Countries that have signed the RCEP agreement can start negotiations with India for joining the pact once New Delhi submits a written request stating its intention for the same, according to a declaration. On November 4 last year, India walked out of mega free trade agreement RCEP (Regional Comprehensive Economic Partnership) as negotiations failed to address New Delhi's outstanding issues and concerns. The remaining 15 member countries have signed RCEP agreement and have stated that the pact would remain open to India.
'India has an advantage because we produce more cotton and we have more workforce.'
The commerce ministry wants the stimulus packages for exporters to continue for some more time till the sector recovers completely.
Development in state has benefitted community, they say.
We have a government with an extremely weak economic team advising a PM who hardly pays attention to their thoughts, says Jayanta Roy.
Many political detainees have been released but former chief ministers Farooq Abdullah, Omar Abdullah and Mehbooba Mufti, who were whisked into custody in the early hours of August 5, 2019, are still in preventive detention.
Referring to the ugly scenes witnessed in the Rajya Sabha recently and indicating action against those involved, he reminded elected representatives of their responsibilities.
Bharatiya Janata Party's prime ministerial candidate, Narendra Modi, last month urged small traders to compete with foreign retail chains through e-commerce.
Officials in the government, however, said India could only lodge a protest and not take legal action against the US.
Violation of the provisions entails a punishment of a jail term of up to five years or with fine up to Rs one crore or with both.
'In the current scenario e-commerce delivery is flourishing, driving demand.'
Initial share sales are set to dazzle the Dalal Street in 2022 too as companies are expected to garner up to Rs 1.5 lakh crore in the New Year, continuing with the bullish momentum after 2021 turned out to be the best IPO year in two decades for the Indian market. Excessive liquidity and increased retail investor participation ensured a persistent euphoria in the Initial Public Offer (IPO) space wherein companies mopped up more than Rs 1.2 lakh crore this year even as pandemic gloom shadowed the broader economy. In 2022, the higher amount of funds through the primary market will be largely driven by the mega IPO of state-owned Life Insurance Corp (LIC).
SoftBank's investments in the past two years include $627 million in online-retailing marketplace Snapdeal and leading a $210 million funding round in taxi-hailing app Ola Cabs.
'If Indians are to be truly protected, Parliament must review and address these dangerous provisions before they become law.'
The CAIT has complained to the Commerce Ministry to take action against these companies.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is today among the best digitally connected nations in the world.
The commerce and industry ministry may withdraw incentives offered to certain export-oriented industries and reallocate these to the sectors that are struggling for survival after a review in April.
The exponential number of downloads can be attributed to a call by Prime Minister Narendra Modi, asking people to have the app on their mobiles, combined with the government's push for downloading of the app through other channels, reports Neha Alawadhi.
Some companies argue that the culture of staying, working and learning at home will persist for a while, altering lifestyle habits of consumers.
Argentina has assured India that it will resolve the issue of restrictions on import of Indian drugs to the Latin American country.
A day after the Patna high court slammed the Bihar government for its poor handling of the second wave of the pandemic and sought to know whether it was enforcing lockdown or not, the administration on Tuesday announced imposition of lockdown from May 5 to May 15.
"Despite subdued growth in the world economy, India has maintained a GDP growth rate of 7.2 per cent in 2014-15, 7.6 per cent in 2015-16 and 7.1 per cent during April to September of 2016-17," the commerce and industry minister said in a written reply during Question Hour in the Lok Sabha.
Aiming to push India into the list of the top 10 agri export nations, the policy has been backed by the Prime Minister's Office
Flipkart on Monday said it has entered into a commercial partnership with the Adani group to strengthen logistics and data centre capabilities of the Walmart-owned company and create about 2,500 direct jobs.
The queries can now be addressed to and their responses accessed from the makeinindia.com website that was unveiled along with the campaign aimed at making India a manufacturing hub by Modi at a mega event in New Delhi on Thursday.
Such campaigns would badly affect players in the traditional retail market.
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The Chinese government has accused e-commerce titan Alibaba Group Holding Ltd of not paying enough attention to illegal business conducted on its platforms and failing to take effective steps to snuff it out.
'The economy of Kashmir has collapsed.'
It is likely the government will divide the country into different zones during the proposed extended period of lockdown and might permit a few services to function in safe zones.
Admiral describes it as 'a path-breaking change'; defence ministry official disagrees.
Exports are expected to grow by 10-15 per cent in the current fiscal, FIEO director general and chief executive officer Ajay Sahai said.
As India looks to mend its Covid-battered economy, one thing that will grab the attention of all concerned is the path that both wholesale and retail inflation will follow. Even the Reserve Bank of India in its latest policy statement said, "Going forward, the inflation trajectory is likely to be shaped by uncertainties impinging on the upside and the downside.
Maharashtra Chief Minister Uddhav Thackeray on Sunday night announced a statewide curfew in Maharashtra for 15 days from April 14. However, he clarified, essential services were exempt from the curbs.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
The commerce ministry has sought a review of foreign direct investment policy in the pharmaceutical sector, in the light of recent takeovers of domestic companies by multinationals.
Three union ministers -- Agriculture Minister Narendra Singh Tomar, Food Minister Piyush Goyal and Minister of State for Commerce and Industries Som Prakash -- will hold discussions again with 40 farmer unions' leaders, including the Bharatiya Kisan Union which is spearheading the protests.
A closer look at the data reveals that a lot of the items are not part of this calculation. The notable ones include buffalo meat, marine exports, raw cotton, and plantation crops such as tea, coffee, rubber, etc.
Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
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