The decline of over 5 per cent in PB Fintech's shares (the parent company of PolicyBazaar) in the past two days presents an opportunity for long-term investors to consider buying the stock, suggest analysts. By comparison, the benchmark S&P BSE Sensex has remained flat during the same period with a negligible gain of 40 points, or 0.06 per cent. Analysts believe that the recent selling is "overdone", as the company behind the online insurance portal remains committed to achieving profitability, and the potential threat from the government's online insurance portal, Bima Sugam, might be embellished.
Glimpses of lady MPs as the nation's lady finance minister presents the Budget for the next financial year on Wednesday, February 1, 2023.
The grievance redressal mechanism of many big e-commerce players is not up to the mark as the number of complaints received by the National Consumer Helpline has risen sharply over the last four years, Consumer Affairs Secretary Rohit Kumar Singh said on Thursday. Addressing an event organised by the Public Affairs Forum of India (PAFI), Singh said the number of complaints registered on the National Consumer Helpline (NCH) has gone up to 90,000 in November compared to 40,000 in the same month last year. "Four years back, the number of complaints pertaining to e-commerce transactions was 8 per cent of the total complaints.
According to Chinese officials, its current investments in India stands at $1.1 billion, mostly in Gujarat.
Total foreign direct investment (FDI) inflow to India declined to $74.01 billion in the calendar year 2021, which is 15 per cent lower from $87.55 billion recorded in the previous year, the ministry of commerce & industry said on Wednesday. The FDI inflow includes equity inflow, equity capital of unincorporated bodies, re-invested earnings and other capital. "FDI is largely a matter of commercial business decisions and FDI inflow depends on a host of factors such as availability of natural resource, market size, infrastructure, political and general investment climate as well as macro-economic stability and investment decision of foreign investors.
Prime Minister Narendra Modi, who is in the United States for a three-day state visit, has gifted an eco-friendly lab-grown 7.5 carat diamond, placed in Kashmir's exquisite Papier mache box, to First Lady Jill Biden.
British mining major Rio Tinto will be investing Rs 370 crore (rs 3.7 billion), for exploration and mining of diamonds in Madhya Pradesh's Bunder town, over the next three years, a senior State Government official on Monday said.
The proposed e-commerce rule book issued recently by the ministry of consumer affairs does not mention foreign companies or foreign direct investment (FDI) at any place, unlike most other government guidelines for the sector so far. That is a heartening development since the latest proposals could be fine-tuned as e-commerce policy.
The government on Thursday imposed import restrictions on laptops, tablets, all-in-one personal computers, ultra small form factor computers, and servers with immediate effect. The Directorate General of Foreign Trade (DGFT) in a notification said exemption from import licensing is provided up to 20 items per consignment for R&D, testing, benchmarking and evaluation, repair and return and product development purposes.
Coupang, a prominent online retail giant headquartered in the United States (US), is gearing up to establish a cutting-edge technology centre in India, aiming to hire several dozen skilled professionals by the end of the year, Business Standard has learnt. The intended expansion involves the recruitment of software engineers across various domains, underscoring Coupang's commitment to extend its global reach. The Indian team will support the company's global technology team, sources said.
Assocham report cites economic slowdown, liquidity crunch, labour shortage etc as reasons.
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
Indian film industry lost Rs 300 crore (Rs 3 billion) on gross revenues of Rs 3, 900 crore (Rs 39 billion) during 2002, Rajya Sabha was informed on Monday.
Ten states and Union Territories have endorsed the Centre's decision to allow FDI in multi-brand retail, Minister of State for Commerce and Industry Jyotiraditya Scindia said on Monday.
