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.
Where does Basavaraj Bommai stand three months after he assumed the reins of power in Karnataka?
States to come under DIPP watch on ease of doing business.
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.
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.
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
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
Here's the full text of the maiden address to the nation by President Droupadi Murmu on the eve of Independence Day 2022.
In December 2019, the India arm of Deloitte Touche Tohmatsu surprised many with its ultra-competitive bid to become the transaction advisor for the country's largest strategic divestment in Bharat Petroleum Corporation (BPCL). The multinational major quoted just Rs 1; the second-highest bidder, SBI Caps, reportedly quoted Rs 15-17 crore. For Deloitte, the motivation was to bag a prestigious deal adding a national energy company to its portfolio. No doubt, it expected BPCL to go to a marquee buyer in quick time.
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
On display were PM Modi's pet projects like the 'Make in India' scheme and 'Jan Dhan Yojana'.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
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.
At the heart of the issue is the way e-commerce is defined in the current draft policy.
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.
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.
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
The stipulation that new front-end stores will have to be set up will impact M&A in the sector.
US retail chain Walmart is awaiting a decision by its board decision on its India strategy, including its partnership with the Bharti group.
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 overwhelming feeling at the end of COP 27 was that despite decades of meetings and landmark accords, like the Paris Agreement, the world was still not doing enough to slow the climate crisis, observes Ambassador T P Sreenivasan.
The one-year extension would give Walmart and its Indian joint venture partner in the cash and carry business, Bharti Group, more time to sort things out and decide on a retail foray together, people in the know said.
Indian and global airlines such as SpiceJet, Emirates, Virgin Atlantic among others too are marketing Covid-19 insurance products to attract passengers.
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
For the second year in a row, India has been recognised as the fifth-best performing nation in reforming the business environment. However, in the two categories that the government was banking on most - "Paying Taxes" and "Resolving Insolvency" - landmark reforms that were expected to yield better results have had the opposite effect. Under the circumstances should the country celebrate already or are there any reasons for worry, wonders Subhayan Chakraborty.
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.
Aiming to push India into the list of the top 10 agri export nations, the policy has been backed by the Prime Minister's Office
Whether you are a fresh graduate, self-employed, an entrepreneur or a CXO, using LinkedIn strategically can put your career on an upward trajectory.
'Banking is a business of trust.'
The government's programmes should be expected to generate some momentum, but the macro-economic numbers are not encouraging, observes T N Ninan.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
While the gold policy covers every aspect, from sourcing gold to trading and investing in it, experts assert that the policy is incomplete if mining of gold in India isn't promoted.
With 4G coverage spreading, Indian consumers will likely be more open to investing in smartphones
Services attract highest foreign direct investment, despite Make in India push.
The land transfer or subleasing would allow the Patanjali Group to set up the food processing facility and entitle it to other incentives under the central policy guidelines.
Apple sought exemption from mandatory local sourcing of components for its products
CBI has also summoned a senior official of Reliance Industries Limited and a noted chartered accountant.
The Confederation of Indian Industry will organise a round table on investment.
The Taiwanese maker is adopting a model of setting up smartphone assembly lines in multiple cities across India.
