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.
'India has an advantage because we produce more cotton and we have more workforce.'
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.
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.
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.
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.
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.
Cap in single-brand retail likely to be 74%.
Sectors that attracted maximum FDI include services, trading, automobile and power.
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.
In a bid to curb harassment of taxpayers, Sitharaman said, a faceless e-assessment scheme was launched in October to eliminate interface between an assessing officer and a taxpayer.
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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.
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.
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.
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.
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.
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 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.
In a major liberalisation, the government on Thursday allowed manufacturing of several hundreds of equipment and products in the defence sector without licence.
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.
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.
Dharmendra Pradhan, Mukhtar Abbas Naqvi, Nirmala Sitharaman and Piyush Goyal have been elevated to Cabinet ministers.
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 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.
'As much as $4 billion in India's start-up companies has come from Chinese funds.' 'Government policy must not remain indifferent to the problems India's start-up ventures are likely to face after the change in FDI rules,' says A K Bhattacharya.
The meeting, which would have representation from the ministries of finance, external affairs and micro and small and medium enterprises, would suggest steps to prepare the way for the annual supplement to the Foreign Trade Policy (2009-2014), expected to be unveiled in April.
Two years ago, India was touted as a rare bright spot in a gloomy global economy with GDP growth outpacing a slowing China.
The industry department had planned to get 10,000 price quotations from producers in order to have a new-look WPI, which incorporates a better snapshot of the economy. Out of this, 8,000 products are manufactured items. However, it now emerges that the DIPP may get price quotations from only 6,400 industrial units and factories.
Scores of leading SEZ promoters, including Infosys Technologies, CMC Ltd, Hindalco Industries, NIIT Technologies, HCL Technologies, Orient Craft Infrastructure, L&T Phoenix Infoparks and K Raheja Corp, have sought more time from the Board of Approval, which is meeting in New Delhi on June 2.
The industry body has issued two advisories in an attempt to restore jewellers credibility in the wake of the Rs 12,000-crore PNB-Nirav Modi scam, and recent defaults by two domestic jewellers - Goodwin and Rasiklal.
According to industry experts, there are more than 10,000 drug manufacturers in the country and most of them are small-sector units operating in the generic segment. With a large number of drugs going off-patent in developed markets like the US and Europe, Indian companies are expected to garner a lion's share in the segment.
Among all the geographies where Amazon is fighting regulators, India is the only place where its lines are also tangled in a major corporate battle, this one with India's largest company by market capitalisation over the acquisition of Mumbai-based Future Group's retail chain, the country's second largest. No other corporate entity in any country offers a challenge to Amazon's hegemony in a way Reliance Industries does - and the final hearing of an arbitration case filed at the Singapore International Arbitration Centre between the two may decide at least some of these issues. This legal battle between one of the world's most powerful corporations and one of India's most powerful conglomerates could be complicated by a host of other developments.
IIP is expected to post a subdued volume growth in February 2017
With Tamil Nadu witnessing a sharp increase in the covid-19 cases, the government on Saturday announced clamping a two-week 'total lockdown' across the state to curb the spread of the pandemic.
Earlier govt said it won't allow it to sell items such as textile products and office supplies.
