Moody's Investors Service on Thursday said India is likely continue to face challenges in raising longer-term growth potential and creating enough jobs for its young population in the absence of higher trade openness. In its report on South Asia sovereigns, Moody's said compared with other South Asian economies, India appears to be in a better position to deepen its integration in global value chains, attract FDI and increase exports. The country has better macroeconomic fundamentals, more stable politics and a more developed export sector.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Winding up his visit to Canada, Prime Minister Narendra Modi said it was a historic trip that will herald a new era of cooperation between the two countries.
Recently, the government had appointed former Chief Justice of India R C Lahoti as arbitrator in the tax dispute case.
Etihad has been in talks for a 24 per cent equity stake in Jet, valued at around $300 million, ever since India relaxed ownership rules and allowed foreign airlines to buy up to 49 per cent in local carriers.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Global coworking player WeWork has filed for bankruptcy in the US and has also started a comprehensive reorganisation and restructuring process to cut debt and strengthen its balance sheet. NYSE-listed WeWork Inc said that its centres located outside the US and Canada will not be part of this proceedings. Softbank-backed WeWork Inc, which was once valued at $47 billion, had reported a net loss of $696 million in the first half of this year.
A consortium of shareholders with over 30 per cent stake in cash-strapped Byju's might approach the National Company Law Tribunal (NCLT) seeking a management change, if the extraordinary general meeting (EGM) scheduled for Friday failed to yield an 'amicable settlement' or faced further delays, sources said. Earlier this month, these shareholders had issued a notice calling for an EGM to address "persistent issues", including a change in management. They will vote for a revamp of the existing board, an exercise which would include asking Byju Raveendran to step down as chief executive officer (CEO) and relinquish his operational role, according to sources.
Inviting investment from India, Vietnam on Monday said it was committed to building stable, transparent and free trade relations with all its trading partners.
India will finally sign an investment treaty - the Bilateral Investment Promotion and Protection Agreement (BIPA) - with Myanmar in the first week of April. The pact is going to be of critical interest to a host of oil majors looking at investments in the resource-rich country.According to sources, the treaty will be signed with the approval of Prime Minister Manmohan Singh. The Cabinet ratification, they say, will come later.
It will be safe to incur these costs initially to prevent any problems in the future, which would be far more expensive, in terms of money, time and effort.
A finance ministry official said Vodafone had threatened arbitration against something that had not happened. He said the UK-based telecom company was presuming it might happen.
Companies from both sides have shown interest in entering the energy, cement, healthcare, and hospitality segments. Banking is also likely to draw some interest.
In February, the Supreme Court had cancelled 122 telecom licences. Many of these belonged to foreign companies or companies with foreign investors.
The MoU on combating crime covering terrorism was signed by Home Minister Shivraj Patil and Saudi Foreign Minister Prince Saud al-Faizal bin Abdul Aziz al Saud.\n\n
The defence minister also said that India attaches importance to peaceful resolution of differences through dialogue and is committed to respect various agreements inked for maintenance of peace along the borders.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
Future Retail's (FRL's) independent directors have written a second letter to the Competition Commission of India (CCI), stating American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and the representations made by the US e-commerce player were completely opposite and contradictory to their own internal correspondences as submitted before courts. The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations. By actively misleading the CCI and the regulator, it has to revoke the approval granted for Amazon's investment in FCPL.
Ring fence your family's assets with a trust as this ensures fewer disputes, advises Sandeep Nerlekar.
Business and industry leaders from India and Pakistan on Tuesday said the two countries would look up to the 21st century as one of trade - and not of wars.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
The Securities and Exchange Board of India (Sebi) has proposed to put a stop to the practice of certain directors occupying permanent board seats at listed companies. The regulator has suggested that the directorship of any individual serving on the board should be subject to periodic approval from shareholders, at least once in five years. In a discussion paper issued on Tuesday, Sebi said a few promoters enjoyed permanency on the board, giving them an undue advantage, prejudicial to the interests of public shareholders.
