'Many do not have robust business models, and their prospects of survival and long-term growth are poor.'
As the government plans to take sector-specific steps to tackle the slump, Finance minister Nirmala Sitharaman will soon hold talks with representatives from various sectors to get and take steps so that the confidence of those sectors can be restored.
'The global situation is not very good.'
India granted 1.03 lakh patents in financial year 2023-24, Controller General of Patents, Designs and Trademarks Unnat Pandit said on Thursday, as he assured that there will be "no delay" in the Intellectual Property Office as it prioritises timely clearance of applications. Addressing an Assocham event here, he shared that 40 per cent of the applications were disposed of within 30 months of the request for examination. "We are going to have no delay in the IP office, that's the motive with which we have .. that IP should be granted and under Chapter 8 of the Act it should also be utilised by the applicant ... that will generate the economic value of IP," Pandit said.
RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a "policy priority" for the central bank to make the post-pandemic recovery more equitable and sustainable. The Reserve Bank of India will very soon be coming out with the first financial inclusion index, which will assess progress in terms of access, usage and quality, Das said, while speaking at the Economic Times Financial Inclusion Summit. It is the responsibility of all stakeholders to ensure that the financial ecosystem (including the digital medium) is inclusive and capable of effectively addressing risks like mis-selling, cybersecurity, data privacy and promoting trust in the financial system through appropriate financial education and awareness, he added.
The developers, including Raheja Ltd, Ascendas, L&T and GMR, among others, are in the Ministry of Commerce and Industry's Export Promotion Council for export oriented units and special economic zones.
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.
The Parliamentary Standing Committee on Commerce has observed that a massive shortfall in the budgetary allocation of over Rs 1,900 crore by the finance ministry to the industry department may have an adverse impact on the implementation of infrastructure (infra) projects in 2022-23 (FY23). While the Department for Promotion of Industry and Internal Trade (DPIIT) had sought Rs 10,267 crore from the finance ministry for FY23, it received Rs 8,348-crore allocation. For the National Industrial Corridor Development & Implementation Trust (NICDIT), the finance ministry has allocated Rs 1,500 crore instead of Rs 2,400 crore demanded for the project.
As China's Foreign Minister Sun Weidong visited Pakistan on a mediation mission, a statement from Foreign Ministry on Monday said it is maintaining close contacts with Pakistan and Iran to 'bridge their differences'.
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
Both Putin and Zelenskyy have invited the prime minister to visit Russia and Ukraine respectively after the Lok Sabha elections, sources said, adding they see Modi as a "peacemaker".
As Chandigarh braces for a fierce contest between Congress candidate Manish Tewari and the BJP's Sanjay Tandon, its industry leaders harbour a fervent wish: Replicate the success of the National Capital Region model in this Union Territory.
Prime Minister Narendra Modi on Friday embarked on a tour of Japan, Papua New Guinea and Australia to attend three key multilateral summits including that of the G7 grouping and Quad.
'The two sides agree to continue firmly supporting each other in safeguarding their respective core interests,' a joint statement issued at the end of Muizzu's talks with Chinese leaders said.
The project, the agreement for which was signed way back in 2009, had been gaining strategic relevance over the years as India-China ties took a hit.
Muizzu's announcement also comes days after a Chinese research vessel spent about a week around Male and more than a month just outside Maldives' EEZ.
The statement implicated members of the Mukhiya gang, accused of orchestrating multiple interstate paper leaks, as the source of the leaked answer sheet.
The compulsion behind India and Japan to deepen security cooperation is in response to China's growing political and economic clout and its assertive behaviour in disputed areas. This has been the key driver for bringing both India and Japan closer in the domain of security cooperation, explains Dr Rajaram Panda.
Foreign direct investment (FDI) in India grew 40 per cent to USD 51.47 billion during April-December 2020-21, according to government data released on Thursday.
Modi, after delivering his sixth straight address to the nation on Independence Day from the ramparts of the Red Fort in New Delhi, went into a brainstorming session with Sitharaman and all top officials in her ministry, sources privy to the development said. T
India and the Maldives on Friday agreed to set up a core group to further deepen their partnership as Prime Minister Narendra Modi held a 'productive' meeting with newly-elected Maldivian President Mohamed Muizzu and discussed ways to enhance the bilateral friendship across diverse sectors.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
India's merchandise exports in April 2024 marginally rose to $34.99 billion from $34.62 billion in the year-ago month, according to government data released on Wednesday. Imports too increased to $54.09 billion from $49.06 billion in April 2023.
'The response from the government using words like malicious, deliberate, etc is diverting from the real issue.' 'The indicators related to young children such as stunting or child mortality are a reflection of the social development in the country.' 'That's how we have to look at it and not ignore the issue by denying the data.'
The talks between Singh and Esper came a day after Prime Minister Narendra Modi held a telephonic conversation with US President Donald Trump.
'In the interim, India will be confronted with anti-India feeling because Sheikh Hasina had India's support.' 'We will have to deal with it, but it will not be a permanent phenomenon.' 'There is substantial goodwill towards India which will stand us in good stead.'
The Bihar Police's Economic Offences Unit, which is probing the alleged National Eligibility-cum-Entrance Test (Undergraduate) (NEET-UG) paper leak case, on Saturday claimed to have obtained reference question papers of the test conducted by National Testing Agency (NTA) and planned to compare these with documents recovered from a flat in Patna during a search operation last month.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
The government had allowed companies in February last year to launch probe missions to find more oil and gas within already-producing areas.
The new United Progressive Alliance government has identified infrastructure development as its top most priority for faster economic growth and equitable distribution of income.
Narendra Modi had stressed need for shifting focus from port development to 'port-led development' model to maximise gains
He urged China to bolster the flow of its tourists to the Maldives.
The revamped Special Economic Zone (SEZ) law is unlikely to see the light of the day before the upcoming Lok Sabha elections, two people aware of the matter said. The commerce department had sought the Union Cabinet's nod to bring amendments to the existing SEZ Act, 2005 late last year. The plan, thereafter, was to introduce the Bill in the winter session of Parliament. Cabinet's approval remains pending.
'Heavy rains are not the primary reason for landslides in Wayanad.' 'There are all sorts of (human) intervention going on in that area.'
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
For the country's maiden offshore mineral mining auction, the Centre is planning to relax the rules on the number of chances for bidding. Under the newly announced draft Offshore Areas Mineral (Auction) Rules and Offshore Areas (Existence of Mineral Resources) Rules, the ministry of mines is planning to offer three chances to potential bidders in its forthcoming inaugural offshore mining auction. If a single bid is not received during the second attempt, the plan is to initiate a new round of bidding for the third time.
Sajjid Chenoy, India economist at JP Morgan is the new part-time member.
The government on Friday appointed noted economist Arvind Virmani as the new chief economic advisor in finance ministry.
'Curiously, Pinarayi's approach, stressing the imperatives of development, is robustly backed by Nitin Gadkari.'
'I stand next only to Gadkari, one of the few outstanding ministers in the Modi government, in applauding Pinarayi's political courage and vision,' says Ambassador M K Bhadrakumar.
China is also ready to promote high-quality Belt and Road Initiative cooperation, and push for new progress in the future-oriented, all-round friendly and cooperative partnership between the two countries, she added.