In a major development, India and the US have agreed to end six trade disputes at the WTO through mutually agreed solutions, while New Delhi will remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
The interim free trade agreement between India and Australia will come into force on Thursday, providing duty-free access to thousands of domestic goods such as textiles, and leather in the Australian market. The agreement will help almost double the bilateral commerce to $45-50 billion in around five years, according to exporters and industry players. The Economic Cooperation and Trade Agreement (ECTA), which was signed on April 2, would provide duty-free access to Indian exporters of over 6,000 broad sectors, including textiles, leather, furniture, jewellery and machinery in the Australian market.
Modi and Chouhan have visited Mahakoshal multiple times and reached out to tribals to shore up support for the BJP.
From crisis leaders to future Goliaths, India Inc saw them all in 2017, says Shailesh Dobhal.
India's drug policy of stringent price control regime is a major concern for United States industries because it creates obstacles to maintaining viable businesses in the country, according to a report by the United States Trade Representative.
In a statement, the state government alleged 'malicious attempts' to discourage the use of products lacking a halal certificate not only seek 'unfair financial benefits' but also form part of a 'pre-planned strategy to sow class hatred, create divisions in society, and weaken the country' by "anti-national elements".
To tap into the growing demand for offices, several global and Indian co-working entities are creating stock in the top cities.
Beijing wants assurance that its investments won't come under scrutiny
There is seething anger among the senior administration officials -- at State, Commerce and the Pentagon -- and representatives of business and industry that New Delhi's decision was wholly political and much of the finger-pointing was at Defence Minister A K Antony and the Defence Research and Development Organisation.
As sanctions-hit Russia increasingly relies on consumer products from India, outbound shipments to Russia have started picking up for the second consecutive month in October. This comes after it witnessed contraction for six consecutive months starting March, commerce and industry ministry data showed. During October, India exported goods worth $280 million, up 3.7 per cent as compared to a year ago. It was led by demand for items such as vegetables, tea, coffee, chemicals as well as iron and steel products.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Minister of State for Commerce and Industry E M Sudarsana Natchiappan said the industry should reach out to people of those areas where they propose to set up projects and explain about the advantages locals can have in terms of employment and development.
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.
Commerce and Industry Minister Anand Sharma has written to chief ministers of Odisha, Punjab and Uttar Pradesh, stating opening the multi-brand sector to the foreign direct investment would 'bring in investments, technologies and efficiencies to unlock the true potential of the agricultural value chain'.
The high-level panel also asked the government to work towards re-orienting subsidies in a targeted manner from the crop sector to the non-crop sector and redesign the electronic National Agriculture Market.
This is the Mukesh Ambani-led company's second entry into the dairy segment and it will directly compete with Amul and Mother Dairy.
Prime Minister Narendra Modi on Tuesday met business leaders to hear their grievances on issues ranging from high capital cost to ease of doing business to certainty on taxation matters, as he interacted for the first time with the Indian industry chambers since taking charge over a year ago.
The commerce ministry is proposing a host of direct and indirect incentives such as deferral of import duties and exemption from export taxes to revamp Special Economic Zones through a new legislation, an official said. In the Union Budget this year, the government proposed to replace the existing law governing Special Economic Zones (SEZs) with a new legislation to enable states to become partners in 'Development of Enterprise and Service Hubs' (DESH). The official said the commerce ministry has sought views of different ministries, including finance, on the new bill.
Making the announcement, the Ministry of External Affairs said on Tuesday that India will hold the G20 presidency from December 1, 2022, and will convene the G20 leaders' summit in 2023 for the first time.
On the other hand, 16 or half of all states and Union Territories account for only 3 per cent of all exports.
Initiating the debate on the bill from the opposition's side, Congress leader Sonia Gandhi said that any delay in bringing the reservation into effect would be "gross injustice" to Indian women.
The Sikkim Government has confirmed that 14 people have died so far in the flash floods that occurred in Sikkim in the early hours of Wednesday.
Civil Aviation Minister Suresh Prabhu and Chief Minister Pinarayi Vijayan jointly flagged off the inaugural Air India Express flight, carrying 186 passengers to Abu Dhabi.
The White House has not spelt out regulatory or legislative steps.
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