Three years and Rs 28,710 crore worth of transactions later, it has more than double the number of sellers than Flipkart.
The wholesale price index (WPI)-based inflation rose in December at 0.73 per cent mainly due to a sharp rise in food prices. The WPI inflation was in the negative zone from April to October and had turned positive in November at 0.26 per cent.
Indian Railways has managed to improve its freight volumes each year since the pandemic. However, its inability to add new industries and goods will pose a challenge for the national transporter in the wake of it setting an ambitious target of 45 per cent share in the national logistics by 2030. According to officials, the ministry of railways achieved 114 million tonnes (mt) of miscellaneous goods (classified as balance and other goods) in 2023-24.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
From the rollback of customs duty on key electronic components to fast tracking delivery of goods imported from China, players are looking for incentives on several counts.
As Chandigarh braces for a fierce contest between Congress candidate Manish Tewari and the BJP's Sanjay Tandon, its industry leaders harbour a fervent wish: Replicate the success of the National Capital Region model in this Union Territory.
The commerce ministry has recommended the continuation of anti-dumping duty on a Chinese chemical used in food and pharma industry with a view to guard domestic players from cheap imports. In a notification, the ministry's investigation arm, the Directorate General of Trade Remedies (DGTR), has said there is a "positive" evidence of likelihood of dumping of Sodium Citrate and injury to the domestic industry if the existing anti-dumping duty were to be removed.
Work on a dozen decisions to start by next week.
Wholesale inflation in the country rose marginally to 0.53 per cent in March compared to 0.20 per cent in the preceding month due to increase in prices of vegetables, potato, onion and crude oil. The Wholesale Price Index (WPI)-based inflation was in the negative zone from April to October and had turned positive in November at 0.26 per cent. The inflation in March 2023 was 1.41 per cent.
Barring coal, electricity and steel, all sectors -- crude oil, natural gas, refinery products, fertiliser and cement -- recorded negative growth in September 2020.
After 100% FDI, DIPP has put a condition an e-commerce entity will not be permitted more than 25% of sales through its marketplace from one vendor or their group companies
Even as the government today gave Saurabh Chandra, secretary, department of industrial policy and promotion (DIPP), the additional charge of secretary, Department of Commerce, Dinesh Kumar Mittal has emerged as the front runner for the post.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
The production growth of eight key infrastructure sectors slowed to a six-month low of 7.8 per cent in November due to a decline in the output of crude oil and cement sectors. The growth rate in the production of coal, fertiliser, steel, and electricity also decreased during November this year. According to the data released by the government on Friday, the growth during the month under review, however, is higher than the 5.7 per cent recorded a year ago.
Growth of eight key infrastructure sectors rose to 8 per cent in July 2023 compared to 4.8 per cent in the same month last year on expansion in production of coal, crude oil, and natural gas, according to the official data released on Thursday. Production of steel, cement and electricity also grew in July, the data showed.
India granted 1.03 lakh patents in financial year 2023-24, Controller General of Patents, Designs and Trademarks Unnat Pandit said on Thursday, as he assured that there will be "no delay" in the Intellectual Property Office as it prioritises timely clearance of applications. Addressing an Assocham event here, he shared that 40 per cent of the applications were disposed of within 30 months of the request for examination. "We are going to have no delay in the IP office, that's the motive with which we have .. that IP should be granted and under Chapter 8 of the Act it should also be utilised by the applicant ... that will generate the economic value of IP," Pandit said.
Wholesale inflation rate declined marginally to 0.2 per cent in February compared to 0.27 per cent in the preceding month despite a slight uptick in the food basket. The Wholesale Price Index (WPI)-based inflation was in the negative zone from April to October and had turned positive in November at 0.26 per cent. The inflation in February 2023 was 3.85 per cent.
The output of eight core infrastructure sectors contracted for the third month in a row by 1.3 per cent in December 2020, dragged down by poor show by crude oil, natural gas, refinery products, fertiliser, steel and cement sectors. The core sectors had expanded by 3.1 per cent in December 2019, according to the provisional data released by the Commerce and Industry Ministry on Friday. Barring coal and electricity, all sectors recorded negative growth in December 2020. During April-December 2020-21, the sectors' output declined by 10.1 per cent against a growth rate of 0.6 per cent in the same period of the previous year.
