Civil Aviation Secretary R N Choubey said on Friday there would be no compulsion on airlines.
The strike, however, had no impact on production of auto majors Maruti Suzuki India, Hero MotoCorp, Honda Cars India, Mahindra & Mahindra, Tata Motors and Hyundai Motors India as their plants in various parts of the country functioned normally.
Union Commerce and Industry Minister Anand Sharma takes on Narendra Modi, says: Gujrat cannot be sold as a model state as it has many flaws.
The bill to nullify retrospective taxation offers a fair solution within the framework of Indian law and Parliamentary sovereignty to companies which have been subjected to such demands, Finance Secretary T V Somanathan said on Thursday. Finance Minister Nirmala Sitharaman introduced 'The Taxation Laws (Amendment) Bill, 2021' in the Lok Sabha that seeks to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Bill provides for the withdrawal of tax demand made on "indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012 (i.e. the day the retrospective tax legislation came into being)."
Market participants must appreciate that staying cautious is a virtue for central bankers and should not expect a sudden reversal in the formal monetary policy stance.
US retail major is in talks with Flipkart, Snapdeal, ShopClues and Grofers for partnership.
While RBI is likely to cut repo rate by 25 basis points on Wednesday, the government is also expected to push reform initiatives like increasing FDI limit in insurance sector in the Budget session, it added.
This was in response to the assertion of some officials of the finance ministry and the Department of Industrial Policy & Promotion that a strategically placed comma in DIPP's press note on FDI in civil aviation meant foreign airlines were allowed to hold up to 49 per cent stake in existing Indian carriers, as well as new airline companies being set up.
The aviation minister, Ajit Singh, on Tata-Air Asia joint venture
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Retail giant Tesco's entry into Indian market has hit a regulatory roadblock.
'The trading community will be a priority for Modi when he forms the next government.'
Kingfisher has said it is in talks with foreign carriers for bringing in FDI, a move that is expected help it overcome financial troubles.
Govt to review decision after demand assessment.
China's government has been fine-tuning economic policy settings since the autumn of last year as the outlook for the global economy darkened, export growth sank and capital inflows - a core component of money supply stalled, according to a Reuters report.
SpiceJet has held "preliminary discussions" with a Gulf airline for potential investment in the Indian budget carrier, a news report has said.
India needs to revive corporate sector investment, push critical reforms and remove infrastructural bottlenecks to boost industrial growth in the country, says a government document.
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.
'These firms do not contravene provisions of Chartered Accountants Act, 1949, which bar members of the countries not allowing Indians to practice accountancy in their jurisdiction to become chartered accountants in India,' said the committee, headed by Anurag Agarwal, a joint secretary in the ministry of corporate affairs, and such Indian audit firms cannot be equated with multi-national corporations.
The growth in imports was led by product categories such as diagnostic items, ultra-sonogram machines, MRI and ECG apparatus, syringes with needles, suture needles, digital thermometers, malaria diagnostic kits, and hearing aids.
Currently trading at the 53-level against the US dollar, the rupee has depreciated as much as 25 per cent in the last one year, amid sluggish economic trends.
A day after notifying a policy measure to allow foreign airlines pick up 49 per cent stake in Indian carriers, the government today said the aviation industry was in an upbeat mood as it was expecting a positive response to the move.
Karnataka, Maharashtra, Tamil Nadu, Telangana and Kerala have been ranked as the top five states in innovation in Niti Aayog's second Innovation Index released on Wednesday. The index, released by Niti Aayog's vice chairman Rajiv Kumar and CEO Amitabh Kant, has been developed on the lines of the Global Innovation Index. Jharkhand, Chhattisgarh and Bihar have been ranked at the bottom of the index. Karnataka topped the index for the second year in a row.
The first IKEA store in India is unlikely to come up during the second term of the United Progressive Alliance government, which ends in May 2014, as the euro 25-billion Swedish furniture major takes "years" to set up shop in a new country after securing the necessary approvals.
After turning net buyers for the fifth straight month till June, foreign portfolio investors (FPIs) withdrew a net of Rs 11,743 crore ($1.7 billion) in July. This was their highest outflow since October 2018.
The war of words between Finance Minister P Chidambaram and Arun Jaitley, leader of opposition in the Rajya Sabha, refuses to die.
The Department of Industrial Policy & Promotion and Planning Commission member Arun Maira are sticking to their guns on foreign direct investment in the pharmaceutical sector.
Says licensing of new banks should be a continuous process instead of the current stop-go system
Nike has been present in India since 1996.
The FDI floodgates have opened mega opportunities for not only brick-and-mortar retailers, but for their virtual peers as well.
The retailer has registered a new company called 'Wal-Mart India Private Ltd' in the country.
The Industry Ministry is in favour of allowing foreign airlines to invest in domestic carriers, saying it would help the cash-crunch industry to raise equity, an issue that does not find support among many Indian airlines.
The Indian government and RBI must keep foreign equity investors happy and avoid crushing growth expectations, notes Akash Prakash.
"Reform is not an end in itself. Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India," he said.
In a consultation paper issued on Tuesday, the department of industrial policy and promotion sought comments on whether FDI should be restricted to LLPs operating in sectors without any investment caps, conditionalities or entry route restrictions.
The firm is likely to spend $600 million in total for the new stores. The average size of its stores is about 55,000 sq ft.
We can expect to see more Chinese wolf warrior diplomats on the prowl, in India's neighbourhood, though its mailed fist is not so visible while dealing with India, observes Colonel R Hariharan (retd).
Cabinet nod not required after commerce ministry approval.
The defence ministry has already shortlisted two Indian shipyards and five foreign defence majors for the project, being billed as one of biggest "Make in India" ventures.
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