However, the government's draft policy on e-commerce companies has forced consumer companies to also adapt to the changes. For Dabur India, e-commerce channel continues to be a key driver of growth in urban India. The contribution of online sales to its entire portfolio is at six per cent compared to 1.5 per cent before the pandemic.
More important is to diversify the country's farm production base.
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).
'India should start leveraging rather than banning crypto.'
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
'The UPA was the gang that couldn't shoot straight. The NDA is the gang that can't stop shooting. They (the Modi government) are shooting at anybody, everybody, all directions, shooting themselves in the foot.'
Modi cautioning that cryptocurrency can spoil the youth.
The wet market was where a variety of live animals were traded until it was shut down following fears that the coronavirus had jumped to humans either from bats or pangolins.
Will syringe shortage puncture India's Covid vaccine plans?
Former RBI deputy governor R Gandhi on Tuesday made a case for treating and regulating crypto as a separate asset class with a view to enabling governments around the world to effectively deal with illegal activities associated with virtual currencies. After quite a lot of debate over the years, he said, people have fully understood that crypto cannot be a currency because the fundamental element of a currency- that it should be a legal tender- is missing in this case. He said that in this case, one cannot compel a crypto currency to be accepted by another person as it is not a legal tender.
At the end of October, Sri Lanka President Maithripala Sirisena handed over the deeds for the transfer of 116 hectares in Colombo Port City to China Harbour Engineering Company on a 99-year lease to build a financial centre.
Delhi Metro, Yamuna-expressway and Tata Power's Mundra ultra mega power project in Gujarat are among the six ventures that have figured in the list of world's most innovative, impactful infrastructure projects prepared by international accounting firm KPMG.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
The need of the hour, as the Supreme Court readies to rule on the constitutionality of Aadhaar, is for the UIDAI to fix the bugs, says Geetanjali Krishna, in the second and final part of her series.
Pro-growth economist Arvind Panagariya has been appointed as first vice-chairman of the newly announced NITI Aayog, which has replaced the Planning Commission.
At the customary post-Budget media interactions, Finance Minister Nirmala Sitharaman and her topmost bureaucrats touched upon a number of issues. The minister said the government taxing income from digital virtual assets did not give them legitimacy and that issue was being dealt separately in the planned cryptocurrency Bill. She also expressed confidence that the Budget targets were achievable.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
Four-nation grouping Quad on Tuesday launched a major new initiative for the Indo-Pacific that allows the partner countries to fully monitor the waters on their shores and help ensure peace and stability in the region, a move that comes amid China's increasingly intimidatory behaviour.
First Secretary Sneha Dubey gave a blistering retort to Khan in the UN General Assembly as she delivered India's strong Right of Reply from the UNGA hall, carrying on with a tradition seen over the past few years of young Indian diplomats taking on Pakistani leaders and strongly responding to their rants over Kashmir and other internal matters of India.
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Modi government has taken some interesting policy decisions in the 100 days since the time he met President Pranab Mukherjee to present his claim as Prime Minister of the world's largest democracy, says Tanmaya Nanda.
Following the outbreak, Iran has stopped Indian basmati shipments. This has led to exports already falling 18-20 per cent this fiscal year. Iran and the rest of West Asia account for the largest imports of Indian basmati, and comprise more than 30 per cent of the shipments.
Three million tonnes of buffer stock, where the government bears the interest and insurance cost, was announced by the Centre only for a year and that period is ending in June.
Modi called for a new global index based on talent, technology, transparency and trusteeship towards the planet in the post-corona world.
There is talk of a fresh approach to a new labour code as well as reforming land acquisition laws in such a way as to be politically.
Highlighting the role of MSMEs in enhancing exports and helping the country achieve self reliance, Union Minister Nitin Gadkari on Monday said India does not need to import from China. "Already in automobile sector, in many sectors now, in agriculture, automobiles, everywhere, we have already found the solutions. Now we don't need to import from China," said the minister. He observed that India was exporting a lot of items instead of importing them.
Other than Snapdeal, the four markets are Tank Road in Delhi, Heera Panna in Mumbai, Kidderpore in Kolkata and Millennium Centre in Aizawl. Snapdeal, one of India's largest e-commerce platforms, is known as a place to purchase counterfeit watches and shoes.
Why are the poor turning Right instead of turning toward far-Left parties, ponders Pranab Bardhan.
Rajesh Bhayani examines what SEBI's approval of diamond futures trading means for the diamond market players.
The Tata Sons' chief said that world's reliance on China for sourcing goods will reduce, and India will definitely have an opportunity to participate.
Indian American Aakash Dalal faces 30 years in jail after being found guilty by a New Jersey jury on charges of vandalising and firebombing North Jersey synagogues five years ago.
IMAGES from Day 1 of the Wimbledon Championships played on Monday.
The event, organised by Deutsche Messe AG, is held each year at the Hanover fairground, the world's largest, in Hanover, Germany.
India believes rich nations should be away from farm subsidies.
The Chinese authorities have been rapidly building defence infrastructure along the Line of Actual Control, indicating that they are preparing for a long period of tension with India, points out Jayadeva Ranade, the former senior RA&W officer and China expert.
'George was a politician with a difference. He had the ability to stand alone, take a position, however extreme, and sustain that position,' remembers Arun Jaitley.
What is required is boring leadership that ensures that the basics are right and not genius leadership that dreams of bullet trains, says Aakar Patel.
Overseas bourses may take similar action and stop providing data on foreign indices and commodities traded in India, Ashish Chauhan, chief executive officer, BSE said.
The reasons for the snail's pace at which the commission is proceeding are linked both to the government's indifference to it as well as the indifference of the parties appearing before it.
Modi's visit to some developed countries such as the US, Japan, China and Australia were sprinkled with humongous investment figures. But do we have the wherewithal to absorb such big investments?
We bring you a collection of some of the best photographs taken this week by ace Reuters photographers.
