The Oxford University and Stanford MBA graduate co-founded a 1-billion-pound global investment firm and specialised in investing in small British businesses
To tackle acute shortage of skilled workers, Germany has agreed to open its labour market for specialists from non-EU countries, including India, by easing the minimum salary requirement to obtain a residence permit.
After dipping by as much as 17 per cent in April, readymade garment (RMG) exports of all textile categories in India are showing signs of recovery in May. Exporters in Tiruppur are indicating a rise in rupee terms during the month, while it may take at least a month for volumes to be back in positive terrain. Among the global majors that are placing orders in the textile hub include Walmart, H&M (Hennes & Mauritz AB), Tommy Hilfiger and Target.
India is struggling with the second wave of coronavirus infection and hospitals in several states are reeling under a shortage of medical oxygen and beds in view of a rising number of COVID-19 cases.
Even as the Indian IT industry is studying the fine print of the European Union (EU) to expand the scope of value-added-tax (VAT) from January 1, to include services like back-office operations, call centre work and administrative services delivered from non-EU nations (including India), it does not appear to be unduly perturbed.
European regulators have estimated that consumers are paying up to 20 per cent more for medicines in some cases.
Says it is ready to show flexibility on all major issues
Modi told the delegation that urgent action was needed against those supporting and sponsoring terrorism.
In the first visit by a foreign delegation, a team of 23 MEPs travelled to Kashmir in October on a two-day visit to have a first-hand assessment of the situation after the state's special status was revoked in August by abrogating Article 370.
Geopolitical headwinds leading to lower demand from export markets, coupled with lower domestic buying, have dragged the auction average of Darjeeling tea to its lowest level since 2015. Data from Calcutta Tea Traders Association (CTTA) shows that the average price of Darjeeling tea at Kolkata auctions for January-December 2023 was Rs 319.74 per kg. The last time it dipped below this level was in 2015 at Rs 285.71 per kg.
Even as outsourcing demand from Europe revives after the debt crisis, data protection regulations in the region governing trans-border data flows could hurt the $108 billion Indian IT-ITeS industry.
India's upcoming presidency of the G20 grouping is a matter of pride and a great opportunity for the country in its 75th year of Independence, Prime Minister Narendra Modi said on Tuesday. Modi made the remarks after unveiling the logo, theme and website of India's G20 presidency during an online event. India will assume the presidency of the powerful grouping from the current chair Indonesia on December 1.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
Modi will embark on a three-nation tour beginning March 30 during which he will attend the crucial Nuclear Security Summit in Washington, India-EU Summit in Brussels and travel to Saudi Arabia, a key partner of India in the sensitive Gulf region.
The govt is likely to propose to the EU that it will validate security procedures in its airports before allowing passengers to carry duty-free goods to India. This is in retaliation to a similar proposal made by EU last year, which led to protests from companies operating duty-free shops in India. EU officials would have to validate the security systems at Indian airports before allowing transit passengers to buy at duty-free shops here, resulting in dispute between the two.
Even though Bharat Forge's performance in the July-September quarter broadly met Street estimates and defence orders are on the rise, the subdued outlook for its global business has prompted some brokerages to adopt a cautious stance on the company. Analysts have reduced the company's earnings per share (EPS) estimates to account for the slow recovery of its overseas subsidiaries. Valuations are also trading at long-term averages, which could limit potential upsides.
So far, WTO members have jointly respected and honoured the Bali commitments.
India would have to put at least 10 percent of scientific, managerial and industrial inputs in the project.
German Chancellor Angela Merkel will be arriving in New Delhi on October 4 on a three-day visit during which she will hold comprehensive talks with PM Narendra Modi.
Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. "But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
Coca-Cola India said on Monday it complies with all "relevant EU norms" while manufacturing its bottled water brand Kinley.\n\n\n\n
The silver lining for India's presidency is likely to be the support by almost all G20 countries to its proposal to include the African Union as a permanent member of the bloc that has emerged as perhaps the most influential multilateral forum after the United Nations.
Gangster Abu Salem, who survived bid on his life in a Navi Mumbai jail last month, will move the European Union seeking execution of the order canceling his extradition to India issued by the Portuguese constitutional court.
After a stellar run on the bourses that saw tractor stocks rise up to 52 per cent, analysts are turning cautious on the sector as muted demand trends may weigh in the near-term. Total volumes in the tractor segment for the last three quarters of the current financial year (9MFY24) have remained weak with VST Tillers, Escorts Kubota, and M&M seeing declines of 21 per cent, 5 per cent, and 3 per cent year-on-year (Y-o-Y), respectively, during the period, amid patchy rainfall, delayed crop harvest, and lower reservoir level. Across industry, total domestic sales volume so far in the current financial year (April '23 to January '24) has declined 5 per cent Y-o-Y, as per Tractor Manufacturers Association (TMA).
The European Union has recently introduced a condition on exporters to give a certificate with dispatches that they contain traditional Basmati rice to avail a rebate of 250 Euro per tonne, Lok Sabha was informed on Friday.
The David Cameron government has accepted the recommendation of the Migration Advisory Committee to specialist jobs such as pharmacists, veterinary surgeons, and speech and language therapists.
India may see a structural shift in supplies of crude oil with Russia emerging as a key source of fuels, a development that reduces New Delhi's dependence on West Asian oil, gives Indian refiners better bargaining power with price-setter Saudi Arabia, and improves overall energy security. The unexpected surge in supplies of Russian crude in the last few months, unthinkable until the war in Ukraine, may also deliver other unforeseen gains such as boosting exports of refined fuels to Europe, which historically has counted on Russian shipments. India has jumped on to the bandwagon of opportunistic buying of Russian crude but if calibrated carefully, Urals crude can be a long-term asset for India refiners.
The two teams said they had been reassured by Formula One's approach under chairman Chase Carey and his new management team, who had "brought a new culture of transparency to the sport".
A new rule by the European Union on duty-free purchases has raised strong protests from India's duty-free retail owners.
The long-pending issue of seizure of Indian generic drugs by European Union countries has been resolved, with the EU accepting India's position and agreeing to amend the rules to plug the loopholes that led to the seizure of shipments.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
European Union presents India with a huge opportunity to tap the services sector there including the information and communication technology, but Indians need to overcome the language barrier, said a senior official on Thursday.
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