The U.S. economy grew faster than initially thought in the second quarter.
National Security Advisor Ajit Doval will hold crucial talks with the top US leadership, including his counterpart Jake Sullivan, on the first high-level dialogue on Initiative for Critical and Emerging Technologies (iCET).
GVK Biosciences is the latest Indian firm to come under international scrutiny over quality issues.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
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.
Juster, who is the Deputy Assistant to the US president for International Economic Affairs and Deputy Director of his National Economic Council, would replace Richard Verma if nominated and confirmed by the Senate.
Probe has allegedly found calculation errors by Amazon. The company paid higher GST but instead of claiming refund took wrong input tax credit.
Syed Abdul Mueed is the third son of the Hizb chief to have been sacked from the government job.
The MFN (Most Favoured Nation, meaning non-discriminatory treatment for each other) issue is of prime importance to India, as it wants to have greater access in the Pakistani markets.
The department for promotion of industry and internal trade (DPIIT) has set up a control room to monitor in real-time the status of transportation and delivery of essential commodities amid the coronavirus lockdown in the country. It will also monitor the difficulties being faced by various stakeholders during the lockdown period from March 25 to April 14.
Not displaying the mandatory information, including country of origin, on products sold on their platforms in India, draws government's attention.
Shashi Tharoor has also been retained as the chairman of the panel on Information Technology.
The Centre has recovered around Rs 95.86 crore from at least 11 crypto exchanges for evading goods and services tax (GST), according to data released by Parliament on Monday. The amount includes interest and penalty. The GST investigation department has detected a total tax evasion of Rs 81.54 crore by crypto exchanges that include WazirX, Coin DCX, CoinSwitch Kuber, Buy Ucoin, UnoCoin and Flitpay, among other exchanges. In a written reply to Lok Sabha, minister of state (MoS) for finance Pankaj Chaudhary said 11 cases of GST evasion by cryptocurrency exchanges have been detected by central GST formations.
The Modi government finds itself in a contradiction of its own making. It has encouraged pro-Russian, Westophobic public sentiment while setting strategic policy that's exactly the opposite, points out Shekhar Gupta.
Though the US has got together a number of vetted and potential Indian business partners, most of these companies say they haven't had much luck in stitching up deals to tap into India as an export market for their goods.
As the United States focuses on the Indo-Pacific, in particular the Quad, the Biden administration needs to address India's ties with Russia and its 'downward trend of democratic values and institutions', said a report by the Democratic Party of the Senate Foreign Affairs Committee.
The government has decided to postpone the release of the new Foreign Trade Policy (FTP) and extend the existing one by six months on account of global uncertainties and currency fluctuations. The government was scheduled to announce the new FTP by the end of September. The current policy was to end on September 30.
The US side had pushed for removal of price caps on medical equipment such as coronary stents and a commitment by India to reduce trade imbalance
While an official in the Commerce Department indicated a trade war was in the offing, till now the government has been in wait-and-watch mode.
While the UN report said that FDI inflows rose 6 per cent in 2018 to $ 42 billion, the government's own data for the entire FY19 period has shown that inbound equity investments declined for the first time in six years in FY19.
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking "necessary action" against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
India has secured approval of the United States Department of Agriculture (USDA) for the export of domestic mangoes to America in the new season, the commerce ministry said on Tuesday. The export of Indian mangoes has been restricted by the US since 2020 as the USDA inspectors were unable to visit India for inspection of irradiation facilities due to restrictions imposed on international travel because of the COVID-19 pandemic. On November 23, 2021, the Department of Agriculture and Farmers Welfare and the USDA signed a framework agreement for implementing the "2 Vs 2" agri-market access issues.
National Security Advisor Susan Rice, influential business leaders and a host of other lawmakers, including Indian-American Congressman Ami Bera, would be travelling with President Barack Obama to attend India's Republic Day celebrations.
The government, in February, had released the draft national e-commerce policy proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
The issues around trade gaps, especially around steel and aluminium tariffs imposed by the US, will be addressed separately.
The US trade deficit narrowed less than expected in October as lower crude oil prices failed to offset a jump in imports, while an increase in exports suggested the economy was weathering faltering global demand.
The report by the High Level Advisory Group said India stands to benefit even more when the US and China are locked in a global trade war.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
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.
'Despite being limited to my house, I was able to interact with a diverse set of people, to try and understand consumer behaviour.'
Currently, India imposes 30-45 per cent duty on textile products from Pakistan.
Idea is to bring stakeholders together and explore ways to increase export of services from India.
As per norms, sanction for prosecution of government employees accused of corruption has to be given within four months' stipulated time.
On July 21, the former Jharkhand governor Murmu registered a historic win over her rival Yashwant Sinha in the Presidential election, becoming the first woman tribal candidate and the second woman in the country to occupy the highest office in the country.
Infosys chairman and Aadhaar architect Nandan Nilekani will join a panel set up by the central government, along with eight other members, to advise the government on designing and accelerating adoption of Open Network for Digital Commerce (ONDC), aimed at curbing digital monopolies. The larger idea is to give 'free and fair' choice to consumers to buy products on an online platform, a senior government official said.
Among other things, the e-commerce players will have to display the total 'price' of goods and services offered for sale, mention the 'expiry date' of goods and the 'country of origin' of goods and services.
Shipments from Russia rose nearly 33 per cent to $1.1 billion in March from $831.17 million in the previous month, which was when the country mounted aggression on Ukraine and faced sanctions from Western nations, the data accessed by Business Standard shows. Growth in imports was largely on account of oil, people aware of the matter said. The Department of Commerce is learnt to have written to the Ministry of Petroleum and Natural Gas (MoPNG), seeking details of imports, including the payment mechanism, which India has not made public.
E-commerce giants such as Amazon, Netflix and Flipkart, whose headquarters are not in India, potentially have to pay the additional levy of 2 per cent from April 1.
South China regions including Guangdong, Hainan and Guangxi Zhuang Autonomous Region were affected by strong gales and heavy downpours on Sunday morning.
