Even as the industrial cycle has ground to a halt during the 21-day lockdown, the industry has been hit hard by foreign orders from major clients in the US and Europe being cancelled. Also, a sudden lack of labour has crippled the sector because of a mass exodus of workers from industrial units to the hinterland.
The 'angel tax' provision in the Finance Bill will not impact startups in India, a senior government official said on Tuesday. Startups which are registered with the Department for Promotion of Industry and Internal Trade do not come under the purview, Anurag Jain, the secretary in the department said while speaking at the IVCA Conclave. "Let me put one thing very clearly. It doesn't affect startups in the least," he said, addressing the audience at the event organized by the venture capital industry lobby grouping.
Import growth moderated to a four-month low, owing to sharp decline in that of gold.
So far, WTO members have jointly respected and honoured the Bali commitments.
The WTO has resumed work at Geneva from September 1 after a month long vacation.
All companies that have 50% or more employees from outside the US to pay a higher visa fee of $10,000 for each such staffer, against $4,500 at present.
As hard bargains continue for the next four days at the picturesque tourist resort of Indonesia, the ministers., including from the influential developed countries will try and reach agreements on providing windows to the developing nations for their food security programmes and a pact to free the global trade from the procedural hassles at the customs.
Imports rise at highest pace in more than 2 years as crude oil price spikes.
The US hails the landmark 'India-Middle East-Europe Economic Corridor' which will usher in a new era of connectivity from Europe to Asia and will stimulate economic growth across the two continents.
Emphasising that various issues are on agenda at the G20 under India's leadership.
In the document, Russia underlined that it will build on a privileged strategic partnership with India with a view to enhance and expand cooperation in all areas on a mutually beneficial basis.
India is in no danger of crossing the 10 per cent threshold of food subsidies under the WTO's agreement on agriculture and it will not breach the level in the near future.
India believes rich nations should be away from farm subsidies.
One of the beneficiaries is Jindal Steel and Power, which had earlier been kept out of procurement for rails
The Central Consumer Protection Authority (CCPA) on Wednesday said it has imposed a penalty of Rs 1 lakh on e-commerce firm Flipkart for allowing sale of substandard domestic pressure cookers on its platform, in violation of mandatory standards. Headed by Chief Commissioner Nidhi Khare, the CCPA has directed Flipkart to recall all such 598 pressure cookers sold on its platform, reimburse their buyers, and submit a compliance report within 45 days. The central government routinely notifies the Quality Control Orders (QCOs), specifying compulsory conformity to a standard and use of the standard mark for a product to protect consumers from the risk of suffering injury and harm and in the interest of the public at large.
The WTO dispute panel had its last hearing in early May.
Major General S C N Jatar, who passed into the ages on Monday night, thwarted anti-national forces at the peak of the Assam agitation. Colonel Anil A Athale (retd) salutes this officer and gentleman.
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The rupee has fallen almost 20 per cent in the first four months of FY14, forcing the government to consider raising import duties on gold and non-essential luxury items.
The government on Friday put on hold the preferential market access (PMA) policy that provided for sourcing of sensitive telecom and electronic equipments and technology from domestic manufacturers over security concerns.
The differences between the rich and developing nations have always been at the core of the World Trade Organisation, set up in 1995 to facilitate greater trade flows across the world, and it came as a major breakthrough when the US and India reached a deal over food security issues in 2014.
'Only then will we withdraw the agitation.'
Govt mulls raising duty on non-essential goods with annual import bill exceeding $1 billion
The Indian government has demanded that the year be changed to a more recent period, taking into consideration the rise in food prices and rate of inflation.
August 23, the day the Chandrayaan-3 lander touched down on the lunar surface, would be celebrated as 'National Space Day'.
The five-nation grouping BRICS on Tuesday resolved to combat terrorism in all its forms and manifestations, including the cross-border movement of terrorists, and vowed to step up joint efforts in building support for an India-backed global framework to effectively deal with the menace.
Former Union minister Suresh Prabhu would be India's Sherpa at the 14th meeting of the world's top economies in Osaka, Japan.
Announcing his tax reforms Trump said his policies would benefit working families.
"In 47 years, Joe did none of the things of which he now speaks. He will never change, just words!" Trump tweeted his first reaction to Biden's acceptance speech on Thursday.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
If prices remain low the next decade might well see global trade stagnate.
Pro-growth economist Arvind Panagariya has been appointed as first vice-chairman of the newly announced NITI Aayog, which has replaced the Planning Commission.
Exposure to higher air pollution levels for several hours a day can increase insulin resistance in the body and further affect those with diabetes, says diabetologist Dr Manoj Chawla.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
'At this point, it does not appear to be a Lehman Brothers kind of crisis, which had a domino effect on the financial system.'
He underlined that Lok Sabha election results in India show that the Modi government kept alive and strengthened the 'expectation of change' in the country.
Arvind Subramanian, a senior fellow at the Peterson Institute for International Economics, was informally recommended to the post by Finance Minister Arun Jaitley.
The 'Together At Home' series will provide fans an in-depth look into how MMA athletes are living through the coronavirus outbreak, as well as offer engaging home fitness workouts on April 18 and 19.
Dispute over IPR was a bone of contention in bilateral ties till a couple of months ago.
Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform oriented.
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
