Bonino told Business Standard that the Italian delegation, which included almost 400 top Italian CEOs, was extremely bullish on enhancing business ties with India.
Registering a jump of 10 places in the rankings, Uttar Pradesh occupied the second position in 2019 as against 12th in 2018.
Removal of this status means India can now enhance customs duties to any level on goods coming from Pakistan.
Unlike India, the US is a free-pricing market.
Equity benchmarks ended modestly higher on Friday after the Reserve Bank raised the key interest rate in an effort to cool stubbornly high inflation and defend the rupee. Continuous foreign fund inflows into the capital markets and softening crude oil prices also helped the bourses regain momentum, traders said. The 30-share BSE Sensex ended 89.13 points or 0.15 per cent higher at 58,387.93 after facing volatility during the fag-end of trade. During the day, it climbed 350.39 points or 0.60 per cent to 58,649.19. The broader NSE Nifty went up by 15.50 points or 0.09 per cent to finish at 17,397.50.
BSE benchmark Sensex nursed losses on Friday as investors pocketed gains after a five-session winning streak amid a bearish trend overseas. A depreciating rupee and foreign fund outflows further soured risk sentiment, traders said. The 30-share gauge, which had started the trade on a firm note, soon gave up all the gains and finally ended 651.85 points or 1.08 per cent lower at 59,646.15. The broader NSE Nifty snapped its eight-day rally to close at 17,758.45, down 198.05 points or 1.10 per cent.
Tech Mahindra was the top gainer in the Sensex pack, rising over 3 per cent, followed by Dr Reddy's, PowerGrid, Kotak Bank, Sun Pharma, ICICI Bank and M&M. On the other hand, IndusInd Bank, Asian Paints, Maruti and Bharti Airtel were among the laggards.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
Benchmark stock indices Sensex and Nifty rebounded from early lows to close over 1 per cent higher on Tuesday, helped by heavy buying in index heavyweight Reliance Industries, Infosys and TCS amid gains in global equities. The 30-share BSE Sensex closed up by 696.81 points or 1.22 per cent at 57,989.30. It touched a high of 58,052.87 and a low of 56,930.30 in intra-day trade.
The government on Friday expressed confidence that the export growth this year would stay on the double-digit track.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
Major General S C N Jatar, who passed into the ages on Monday night, thwarted anti-national forces at the peak of the Assam agitation. Colonel Anil A Athale (retd) salutes this officer and gentleman.
Prime Minister Narendra Modi on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years. Addressing a webinar on PLI scheme, organised by Department of Industry and International Trade (DPIIT) and NITI Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said. He added that there is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.
Hindustan Inks And Resins said the US International Trade Commission has determined that there is no reasonable indication that the US industry is materially injured on the basis of imports by its subsidiary, Micro Inks.
The order in favour of Vodafone is being considered significant because some domestic companies too are involved in similar transfer pricing cases.
According to industry figures, the pre-Covid demand for liquid medical oxygen (LMO) before the pandemic was 700 tonnes per day across the country. Now, with the second wave, the demand has gone up more than seven times, reports Jyoti Mukul.
Benchmark indices continued their downtrend on Monday, with the Sensex falling 84.88 points, tracking selling in index majors Infosys and Reliance Industries along with weak global equities. The 30-share BSE benchmark went lower by 84.88 points or 0.15 per cent to settle at 56,975.99 after recovering some lost ground during the fag-end of trade. During the day, it tanked 648.25 points or 1.13 per cent to 56,412.62. The NSE Nifty declined 33.45 points or 0.20 per cent to close at 17,069.10.
Benchmark indices bounced back on Wednesday after falling for five straight sessions, with investors snapping up the recently-mauled IT, finance and consumption stocks amid a supportive trend overseas. A rebounding rupee further bolstered sentiment, traders said. Halting its five-session slide, the BSE Sensex jumped 574.35 points or 1.02 per cent to finish at 57,037.50. Similarly, the NSE Nifty surged 177.90 points or 1.05 per cent to 17,136.55.
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
Equity markets began the new financial year with smart gains on Friday, with the Sensex rallying over 708 points to recapture the crucial 59,000-mark following gains in index majors HDFC twins and Reliance Industries, along with foreign fund inflows. On the first day of trading in the new financial year, the BSE barometer rallied 708.18 points or 1.21 per cent to settle at 59,276.69. During the day, it jumped 828.11 points or 1.41 per cent to 59,396.62. The broader NSE Nifty advanced 205.70 points or 1.18 per cent to settle at 17,670.45.
All sectoral indices, led by realty, PSU, oil & gas and banking, were in positive zone with gains of up to 1.25 per cent.
The two leaders discussed the Ukraine crisis and several regional and global issues including increasing trade relations and cooperation in the field of mitigating the impact of climate change during their bilateral talks at the Danish Prime Minister's official residence in Mareinborg near Copenhagen.
