Contrary to expectations, the new business premium (NBP) of life insurance companies dropped 12.62 per cent year-on-year (YoY) in March 2023 due to an over 30 per cent drop in Life Insurance Corporation (LIC) of India's premiums, albeit on a high base. Data released by the Life Insurance Council shows the industry racked up NBP of Rs 52,081 crore in March 2023, compared with Rs 59,608.83 crore in the year-ago period. NBP is the premium acquired from new policies in a year. It is the sum of the first-year premium and single premium, reflecting the total premium received from new businesses.
In a pre-budget memorandum, submitted to the Union Finance Minister, P Chidambaram, the US India Business Council said it was concerned over the several recent policy initiatives of the Indian government in this regard.
Patricia Hewitt, chair, UK India Business Council and former UK minister, spoke on a number of government initiatives and investment sentiments.
Reuters reported earlier this week that the Competition Commission of India (CCI) has sent a warning notice to the companies expressing concern that the merged entity will effectively have a monopoly on cricket broadcast rights worth billions of dollars, allowing it to squeeze advertisers.
The Ministry of Micro, Small and Medium Enterprises (MSME) has received "positive" feedback from industry regarding the 45-day payments cycle for MSMEs, according to a senior official familiar with the matter. The comment assumes significance amid concerns raised by some MSMEs that big companies may stop buying from small and medium suppliers and instead choose to make purchases from unregistered enterprises.
The diplomat made the remarks replying to lawmakers' questions on New Delhi abstaining from several UN vote on Russian aggression against Ukraine.
USIBC President slams India for suspending its decision to open the multi-brand retail sector to foreign direct investment.
Pointing out the instance of Kharge entering the Well of the Rajya Sabha on Friday, Dhankhar said, "It was extremely painful to notice that even the Leader of the Opposition walked into the Well of the House and that was a disgrace to parliamentary conduct and proprietary."
US Commerce Secretary Carlos Gutierrez has said that with the signing of the historic and landmark US-India civilian nuclear deal it is now imperative that India move quickly to enact nuclear liability protection to envisage the private sector of both countries to engage in business.
After remaining in the positive zone for three months, India's exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.
'China is India's primary strategic challenge, which will not go away.
"Canada must evolve fast track system for business and student visas and create its brand name in India," Indian High Commissioner to Canada R L Narayan said. He was addressing an international education conference organised by Canada-India Business Council along with Shastri Indo-Canadian Institute.
USIBC urged a serious evaluation of a more specialised bilateral economic arrangement.
India Inc's India's Business Confidence Index has gone up by 5.4%.
Ron Somers, president, US-India Business Council, which lobbied to get the US-India nuclear technology deal approved, like the rest of the American business fraternity, is upset by India's recent purchase of nuclear reactors and sophisticated technology and weaponry from Russia.
'BJP and RSS may have differences over minor issues but their hearts long for one common aim -- that of A Hindu Rashtra.' 'And this time to prove this point the RSS has prepared to help BJP win this election with all its might.'
India should be given credit for helping America recover from the economic crisis, says S Jaishankar, India's new Ambassador to the US.
There is deep angst and growing concern by America Inc, over India's Preferential Market Access policy and fears that as a quid pro quo, lawmakers in the US Congress may limit or even prohibit the free movement of Indian technical professionals, including quashing efforts to expand the H-1 B visa program.
Prime Minister Narendra Modi will move the motion today in the Lok Sabha to choose Om Birla as the Speaker of the lower house amid a tussle for the post with the opposition's Indian National Developmental Inclusive Alliance (INDIA).
Sharma said both US President Barack Obama and Indian Prime Minister Manmohan Singh are firmly committed to take this relationship to greater heights.
UK has launched an initiative called 'Next Generation India' to boost India-UK trade relations and encourage NRI entrepreneurs.
The way video is being watched and monetised is changing. This is the first thing that stands out as the penetration of smart TVs continues to rise.
Industry sources told India Abroad they wouldn't shed any tears if the legislation died in the House.
Arguing that the 'extraordinary economic growth that has in fact been taking place between the United States and India,' that has translated 'into thousands of jobs created in both countries, has 'sometimes been lost in the distraction of the daily headlines,' is the focus of a major report officially launched by the US-India Business Council titled 'Investing in America, How India Helps Create American Jobs.'
Noting that India's rapid growth is a critical engine of global economy, PepsiCo chief Indra Nooyi has said the business community in the United States was eager on playing an active role in the country's future economic development.
At a time when none in Kerala's Left politics questioned the chief minister's authority, MLA P V Anvar hurled a series of accusations against Pinarayi Vijayan's government, notes Shyam G Menon.
IPL's Governing Council will have a meeting with the owners of all 10 franchises in Mumbai on Wednesday to discuss the various key issues of this year's players auction.
United States has asked India to deliver the commercial promise of the historic civil nuclear agreement between the two countries.
The US Chamber of Commerce has written the President complaining of India's discrimination against a wide range of US exports.
Like in any expanding relationship, there will always be transactional issues to address between the two sides, says Rao.
India open for investment; US ready to move in: USIBC chief.
Aziz Haniffa reports from Washington, DC, on a summit designed to transform India's education.
Speaking at a summit organised by the US-India Business Council in Washington DC, Secretary of State Hillary Clinton pushed for stronger economic and diplomatic ties between the United States and India.
The 49-year-old entrepreneur oversees the media and real estate arm of Dempo Industries as its executive director.
USIBC wants Obama to raise America Inc's concerns with Manmohan Singh.
The Coalition would continue the work begun by USIBC's Trade and Investment Initiative in 2007.
The stock of the country's largest passenger vehicle maker, Maruti Suzuki India (MSIL), has been hitting successive all-time highs over the past three trading sessions. The rally in the scrip has helped it notch over a 21 per cent gain since the start of February, outperforming the National Stock Exchange Nifty Auto Index. The gains for the leader of small passenger cars have been more recent, as the company still trails the Nifty Auto over one- and two-year periods.
In a meeting hosted by US India Business Council on Thursday night, the American industry leaders also discussed with Subbarao the need for maintaining 100 per cent foreign ownership of wholly-owned subsidiaries, and transparent priority sector lending norms.
Yet another US trade delegation to India to seek beach-head on the envisaged energy market.
'You have to explain to them about Indian investments in the US creating jobs this reverse outsourcing'
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