The state is in the process of grooming a supplier ecosystem, for which India is almost entirely dependent on imports.
US President Donald Trump signed an executive order directing the Department of Justice to pause enforcing a nearly half-century-old law that was used to launch a bribery investigation against the Adani Group. Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
The government may soon give the green light to bilateral trade between Russia and India in their national currencies to avoid any trade disruptions, multiple people aware of the matter said. While the Department of Commerce has recommended the proposal, an announcement is likely to be made by the finance ministry after further deliberations between the Department of Economic Affairs and Department of Financial Services. "The finance ministry will take a call on how to peg the two currencies," a senior government official told Business Standard. In the past, the two nations have had rupee-rouble trade, and when such an arrangement is implemented again, it will bypass the sanctions imposed on Russia by the West.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
The Confederation of All India Traders (CAIT) representing 70 million traders has written to Union Commerce Minister Piyush Goyal, drawing his attention to the alleged violations of laws and regulations by quick commerce (qcom) companies.
Gautam Adani had in the late 1970s applied to join a Mumbai college for education, but the college rejected his application. He did not pursue education but turned to business and went on to build a $220 billion empire. About four-and-a-half decades later, he gets called to the same college to deliver a lecture to students on Teachers Day. Adani had moved to Mumbai at the age of 16 and started working as a diamond sorter.
New investors should gradually build a 5 to 10 per cent allocation to gold.
From highways connecting once-remote regions to aviation networks carrying millions, India's infrastructure story is one of transformation.
'Volumes in F&O trading had gone up rapidly and, in a way, the increase in STT on F&O will protect investor interest.'
Gold imports more than doubled in August to a record high of $10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at $4.93 billion in August 2023. On record high imports, Commerce Secretary Sunil Barthwal said that the tariff rates on gold have been reduced drastically so that smuggling and other activities can come down.
'As far as contract farming is concerned, we already have a model Act and states will be encouraged to adopt them.'
The impact of Trump's announcement of increasing import tariffs will have negligible benefit for India not because of companies trying to shift from China to other countries or their supply chains being affected due to their Chinese operations but because of our faulty policies, explains Mudit Jain.
India's gain will be an additional business of $300 million to $400 million per month if 10-11% of Bangladesh's export is diverted to Indian hubs like Tiruppur.
'Samsung declared they would not allow the presence of any trade union.' 'This is unacceptable as the rule of law in India permits employees to have a trade union.' 'So, the crux of the strike is this.'
India's economy is likely to grow by 6.5 per cent in the current and the next financial year, an EY report said, attributing lower than anticipated expansion in the September quarter to fall in private consumption expenditure and gross fixed capital formation. Real GDP growth eased to a seven-quarter low of 5.4 per cent in July-September -- the second quarter of the current 2024-25 fiscal year.
User protection and a proposal for a licensing framework for companies seeking to operate in the cryptocurrency area will be part of an upcoming consultation paper on the sector, said a senior industry executive. Even as specific regulations around crypto are yet to take shape, companies are setting up baseline user protection processes, including a redressal mechanism, fraud detection, regular filing of suspicious transaction reports (STRs), among others.
The Reserve Bank of India (RBI) has given its approval to two Russian banks for opening special vostro account for rupee trade. Sberbank, JSC VTB - the largest and second largest bank of Russia - are the first foreign lenders to receive this approval after the central bank announced the norms on INR trade in July. Both lenders have branch presence in India. Earlier this month, state-run UCO Bank received the RBI's approval to open a special Vostro account with Gazprombank of Russia. While the Kolkata-based lender is in the process of opening the account, the bank has received requests from various foreign lenders for opening such an account.
Finance Minister Nirmala Sitharaman on Tuesday said the securities transaction tax (STT) will be increased on futures and options (F&O) trade from October 1 to discourage retail investors from investing in the risky instrument.
'Justice may or may not happen, but who are those people who did this to her?' 'If the hospital authorities had helped us that day, or the police, then the real culprits would have been caught.' 'Getting justice for my daughter is my goal now and I want the CM to remember that.'
The Manipur government has accused Mizoram Chief Minister Lalduhoma of stoking hatred and division through "unwarranted comments" and called on him to display "better statesmanship" by being a "good neighbour". In a statement, the Manipur government alleged that Lalduhoma's comments were part of a "greater agenda" to carve out a Kuki-Chin Christian nation from contiguous areas of Myanmar, India, and Bangladesh. It also warned against any attempt to "push" illegal Kuki-Chin immigrants from Mizoram into Manipur for land grabbing and the creation of a "Greater Mizoram." The Mizoram government could not be reached immediately for comment.
