Demand will boom in the US and China, but exporters say it will be difficult for India to tap these markets.
The queries can now be addressed to and their responses accessed from the makeinindia.com website that was unveiled along with the campaign aimed at making India a manufacturing hub by Modi at a mega event in New Delhi on Thursday.
Shinzo Abe is planning to come to Guwahati for annual summit talks with his Modi from December 15-17.
The exponential number of downloads can be attributed to a call by Prime Minister Narendra Modi, asking people to have the app on their mobiles, combined with the government's push for downloading of the app through other channels, reports Neha Alawadhi.
India has booming trade with many countries across the world.
A stern articulator with outspoken views and a dignified personality, Sitharaman now bears the responsibility of steering the economy which has witnessed sluggish growth in recent quarters.
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
Deficit is likely to touch $60 bn this financial year from $40 bn in the previous one.
In the third reshuffle since coming to power, Prime Minister Modi raised the strength of his Council of Ministers from 73 to 76.
Registering a jump of 10 places in the rankings, Uttar Pradesh occupied the second position in 2019 as against 12th in 2018.
The formation of the Indian Business Leaders Forum was announced on Sunday by India Trade & Exhibition Centre Middle East established in Sharjah with the mandate from the Indian Ministry of Commerce and Sharjah Chamber of Commerce and Industry.
A closer look at the data reveals that a lot of the items are not part of this calculation. The notable ones include buffalo meat, marine exports, raw cotton, and plantation crops such as tea, coffee, rubber, etc.
Idea is to bring stakeholders together and explore ways to increase export of services from India.
Top gainers in the Sensex pack included Sun Pharma, IndusInd Bank, RIL, ITC, Vedanta, Asian Paints, HDFC and Infosys, advancing up to 3.02 per cent.
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Single-brand retailers are also allowed to take e-commerce route for such trading.
An undeterred Chief Executive Officer of NSO Group, Shalev Hulio, in an interview to Israeli Channel 12 on Saturday, strongly defended the company's operations, though he also conceded that some 'mistakes' may have happened over the years.
These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
While the directorate general of foreign trade has completed consultations with the industry and exporters, it will start interacting with the different ministries like agriculture, finance, micro, small and medium Enterprises, steel and environment. Revenue department in the finance ministry holds the key for extending benefits to exporters who are facing the brunt of recession in several major economies.
The government decision to permit 100 per cent foreign direct investment in medical devices will take effect from January 21, the Commerce and Industry Ministry said on Tuesday.
As India looks to mend its Covid-battered economy, one thing that will grab the attention of all concerned is the path that both wholesale and retail inflation will follow. Even the Reserve Bank of India in its latest policy statement said, "Going forward, the inflation trajectory is likely to be shaped by uncertainties impinging on the upside and the downside.
A group of ministers, headed by Agriculture Minister Sharad Pawar, has been formed to resolve inter-ministerial differences stalling the national manufacturing policy which aims at giving a boost to the sector.
The retail inflation rate breached the 6 per cent upper tolerance limit of the RBI for the first time in seven months in January, while the wholesale price index stayed in double-digits for the 10th month in a row, showed two sets of data released by the government on Monday. Retail inflation, the key input for the RBI while reviewing the repo rate every two months, soared during the month mainly because of a spike in certain food items. The previous high for retail inflation was 6.26 per cent in June 2021.
The commerce and industry ministry is not in favour of allowing foreign airlines to buy stake in Indian carriers on the ground that the sector is sensitive.
Overall, cumulative direct investment from China stood at just $2.05 billion till June 2018, according to consolidated DIPP figures
Amazon CEO Jeff Bezos is in India this week and is expected to meet top government functionaries, business leaders and SMBs.
The farm sector's contribution to Indian economy is just around 20 per cent and rural India is in a shambles.
A committee of secretaries will be meeting soon to consider a draft proposal, which suggests that decision-making on all policy issues pertaining to FDI be transferred from the Department of Industrial Policy & Promotion (DIPP) in the Ministry of Commerce to the Department of Economic Affairs (DEA) in the Ministry of Finance.
The commerce and industry ministry is in talks with state governments to prepare guidelines for setting up local governance bodies inside these tax-free industrial enclaves. Sources said these bodies may either be modelled on the lines of townships developed by state industrial development authorities like the New Okhla Industrial Development Authority (Noida) in Uttar Pradesh, or follow a Jamshedpur-like model, where a corporate house takes care of civic infrastructure.
The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
To further boost bilateral economic ties with the US, Confederation of Indian Industry would organise a series of road shows, 'IndiaConnect-USA', from April 8-18.
The finance minister is ready to present a second financial package. The Centre has ruled out a mega stimulus and will rely on targeted, incremental packages. Industry is clamouring for a bailout, the liquidity upheaval in capital markets is nowhere close to being sorted out, and all budgetary forecasts now stand irrelevant, reports Arup Roychoudhury.
You may no longer have to rely on international size charts.
The Indian government has asked the cement industry to concentrate on modernisation and upgradation of technology, optimisation of operations and increased application of automation and information technology.
Among the current FTAs with significant trade deficits for India, five are with countries from the 10-nation Asean bloc. Exports to the 10 economies stood at $ 37.4 billion in 2018-19, up by 9% year on year. On the other hand, imports were higher at $ 59.31 billion, up by 25% from the previous year's $ 47.13 billion.
It is only for retail trading of goods that sourcing conditions are mandated. Such norms are not applicable to manufacturers as goods are produced in India, the government said.
Coming out strongly in defence of foreign direct investment in retail, the ministry of commerce and industry has told the Prime Minister's Office that there is no empirical evidence to suggest that organised retail would adversely impact small retail
Prime Minister Narendra Modi on Saturday hard sold his government's reforms spanning from manufacturing to taxation to labour, saying they have changed the world perception about the country from 'why India' to 'why not India' and went on to quote record foreign investment during the pandemic as a testimony to that. Speaking at industry association Assocham's Foundation Week event, Modi also said agriculture reforms brought by his government six months back have started benefiting farmers. The reforms in the last six years have influenced in changing the sentiment of the industry from 'why India' to 'why not India' in investing.
The reading for March WPI inflation was revised to 6% from 5.7% earlier.
