Amazon CEO Jeff Bezos is in India this week and is expected to meet top government functionaries, business leaders and SMBs.
You may no longer have to rely on international size charts.
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.
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.
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.
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.
The reading for March WPI inflation was revised to 6% from 5.7% earlier.
Ease of doing business will improve in India with the Industry Ministry planning one stop e-biz portal which can be approached by entrepreneurs for seeking clearances - both central and state.
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.
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.
After visits to the US and Europe, a power ministry delegation is headed for Japan, Singapore and Malaysia for conducting roadshows to attract foreign investors in the country's power sector.
Engineering exports grew by 61 per cent to $38.80 billion during the April-December period this fiscal from $24.08 billion in the same period last year.
India could allow global online retailers such as Amazon.com Inc to sell their own products as early as next month, removing restrictions that could boost competition in one of the world's biggest, and most price-sensitive, retail markets.
Apart from cotton, copper, petroleum and industrial machinery, India does not export much to China. This means that India buys six times the merchandise it sells to China, points out Abhishek Waghmare.
Cap in single-brand retail likely to be 74%.
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.
'India has an advantage because we produce more cotton and we have more workforce.'
India has emerged as the second largest manufacturer of cement in the world, according to a latest report released by the Ministry of Commerce and Industry.
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.
The Indian government has approved the visit of a Pakistani business delegation to India, which is meant to revive economic ties between the two countries and provide an impetus to diplomacy.
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After a high-level meeting held on Friday chaired by Prime Minister Manmohan Singh, it has been decided that the Commerce and Industry would soon start a consultation process to address 'dangers inherent' in the current model of FDI in brownfield pharma units.
The inflow in December 2008 is lower compared to $1.55 billion FDI the country received in the same month in the previous fiscal. The country has set a target of $35 billion for FDI in the current fiscal.
The value of India's foodgrain imports increased by over 28 times to Rs 17.66 crore (Rs 176.6 million) in April, vis-a-vis the corresponding period a year ago, as per the latest data from the commerce ministry.
Sectors that attracted maximum FDI include services, trading, automobile and power.
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.
After rallying 543 points in the morning session and touching the 40,000-mark, the BSE Sensex surrendered all gains to close at 38,628.29, showing a loss of 839.02 points or 2.13 per cent. Similarly, the NSE Nifty tanked 260.10 points or 2.23 per cent to end at 11,387.50.
The developers, including Raheja Ltd, Ascendas, L&T and GMR, among others, are in the Ministry of Commerce and Industry's Export Promotion Council for export oriented units and special economic zones.
Natural gas and fertiliser output recorded a negative growth of 1.7 per cent and 1 per cent, according to the data of the Commerce and Industry Ministry.
Scrapping of the EoU status to petroleum refineries was one of the demands of the Samajwadi Party after it decided to support the United Progressive Alliance government, which is set to face a trust motion in the Lok Sabha. "Amar Singh had met me, but there were no discussions on the EoU issue," said the commerce minister. Nath said everyone has the right to demand changes but it did not mean that the government would act on it.
Falling sugar production in the European countries would provide an excellent opportunity for Indian sugar exports to the European Union market, says a top government official.
Praise came from one Arun toanother when the new Commerce and Industry Minister Arun Jaitley said that Divestment Minister Arun Shourie was doing exceedingly well.
In a major liberalisation, the government on Thursday allowed manufacturing of several hundreds of equipment and products in the defence sector without licence.
During April-May, growth in the eight core industries slowed to 3.3 per cent as against 4.9 per cent in the year-ago period.
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.
In a move that is being seen as a snub to Walmart, Commerce and Industry Minister Anand Sharma on Thursday cancelled a meeting with US retail giant's Asia head Scott Price.
Dharmendra Pradhan, Mukhtar Abbas Naqvi, Nirmala Sitharaman and Piyush Goyal have been elevated to Cabinet ministers.
