Last November, a lawyer for Future Retail Limited (FRL) told Delhi high court that Amazon is interfering with its lawful business and thousands may lose their jobs and FRL may go bankrupt. Senior advocate Harish Salve, who appeared for FRL, likened Amazon to East India Company. Senior advocate Gopal Subramanium, who represented Amazon, told the Future counsel to keep the "East India Company" rhetoric aside, as Amazon has invested $6.5 billion all over India and created 900,000 jobs. This drama played out in the case in which Amazon has challenged Future's $3.4-billion deal with Reliance, alleging the retailer's deal breached an agreement with the American e-commerce firm.
'Earlier, when they were selling tickets at Rs 1,000, a family of five could travel by flight.' 'When it comes to realistic pricing and the price becomes Rs 5,000, a family of five will have shell out Rs 25,000.' 'How many will be able to afford that?' 'You will see people switching back to train travel which is more realistic.'
'The government expects demand for electronic products to reach $400 billion by 2023-24. This would be a huge foreign exchange outflow, which may further widen our trade deficit with other nations. Hence, the government plans to push local electronics manufacturing to cut down on their import bill.'
Policy lays out a 5-year road map seeking creation of 3.5 mn jobs and promoting 10,000 start-ups.
Asserting that India has full potential to emerge as a global hub for electric vehicles by 2025, Union Minister Nitin Gadkari on Friday asked automobile manufacturers to reduce cost and forego profit initially to capture market and fuel growth. Once the market picks up there will not be any looking back, Road Transport and Highways and MSMEs Minister Gadkari said, promising all support to manufacturers in the initiative aimed at cutting India's huge import costs of crude and arresting pollution. The minister said he is scheduled to make an hour-long presentation on EVs before the Chief Justice of India post-Diwali.
The industry body has issued two advisories in an attempt to restore jewellers credibility in the wake of the Rs 12,000-crore PNB-Nirav Modi scam, and recent defaults by two domestic jewellers - Goodwin and Rasiklal.
The launch of e-RUPI, a person- and purpose-specific digital payment solution, by the government is expected to completely negate any pilferage and will ensure full benefit to intended beneficiaries, India Inc said on Monday. Prime Minister Narendra Modi has launched e-RUPI, which is aimed at improving transparency and targeted delivery of benefits. PHD Chamber of Commerce and Industry president Sanjay Aggarwal said that the move is a significant step to enhance the digitisation process of the country.
The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
Prominent e-commerce marketplace players include Amazon.in, Flipkart, Snapdeal, Paytm, Shopclues and Jabong
The govt hiked defence budget by 7.81 per cent over last year's Rs 2.74 lakh crore.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
Japan Plus to facilitate and fast-track investment proposals.
Ramesh Abhishek, secretary, Department of Industrial Policy and Promotion, talks to Subhayan Chakraborty about India's performance on the World Bank's ease of doing business ranking.
The overall FDI policy landscape is changing and can do so faster, says
Whether you are a fresh graduate, self-employed, an entrepreneur or a CXO, using LinkedIn strategically can put your career on an upward trajectory.
DIPP had proposed 100% FDI in Railways, which it had to now scale down to 74% in certain areas
A large chunk of the Rs 8.8 lakh crore of investments the Patnaik government had attracted is in uncertain territory.
'Banking is a business of trust.'
But, majority might be left out, as only those investing in entities recognised by the government could qualify
Three way split of AIADMK has slowed decision-making, prompting industry to look outside the state, says T E Narasimhan.
May include 'influencing a company's major policy decisions' in the current meaning.
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
At the heart of the issue is the way e-commerce is defined in the current draft policy.
Indian and global airlines such as SpiceJet, Emirates, Virgin Atlantic among others too are marketing Covid-19 insurance products to attract passengers.
India does not feature in the top 100 countries on eight of the 10 indicators of the World Bank study.
UK's largest retailer Tesco, Singapore Airlines and Etihad queued up to invest in India as a persistent UPA threw open more sectors to foreign investments with indications of more big ticket deals to be announced in the new year.
The coal ministry is likely to send the final list of files pertaining to coal blocks allocation which could not be located by Friday.
Consumer durable firms, including Haier, Whirlpool, Panasonic, Godrej Appliances and Daikin, are increasing prices of their products by up to 5 per cent following the withdrawal of excise duty sops, coupled with high input costs.
The government's programmes should be expected to generate some momentum, but the macro-economic numbers are not encouraging, observes T N Ninan.
Senior science journalist, Dinesh C Sharma told rediff.com that the way ahead would require higher public awareness and discourse on these factors and building advocacy for reversing such government policies
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Govt unveils reforms that cuts down time and bureaucracy.
States to come under DIPP watch on ease of doing business.
China said on Monday the additional barriers set by India for investors from specific countries violate the World Trade Organisation's principle of non-discrimination, and go against the general trend of liberalisation and facilitation of trade and investment. "More importantly, they do not conform to the consensus of G20 leaders and trade ministers to realise a free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open," said a statement issued by the Chinese embassy in New Delhi.
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
It will now take at least two more years to get a clarity on the priorities and policies of the leadership of the new state of Telangana.
On display were PM Modi's pet projects like the 'Make in India' scheme and 'Jan Dhan Yojana'.
Proposed investment dip 33% from Rs 1.42 lakh crore (Rs 1.42 trillion) in 2011 to Rs 94,259 crore (Rs 942.59 billion) in 2013
Although the idea is to focus on all states to turn India into a global manufacturing hub, the department of industrial policy and promotion, the nodal agency to carry out the campaign, has selected a handful of states that have a sound industrial backbone such as Maharashtra, Tamil Nadu, Karnataka, Gujarat, Andhra Pradesh, Telangana and others.
With the Union government clearing the way for foreign direct investment (FDI) in the railways, the Railway Board is devising a plan for operations, maintenance and construction projects.
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