The Department of Industrial Policy and Promotion (DIPP), the nodal department that handles intellectual property rights (IPR) related matters under the commerce ministry, is launching an ambitious Rs 300-crore (Rs 3 billion) project to sensitise all stakeholders, including law enforcement agencies, scientists, companies, ministries and the general public on IPR issues.
IT sector has lots of hope from the Union Budget 2014-15.
With a comprehensive SEZ Act in place, the Union Commerce and Industry minister Kamal Nath said his ministry would go ahead with the plans to develop SEZs across the country, despite oppositions from the finance ministry.
India will export anti-malarial drug hydroxychloroquine, high in demand globally, only to foreign governments and not to private companies, as the product is under prohibited or banned category of exports, sources said. Although exports of this medicine is completely banned, India has decided to export this anti-malarial drug in sync with its global commitment to deal with the coronavirus pandemic.
The Election Commission (EC) has raised certain questions on the government's proposal to allow foreign direct investment (FDI) in the construction and maintenance segments of the railways.
The government needs to make the right policies and further execute them properly if it wants to move towards this goal
Foreign direct investment inflows into India rose an annual 12.9 percent in July to $1.66 billion.
"We have close to about 175 press notes circulating... the Industry Ministry has taken a decision to put all of these together in a booklet so that the FDI rules become much simpler for a foreign investor."
Around 55 per cent of land in the 36 operational special economic zones (SEZs) in Tamil Nadu is lying vacant owing to various reasons, including the recent economic slowdown.
India is keen to improve share of services in global trade.
For the April-February period, exports were up 4.79 per cent to $282.7 billion, according to data released by the Ministry of Commerce and Industry on Tuesday.
Since no communication has been received from the Goan govt. on the cancellation of SEZs, the issue remains unresolved.
The expansion in September is highest since April, when the core sectors' growth stood at 2.6 per cent.
As per the procedure of World Trade Organisation, consultation is the first stage of a complaint filed with the global trade body.
The government is expected to take a decision tomorrow on the issue of allowing foreign airlines to buy up to 49 per cent stake in cash-starved Indian carriers.
Fertiliser production dropped sharply by 11.5 per cent, crude oil by 5 per cent and natural gas by 0.9 per cent in October over the year-ago month
The officials also said that the ministry of commerce and industry had recommended the Maharashtra government to take back the land acquisition notification that it had issued. The zone has been given in-principle approval by the BoA, as RIL is yet to acquire the requisite land.
Commerce and Industry Minister Suresh Prabhu is slated to meet senior executives of Apple on the sidelines of the World Economic Forum in Davos later this month.
The youth have to turn into entrepreneurs if India's massive demographic dividend is to be taken advantage of: Smriti Irani.
Talks are also on with YES Bank for three other zones, in which the ministry hopes to attract private investment.
Sitharaman said that Indian startups have made and are making big contribution to the defence industry both in India and abroad.
India has offered African countries --Botswana, Angola, South Africa and Namibia, incentives to strengthen their jewellery industry in return for direct procurement of rough diamonds from these countries.
The Department of Industrial Policy and Promotion in the Commerce Ministry proposes to scale back the Foreign Direct Investment ceiling for the tobacco industry from 100 to 74 per cent and insert a caveat that cigarettes manufactured in the new ventures or in upgraded facilities must be mainly for consumption outside India.Sources said the department, which is responsible for the policy on FDI, is finalising a cabinet note aimed at comprehensive review of the tobacco policy.
Exports are slowing and economic growth in major markets for Indian goods has taken a hit.
Goa has scrapped 12 SEZs, including the seven, which were approved by the state government. But the government is struggling over denotification of three industrial enclaves, which has now rushed to the High Court against government's intention to scrap them.
Requirements on minimum size, contiguity and vacant stretches to be eased; MAT and DDT to stay
Decline 10 per cent, imports down five per cent, confirming sluggishness in domestic economy.
The government is believed to be working on a strategy to resolve the matter related to Wednesday's Supreme Court order asking Samsung Electronics Chairman Lee Kun-hee to appear within six weeks before the Ghaziabad trial court in a pending payment case.
In July 2011, the country had received foreign investment worth $1.10 billion.
The Bangladeshi prime minister said that India's sudden decision to stop onion exports has led to a bit of difficulty for her countrymen.
'If you allow Walmart to operate in India, our manufacturing will finish completely.' 'What will happen to Narendra D Modi's dream then? There will be no Make in India.'
Lahore High Court Chief Justice Sheikh Azmat Saeed on Friday directed the Commerce Ministry and Film Censor Board to file their replies to the petition filed by film producer Kamran Ijaz.
Adani, Reliance Industries, DLF, Omaxe and Singapore-based Ascendas Group had plans to set up mega multi-product SEZs, with some of them having infrastructure like ports and air-cargo complexes.
In October 2015, the sectors had witnessed a growth of 3.2 per cent.
"At the moment, the fall is arrested (and it) is very clear. The growth is happening. We will only be looking at the steady growth. It may be slow but steady," Commerce Minister Nirmala Sitharaman told reporters in New Delhi.
Currently, India imposes 30-45 per cent duty on textile products from Pakistan.
The long awaited-resumption of border trade between India and China through the Nathu La pass in Sikkim has been finally set for June 30.
Anand Sharma, who took charge of the nodal ministry for FDI on May 29, said there is no need for a relook at the policy amended in February by the Department of Industrial Policy and Promotion. While the policy does not allow overseas inflow into this sector, the changes in February were perceived to be opening the sector to FDI up to 49 per cent in an Indian firm that has a downstream subsidiary firm in retailing.
The export project, an initiative of the ministry of commerce and industry, was spearheaded by Rajya Sabha MP and Dhangar community leader Dr Vikas Mahatme. It was aimed at increasing the income of farmers and open new avenues of self-employment.
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