Under a 2010 nuclear liability law, nuclear equipment suppliers are liable for damages from an accident, which companies say is a sharp deviation from international norms
"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 development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
Advantages are not being leveraged fully mainly because of lack of funds, say experts.
Siemens Healthineers, one of the largest manufacturers of made-in-India CT scanners, has sold 80-100 such machines in the last 45 days. The medical technology firm typically sells 250 machines in a year.
The department found various expatriates were acting as business heads for Indian operations and certain employees were actively involved in concluding sales for the foreign entities of GE in India.
As Prime Minister Narendra Modi arrived in New York on Friday on a five-day US visit, he was greeted with 'Har Har Modi' slogan.
Chief of Defence Staff Gen Bipin Rawat, his wife Madhulika Rawat and 11 others were killed when an Indian Air Force helicopter carrying them crashed on Wednesday near Coonoor in Tamil Nadu in apparently foggy conditions, killing 13 people on board, the IAF and other officials said.
Calling the young CEOs as his team, Modi said India's development must be made a mass movement and entrepreneurs should think of what more they can do for the country's growth and for the poor.
India can attain a higher GDP growth of 7-8 per cent annually to become the third largest economy after the US and China by 2020
And here's 6 things you need to know about it.
An estimated 40 lakh (4 million) new jobs are likely to be created in India in the next couple of years as a number of foreign firms are set to shift their back-office jobs to the IT-dominated country.
US-based global technology giant IBM expressed keen interest in participating in India's newly-launched initiatives like Smart Cities and Digital India.
Indian and American experts on Wednesday held detailed discussions on a range of implementation issues, including administrative, liability, technical and licensing matters to advance the operationalisation of Indo-US civil nuclear cooperation that has been in limbo for past 9 years.
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala's new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France. Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline. The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa's holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into domestic aviation, due to take off in summer 2022, is whether it is another pie in the sky.
Most successful and ambitious business leaders feel persuaded that they have no competent successor, says R G Vilakudi.
India serves as the company's R&D hub as it morphs into a health tech major.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
'At a time when the entire India-US relationship needs to be defined by President Trump and Prime Minister Modi, a fresh look at the liability issue has become urgent,' says Ambassador T P Sreenivasan, former Governor for India at the IAEA.
Defence major Boeing on Monday proposed greater business engagement with India, as Prime Minister Narendra Modi promised the US companies to provide friendlier business environment in the country.
This would make India the world's second-biggest nuclear energy market after China
India is the perfect place to innovate because locals are aware of what's needed and have the intellectual capacity and engineering excellence to create and think outside of the box.
SBI's Bhattacharya is ranked second on the list, while ICICI's Kochhar is 5th and Axis's Sharma is 19th in the Fortune list
In a last-minute twist, General Electric of the US has bagged the hotly contested $800-million tender to supply 99 engines for India's Tejas light combat aircraft (LCA). After both engines in the contest -- GE's F-414 and Eurojet's EJ-200 -- were found technically suitable, the F-414 has been declared the cheaper option.
The programme in India takes in 25-odd executives who have already worked for a few years. Upon passing out, they are expected to be future 'growth' leaders at GE, which earns about $2.6 billion (Rs 12,135 crore) in India a year and employs over 14,500 people across the country.
Air India is keen to raise working capital by selling aircraft.
Most business groups in India, including Godrejs, Tatas and Mahindras, have seen patience tested in JVs, with some of them winding up quickly
'Abid Neemuchwala has demonstrated a deep understanding of technology, business vision, sound judgment, and an innate ability to bring people together.'
In New Delhi's corridors of power, debate continues on whether the navy even needs a third aircraft carrier.
More and more banks are sensing big opportunity in the high-margin, small consumer loans business.
T K has been an integral part of the organisation's leadership for years, says Azim Premji.
While the first wave of moving work to India was driven by cost considerations, increasingly companies are banking on local talent to add value to their business by jointly developing products and solutions.
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
when the Maharashtra delegation of small and medium businesses arrived in the US on October 9, the Indian consulate decided against holding a standard reception replete with boilerplate speeches. Rather, the consulate put together a programme that would increase the chances of things working out for them. They held an event on Lex Terrae (law of the land).
Interview with Chairman & CEO, General Electric.
From trusted bureaucrat, to Wharton, MNC executive to businessman, and now politician, the man in charge of two weighty ministries is a unique all-rounder with specialist knowledge.
'Serial testing is much more valuable than a single test which reflects just a point in time.'
'I'm not surprised with what's happening in India,' 'Tiger' Tyagarajan tells Nivedita Mookerji.
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