'As we enter 2025, it must be acknowledged that there is a convergence of capital, influential people (from business and politics) and technology deciding the destiny of others in the name of pride, patriotism, nationalism, nation building, all of it thinly veiled disguises for personal profit and glory,' asserts Shyam G Menon.
Trumponomics, poor growth, and high valuation certainly don't make a bullish recipe for Indian markets, warns Debashis Basu.
A group comprising top tech startups and unicorns has raised several "serious concerns" over a platform-based gig workers Bill proposed by the Karnataka government, saying it would hurt the ease of doing business. They told the state government the Bill in its current form would hamper operations and increase regulatory and compliance burden on the nascent gig and startup economy, according to sources.
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
Iran's ambassador to India, Iraj Ilahi, expressed concern about the stability and security of the "whole region" following the collapse of the Syrian government, highlighting Tehran's worries about the potential wider ramifications of the situation. Ilahi also emphasized the importance of promoting tourism between India and Iran, citing their shared cultural heritage and the recent easing of visa restrictions.
'This case is not a good example of intellectual property strategy for either sector.'
Banks have raised concerns over the new international trade settlement in rupee, fearing that facilitation of such a mechanism could result in them facing the ire of economic sanctions by the West, people aware of the matter said. Large banks with overseas operations have sought clarity and assurance from the Reserve Bank of India (RBI) that they will not be targeted with sanctions for facilitating rupee trade with a sanction-hit country such as Russia. The present payment mechanism is a shift from earlier such arrangements, like the one with sanction-hit Iran, which involved banks facilitating settlement of international trade that did not have business in the sanctioned nation.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
'Trump has no more elections to fight and his soaring ambition, which is no secret, will be to carve out a presidential legacy that outshines by far all his mediocre predecessors.' 'Trump's turnaround on the H-1B visa debate shows that he can take tough decisions and there are no holy cows in his domain,' asserts Ambassador M K Bhadrakumar.
The government may roll out a new foreign trade policy (FTP) of a shorter term of two-three years in a bid to keep pace with the fast-evolving scenarios in international trade which have been triggered by recent disruptions, such as the pandemic and the Russia-Ukraine war. An FTP is an elaborate policy guideline and strategy to promote the export of goods and services, with a duration of five years usually. The existing policy came into force on April 1, 2015, and was valid for five years, before multiple extensions.
Former RBI governor Raghuram Rajan has asked why SEBI has not yet got to the bottom of ownership of the four Mauritius-based funds who are said to have parked 90 per cent of their $6.9 billion in Adani group stocks, saying does the market regulator need help of investigating agencies for this? The funds -- Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund -- have been under cloud for last couple of years after allegations that they may be shell companies. They came into focus once again in January when a US short seller alleged that Adani Group used offshore shell companies to inflate stock price.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
Several candidates, including Taranjit Singh Sandhu, the BJP's Amritsar candidate, are promising resumption of India-Pakistan trade via the Attari-Wagah land route.
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
Given the high priority accorded to the manufacturing sector, several policy initiatives around the theme of Atmanirbhar Bharat have been set in motion to address its competitiveness and growth. Some notable examples include the PLI scheme and the employment-linked incentive scheme announced in the recent Union Budget. The Budget also announced the setting up of 12 industrial parks under the National Industrial Corridor Development Programme (NICDP).
India has flagged concerns over non-tariff barriers (NTBs) faced by its exporters with the Russian government, commerce secretary Sunil Barthwal said on Monday. NTBs faced by Indian exporters are mainly in sectors such as marine products and pharmaceuticals.
A notification issued by the state home department on Friday said the IPS officer, as the then Government Railway Police commissioner, permitted the erection of the hoarding without taking mandatory permission from the office of Maharashtra director general of police.
rediffGURU Patrick DSouza trains students for competitive management entrance exams such as the Common Admission Test, the Xavier Aptitude Test, Common Management Admission Test and the Common Entrance Test.
IPO bound HMIL, which is also from South Korea, had faced severe labour unrest for nearly a decade till the realisation -- a worker's union cannot be avoided -- dawned on it.