The talks between the two leaders covered the entire gamut of bilateral ties as well as key regional and global issues, including the Ukraine conflict.
In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing. This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign. Now, the national accounting watchdog has turned the spotlight on audit firms themselves.
The government's annual Economic Survey on Friday strongly defended new farm laws, saying they herald a new era of market freedom which can go a long way in improving lives of small and marginal farmers in India. These legislations were designed "primarily" for the benefit of "small and marginal farmers", which constitute around 85 per cent of the total number of farmers and are the biggest sufferer of the "regressive" APMC-regulated market regime, the survey said. The pre-budget document defended the farm laws in the backdrop of long-running farmers' agitation at various borders of the national capital seeking repeal of these legislations expressing concern that they are pro-corporate and could weaken government regulated mandis, also called Agriculture Produce Marketing Committees (APMCs).
Investing in a Unit Linked Insurance Plan increases your life cover and also helps you save tax, says Vivek Jain.
'Every telecom user wishes to know who is calling. This will help in preventing cyber frauds using telecom services.'
Seeking to further strengthen bilateral economic relations, Prime Minister Narendra Modi on Sunday said India and the US will "restart" discussions on the Social Security Agreement and resume talks on Bilateral Investment Treaty.
India is unlikely to join the ongoing negotiations for a plurilateral deal on e-commerce at the World Trade Organization (WTO), notwithstanding a change in stance on data localisation and cross-border flow of data. Under the new draft digital personal data protection (DPDP) Bill, put out on Friday for public consultation, the government has proposed free cross-border flow of data with 'friendly' nations, significantly easing its earlier stance on data localisation. India has so far stayed out of a group of 87 countries, including the US, European Union, China, and Japan that are negotiating trade-related aspects on e-commerce since December 2017.
Biden said over a year later Russian President Vladimir Putin has "failed and he continues to fail".
During his visit to India last year, Australian Prime Minister Tony Abbott had expressed concern over lack of growth in bilateral trade.
Garcetti suggested that the two countries are working on certain agreements to bolster defence cooperation and they are likely to be firmed up when Modi visits the US or President Joe Biden comes to India in September for the G20 summit.
These mistakes can turn out very expensive and not just in terms of your finances, but also in the time it will take to resort to the conflict at hand. Having a legal hand can save you from any unforeseen troubles, alerts Harshit Malik, entrepreneur, wisdom coach and enrichment guide.
Chief Economic Adviser (CEA) K V Subramanian on Tuesday exuded confidence that India would achieve double-digit growth in the current financial year on the back of policy initiatives and continuing reforms. He also said the country is well poised to meet the fiscal deficit target of 6.8 per cent of GDP. "At this stage, I can say confidently that we should be able to achieve that fiscal deficit number. "Any shortfalls that might happen on the disinvestment side will also be accompanied by positive surprises that have happened on tax revenue," he told reporters.
The government has signed Bippas with 72 nations.
A group of lenders to educational technology (edtech) giant Byju's has told the firm that they're open to negotiations with the company to resolve litigation and other disputes, according to people familiar with the matter. However, they have told Byju's that they will not engage in the firm's proposal for one-on-one meetings, according to sources. Byju's recently filed a suit against US-based investment management firm Redwood to challenge the acceleration of the $1.2-billion Term Loan B (TLB) facility, and disqualify the lender for its "predatory tactics".
Holding that transparency, predictability and upholding the rule of law are essential for better ties, a senior American diplomat today said the US is keen to restart work on a Bilateral Investment Treaty (BIT) with India for deepening economic relationship.
'An area of land has already been earmarked for their protected habitation.' 'There are also steps being taken to take care of the coral zone and mangroves.'
Wadia group-owned Go First will temporarily suspend flights on May 3 and 4 amid severe fund crunch, the airline's chief Kaushik Khona said on Tuesday.
Three key agriculture Bills, approved by the Lok Sabha, are facing staunch opposition from within the ruling coalition with senior minister Harsmirat Kaur Badal resigning in protest and farmers hitting the street.
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