Appreciation of the rupee against the US dollar was adversely affecting the country's export growth, Union Commerce and Industry Minister Arun Jaitley said on Tuesday.
Benchmark BSE Sensex rose by over 379 points on Tuesday as gains in oil & gas, banking and auto shares helped the barometer continue winning run for the third straight session. The 30-share BSE benchmark index advanced 379.43 points or 0.64 per cent to settle at 59,842.21. During the day, it jumped 460.25 points or 0.77 per cent to 59,923.03. The broader NSE Nifty climbed 127.10 points or 0.72 per cent to 17,825.25 as 42 of its constituents advanced.
National Security Advisor Ajit Doval will hold crucial talks with the top US leadership, including his counterpart Jake Sullivan, on the first high-level dialogue on Initiative for Critical and Emerging Technologies (iCET).
Karnataka government has decided to approach the Centre for approval of its proposal for creating a Coastal Economic Zone, state's Minister for Large and Medium Industries R V Deshpande has said.
From the Sensex pack, State Bank of India, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, Reliance Industries were among the major laggards. Bucking the trend, auto stocks Tata Motors and Mahindra & Mahindra closed with gains.
The department for promotion of industry and internal trade (DPIIT) has suggested to the home ministry to allow limited activity in certain sectors such as heavy electricals and telecom equipment with reasonable safeguards. In a letter to Home Secretary Ajay Kumar Bhalla, the department said that these activities are essential to improve the economic situation and provide liquidity in the hands of the people.
For insurance intermediaries like brokers, insurance repositories, third-party administrators, etc, 100 per cent FDI may be permitted.
Benchmark indices advanced for the second straight session on Tuesday, with the Sensex and Nifty jumping nearly 2 per cent each, mirroring a rally in global equity markets. Buying in index majors Reliance Industries and IT stocks buoyed the benchmarks. The BSE Sensex zoomed 934.23 points or 1.81 per cent to settle at 52,532.07. During the day, it rallied 1,201.56 points or 2.32 per cent to 52,799.40. The NSE Nifty climbed 288.65 points or 1.88 per cent to finish at 15,638.80.
Ahead of his crucial talks with Russian President Vladimir Putin in Moscow, Chinese President Xi Jinping said on Monday that his peace plan to end the raging Ukraine war takes into account the 'legitimate' concerns of all parties and reflects the broadest common understanding of the international community.
Similarly, FDI from Cyprus too increased by about three-times to $879 million in the last financial year from $296 million in 2018-19.
Lump sum investments in equity and hybrid schemes of mutual funds (MFs) declined to Rs 17,900 crore in October - the lowest since January 2021. The fall in lump sum investments comes even as flows through systematic investment plans (SIPs) rose to a new all-time high of Rs 13,000 crore in October. The latest lump sum tally is just a third of the peak inflow of Rs 49,700 crore in July 2021.
Equity markets halted their two-day rally on Friday, with the Sensex tumbling 714.53 points amid weak global equities and selling in index majors Infosys, ICICI Bank, HDFC Bank and Reliance Industries. Continuous foreign fund outflows also dented sentiments. The BSE benchmark Sensex tanked 714.53 points or 1.23 per cent to settle at 57,197.15. During the day, it plummeted 776.96 points or 1.34 per cent to 57,134.72. The NSE Nifty also declined 220.65 points or 1.27 per cent to 17,171.95.
Vice President Hamid Ansari on Thursday visited Angkor Wat days after India allayed Cambodian concerns over reports of building of a replica of the world heritage site in Bihar.
As US President Joe Biden launched a new trade deal with 12 Indo-Pacific nations, including India, to enhance trade, economic and investment opportunities, China, which sees the pact as a threat to its dominance in the region, went on the offensive against it, promising more opening up, while the official media here termed it as "economic Nato".
Markets regulator Securities and Exchange Board of India (Sebi) is examining allegations of front-running and other irregularities against a host of domestic fund managers across the asset management industry, said people in the know. Developments at Axis Mutual Fund have prompted the regulator to speed up probe to ensure that there is no drop in confidence in the Rs 39-trillion mutual fund (MF) industry. "We have received complaints against a few fund managers and are looking into possible violations, including those related to code of conduct," said a regulatory source, refusing to divulge names of fund houses as things are at a preliminary stage.
United States Border Security, Economic Opportunity and Immigration Modernisation Bill, 2013 has not yet been enacted.
CNG price in the national capital and adjoining cities on Tuesday was hiked by Rs 0.50 per kg, while an imminent increase in petrol and diesel price has been put on wait-and-watch mode for more clarity on global oil prices. CNG price in NCT of Delhi has been increased to Rs 57.51 per kg from Rs 56.51, according to the information posted on the website of Indraprastha Gas Ltd - the firm which retails CNG and piped cooking gas in the national capital. Following the firming up of international gas rates, IGL has been raising CNG rates by up to 50 paise (Rs 0.50) per kg periodically. Prices have gone up by about Rs 4 per kg this year alone.
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
