For months, offline retailers and traders have been lobbying hard for a national retail policy to protect their business from the growing influx of e-commerce.
From the Sensex pack, Reliance Industries fell the most by 2 per cent. Tata Steel, Bajaj Finserv, ITC, NTPC, Bharti Airtel, Tech Mahindra, Titan, Axis Bank and Bajaj Finance were among the other major laggards.
The US and China have sparred over the origin of the virus for days, with a Chinese official promoting conspiracy theories.
Rising skills gap, falling exports, low productivity, rising debt and low foreign investment is jeopardising the target set for the textile and apparels sector
In a major clampdown for non-compliance of Listing Agreement, top exchanges BSE and NSE announced suspension of trading in shares of Kingfisher Airlines and another group firm, UB Engineering, from next month.
New exchange will provide an electronic platform for trading.
The prime minister, who is visiting the US at the invitation of President Biden and First Lady Jill Biden, will join them for the state banquet along with a number of dignitaries on Thursday.
The proposed policy is increasingly becoming an item of negotiation, as the US pushes hard to change India's stance.
This alternative is being planned as the existing projects continue to be delayed due to land acquisition troubles. The ministry is thinking of adding new track lines to its existing eastern and western DFCs passing major areas in the proposed stretches, senior officials said.
The Centre on Tuesday said it will not seek disclosure of flash sales from e-commerce players to regulate the fraudulent sale of goods and services but will take appropriate action as per the law on consumer complaints. Discount sales that benefit maximum to consumers will continue, but not fraudulent flash sales on the e-commerce platforms, the government said, adding that the e-tailers need not be "anxious" about the draft rules. Ban on fraudulent flash sales, mis-selling and appointment of chief compliance officer/grievance redressal officer -- are among key amendments proposed to the Consumer Protection (e-commerce) Rules, 2020, on which the government has sought public comments by July 6.
With cases hitting a new peak in several parts of the country, the demand for medical oxygen has increased as it is a critical component in the treatment of COVID-19-affected patients.
The government is working towards further review and simplification of the foreign direct investment (FDI) policy to facilitate the proposed initial public offering (IPO) of the Life Insurance Corporation (LIC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Thursday. The final decision will be taken by the Cabinet. The industry department is working together with the finance ministry's department of financial services (DFS) and department of investment and public asset management (DIPAM) towards a successful listing of the life insurer on the domestic bourses, which is expected to be the largest in India.
The US on Thursday raised concerns over India's Personal Data Protection (PDP) Bill and draft non-personal data governance framework, claiming these could potentially threaten innovation and economic growth. In its latest 'Special 301' Report, the US Trade Representative (USTR) kept India on the priority watch list, maintaining the country remains one of the world's most challenging major economies with respect to protection and enforcement of intellectual property (IP). In December 2021, a joint parliamentary committee released a report recommending changes to the PDP Bill, 2019, that could undermine important IP protections in India.
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
Modi's visit to the US will commence in New York, where he will lead the celebrations of the International Day of Yoga at the headquarters of the United Nations on June 21.
Import curbs on Chinese panels and modules may help, but low demand and capacity remain problem areas, says Shreya Jai.
New foreign trade policy to stress manufacturing exports.
India's exports shrank in January for the 14th straight month on continued weak demand from Europe
The Indian government headed by Prime Minister Manmohan Singh, who is known as the architect of the country's liberalisation and economic reforms, is inching towards a "protectionist" regime, top American experts have told US lawmakers.
The Union Cabinet on Wednesday approved revision in guidelines for providing direct to home (DTH) services in the country under which licenses would be issued for 20 years, Union minister Prakash Javadekar said. The Union Cabinet has also approved 100 per cent FDI in the DTH broadcasting services sector, Javadekar said, adding that while the commerce ministry had spoken of 100 per cent FDI in the DTH sector, the guidelines of the information and broadcasting ministry needed to be changed.
According to industry figures, the pre-Covid demand for liquid medical oxygen (LMO) before the pandemic was 700 tonnes per day across the country. Now, with the second wave, the demand has gone up more than seven times, reports Jyoti Mukul.
Acting Foreign Minister of Afghanistan, Amir Khan Muttaqi, on Wednesday arrived in Islamabad, his first visit to the country, as part of efforts by the two sides to reset their ties in the wake of the Taliban's takeover of Kabul.
The unilateral pressure by US administration on India, at the behest of US Business Associations lobby through US International Trade Commission investigations and request to USTR to enlist India under Priority Foreign Country under Special 301 review, lacks legitimacy under WTO framework, the signatories to the letter said.
Can this growth in GST collection be sustained in the coming years? asks A K Bhattacharya.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
The trade to-and-from India so far is not affected. But if the situation continues to remain the same for the next two to three months, it could definitely hurt India trade, including essential cargo.
CNG price in the national capital and adjoining cities on Tuesday was hiked by Rs 0.50 per kg, while an imminent increase in petrol and diesel price has been put on wait-and-watch mode for more clarity on global oil prices. CNG price in NCT of Delhi has been increased to Rs 57.51 per kg from Rs 56.51, according to the information posted on the website of Indraprastha Gas Ltd - the firm which retails CNG and piped cooking gas in the national capital. Following the firming up of international gas rates, IGL has been raising CNG rates by up to 50 paise (Rs 0.50) per kg periodically. Prices have gone up by about Rs 4 per kg this year alone.
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking "necessary action" against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
Ahead of his crucial talks with Russian President Vladimir Putin in Moscow, Chinese President Xi Jinping said on Monday that his peace plan to end the raging Ukraine war takes into account the 'legitimate' concerns of all parties and reflects the broadest common understanding of the international community.
Registering a jump of 10 places in the rankings, Uttar Pradesh occupied the second position in 2019 as against 12th in 2018.
The war in Ukraine has made its presence felt at the World Economic Forum's annual meeting in Davos. As political and business leaders' debate, they remain fearful of Europe's economic future. There is a sense of gloom among many business leaders as energy shortage and economic recession rear their heads. Global investors are keenly assessing the presence of Indian delegation at Davos.
The basket of crude oil that India buys has hit a decade high of $121 per barrel, but retail selling prices of petrol and diesel continue to remain frozen. The Indian basket on June 9 touched $121.28, matching levels seen in February/March 2012, according to data available from the oil ministry's Petroleum Planning and Analysis Cell (PPAC). As per the PPAC, the Indian basket of crude oil averaged $111.86 per barrel between February 25 and March 29 - the immediate period after Russia's invasion of Ukraine sent oil on fire.
India has been forcefully raising the issue of market access as well as protected lists of goods mainly to shield its domestic market as there have been fears that the country may be flooded with cheap Chinese agricultural and industrial products once it signs the deal.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
The policy proposes a single-window platform for facilitation of the Indian software product industry, to help fast-track legal and regulatory issues over import and export, as well as setting up and winding up enterprises.
The appointments committee of the Cabinet headed by Prime Minister Narendra Modi cleared Bhalla's appointment as OSD in the ministry with immediate effect.
ndia has become the world's second largest market of asbestos as the government backed by powerful corporate lobby turns a blind eye to diseases related to the use of the hazardous chemical.
L&T was the top gainer in the Sensex pack, rising over 3 per cent, followed by Bajaj Finance, Reliance Industries, IndusInd Bank, SBI and HDFC Bank. NSE Nifty surged 168.05 points to 14,653.05.
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