developing the Andaman and Nicobar islands for investment and setting up manufacturing units,' points out Rup Narayan Das.
India's cumulative COVID-19 vaccination coverage was recorded at over 28.36 crore since January 16, according to the data from the Co-WIN portal.
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
The Union home ministry has issued strict guidelines for the enforcement of the 21-day complete nationwide lockdown in the wake of the covid-19 pandemic, invoking the National Disaster Management Act which may result in imprisonment of up to two years for any violation. All government offices, the offices of state and Union territory governments, autonomous institutions, public corporations, commercial, private, industrial establishments shall remain closed, the guidelines issued by the ministry said.
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