It was expected that supplies from China will be back to normal by end-June as their factories are now operating at nearly 90 per cent of normal capacity. But the recent issue with shipments has placed an obstacle that manufacturers can't bypass.
Modi invoked the epics of Ramayana and Mahabharata to assert that it is in Indian tradition to avoid war be it in Lanka or Kurukshetra and the country stands for world peace.
Companies are worried that any staggered roll-out of GST could result in cash flow issues with businesses not able claim tax credit due to breakage in the chain
From Covid-19 essentials, such as Vitamin C supplements and thermometers, to bicycles, laptops, and personal weighing scales, demand for certain items galloped during last financial year as the pandemic altered what Indians used on a day-to-day basis. Imports of outdoor sports equipment, handbags for women, and dentures, among others, plummeted. With outdoor activities coming to a halt last year and schools functioning virtually, imports of sports goods witnessed a decline, while inbound shipments of laptops and battery chargers saw a sharp uptick, according to the import data for the financial year 2020-21.
While 100 per cent FDI is allowed in single-brand retail, if the foreign investment exceeds 51 per cent, the 30 per cent mandatory local sourcing norm kicks in.
In the UK, he will attend the Commonwealth Heads of Government Meeting
Politicians and Twitter warriors around the globe have a new buzzword among them: Net zero. Everyone appears to be keen to state their commitment to net zero, with India providing an outlay of Rs 35,000 crore to achieve energy transition and net-zero objectives in its Budget for FY24, even as the latest and final report by the United Nations' Intergovernmental Panel on Climate Change (IPCC) warned that current efforts are not enough to curb global warming. A number of small factory owners and businesses, however, have pointed out that the transition to net-zero emissions will cost them hugely.
Trade sanctions on Russia by Europe and the US offer an opportunity for India, but the devaluation of the rouble may play spoilsport
Some jewellers kept their shops shut in Mumbai as well.
India Inc on Wednesday said it looked forward to the new RBI Governor Raghuram Rajan initiating cut in interest rates and improving credit flow to crucial sectors like infrastructure to put economy back on high-growth path.
Because of weak availability, buffalo meat exports have also declined over the last few weeks
Centre has already started work on developing a mechanism to ensure states producing any item in excess is able to transport it to other states where there is demand
The MHA said all the "glossy statements" about humanitarian work and speaking truth to power are nothing but a "ploy to divert attention" from their activities which were in clear contravention of laid down Indian laws.
India's bilateral trade with China will cross $1 billion this calendar year, but the country needs to diversify from iron-ore exports to other areas such as dairy, yarn and electrical machinery for sustaining the momentum, a top government official s
The French-speaking region of Western Switzerland has been promoting foreign investments by offering 10-year tax holiday for firms setting up manufacturing or contract manufacturing facilities there.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
Not only is gold a hedge against currency depreciation, rising crude prices and uncertainty, it is up 7 per cent (in dollar terms) in the past 12 months, says Devangshu Datta.
"Now the gof India has decided to soon initiate procurement from local industries to reduce import dependence," he said. Reddy, the Union Minister of State for Home, said for many years India was dependent on worldwide Original Equipment Manufacturers (OEMs) for procuring arms and ammunition.
The India government needs to work on policies that can enhance global trade.
Narendra Modi is to hold summit-level meetings with the heads of more than 50 African nations on Thursday.
Veteran industrialist Ratan Tata was conferred the title of "Global Visionary of Sustainable Business and Peace" by the Federation of Indo-Israel Chambers of Commerce (FIICC) for epitomising "unity, peace and sustainability". "Ratan Tata's support toward Israel has been unstinted. His commitment to put India on the global map with dignity and respect has been noted by each and everyone. "A man respected by the business communities of all the three countries - India, Israel and UAE - he epitomises unity, peace and sustainability," the president of the bilateral chamber, Gul Kripalani, said.
Despite the recent Western criticism on Bangladesh's labour standards, India has a long way to go before it overtakes the neighbour in global exports.
Saudi Arabia is the second largest importer of poultry products from India and exporters fear other importing countries might follow suit.
The prime minister is likely to talk about its possible extension.
RBI is unlikely to stem the slide against the dollar as the greenback is rising rapidly against all currencies in the world.
To address the supply crunch, CII has suggested leveraging the existing excess capacity in the Indian industry; rolling back import duty hike to look for alternative sources of imports; expanding credit to manufacturing units with quick loan sanctions, and one-time emergency waiver of non-performing asset regulations for three months.
Country's economic growth at 9% requires exports to rise by around 20%, says NSC chairman Pronab Sen
Singh, who arrived in Moscow on Wednesday on a three-day visit to attend a crucial meeting of the Shanghai Cooperation Organisation (SCO), pressed for expediting supply of a number of weapons systems, ammunition and spares to India by Russia under contracts which were concluded earlier.
Bharatiya Janata Party's prime ministerial candidate, Narendra Modi, last month urged small traders to compete with foreign retail chains through e-commerce.
Concern would kick in if imports stay at or over 100 tonnes a month.
Union Minister Maneka Gandhi has expressed concern about India being the world's largest beef exporter and claimed that the money from illegal animal slaughter was used for perpetrating acts of terrorism.
The time the companies have to get ready for GST is 6 to 12 months.
Srikanth Kondapalli on what to expect from the seventh BRICS summit meeting to be held in Russia in July.
The Swadeshi Jagaran Manch has pointed out that these firms pose a threat to domestic manufacturing and retailing as they do not pay relevant taxes such as GST, giving them a huge edge over local players.
The biggest lesson China can teach India is that when it comes to sustaining a love affair with investors, nothing works better than an undervalued currency and its by-product: a current-account surplus.
Usually, a fall in oil prices is followed with a cut in retail prices of auto fuels and the government passes on the benefit to consumers. However, Morgan Stanley believes gains this time around will remain capped.
The two countries also asked all nations to stop cross-border movement of terrorists and asserted that a decisive collective response from the international community without 'double standards and selectivity' was required to combat the threat of terrorism.
However, in recent times, the clout that trader bodies such as CAIT and other organisations like Swadeshi Jagran Manch and Laghu Udyog Bharati has is steadily increasing. Earlier this year, trader bodies were able to convince the government not to extend the deadline for implementation of the new norms in FDI policy on e-commerce.
It would also be the fifth month of consecutive drops in the index.
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