The e-commerce marketplace is like an information intermediary these days.
Sustained dollar unwinding from exporters and banks amid weak overseas trend gave a boost to the rupee
'Our policy is pro-Sri Lanka.' 'Burma is not the only girl on the beach in South Asia.''
In its new avatar as the Department for Promotion of Industry and Internal Trade (DPIIT), it will directly be responsible for 'the welfare of traders and their employees'.
The race for space has got real, and it is attracting funding like never before. In 2022 so far, funding to private players in the space sector has jumped a whopping 61.5 per cent - soaring to $108.52 million compared to $67.2 million in 2021. Propelling it is the government's decision to open up the space sector to private players and the work done by companies like Skyroot Aerospace, the Hyderabad-based start-up behind the launch of India's first privately developed rocket on November 18.
In a recent interview, Narendra Modi, set to take charge as prime minister in a few days, had said his government wouldn't roll back any policy in the sector.
The government has unleashed a slew of reforms to attract greater investments including higher foreign direct investment in defence and opening up the railways infrastructure sector, relaxed labour laws, launched campaigns like the Make in India for re-invigorating manufacturing, Clean India and Digital India, among others.
Full liberalisation of the defence industry is necessary for both combat-readiness and security of long-term supplies, says Nitin Pai.
The bench of Chief Justice N V Ramana and Justice Pradeep Nandrajog issued notices to the Centre, Foreign Investment Promotion Board and Commerce and Civil Aviation ministries and sought their responses by October 30.
A survey, with over 3,700 respondents across digital platforms, found that transparent taxation has been one of the most significant initiatives of the government followed by the production-linked incentives (PLI) scheme, equalisation levy and new labour codes.
Palo Alto-based electric carmaker Tesla has initiated talks with the government on the modalities of setting up fully-owned retail outlets. The company needs to comply with the foreign direct investment (FDI) guidelines related to single-brand retail, including local sourcing norms, to sell directly in India. At least two other foreign majors - Apple and Ikea - were engaged in talks with the government long before the sourcing norms were eased under the single-brand retail route.
Amid the protests against leading e-commerce firms, Flipkart and Amazon, shipments through the online route in fact witnessed a double-digit growth every quarter.
Midcap stocks continued to remain on buyers' radar with BSE Midcap index up 0.1%.
The ongoing key reforms such as sops for manufacturing, easier labour laws, wooing FDI inflows and privatisation will help improve productivity and support long-term growth at 7.5-8 per cent levels, which if played out well, can help India contribute 15 per cent of global GDP growth by FY2026, says a report. According to a report pencilled by the India economist at UBS Securities, Tanvee Gupta Jain, the country has the lowest manufacturing costs among peers, even though China retains significant ecosystem advantages and despite that India and Vietnam appear most likely to benefit from a shift out of China.
Union Finance Minister Nirmala Sitharaman will on Monday meet chief ministers and state finance ministers to discuss measures to attract private investments to help boost the economy. Finance secretary T V Somanathan said the meeting comes in the backdrop of strong economic recovery post the two COVID waves, and the central government has made a big push in Capex. The focus of this interaction will be on state-level issues, opportunities and challenges, which will enable us to go to a higher trajectory of investment and growth, he said.
Steps will be taken to attract external commercial borrowing and FDI in the education sector, the finance minister said. Stating that govt will soon introduce new education policy, Sitharaman said online degree courses to students from weaker sections.
Have committed themselves to investing Rs 1,85,000 crore since last year.
In yet another step to attract foreign money, the Reserve Bank of India (RBI) has allowed non-resident investors to acquire shares of listed Indian companies through stock exchanges under the foreign direct investment (FDI) scheme.
Revision in the 2005 policy for foreign direct investment in telecom sector is likely to be announced on or before January 2, Lok Sabha was informed on Wednesday.
The net outward foreign direct investment went up from $9.1 billion in 2017-18 to $12.6 billion in 2018-19 and moved further north to $13 billion in 2019-20.
It is the rupee's biggest single-day gain this year.
"Farmers would like to remind the PM that it is 'andolans' that have liberated India from colonial rulers and that is why we are proud to be 'Andolan-jivi'."
The report expects the inflation framework, fiscal consolidation, infrastructure spending, FDI focus and strong external affairs policies to continue.
'There is a certain irony embedded in this asymmetric geographical distribution of FDI because most state leaders have shed their inhibitions about promoting 'business' and have understood its virtues as a more cost-effective way of replacing the mai-baap welfarism that passed for economic policy till the early nineties', says Kanika Datta.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
In its report tabled in Parliament, the national auditor said the Dassault Aviation and the MBDA proposed in September 2015 to discharge 30 per cent of their offset obligations by offering high technology to the Defence Research and Development Organisation (DRDO), but the two firms are yet to do it.
While the FIPB has sought more transparency on whether the rules concerning effective control would be followed once the deal fructifies, the Finance Ministry has also written to Sebi for a report on the Jet-Etihad deal, official sources said Wednesday.
'Investors are now getting clarity on policies.'
Auchan and another French retailer, Carrefour, exited India in 2014
The commerce ministry has sought a review of foreign direct investment policy in the pharmaceutical sector, in the light of recent takeovers of domestic companies by multinationals.
Highlights of Economic Survey 2020-21, tabled in Parliament by Finance Minister Nirmala Sitharaman on Friday.
Clause on 30% sourcing from Indian SMEs a particular concern.
This prompted some reshoring -- the process of returning jobs and manufacturing to the company's home country -- of manufacturing activity, Shen said while insisting this will not become a general trend, state-run China Daily reported.
The Department of Industrial Policy and Promotion under the commerce ministry has floated a draft Cabinet note for inter-ministerial discussions on foreign direct investment in aviation.
The retailer has registered a new company called 'Wal-Mart India Private Ltd' in the country, according to the data available with the Ministry of Corporate Affairs.
'In May 2020-2021, nearly 10 crores (100 million) lost jobs. 'Covid is not the reason for the present crisis. It aggravated the crisis.'
According to experts, the banning of the apps has created negative sentiments and reduced the confidence among the Chinese investors to invest in India.
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