'Narasimha Rao asked me why China was doing so well in attracting foreign investments and I gave my frank opinion.' 'I told him that giving thrust to exports had to be a national effort.' 'But in India, the system was very centralised in the Government of India and the state governments had no role to play.'
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
Prime Minister Narendra Modi on Monday said India has made its policies transparent and predictable and clearly defined the procedures for businesses.
The Reserve Bank of India has also expressed concern over rising inflation and said the prevailing level is above its comfort zone.
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
The much-delayed Foreign Trade Policy (FTP), which will roll out steps to boost exports, is expected to be unveiled soon.
India's disappointment over recent 'protectionist' measures by the United States, including increase in visa fee for IT professionals and Ohio's ban on government outsourcing, will be raised at the high level ministerial meeting in Washington on Tuesday.
In the first nine months of financial year 2022-23, India's exports of medical devices have grown by 17 per cent, while imports have declined by around 8 per cent, show the latest data compiled by the Association of Indian Medical Device Industry (AiMeD). However, import of 30 medical devices from China has risen between 25 per cent and 152 per cent during this period, the AiMeD has written to Commerce and Industries Minister Piyush Goyal in March. The AiMeD is an umbrella organisation of medical device makers.
India on Tuesday said that several actions taken by the US with regard to offshore outsourcing and other trade issues are "not welcome at all".
'They know that if they do not tie up with the Congress, then the minorities will move to the Congress.'
International investors are encouraged by the Indian government's recent economic policy announcements, including that on opening the retail sector to foreign direct investment (FDI). However, they would track how these measures were implemented, said speakers at the annual India Investment Forum in New York.
Dispute over IPR was a bone of contention in bilateral ties till a couple of months ago.
G20 is an ideal platform to discuss and find solutions to "most pressing" problems such as global warming and climate change which affect the poor most, President Droupadi Murmu said in her maiden address to the nation on the eve of Republic Day.
The prime minister also underlined the importance of a free and open Indo-Pacific for the Pacific island nations and said India respects the sovereignty and integrity of all countries.
The government has asked Twitter and other social media platforms to take down a video of two Manipur women paraded naked, since the matter is being probed.
'With free software on the Internet and apps, creating a deepfake video can take 3 to 5 minutes. Anyone can make these videos.'
Keep revising the sum insured at the time of renewal to keep it in line with inflation.
Reliance Jio has sent a second legal opinion to the Telecom Regulatory Authority of India (Trai) on the subject of the potential allocation of satellite spectrum. The letter is written by retired Supreme Court Justice L Nageshwara Rao and argues in favour of auctions, stating that any other method for allocating spectrum apart from auctions could be constitutionally unsound. Business Standard has reviewed the letter.
Kamal Nath said the meeting identified "some areas of concerns and interest" from both sides impacting two-way trade, like "the issue of setting up titanium plants for the aircraft sector.
Citing India's commitment to deep economic reforms and ease of doing business, Prime Minister Narendra Modi asserted on Monday that this is the best time to invest in the country as policy-making is focussed on the needs for the next 25 years for a 'clean and green' as well as 'sustainable and reliable' growth period. In his special address to the World Economic Forum's online Davos Agenda 2022 summit, Modi underlined a host of reform measures undertaken by his government to stress that it has worked to reduce the administration's interference in business by deregulating many sectors and to clear the way for free trade agreements with different countries. India was once associated with "license raaj", he noted and highlighted the measures, including reduction of corporate tax to boost business and doing away with over 25,000 compliance requirements.
A top Bush administration official has said that there is "tremendous potential" for the growth of US-India trade and hoped that the two countries would work together for a strong Doha Round Agreement.
External Affairs Minister S Jaishankar on Wednesday held wide-ranging talks with his Russian counterpart Sergey Lavrov focusing on the Ukraine conflict, bilateral ties and issues relating to the G20 foreign ministers' meeting.
Domestic exporters may soon start shipments of mangoes, such as 'Dasheri' and 'Langda', to the US as America will start accepting testing certificates of specified agencies of India, a senior government official said on Tuesday. India has not exported mangoes to the US for the last two years. The set protocol involves the arrival of the US phytosanitary inspector, who monitors the process, which is called pre-clearance operations before exports. They have not visited India during the summer of 2020 and 2021.
Even as the bilateral relationship between the two neighbouring countries remains hostile, there is growing coordination between India and Pakistan on one multilateral forum - the World Trade Organization (WTO). Both countries have made two joint submissions at the WTO as co-sponsors in the past two months. In June, Pakistan joined India, Cuba, and 44 African countries, seeking sufficient flexibility in intellectual property rights for developing countries to fight the Covid-19 pandemic.
However, the countries did not take up the issue of proposed withdrawal of export incentives by the US to Indian exporters under Generalized System of Preference.
Last month, Pakistani authorities released 198 Indian fishermen, languishing in a prison in Karachi after arresting them for allegedly fishing illegally in the country's waters.
Prime Minister Narendra D Modi's itinerary for his June 21-24 US visit could include an address to a fledgling business advocacy group, the US-India Strategic Partnership Forum.
India-Vietnam relationship has its own imperatives and dynamism. In India's look east policy Vietnam has been the major pivot, at least in terms of security and strategic imperatives, says Rup Narayan Das.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
The Americans have expended a lot of diplomatic energy to coax India into toeing their line but India has refused to buckle under pressure. As Foreign Minister Subrahmanyam Jaishankar said, India has not taken anyone's side but its own side, points out Virendra Kapoor.
The Indian startup ecosystem has lauded the inclusion of startups in the New Delhi Leaders' Declaration for the first time ever in the history of G20. Industry stakeholders say that the move will lead to easier access to capital, reduce regulatory hurdles, and may revive funding activity. The Declaration, through the Startup20 initiative, recognised startups as "natural engines of growth" and key to socio-economic transformation by driving innovation and creating employment.
'If Manipur is divided on ethnic lines, similar demands will come in other states also.'
Talking to PTI Amarjeet Kaur, General Secretary of All India Trade Union Congress (AITUC), said, "The two-day nationwide strike by the joint forum of central trade unions has begun this morning". About the impact of the agitation, she said that the entire coal belt (mining area) is affected in Jharkhand, Chhattisgarh and Madhya Pradesh. She also said that there is a good response in industrial areas of Assam, Haryana, Delhi, West Bengal, Telangana, Kerala, Tamil Nadu, Karnataka, Bihar, Punjab, Rajasthan, Goa, Andhra Pradesh and Odisha. The AITUC official noted that the banks and insurance sectors are affected all over India, while steel and oil sectors are also seeing partial impact due to the strike. Kaur said that she has got preliminary reports that markets are closed in Odisha.
The Congress leadership on Friday held separate meetings to review its performances in the assembly polls in Chhattisgarh and Madhya Pradesh, and said its defeat in the two states at the hands of the BJP was unexpected.
India and US keen to strengthen trade ties, hold talks after 4 years.
According to reports, public transport and banking services remain partly disrupted for the second day in some states.
The best of India's brains are instead busy solving the world's problems (I deliberately exaggerate a bit to drive home the point), as our policies incentivise them to do so.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances