Duty changes in the Budget make refining unviable.
Modi knew in his heart that India does not have the financial muscle to support the new bank with offers of co-financing international projects, something China can do from the bank's base in Shanghai. If established in Mumbai, it may have employed a few Indian bankers and satisfied the national ego but there was little financial value to be drawn from it.
India and China on Friday agreed to set up a dedicated communication channel to boost security cooperation as Home Minister Rajnath Singh held talks with China's security czar on issues like cross border terrorism from Pakistan and the Afghan situation.
'There is more to life than sport and anything can happen in sport, so you need something to fall back on'
Concerned over decline in gold exports from SEZs following ban on its trading, the government has allowed units in these zones to export gold items after a minimum value addition of 3 per cent.
Government allows duty-free import of 500,000 tonnes raw sugar till June 12. At present, India levies an import duty of 40% on sugar
It is time to reset expectations as government will move with alacrity on social policy, not on economic reforms.
The company, which is facing strike at its Bengaluru plant, and had faced labour unrest at Jaipur plant, also said that such stirs could hurt India's competitiveness.
Russia is a strong and reliable friend of India and both countries have a "truly strategic" partnership, PM Modi on Thursday told President Vladimir Putin.
'Europe can be discussed on a golf course...' 'North Korea? What do I care what the man with the bad haircut does?'
It is in no way a government of the economic Right. The Right is limited to religion and nationalism. The rest is as Left as the Congress or any other party, observes Shekhar Gupta.
Eyeing greater cooperation with South East Asian countries on economic and security issues, India on Thursday announced a separate Mission for ASEAN region to be set up in Jakarta with a full-time resident Ambassador.
The match lived up to its billing right from the start
Special Economic Zones are likely to be central to realising Prime Minister Narendra Modi's ambitious Make in India agenda.
'China's moves are of direct significance to India, which will closely monitor Chinese naval activity in the Bay of Bengal and the Indian Ocean not least because of Chinese maps depicting claims over the Andaman and Nicobar Islands.'
India is also likely to push for a Free Trade Agreement with the Eurasian Economic Zone and is sharing details of the study it conducted in this regard.
The government on Wednesday unveiled the FTP for 2015-20.
Harris, in a major foreign policy speech as part of her three-day visit to Singapore, said America's vision includes the freedom of navigation which is vital to all.
FMCG, durables, pharma firms say they remain unclear about transition gains and losses
We do not know, because there has been no discussion, no transparency and most likely no real thinking on this matter at our end, observes Aakar Patel.
"I've spoken with Foreign (External Affairs) Minister (S) Jaishankar a number of times about this (Chinese aggressive actions). The Chinese took incredibly aggressive actions. The Indians have done their best to respond to that," Pompeo told reporters at a news conference in Washington, DC.
Iran's decision to keep India out and welcome China to the scene is a huge strategic setback for India, observes Dr Rajaram Panda.
References to the repealed laws for service tax, purchase tax, etc, continue in the SEZ laws.
The target of $500 billion in bilateral trade by 2020 is doable, feels Anand Sharma.
The Nifty Index features 50 of the largest companies in the country and represents close to 50 per cent of total market capitalisation. It is now trading at valuations that could only be justified if India Inc grows earnings at better than thrice the GDP growth rate. This is extremely unlikely, says Devangshu Datta.
Even as the industrial cycle has ground to a halt during the 21-day lockdown, the industry has been hit hard by foreign orders from major clients in the US and Europe being cancelled. Also, a sudden lack of labour has crippled the sector because of a mass exodus of workers from industrial units to the hinterland.
Terming China as "number-one abuser", leading Republican presidential candidate Donald Trump has alleged that the Communist nation, along with India, is taking advantage of the US through its economic policies.
He asked the people to shun the argument that they 'want to enjoy before the third wave of coronavirus' and stressed that there should be no compromise in following COVID-19 protocols.
'Ensuring through diplomatic means and in conjunction with strategic partners that India will not be required to fight a simultaneous two-front war with China and Pakistan.' Brigadier Gurmeet Kanwal (retd) lists what India must have in its national security strategy.
While some CMs suggested reopening economic activity in phases, others pitched for the extension of the coronavirus lockdown, but with a carefully crafted exit strategy
Vietnam is a key player in India's act east policy under Prime Minister Narendra Modi. From India's perspective, a strategic partnership with Vietnam will only deepen political, economic, and security ties and be a bulwark against China, say Melissa S Hersh and Dr Ajey Lele
'There is tension between the zones all the time.'
India and Russia on Thursday decided to expand cooperation in various sectors as they signed 16 pacts, including on joint manufacture of 226 military helicopters.
'Relations between India and Japan are robust and devoid of either shadow of history or any irritant.' 'In fact, there is plenty of warmth and goodwill earned over history. There are no negatives but only opportunities,' notes Dr Rajaram Panda.
The outlook is improving and that mostly reflects the fact that the new government has pledged to prioritise economic reforms.
India and Bangladesh have opened a new chapter in their ties as they settled the 41-year-old boundary dispute and promised to do more in other areas amid Prime Minister Narendra Modi's announcement of a fresh line of credit of $2 billion (Rs 12,821 crore) to the neighbouring country.
Ministry considering tax sops for India's first global financial centre, steps to liberalise futures and options markets.
India has some ability to influence what the world order will look like, but it needs to make structural changes to the ministries of external affairs and commerce, and evolve formal coordination mechanisms with the ministries of finance and home, says Nitin Pai
By refusing permission for the proposed ship-breaking facility, India can send a categorical message to the foreign ship owning countries that they should keep their own waste and recycle
'India does not wish to remain silent in improving its strategic space so that its leverage to counter China's expansionist designs is maintained, besides enabling it to play a responsible role from a position of strength for peace and stability in Asia,' points out Dr Rajaram Panda.
