The Positive Indigenisation List includes Rs 715 crore worth of high-end materials and spares, the import of which will be permitted only until a date specified for each. After each one's import deadline elapses, it will have to be procured from the Indian industry.
Led by Nationalist Congress Party-Sharadchandra Pawar MP Supriya Sule, Group 7 will engage with key countries in Africa -- Egypt, South Africa, Ethiopia -- and Qatar to present India's position on Operation Sindoor, launched in response to the April 22 Pahalgam terror attack.
As a measure to pre-empt dumping from China, the government has slapped restrictions on imports of specific steel items used widely in the automobile, oil and construction industries.
The 17 rare earth elements that are at the centre of the current crisis are critical components of everyday products -- from cars to jet engines to electronics like smartphones and flat-screen TVs.
A day ahead of the interim Budget, India slashed import duty on spare parts, like battery cover, lens and SIM socket, used in mobile phone manufacturing to 10 per cent, from 15 per cent. The duty cut is aimed at boosting local production and exports, as well as reducing prices in local markets. The finance ministry on January 30, notified the cut in duty on all goods for use in manufacture of cellular mobile phones to 10 per cent.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
'Sebi had no problem with derivatives until trading exploded after Covid.' 'But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,' explains Debashis Basu.
The story of the Bombay Stock Exchange and the people who shaped its growth: From wars and bomb blasts to speculators, reformers and wealth creators.
The move came against the backdrop of Turkiye backing Pakistan and its condemnation of India's strikes on terror camps in the neighbouring country and Pakistan-occupied Kashmir under Operation Sindoor.
October shipments to India, the world's No.2 gold consumer behind China, jumped to about 150 tonnes from less than 25 tonnes a year earlier and 143 tonnes in September, a finance ministry official said last week.
To check rising current account deficit, the government raised import duties and the RBI imposed curbs on import of the metal and also laid down various pre-conditions for inward shipments of the precious metal.
India sharpened measures to curb imports of the yellow metal by hiking the import duty and restricting consignment imports, after shipments jumped to more than 300 tonnes in April and May.
The government, in the forthcoming Budget, could consider levying higher tariffs on imports to check the significant decline in rupee value witnessed in the past few months, said EY Chief Policy Advisor DK Srivastava. The noted economist argued that higher import duties would curb the demand for dollars from importers and help arrest the sliding value of the rupee, which touched a historic low of 86.70 to a dollar on January 13.
In order to check rising current account deficit, the government had raised import duties on the yellow metal to 10 per cent while Reserve Bank of India imposed curbs on import of gold and also laid down various pre-conditions for inward shipments of the precious metal.
However, some experts, including RBI Governor Raghuram Rajan, have favoured doing away with curbs on gold imports because they lead to smuggling.
Gold imports in 2011-12 amounted to $56.5 billion and in the current financial year, till December, they are estimated at $38 billion.
Sebi is looking at introducing a system where an investor can sell shares as soon as they are allotted in an Initial Public Offering (IPO) to curb grey market activity, chairperson Madhabi Puri Buch said on Tuesday. The chief of the capital markets regulator also announced that the top two proxy advisory firms are on the verge of launching a portal which will be a repository of related party transactions and will be useful in judging the governance standards in a company for any stakeholder.
After effecting two back-to-back 25 basis points rate cuts, Reserve Bank Governor Sanjay Malhotra on Wednesday hinted at another reduction in key policy rate by changing the central bank's monetary stance to 'accomodative' from 'neutral', which may further lower EMIs for consumers.
Import by 4-star and 5-star export houses effectively barred from importing for domestic consumption.
Justice Bhushan Ramkrishna Gavai, India's 52nd chief justice and its first Buddhist one, has played a key role in shaping the judicial landscape, penning about 300 verdicts, including landmark rulings on constitutional issues, liberty, and perhaps most important against the executive's 'bulldozer justice'.
The WTA and ATP have jointly announced on Tuesday new scheduling regulations that restrict evening matches to two per court and per day, with a recommended start time of 1830 local time to curb matches from concluding in the early morning hours.
The rule required firms to mandatorily export 20 per cent of the gold they had imported.
Gold import was 1,015 tonnes in 2012-13 and nearly 70 per cent of this was by this method.
Both the government as well as the RBI took a series of steps to curb imports of gold and other non-essential items in addition to increase foreign exchange inflows.
In Jan the country raised the import tax on the yellow metal by 2 percentage points.
It rose to 310 tonnes in the second quarter ended June.
It will help to stop widening of Current Account Deficit.
'India enjoys conventional superiority, but nuclear deterrence imposes clear boundaries.'
Gold imports, which peaked at 162 tonnes in May, came down to 19.3 tonnes in November.
Every year Indians consume about 22 million tonnes of lentils
Responding to concerns over the rise in inflation to 5.45 per cent, Finance Minister P Chidabaram said on Sunday that there was a supply-side constraint on essential commodities like pulses and the government would look at higher duty-free imports
For the past 50 years, the Hindu family of Gulab Yadav has been ensuring that Muslims in the village wake up on time for 'Sehri', the pre-dawn meal consumed before fasting during Ramzan.
'Geopolitical stability could remove the crude oil risk premium.'
Gearing up for Trump 2.0 era, Chinese President Xi Jinping on Tuesday cautioned there will be no winner in a tariff or tech wars between China and the United States and vowed that Beijing would firmly safeguard its interests.
Last month's deficit stood at $9.22 billion, the trade ministry said, compared with $10.56 billion in October -- a traditional gold buying season.
The government had increased customs duty on gold to 10 per cent and banned import of gold coins and medallions, while the RBI linked imports of the metal to exports.
The process of refrigerating the rice overnight starch that is resistant to digestion and therefore it will not spike blood glucose levels.
India's overall imports from Taiwan during April-February rose by 34 per cent to $7.5 billion.
Under its new chairman Tuhin Kanta Pandey, the Securities and Exchange Board of India (Sebi) has gravitated towards greater transparency and ease of doing business, setting an objective of "effective and optimum" regulation. On Monday, during its first board meeting under Pandey, the regulator has decided to constitute a high-level committee (HLC) to review conflicts of interest and unveiled initiatives to simplify regulatory processes.
