According to data released by the commerce and industry ministry, exports stood at $25.01 billion in the month. The fall is only the second time exports contracted in the past year.
At the heart of the issue is the way e-commerce is defined in the current draft policy.
In the national capital, onion prices were ruling at around Rs 40 per kilogram.
This will boost availability of these items as well as make them cheaper, it said, adding that Modi also directed the revenue department to ensure seamless and quick custom clearance of such equipment.
The output of eight core infrastructure sectors grew marginally by 0.1 per cent in January, mainly due to growth in the production of fertiliser, steel and electricity. The core sectors had expanded by 2.2 per cent in January 2020, according to the provisional data released by the commerce and industry ministry on Friday. Coal, crude oil, natural gas, refinery products, and cement recorded negative growth in January.
Gold imports, which have a bearing on the current account deficit (CAD), plunged 57 per cent to USD 6.8 billion (around Rs 50,658 crore) during the first half of this fiscal amid a slump in demand due to the Covid-19 pandemic, showed data by the commerce ministry.
Former Congress MLA from Barnala, Kewal Dhillon, and former Shiormani Akali Dal MLAs Sarup Chand Singla and Mohinder Kaur Josh also joined the BJP.
The CAIT has complained to the Commerce Ministry to take action against these companies.
According to industry sources, domestic toy manufacturers are seeing a sharp rise in sales during the current financial year. On January 1, 2021, India had banned the sale of toys that are not certified by the Bureau of Indian Standards (BIS). This meant that all factories churning out toys to be sold in India had to be certified by the bureau along with mandatory product testing, including for units abroad.
At 64, the woman who will be India's 15th president, taking over from Ram Nath Kovind, will also be the youngest and India's first President to be born after Independence.
The government on Wednesday extended the existing foreign trade policy (FTP) for six more months up to September 30 this year due to the Covid-19 pandemic, according to a notification. FTP provides guidelines for enhancing exports to push economic growth and create jobs. On March 31, 2020, the government had extended the Foreign Trade Policy 2015-20 for one year till March 31, 2021, amid the coronavirus outbreak and the lockdown.
References to the repealed laws for service tax, purchase tax, etc, continue in the SEZ laws.
India's exports to China have increased by 16.15 per cent to USD 20.87 billion in 2020 from USD 17.9 billion in the previous year on account of healthy growth in the shipments of ores, iron and steel, aluminum and copper, according to the data of the commerce ministry.
made it clear that shops in market places, multi-brand and single brand malls located in municipality areas shall continue to remain closed till May 3.
States and Union Territories have been given the powers for delineation of Red, Green and Orange Zones as per COVID-19 situation, the MHA said. All shops, except those in containment zones and malls, will be allowed to open from Monday with staggered timings during lockdown 4.0, it said.
'The Arunachal border is not demarcated in that way, so there can be differing perceptions (between two sides)'
Devas Multimedia has seized $87,457.47 cash that ISRO's commercial arm Antrix Corporation held in the US as it looked to enforce a $1.2 billion compensation it had won over a cancelled satellite deal, its lawyer said on Wednesday. Devas Multimedia America Inc had sought seizure of $145,000 but the actual recovery was $87,457.47 (a little less than Rs 70 lakh). This came after it secured a favourable order from the Eastern District Court of Virginia, Matthew D McGrill said.
India's exports grew by 67.39 per cent to $32.21 billion in May driven by healthy growth in sectors such as engineering, pharmaceuticals, petroleum products and chemicals, according government data released on Wednesday. Exports in May last year stood at $19.24 billion and in May 2019 it was at $29.85 billion, the commerce ministry's preliminary data showed. Imports in May rose by 68.54 per cent to $38.53 billion, from $22.86 billion in May 2020. In May 2019, imports stood at $46.68 billion.
Each dept could handle a designated area.
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
According to the commerce and industry ministry data, during April-February 2018-19, the eight sectors recorded a flat growth rate of 4.3 per cent over the same period previous fiscal.
CAIT had last month also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's decision to approve the deal.
According to a commerce and industry ministry statement, the growth rate for these eight key sectors for April 2019 has been revised upward to 6.3 per cent from 2.6 per cent reported earlier mainly due to upward revisions in production of coal, crude oil, steel, cement and electricity.
Having almost closed the last contours of the limited trade deal and with the announcement of a much larger trade deal in the offing, we have moved to a new level of engagement: Goyal.
The IT ministry has now written to all these companies, warning that continued availability and operation of these banned apps, directly or indirectly, is not only illegal but also an offence under the Information Technology Act and other applicable Acts, which would attract penal provisions.
The wholesale price-based inflation in February rose to 13.11 per cent on hardening of prices of crude oil and non-food items, even though food articles softened. After two months of mild easing, WPI inflation accelerated in February and remained in double digits for the 11th consecutive month, beginning April 2021. WPI inflation last month was 12.96 per cent, while in February last year, it was 4.83 per cent. The rise in crude oil and natural gas prices after the Russian invasion of Ukraine, beginning February 24, has put pressure on the wholesale price index, even though food articles saw softening across categories of vegetables to pulses to protein-rich items.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
The annual rate of inflation based on monthly wholesale price index (WPI) was 1.22 per cent in December as compared to 1.55 per cent in the previous month. It was 2.76 per cent in December 2019. The decline last month was mainly due to lower increase in food prices, data released by the Ministry of Commerce and Industry showed on Thursday. The food inflation for December dropped to 0.92 per cent as compared to 4.27 per cent in the previous month.
Recently, the finance ministry waived off basic customs duty and health cess on imported oxygen and related equipment for three years.
However, the countries did not take up the issue of proposed withdrawal of export incentives by the US to Indian exporters under Generalized System of Preference.
"I don't want Z category security. I want to be an A-category citizen, at par with you all. Why was UAPA not invoked against those who fired at me? ...I want to live, to speak. My life will be safe when the poor are safe. I will not get scared of those who shot at my car," he said in Parliament.
The ministry said there should be no interruptions in the services of small retail shops, large organised retail stores and e-commerce companies.
The action comes two days after Congress president Sonia Gandhi held a key meeting and broke the ice by starting dialogue with some of the prominent 'letter-writers', who had earlier written to her demanding an overhaul of the party and an effective leadership.
The Ministry of Home Affairs (MHA) on Wednesday allowed cinema halls and theatres to operate with more people while swimming pools have been permitted for use by all in fresh COVID-19 reopening guidelines.
The Centre on Wednesday announced a raft of post-retirement employment possibilities for 'Agniveer' like priority in recruitment to the central armed police forces (CAPF) and Assam rifles but that failed to assuage the concerns of the opposition Congress which warned the 'transformative' 'Agnipath' scheme will reduce the operational effectiveness of the armed forces.
Barring fertiliser, all seven sectors - coal, crude oil, natural gas, refinery products, steel, cement, and electricity - had recorded negative growth in May.
'The world over, everybody is asking for the same medicines, same APIs, same KSMs.' 'However, there is just one supplier -- China -- for the entire world.'
The Modi government has to embrace the history of Tamil conquests in South East Asia and stop obsessing about Babar/Humayun, argues Colonel Anil A Athale (retd).
'For the first time, all major countries are discovering India's indispensability to their own foreign policy interests.'
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