The Ministry of Company Affairs (MCA) has sent notices to all Indian Premier League franchisees, both old and new, asking them to furnish detailed company-related information.
Exports rise for 8th month, albeit at lower pace
The eight core industries -- fertilisers, cement, steel, electricity, crude oil, coal, petroleum refinery products and natural gas -- have a combined weight of about 38 per cent in the Index of Industrial Production.
The Swadeshi Jagaran Manch has pointed out that these firms pose a threat to domestic manufacturing and retailing as they do not pay relevant taxes such as GST, giving them a huge edge over local players.
India on Tuesday mooted a marketing policy for the sector though domestic players opposed any move to allow overseas investments in the retail space.
Export oriented units have approached the finance ministry for abolishing "sunset clause" in the Income Tax Act to get tax exemptions beyond March 2009, so as to attract more investments and maintain their competitiveness globally.
Notwithstanding the widespread protest against the proliferation of special economic zones in the country, the Ministry of Commerce and Industry is organising a seminar on the tax-free conclaves in Singapore on Wednesday in order to rope in global investors.
Modi will have limited choice other than stressing upon a request for more time to decide on tariff rates, especially with elections in 2019.
The commerce and industry ministry has fixed a tentative export target of $104 billion for the next fiscal, against a target of $92 billion for the current fiscal.
The growth of eight core sectors slowed down to 2.6 per cent in August mainly due to contraction in steel output.
The government is considering to tweak FDI policy in retail sector so as to allow global chains like Walmart, Carrefour and Tesco to open multi-brand stores in non-hilly cities with population less than one million.
To ease the flow of foreign direct investment into real estate, the government is mulling a proposal that mixed development projects should be exempt from the minimum capitalisation and area development norms.
A Priority Foreign Country is a status reserved for those nations that are the most egregious violators of intellectual property rights and have the most negative impact on US competitiveness abroad.
After rising in September, Foreign Direct Investment (FDI) inflows in the country dipped by about 40 per cent to $1.4 billion in October over the same period last year.
The Gems & Jewellery Export Promotion Council (GJEPC), the apex body set up by the Union ministry of commerce to monitor the jewellery business overseas, says it might call for pulling out of the diamond cutting and polishing business in China.
The government on Tuesday announced incentives worth Rs 450-500 crore (Rs 4-5 bllion) for exporters encouraging them to aggressively market products in China and Japan and build on the recovery witnessed since November last year.
The country's textile industry is concentrated in a few pockets of Gujarat and Maharashtra in the west and Tamil Nadu and Karnataka in the south.
The Board of approval in the commerce ministry took these decisions along with approving two fresh proposals of Shyam Steel Industries and Limitless Properties in West Bengal and Tamil Nadu, respectively. The BoA also ratified extension of time to 23 developers, including Satyam Computer Services, for implementing tax-free enclaves in the wake of economic slowdown.
Although the country's leading gems and jewellery traders, dealers and exporters are ready to grab a significant portion of the $25-billion market, key changes are required in the country's Income Tax Act and Customs Act.
Lakhs of jobs are at stake.
The government is working towards setting up an international diamond trading centre in the country and is keen to encourage investment by Indians in diamond mines abroad, Union Minister of Commerce and Industry Kamal Nath said on Tuesday.
The product was banned for export earlier, but has now been moved to the restricted category, under which an exporter would have to seek a licence from the government for shipments.
Will consider extending full support after reviewing the situation, says Sharma.
A limited number of activities will remain prohibited across the country, irrespective of the zone, including travel by air, rail, metro and inter-state movement by road, running of schools, colleges, and other educational and training/coaching institutions.
There is talk of a fresh approach to a new labour code as well as reforming land acquisition laws in such a way as to be politically.
Total outflow and inflow of foreign investment in general for 2014-15 fiscal was $6.42 bn and $75.71 bn, respectively
A high-level inter-ministerial task force wants the business of narcotics to be simplified, something which, it said, would be an opportunity for the over $17-billion Indian pharmaceutical industry.
The government on Thursday launched a Grievances Redress Cell for exporters and importers in a bid to improve the of the directorate general of foreign trade.
The new Special Economic Zones, including the Reliance Industries' Jamnagar refinery, would help increase India's SEZ exports by 40 per cent this fiscal, righting partially the dismal picture of the country's total exports, according to government estimates.
The Doha negotiations has been virtually stalled since July 2008.
