So far 15 rounds of negotiations have been held.
Sitharaman cancels Myanmar trip at last moment citing launch of Modi's Jan Dhan Yojana.
The India government needs to work on policies that can enhance global trade.
Railway Minister Pawan Kumar Bansal on Thursday favoured rail-based container movement between India and Pakistan to reduce transaction cost and ease road traffic.
India on Thursday said it promotes engagement with Taiwan in several areas including trade and investment and Taipei's decision to open an economic and cultural centre in Mumbai should be seen in that context.
Prices may go up because of higher energy costs, caused by the rise in shipping charges, with commercial vessels taking a longer route to avoid the troubled Red Sea region, the finance ministry said on Monday. Iran-backed Houthi rebels of Yemen are repeatedly attacking ships in the Red Sea. While the global economy is grappling with challenges such as sticky inflation, sluggish growth, and mounting fiscal pressure, India's external sector could face "potential risks" due to the ongoing geopolitical tensions, according to the finance ministry's report on the review of the Indian economy.
The Srinagar-Muzaffarabad bus service was cancelled on Monday following the recovery of 114 kg narcotics from a truck, which crossed over from Pakistan-occupied Kashmir, triggering a standoff between the two sides.
New Delhi has reached out to Moscow while waiting for a new president in Washington. New Delhi knows well that in international relations, there are no permanent friends or foes, only permanent national interests, points out Dr Rup Narayan Das.
According to the Morcha, the demands which Delhi Chalo has been called include: MSP should be guaranteed as per C2+50 percent formula and, as promised, a law should be made to guarantee it; all the farmers should be made debt free, and all agricultural loan must be waived.
Acting Foreign Minister of Afghanistan, Amir Khan Muttaqi, on Wednesday arrived in Islamabad, his first visit to the country, as part of efforts by the two sides to reset their ties in the wake of the Taliban's takeover of Kabul.
In an address at a security conclave of the Shanghai Cooperation Organisation in the Kazakh capital, he also underlined the need for holding accountable the sponsors, financiers and facilitators of terrorism, in remarks that came amid Pakistan's continuing support to various terror groups.
New foreign trade policy to stress manufacturing exports.
It's been just nine months since the Securities and Exchange Board of India (Sebi) gave its nod to mobile trading. But the trend has caught up with trades through uniform resource locator (URL)- and wireless application protocol-based systems.
India should become a middle-income country and then push to make INR (rupee) a hard currency, and till then, it must promote the settlement of global trade in the local currency, think tank GTRI said on Sunday. Global Trade Research Initiative (GTRI) said that transforming a currency into a hard currency is a complex process that hinges on several pivotal factors. Firstly, economic stability is paramount; a country must exhibit low and stable inflation, consistent growth, and a balanced trade environment.
The retail broking industry's top line could more than double over the next five years, according to the estimates of consultancy firm Bain & Company. The industry, which facilitates stock market trading for investors, has already witnessed its revenues double from Rs 14,000 crore during 2018-19 (FY19) to Rs 27,000 crore in 2022-23 (FY23), reflecting an annualised growth rate of 17 per cent. "This growth has been fuelled by the emergence of India's mass-affluent and affluent segments, coupled with increasing financial literacy.
The income-tax department continued its searches in different places linked to an Odisha-based distillery group on charges of tax evasion for the sixth consecutive day on Monday after recovering unaccounted cash to the tune of Rs 353 crore, the 'highest-ever' haul in a single action by any probe agency in the country, officials said.
The National Stock Exchange (NSE) on Monday said failure of telecom links as well as that of storage area network system led to the outage last month and that steps are being taken to address the issues. Between primary and NDR (Near Disaster Recovery) sites, NSE said it has multiple telecom links with two service providers to ensure redundancy. In a detailed statement on the outage that happened on February 24, the bourse said various measures have been taken and others are under implementation to address the issues.
It is learnt that the US had recently presented two separate papers to India.
Ahead of his India visit on February 24-25, Trump said that India has not treated his country 'very well' on the trade front and indicated that a 'very big' bilateral deal with New Delhi may not be signed before the American presidential election in November.
