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.
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.
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.
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 other sectors where inflows have declined include pharmaceuticals ( $680 million).
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.
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 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.
The approvals would be handled independently by administrative ministries of different sectors.
Goyal was to visit Beijing from August 2 to 3 to take part in the RCEP Intersessional Ministerial meet.
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.
India's exports are showing signs of improvement as the contraction in outbound shipments in June so far has come down to about 10-12 per cent as compared with 60 per cent in April, Commerce and Industry Minister Piyush Goyal said on Monday. Declining for the third straight month, In "Currently we are about 10-12 per cent down in June. So in a sense, we have reached up to 88-90 per cent of the level of exports that we had in June 2019 in the current month in the first two weeks. I am awaiting the data for third week (of June)," Goyal said at a CII function.
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.
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).
The apex court also restrained e-commerce websites like Flipkart and Amazon from selling firecrackers which are beyond the permissible limit.
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 Reserve Bank of India is expected to hold interest rate at 8 per cent in its fifth bi-monthly monetary policy review on Tuesday.
AIFF plans to go ahead with the 2020-21 I-League season even if the clubs' star foreign recruits are unable to make it due to the coronavirus-forced travel restrictions.
Non-performers were not punished, performers were not rewarded, points out Utkarsh Mishra.
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Exports picked up to post a growth of nearly 13 per cent.
DIPP seeks automatic approval, has Plan panel and DEA's support.
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.
'If the mandis were not working in Delhi, or the onion market in Nashik got affected, or there were disruptions because of unloading or loading in any sector in south India, we intervened.'
'It has been a phenomenal effort at all levels of the government.' 'People were working 15-16 hour shifts in the central government, in the state governments, in the districts....'
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.
Gold imports surged by nearly four-fold to $4.17 billion in October to meet the festival season demand.
Kerala's Tirur betel leaf, Tawlhlohpuan and Mizo Puanchei from Mizoram, and Palani Panchamirtham, a temple 'prasadam' from Tamil Nadu have been awarded Geographical Indication tag.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
India is all set to train a large number of cotton traders from African countries from Tuesday.
With states in north India imposing stricter measures to curb intra-state movement after April 20, makers of summer products such as air conditioners, refrigerators, colas, and ice creams are estimating a 25-60 per cent drop in yearly sales.
The decision regarding this was taken by the Board of Approval in its meeting on September 18.
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.
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