Barring coal and fertiliser, all sectors -- crude oil, natural gas, refinery products, steel, cement and electricity -- recorded negative growth in August.
Floats discussion paper for stakeholders' feedback with a deadline of January 28.
The new Consolidated Foreign Direct Investment Policy, effective from April 1, limits FDI in defence units to 26 per cent. But the Department of Industrial Policy & Promotion of the commerce ministry is in favour of raising this limit.
It is possible to be blind to this and pretend to carry on as if nothing has happened but that will not change the reality, asserts Aakar Patel.
India's gold imports, which have a bearing on the country's current account deficit (CAD), increased 26.7 per cent to $35.95 billion during the April-December of this fiscal due to healthy demand, according to government data. The imports stood at $28.4 billion during the same period a year ago. In December 2023, imports of the precious metal jumped by 156.5 per cent to $3 billion, as per the data released by the commerce ministry.
The wholesale price index-based inflation remained in the negative territory for the seventh straight month in October at (-) 0.52 per cent, on easing prices of food items. The WPI-based inflation rate has been in the negative zone since April and was at (-) 0.26 per cent in September, 2023. In October last year, WPI was at 8.67 per cent.
The decision came a day after the resignation of Telugu Desam Party's Ashok Gajapathi Raju was accepted by President Ram Nath Kovind
Industry body to write to commerce ministry, seek regulation for e-tailers.
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
Contracting for the ninth consecutive month, the output of eight core infrastructure sectors dropped by 2.6 per cent in November, mainly due to decline in production of natural gas, refinery products, steel and cement. The production of eight core sectors had recorded a growth of 0.7 per cent in November 2019, data released by the commerce and industry ministry showed on Thursday. Barring coal, fertiliser and electricity, all sectors -- crude oil, natural gas, refinery products, steel and cement -- recorded negative growth in November 2020.
Barring fertiliser, all seven sectors -- coal, crude oil, natural gas, refinery products, steel, cement and electricity -- recorded negative growth in July.
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Government seeks stakeholders' comments by Jan 30 on discussion paper.
The wholesale price index-based inflation remained in the negative territory for the sixth straight month in September at (-)0.26 per cent, on easing prices of food articles. The WPI-based inflation rate has been in the negative since April and was (-)0.52 per cent in August. In September last year, it was 10.55 per cent.
The chamber has sought clarity from government to remove uncertainty among businesses
Among other things, taking note of complaints against several Chinese e-commerce players such as Shein, Ali Express etc for sending shipments as 'gifts' to customers in India and avoiding duties, the government has now mandated that all e-commerce sites and apps must have a registered business entity. This will be the importer on record and subject to customs rules, report Subhayan Chakraborty, Neha Alawadhi and Karan Choudhury.
The wholesale price index (WPI)-based inflation eased in January to 0.27 per cent, mainly due to moderation in prices of food items. WPI inflation was at 0.73 per cent in December 2023. The WPI inflation was in the negative zone from April to October and had turned positive in November at 0.39 per cent.
Eyeing $9 billion business opportunity in booming e-commerce business, India Post, which has the biggest network and serves the last mile, is boosting its infrastructure for real-time tracking of parcels through satellites using a new technology.
The new scheme, promoting manufacturing of electric vehicles (EVs) by global majors, will give a fillip to companies like Tesla and its upstart rival Vinfast, both of whom have lobbied for lower import duties from the Centre. While Vinfast has already announced an investment of Rs 4,000 crore to set up an electric vehicle (EV) plant in Tamil Nadu, Tesla's next move will be watched carefully. Four years ago, Musk announced that his company would come to India.
With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar.
In order to counter the growing penetration of e-commerce portals, the ICT industry in Gujarat is also mulling initiation of its own portal for selling products.
Representatives from four states including Maharashtra and Karnataka will also be members of the panel.
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