The members of the advisory panel, which was constituted by the West Bengal School Education Department in November, 2019 for monitoring pending recruitments of teaching and non-teaching staff in the schools, were questioned by CBI sleuths earlier.
E-commerce firms Amazon, Flipkart, and others are expected to witness blockbuster festival season sales of around $9 billion this year, surpassing pre-pandemic sales of $5 billion in 2019. The pandemic has accelerated the shift to e-commerce, with more consumers shopping online at a higher frequency than last year, observed analysts. This year's festival sales (gross merchandise value or GMV) are expected to grow 30 per cent year-on-year (YoY) to $4.8 billion during the first week of the season and potentially clock over $9-billion GMV during the whole festival month, revealed consulting firm RedSeer's e-commerce festival season report.
The country's exports for the first time crossed the $400 billion mark in a fiscal on healthy performance by sectors such as petroleum products, engineering, gems and jewellery, and chemicals, according to the commerce ministry's data released on Wednesday. The merchandise exports rose by by 37 per cent to $400.8 billion in 2021-22 until March 21 against $292 billion in 2020-21. Previously, the outbound shipments had touched a record of $330.07 billion in 2018-19.
'The inflection point that really happened in the sector was during the pandemic when buyers' perception changed towards consumption and that gave a trigger to pent-up demand with the increased affordability.'
Finance Minister Nirmala Sitharaman on Wednesday said she has requested banks to work with all state governments to push the 'one district, one product' agenda. Banks have also been requested to have interaction with export promotion agencies, chambers of commerce and industry to understand and address the requirement of exporters on a timely manner, Sitharaman said while addressing the media in Mumbai on Wednesday.
The company wrote to the Buddhadeb Bhattacharjee-led Left front government seeking clarification on the agreement in the wake of conflicting reports about the return of project land to farmers. A Tata group spokesperson confirmed that the company had written a letter to the government.
The West Bengal government has accorded permission to the Tata Motors officials to carry on initial work in the land at Singur earmarked for its Rs 100,000 small car project.
Not a single opposition party is saying it is against industrialisation and this reinforces our belief that people are not against industrialisation as a concept
Union home secretary Ajay Bhalla issued an order excluding the non-essential items from sale by the e-commerce companies from the consolidated revised guidelines, which listed the exemption given to the services and people from the purview of the lockdown.
Banerjee slammed the opposition for a "malicious campaign" launched against her, asserting that she does not support corruption.
Since the first Aadhaar number was issued in September 2010, more than 1.33 billion Aadhaar cards have been generated till June 2022. With the Aadhaar enrolment of adult Indians nearing 100 per cent, the main objective of the Unique Identity Authority of India (UIDAI), which was to give Unique Identification numbers (UID) to all residents of India, is almost achieved, said a senior government official. "Enrolment will now be much more update-based, because people keep updating their mobile numbers and addresses.
Shareholders of Tata Sons, the holding company and promoter of Tata group companies, have approved the reappointment of N Chandrasekaran as chairman for another five-year term despite its single largest shareholder the Shapoorji Pallonji family abstaining from voting, according to sources. In February this year, the Board of Tata Sons had approved the reappointment of Chandrasekaran as executive chairman for another five years till February 2027, subject to shareholders' approval. At the shareholders meeting held on Monday, the proposal for Chandrasekaran's reappointment for a second term needed more than 50 per cent of votes as it was an ordinary resolution.
Maruti Suzuki India (MSI) on Thursday said its new manufacturing facility in Haryana, the company's third in the state, would reach peak production capacity of 10 lakh units per annum in the next eight years entailing a total investment of Rs 18,000 crore. The new facility, which would come at a 800-acre site at IMT Kharkhoda in Sonipat district, will entail total investment of Rs 11,000 crore in the first phase with a production capacity of 2.5 lakh units per annum. The first set of vehicles are expected to roll out from the facility in 2025.
After a marathon meet (lasting over two and half hours) with Bhattacharya and state Commerce and Industry Minister Nirupam Sen, Tata and the chief minister fielded questions from the media.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
Ajit Balakrishnan offers a thinking man's guide to the state of ecom in a nation of shopkeepers.
Calling for public cooperation to the government's efforts to stem the spread of the virus, Stalin urged people to follow due protocol like social distancing and wearing of masks.
