Over the years, India-EU ties have grown, and covered trade, investment, climate change, science and technology, space, digital, mobility, and connectivity.
Ruling that Flipkart cannot "escape liability" as "mere intermediary" in an online purchase, a consumer commission here has found the e-commerce platform and television manufacturing company Thomson guilty of deficiency in service after a defective TV was delivered to a customer.
'The US has agreed to negotiate with us a mutually beneficial bilateral trade agreement, which will go for reduction of tariffs on both sides so that our trade can grow.'
India and Italy on Monday agreed to step up trade flows and explore enhanced cooperation in textile clusters and design.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
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.
Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
Whether it's Carrefour, Ford, or other foreign majors, they are ready to adjust their strategies and design their plans in a way that would address the Indian consumption story.
The department of personnel and training has asked the Union Public Service Commission to recruit such specialists through "lateral entry" mode in 12 government departments/ministries, he said.
He also thanked Oman for its support in anti-piracy operations.
A decision to this effect was taken at the Indo-Saudi Joint Commission meeting attended by finance minister Pranab Mukherjee and the Saudi minister of commerce and industry, Abdullah Zainal Alireza, at Riyadh at the weekend.
India has expressed concerns at the loss of over $250 million annually in its textile trade due to the discriminatory concessions extended by the European Union to Pakistan under the revised GSP regime.
India imported goods worth $4.23 billion in June from sanctions-hit Russia, up 6.8 times as compared to last year, as demand for shipments of crude oil grew at the fastest pace during the month. Crude oil worth $3.02 billion was imported in June, which translates into a share of 71 per cent of the total imports from Russia, commerce and industry ministry data showed. Similarly, during the April-June quarter, India's imports from Russia were valued at $9.27 billion, up 369 per cent on year.
The threat may be a decade away, but it has brick-and-mortar sellers rethinking their strategies and banking on the govt to regulate online companies.
The two countries also signed memoranda of understanding in education and health sectors after visiting External Affairs Minister Sushma Swaraj and her Lankan counterpart Mangala Samaraweera co-chaired the 9th Indo-Lanka Joint Commission meeting in Colombo.
The ED said its investigation also revealed that from 2019 to 2022, the sale of 'unaccounted illicit' liquor was almost 30-40 per cent of the total liquor sale in the state.
Bangladeshi Prime Minister Sheikh Hasina arrived in New Delhi on Monday on a four-day visit to hold talks with his Indian counterpart Narendra Modi following which the two sides are likely to ink pacts in key areas, including defence, trade and river water sharing.
E-commerce major Amazon on Wednesday said it will acquire Prione Business Services - its joint venture firm with Catamaran, subject to requisite regulatory approvals. Prione Business Services was formed in 2014 and was coming up for renewal on May 19, 2022. In August this year, Amazon and NR Narayana Murthy's Catamaran announced that they will not continue their JV beyond May 2022. The two parties had not disclosed the reason behind the decision.
The government on Monday asked online food business operators like Swiggy and Zomato to submit a proposal within 15 days on improving their consumer grievance redressal mechanism amid rising complaints from customers. The department of consumer affairs directed e-commerce FBOs "to transparently show consumers the breakup of all charges included in the order amount such as delivery charges, packaging charges, taxes, surge pricing etc." According to an official statement, "The Department of Consumer Affairs has directed major e-commerce Food Business Operators (FBOs) to furnish the current framework as well as a proposal on improving the consumer grievance redressal mechanism within 15 days."
'The Chinese navy is large and expanding both in numbers and capability by the day.' 'India too must take measures to safeguard its own interests, now and in the future.'
India and Tajikistan on Monday pledged to further deepen their cooperation to fight terror and agreed to step up defence ties besides boosting trade and investment.
The new bill will now be introduced in the Lok Sabha for passage in the upcoming Winter session of Parliament beginning November 29.
E-commerce giant Amazon and Infosys co-founder N R Narayana Murthy's Catamaran Ventures have "mutually decided" to not continue their joint venture (JV) beyond the end of its current term. The JV, Prione Business Services, which has been running successfully for the past seven years, was coming up for renewal on May 19, 2022. The JV enabled over 300,000 sellers and entrepreneurs to go online. It also enabled 4 million merchants with digital payment capabilities, providing these small and medium-sized businesses (SMBs) and merchants access to millions of customers across the country.
Indian Sellers Collective (ISC), a trade association of micro and small enterprises and family businesses, on Wednesday urged IT veteran NR Narayana Murthy to cooperate in the Competition Commission of India's antitrust probe against Amazon for alleged anti-competitive practices. In 2014, Murthy's Catamaran and Amazon had formed a joint venture, Prione Business Services. On Monday, the partners announced that they have mutually decided not to continue the JV beyond May 2022. ISC thanked Murthy for deciding to end the joint venture with Amazon.
Vice President Hamid Ansari on Tuesday left Lima for the first ever bilateral visit to Cuba by a top Indian leader after a "landmark" tour of Peru during which four agreements were signed.
Bilateral trade issues including promoting tourism and education sectors and allowing Indian mangoes access to the Australian market are expected to be discussed during the eighth India-Australia Joint Ministerial Commission starting
Underlining the need to step up regional co-operation and trade particularly in energy and telecom sectors, India and Australia agreed on Wednesday to work together for the implementation of the Doha Development Agenda.
Federation of Pakistan Chambers of Commerce and Industry President Zubair Ahmed Malik also said that the negative list should also be pruned to boost bilateral trade with India.
S&P Dow Jones Indices on Tuesday said it will remove Adani Ports and Special Economic Zone from its sustainability index following reports of its business ties with Myanmar's military that has been accused of human rights violations after a coup. The Adani Group firm is building a $290 million port in Yangon. In a statement, S&P Dow Jones Indices said: "Adani Ports and Special Economic Zone will be removed from the Dow Jones Sustainability Indices following a media and stakeholder analysis triggered by recent news events pointing to heightened risks to the company regarding their commercial relationship with Myanmar's military, who are alleged to have committed serious human rights abuses under international law."
For many years now, India has given the Commonwealth short shrift so its support for the Commonwealth trade initiative signals a renewed interest in the body.
Sellers, especially the smaller ones, are planning to go to court as well as move CCI as they fear that Walmart could bring multiple private labels in India and flood the e-commerce platform with its own products.
'The cabinet approval is a logical step. It doesn't hold any more significance than what we have already stated on November 19.'
'The BJP has shown signs lately of returning to its trader mindset.' 'Several strong emotions get meshed in this: Nationalism, protectionism, mercantilism, and arrogance,' points out Shekhar Gupta.
India and Japan on Friday sought a peaceful solution to the territorial disputes in the strategic South China Sea, saying parties involved in the matter must not resort to "threat or use of force", in remarks that could anger China which is opposed to any outside interference.
The development came a day after the protesting farmers rejected the Centre's offer to start talks as soon as they move to Burari and continued to stay put Singhu and Tikri borders of the national capital.
If the Modi government is to keep its promise of change, it must bring in fresh faces.
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