Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
India's streets are bustling with small vendors who make brisk business.
India attracted $2.14 billion FDI in the services in the first four months of the current fiscal, the highest among all sectors.
Presenting the Narendra Modi government's maiden Rail Budget, Railway Minister Sadananda Gowda announced setting up of logistic parks and private freight terminals on PPP model.
The Centre is in talks with Mauritius with regard to the long-pending revision of the bilateral tax treaty.
The government has imposed a service tax of 10.3 per cent on the gross value of tickets of all classes on the domestic flights and economy class on international routes.
Full liberalisation of the defence industry is necessary for both combat-readiness and security of long-term supplies, says Nitin Pai.
'In a special gesture, UAE President and Ruler of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan, accompanied by senior members of the Royal Family, was at Abu Dhabi airport for the interaction with PM'
India has been placed among the top 10 most attractive destinations for foreign direct investment, ahead of Britain and Brazil, at the sixth position in the AT Kearney FDI Confidence Index 2003.
Sources say the US retail giant's chief reluctant to meet again after Nov 1 meeting was cancelled
The new online store, which will be launched on September 23, will provide customers with the same premium experience found in Apple Store locations around the world, delivered by online team members who are ready to offer their expertise, Apple said in a statement.
Embargo on imports from a neighbouring country would send a chilling signal to foreign investors who look for transparency and companies with manufacturing units in India had requested the government to publish any change in port policy "to provide the business community with the visibility they need to function", says United States-India Strategic Partnership Forum.
Investor confidence, in general, in the world is weak and that has spilled over in India.
USIBC President slams India for suspending its decision to open the multi-brand retail sector to foreign direct investment.
'The government is using the Intelligence Bureau to go after NGOs.' 'It is not only the NDA, the UPA also didn't like NGOs.' 'NGOs predominantly work with the poor. So, when you cancel an NGO, the affected are the poor, the Dalits, the tribals, the street children and the marginalised.'
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
Last November, a lawyer for Future Retail Limited (FRL) told Delhi high court that Amazon is interfering with its lawful business and thousands may lose their jobs and FRL may go bankrupt. Senior advocate Harish Salve, who appeared for FRL, likened Amazon to East India Company. Senior advocate Gopal Subramanium, who represented Amazon, told the Future counsel to keep the "East India Company" rhetoric aside, as Amazon has invested $6.5 billion all over India and created 900,000 jobs. This drama played out in the case in which Amazon has challenged Future's $3.4-billion deal with Reliance, alleging the retailer's deal breached an agreement with the American e-commerce firm.
India's economic reforms and its efforts to attract foreign investment put it in the "limelight", but it must do more to attract foreign investors, John Peters, the minister counsellor for commercial affairs, embassy of the United States of America,
India on Monday said it could consider imposing "some kind of safeguard duties' on Chinese imports to bridge the huge trade gap as it cannot be sustained in the long run.
Other measures being considered include relatively stringent KYC norms and a separate standard operating procedure for approval, renewal, and fresh investment from India's neighbouring countries.
Facebook co-founder and CEO Mark Zuckerberg on Tuesday said India is a very special and important country with a remarkable entrepreneurship culture, as he sought to push deeper the just-launched payments services that allow users to make payments over WhatsApp. Last month, Facebook-owned WhatsApp received approval from the National Payments Corporation of India (NPCI) for rolling out its payments services in India. In 2018, WhatsApp started testing its UPI-based payments services in India -- a global first -- with about a million users.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
The defence ministry took the decision to hold the biennial event as scheduled following inputs from major stakeholders including the domestic defence industry and global aerospace majors, official sources said.
The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
Foreign direct investment into India has surged to over $25 billion in 2007-08 and the country's foreign exchange reserve crossed $341 billion as of Tuesday, Ashwani Kumar, minister of state for commerce and industry has said.
Overseas investors have pulled out a net Rs 1,14,855.97 crore from the Indian markets in the current year so far, amid heightened geopolitical tensions and inflation concerns. Foreign portfolio investors have sold domestic equities worth Rs 48,261.65 crore so far this month, taking the year-to-date tally this year to a massive Rs 114,855.97 crore, according to depositories data. The exodus of foreign investors was largely owing to inflationary pressures and deepening global macroeconomic conditions following the Russia-Ukraine war, experts said.
India's economy is moving towards a higher growth trajectory and is likely to grow at around 10 per cent in 2021-22, Economic Advisory Council to the Prime Minister (EAC-PM) chairman Bibek Debroy said on Wednesday. "I am confident that we are on a path towards a higher growth trajectory, higher poverty reduction, higher employment, and a prosperous, more developed and better governed India. "I think it is, more or less, agreed that the real rate of growth this year (FY2022) is going to be around 10 per cent," Debroy said at an SBI event. At the beginning of FY2021-22, the forecasts for real growth were in the 8.5-12.5 per cent range, he noted.
India will soon make available many more COVID-19 vaccines to other countries after two Made-In-India jabs have already been introduced to the world, Prime Minister Narendra Modi said on Thursday while emphasising the country's global responsibility in fighting the pandemic.
India may lose out on foreign investment in the pharma sector as protection of test data was the key to company decisions on location of clinical trials.
The latest cash-and-carry or wholesale outlet, for selling products from grocery to apparel and consumer electronics to businesses, offices and organisations, is coming up in Agra by the middle of 2015, it is learnt.
To put its Reebok business in order, the German footwear major hand-picked the soft-spoken Erick Haskell, who has vast experience of working in China.
Amazon India is waiting for clarifications from the government on several aspects of the latest FDI guidelines to be able to carry on with business in the country. Sources said, no new investment is likely till at least the second half of 2019.
Future Retail's (FRL's) independent directors have written a second letter to the Competition Commission of India (CCI), stating American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and the representations made by the US e-commerce player were completely opposite and contradictory to their own internal correspondences as submitted before courts. The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations. By actively misleading the CCI and the regulator, it has to revoke the approval granted for Amazon's investment in FCPL.
The government is working to expedite clearances to $12 billion project of steel major Posco in Odisha that was awarded environment clearance last week, Commerce and Indutry Minister Anand Sharma said on Tuesday.
The Centre for Strategic and International Studies recommended the United States to undertake a comprehensive policy review to determine how to assist India with developing its defense industrial base through co-production and co-development projects.
American businesses are lobbying with political parties here to build a consensus on stalled economic reforms such as liberalisation of foreign direct investment (FDI) in sectors like multi-brand retail, aviation and insurance, and for expeditious introduction of a Goods and Services Tax (GST).
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