"So you will not have anything better... democracy loving, capitalist respecting environment... in India," Sitharaman said at the event hosted by the Federation of Indian Chambers of Commerce and Industry in association with the US India Strategic and Partnership Forum.
To address the supply crunch, CII has suggested leveraging the existing excess capacity in the Indian industry; rolling back import duty hike to look for alternative sources of imports; expanding credit to manufacturing units with quick loan sanctions, and one-time emergency waiver of non-performing asset regulations for three months.
Centre could experiment in setting up education parks in the country like in IT sector and workout to provide special incentives to those setting up the parks, National Knowledge Commission chairman Sam G Pitroda said. He said government could experiment in establishing education parks so that it can work out strategies to enhance quality of education.
By May this year, awards in highways projects will swell to Rs 2 lakh crore from Rs 1.6 lakh crore now
Chinese mobile brands are deeply entrenched in the Indian market. A move to bar them may send a bold diplomatic message. But its cost for the local industry is anybody's guess. In the event that Chinese brands face curbs, two handset makers - Samsung and Apple - squarely stand to gain.
The Centre, in a stimulus package on December 7, provided an interest subvention of two per cent up to March 2009 for pre and post-shipment export credit for labour-intensive exports (textiles, leather, marine products) and SME sector.
The Directorate General of Foreign trade on Friday issued an order banning toy imports from China, which is India's biggest trade partner, for six months. The notification, however, gave no reason for the ban.
In a major reform push, government on Thursday approved 100 per cent foreign direct investment (FDI) in the telecom sector, meeting a key demand of the fund-starved industry.
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
Prime Minister Manmohan Singh on Tuesday held discussions with Commerce and Industry Minister Kamal Nath and is believed to have reviewed the Satyam issue, a day after the minister came out in support of extending financial help to the beleaguered IT firm.
The other sectors where inflows have declined include pharmaceuticals ( $680 million).
Import segments which recorded negative growth include gold, silver, transport equipment, coal, fertiliser, machinery and machine tools. However, exports of oil seeds, coffee, rice, tobacco, spices, pharma, and chemicals reported positive growth in June.
The finance ministry on Wednesday ruled out more than 26 per cent foreign direct investment in pension sector and said fund managers would be selected through a competitive bidding process.
In dollar terms, exports declined by 33.3 per cent over March 2008, the largest monthly decline yet. For the year as a whole, exports came in at $168.7 billion, significantly short of the original target of $200 billion and also below the revised range of $170-175 billion.
Rajiv Kumar will continue as vice-chairman of the body, along with other full-time members V K Saraswat, Ramesh Chand and V K Paul.
The country's largest real estate player, DLF, on Friday said it has approached the government for surrendering four of its IT-ITeS notified special economic zones (SEZ).
From a balance of payments perspective, however, the continuing decline in exports is not particularly threatening, because imports have been declining even faster than exports.
US-based coffee retail chain Starbucks on Friday said it was withdrawing its application to operate single-brand retail stores in India, thus delaying its entry into the country.
The approvals would be handled independently by administrative ministries of different sectors.
The Reserve Bank of India is expected to hold interest rate at 8 per cent in its fifth bi-monthly monetary policy review on Tuesday.
DIPP seeks automatic approval, has Plan panel and DEA's support.
Developing more sources of supplies to guard against disruptions may emerge as the next big trend. But that may not necessarily mean flow of more investments into India, unless investors are assured, besides important economic factors and impartiality of institutions, that social disharmony will not cause unexpected disruptions.
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Exports picked up to post a growth of nearly 13 per cent.
Developers had been urging dual usage of their SEZ land since the beginning of global financial recession in 2008.
India's software exports suffered a severe setback in March declining by 96.6 per cent to $1 million from the year-ago period due to recession in world's major economies like the US and the Europe.
The apex court also restrained e-commerce websites like Flipkart and Amazon from selling firecrackers which are beyond the permissible limit.
The US is the largest consumer of gems and jewellery in the world contributing nearly 40 per cent of global production. If India can tap the opportunity, its overall exports to the US could jump by 10 per cent to $ 11 billion this year.
Dismal performance by electricity, crude petroleum, coal and cement sectors pulled down the growth in infrastructure to just 2.6 per cent last month compared to a robust 10.2 per cent in July 2002.
Goyal was to visit Beijing from August 2 to 3 to take part in the RCEP Intersessional Ministerial meet.
Non-performers were not punished, performers were not rewarded, points out Utkarsh Mishra.
India is all set to train a large number of cotton traders from African countries from Tuesday.
Hong Kong-headquartered Growth-Link Overseas has announced it would invest Rs 300 crore to build a manufacturing facility for Nike footwear at Cheyyar, near Kancheepuram in Tamil Nadu.
Gold imports surged by nearly four-fold to $4.17 billion in October to meet the festival season demand.
The exercise is aimed at finalising India's position for a free trade agreement with BIMSTEC nations.
The decision regarding this was taken by the Board of Approval in its meeting on September 18.
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