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
Foreign Trade Policy: More incentives for exports, focus on ease of trading
Investors may have to wait a little longer for Unified Payments Interface (UPI)-based block mechanism in the secondary market even as the market regulator has set the effective launch date as January 1, 2024. Several brokerage firms said they may take a few months more to implement it. Investors will be able to register for this facility only if the stock broker has opted for the UPI block facility.
Saudi Arabian Crown Prince Mohammed bin Salman arrived in New Delhi on a three-day state visit during which he will hold a bilateral meeting and co-chair the first leaders' meeting of the Strategic Partnership Council with Prime Minister Narendra Modi.
In a bid to promote India as an important trading hub, the government will soon put in place free trade warehouses to facilitate international traders in export activities.
25 trucks carrying mostly vegetables from India were not allowed to cross the LoC.
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
He said law enforcement agencies are cracking down on those involved in recruitment for terrorist groups as well as narcotic dealers and smugglers.
The International Financial Services Centre Authority (IFSCA) plans to operationalise the framework for direct listing of companies at International Financial Services Centre (IFSC) exchanges by the end of the year, said Chairperson K Rajaraman. He added that the amendments would be notified within three months. Further, the GIFT City regulator is also considering the launch of separate payments system regulations - similar to that of the real time gross settlement (RTGS) for banking within a few months.
BSE's fresh shot at cracking the derivatives market is off to a promising start. However, Asia's oldest bourse is facing resistance from brokerages with nearly 10 large brokers yet to offer the relaunched Sensex and Bankex derivatives on their platforms. Many brokers maintain that they are working on the back end to enable BSE derivatives on their apps and websites. Some said while volumes are picking up, they are still miniscule compared to bigger rival NSE, which is the most-preferred venue for derivatives trading. Only a few brokers responded to formal queries sent by Business Standard on the issue of allowing BSE derivatives on their platform.
Global trends and trading activity of foreign investors would largely dictate terms in the equity markets this week amid a lack of major domestic triggers, analysts said. Markets may face near-term consolidation due to elevated valuations, they noted. "While the previous week was predominantly shaped by developments in the US Federal Reserve policy, attention will now shift to the Bank of Japan's policy decision on December 19," Santosh Meena, Head of Research, Swastika Investmart Ltd, said.
India and the US have signed an agreement to promote innovation through increasing cooperation among startups, address regulatory hurdles and share best practices on fundraising by entrepreneurs, an official statement said on Wednesday. The memorandum of understanding (MoU) on enhancing innovation ecosystems through an innovation handshake under the framework of India-US Commercial Dialogue was signed on November 14 in San Francisco. Commerce and Industry Minister Piyush Goyal is in San Francisco.
The government introduced in the Lok Sabha on Friday the Trade Marks (Amendment) Bill for simplifying the trade marks registration procedure.
The trigger that led Japan and the Philippines to ink the deal was because of the deteriorating security situation in the South China Sea. China's coast guard increased the frequency and intensity of incursions into Philippine waters, provoking the Philippines to take countermeasures to deter China, explains Dr Rajaram Panda.
Market participants do not expect any immediate impact on the rupee from the Reserve Bank of India's (RBI's) a "comprehensive" master direction aimed at strengthening the framework for hedging foreign exchange risks. RBI Governor Shaktikanta Das, in his monetary policy statement, revealed that the central bank is poised to issue a master direction to consolidate guidelines for all types of forex transactions. But this development, according to market players, is more of a directional guidance than a mandatory directive.
'Investing abroad helps mitigate currency risk for foreign-currency denominated goals, such as children's higher education and international travel.'
Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK, to be signed off at a virtual summit between Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. The investments confirmed by Downing Street on Monday evening form part of an Enhanced Trade Partnership (ETP), which will set the ambition to double the value of UK-India trade by 2030 and declare a shared intent to begin work towards a comprehensive Free Trade Agreement (FTA). "Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Johnson said.
After a gap of more than 13 years, the National Commodity and Derivatives Exchange (NCDEX) is all set to launch a futures contract in groundnut (in shell) to fill a void in oilseeds complex futures because of a ban in several high-volume commodities.
Still, the failure of the agreement should signal a move away from monolithic single undertaking agreements that have defined the body for decades.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
From the seas to the stars, this partnership will now be deepened by the defining role of technology, the statement said.
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