Afghan President Dr Mohammad Ashraf Ghani will be paying a three-day state visit to India beginning on Monday, during which he would meet Prime Minister Narendra Modi and attend delegation-level talks.
Subdued demand from developed countries and blocs like the US and EU is impacting exports of key sectors including engineering, gems and jewellery and may have implications on India's exports in case the global situation does not improve in coming months. Global inflation, Russia-Ukraine war, simmering China-Taiwan crisis and supply disruptions are hurting economic growth worldwide, leading to poor demand, experts say. The world merchandise trade volume is expected to grow 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, according to the World Trade Organization forecast, released in April.
Once stability returns to the secondary market, companies that have obtained approval from Sebi will start tapping the market.
Sen said that as per the lease agreement, concluded recently with the company, it would have to pay a lease rent of Rs 1 crore per year for the first five years to the state.
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.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
It is the season of cooking and baking, but with Amul Butter in short supply, consumers aren't like the cat that got the cream. A shortage only means market shelves without butter on them. "There is a supply-side deficit. "We are now able to procure only two packs of butter a day, as opposed to three packs (each containing 30 packets of butter) in a day," says a salesman at Modern Bazaar, a departmental store in New Delhi's Greater Kailash.
'The sixth seat was a risk for the MVA, but Uddhav Thackeray took the risk,' Pawar said. 'In politics, one has to take risks.'
State commerce and industry minister, Nirupam Sen, and secretary, Sabysachi Sen are in Mumbai and have held a series of meetings with industrialists in Mumbai, including Tata group chairman, Ratan Tata, Mukesh Ambani of Reliance and Ashok Hinduja of the Hinduja group.
The announcement of Murmu's candidature by BJP president J P Nadda came a day after she celebrated her 64th birthday.
The government has held several meetings with e-commerce players to resolve issues arising due to the lockdown, and now witnessing improvement on them daily, a top government official said on Friday. Secretary in the department for promotion of industry and internal trade (DPIIT) Guruprasad Mohapatra said that with lot of follow-ups on their issues, relaxations were given to them by the home ministry.
SoftBank-backed internet commerce firm Meesho has downsized its grocery vertical Meesho SuperStore (formerly Farmiso) in an attempt to drive efficiency. The Bengaluru-based firm did not reveal the number of laid-off employees. However, the company officials said that about 150 employees have been laid off.
The Narcotics Control Bureau has seized about 50 kg of 'high-quality' heroin and arrested a man after it conducted raids in the Shaheen Bagh area of Delhi's Jamia Nagar, the federal anti-narcotics agency said on Thursday, claiming to have busted an Indo-Afghan drug-smuggling racket.
Reacting sharply to the proposal by some US states to ban outsourcing of state data processing contracts to developing nations, Union Law and Commerce Minister Arun Jaitley said the move was against the principle of market access.\n\n\n\n
The company's plan was conveyed by IKEA chief executive officer Mikael Ohlsson, who met Commerce and Industry Minister Anand Sharma in New Delhi on Monday, sources said.
Commerce and Industry Minister Kamal Nath has said that a broad political consensus was necessary on the deal. Nath pointed out that it was because of this consensus that economic reforms have continued despite changes in governments and prime ministers. He said that it needs to be looked more as an energy deal rather than nuclear deal. To ease the tight power situation, he said India is looking for clean coal technology as also alternative sources of energy.
Inaugurations and foundation-stone laying ceremonies might have been low-key but that doesn't mean Tamil Nadu stood still while J Jayalalithaa was out of office, Aditi Phadnis opines
Days after completing a $6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government's infrastructure creation push, which will give significant margin expansion. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country.
A decision to tap the 30 countries for exporting wheat was taken at a meeting of the commerce ministry on Thursday.
Drones are being sold by e-retailers like Flipkart and Snapdeal for less than Rs 40,000 apiece.
'The finance ministry and the RBI will never admit to the difficulties in the economy because if they do so, it will adversely impact the financial markets, etc.' 'They like to present a rosy picture that everything is fine and under control.'
The Make in India Week has become a platform for two Bharatiya Janata Party (BJP)-ruled states to jostle for the number one destination in India for investor funds.
Syed Abdul Mueed is the third son of the Hizb chief to have been sacked from the government job.
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