Doesn't matter if Enron or Lehman didn't tell the truth - they aren't Indians, says Sunanda K Datta-Ray.
India's exports, after declining for over a year, are expected to improve in the coming months even as global slowdown continues, Commerce and Industry Minister Anand Sharma said on Wednesday.
After the heat it faced on climate change stand for the Copenhagen summit, the government on Tuesday came under scanner as the Opposition felt that India might come under US pressure on the trade talks in WTO.
In an open letter to Prime Minister Manmohan Singh and to Union Commerce Minister Anand Sharma, the industry body has outlined its view on the climate change negotiations based on Indian industry's feedback and called for the prime minister to urge the developed world to provide technology transfer and funds to help mitigate the crisis.
The Congress suggested there was cash stashed in the trunk.
Senior Indian Foreign Service officials Sharat Sabharwal and Meera Shankar will be the next envoys to Pakistan and the United States respectively. Sabharwal, Special Secretary in the Ministry of External Affairs, will succeed High Commissioner Satyabrata Pal, who reaches superannuation on February 28. Shankar, India's Ambassador to Germany, will succeed Ronen Sen in Washington.
Replying to supplementaries in Rajya Sabha during Question Hour, commerce minister Anand Sharma said, "There can be no negative impact of organised retailing on unorganised sector as 96 per cent of retail business is in unorganised sector.
While several opposition parties criticised the move, Union minister Prakash Javadekar said the Parliament session is being held under special and extraordinary circumstances.
"Our government is fully committed to an early breakthrough in the Doha agreement based on the December 2008 draft texts in agriculture and industrial goods. It must be a balanced agreement that addresses the legitimate concerns of developing countries," Commerce Minister Anand Sharma said.
Commerce Minister Anand Sharma has issued several signals about his government's commitment to conclude the Doha talks, saying it is a priority issue for New Delhi. While many industrialised countries, including some developing nations, praised Sharma for adopting a conciliatory stance to break the 'impasse,' other members in the developing world are apprehensive about New Delhi's stance, especially its discussions with the US trade representative, trade envoys said.
Sheela Bhatt explores and explains the Rahul Gandhi phenomenon and what it means for the Congress party and the nation's politics.
Union Commerce and Industry Minister Anand Sharma has warned countries trying to introduce protectionist measures that this would not only be counter-productive, but also deepen the recession and delay recovery.
The recession hit US today said it wants to enhance dialogue with India on key trade policy issues, including the bilateral investment treaty under negotiation.
The government's disinvestment programme made a muted re-start with the Cabinet Committee on Economic Affairs approving the part-sale of its stake in two power companies -- NTPC and Satluj Jal Vidyut Nigam -- but postponing a decision on the overall disinvestment policy.
Faced with slump in demand in key markets such as the US and Europe, India's exports plunged by 30 per cent in May as per the quick estimates, given by commerce secretary G K Pillai. The final figures will be released on July 1. Exports fell the most in 14 years by 33.2 per cent in April to $10.74 billion in April 2009-10, from $16.08 billion a year ago.
Data on primary and fuel items would continue to be released on weekly basis.
Goyal is expected to discuss the targets for the banks for 2019-20, as well as priority sector lending, recovery on non-performing assets, and the bankruptcy proceedings of various companies, which owe money to the banks.
India and the United Kingdom have agreed on the text of a landmark civil nuclear agreement and a formal pact may be signed within a week, Britain's Business Secretary Lord Peter Mandelson announced on Thursday. "The civil nuclear deal text has been agreed to and it will be signed soon, may be within a week after ministerial approvals," Lord Mandelson told a joint press conference with Commerce Minister Anand Sharma.
Parliamentary affairs minister Ananth Kumar also attacked the Congress, which had not opposed the bill in Lok Sabha but voiced its strong opposition in the Upper House.
The centre will be cautious in withdrawing the fiscal stimulus packages given to key-sectors and will do so only after ensuring growth is sustainable in the economy, Union Minister for Commerce and Industry Anand Sharma said.
India's exports grew by 9 per cent to $14.6 billion (around Rs 66, 250 crore) in December.
The zero-duty EPCG scheme is in addition to the 3 per cent EPCG scheme that was introduced last year.
These may weaken India's long-standing demand of easy, flexible rules.
The five-year Foreign Trade Policy, to be unveiled on August 27, is expected to give incentives to Indian exporters to widen their global markets beyond the United States, the European Union and Japan in the face of the economic crisis in these key destinations.
The pact on trade in goods under the Comprehensive Economic Cooperation Agreement was signed by Indian commerce and industry minister Anand Sharma and ASEAN economic ministers after more than six years of intense negotiations.
Trinamool members trooped into well of the House immediately after the upper House assembled.
Exporters, facing slump in demand in the major markets of the US and EU, are expecting incentives in the foreign trade policy, to be unveiled in the second half of the month. The FTP broadly spells out the segments of priority in external trade and also gives incentives and disincentives, depending on the country's needs.
India was fourth in 2008, in terms of FDI inflows, among developing countries, he said referring to UNCTAD World Investment Report (WIR) 2009.
A senior BJP leader said its top brass, including Prime Minister Narendra Modi, is 'upset' with the sixth-term Lok Sabha MP, who was a minister in the first Modi government, and the Karnataka leader has been asked to take remedial measures, including tendering an apology.
But the government rejected their demand and instead promised to hold an internal inquiry.
"... An early conclusion of Doha Round is important; India is willing to take part in negotiations at the WTO provided the core concerns of the Round, namely development concerns of developing nations are addressed," commerce and industry minister Anand Sharma told Rajya Sabha.
Batting for the worried SEZ developers who fear withdrawal of incentives in the new direct tax code, Commerce and Industry Minister Anand Sharma on Friday said his ministry would ensure that the sops continue.
"Any country shouldn't be giving military aid to Pakistan until it works effectively in a demonstrative manner to dismantle the terror infrastructure," Minister of State for External Affairs Anand Sharma told media-persons in New Delhi.
In reply to a Rajya Sabha question, minister of state for information and broadcasting Anand Sharma stated that the Telecom Regulatory Authority of India had informed that a comparison of entry level package prices of a few DTH operators with CAS offerings reveals that DTH pricing in the country are not exorbitant.
Deadlock in Rajya Sabha continued for the fourth day on Thursday as opposition kept demanding a reply by Prime Minister Narendra Modi on a debate on religious conversions, which the government steadfastly rejected.
The minister addressed the Global India Business Meeting organised by the Federation of Indian Chambers of Commerce and Industry in the German city. CEOs of leading firms from India, Germany, the US and Saudi Arabia, including Siemens, Volkswagen, AirAsia, Bajaj Auto, Genpact India and Infosys attended the conclave.
Union Health Minister Harsh Vardhan on Thursday said the government was aiming to bring down India's Covid-19 mortality rate to less than 1 per cent from the current 1.64 per cent, which is still the lowest in the world.
Commerce and industry minister Anand Sharma warned against protectionist measures resorted to by developed countries saying those measures would further deepen recession and delay a recovery in the world economy.
Several opposition members, including from the Dravida Munnetra Kazagham and the Communist Party of India-Marxist, also pointed out that the government took almost two months to impose the lockdown after the first case came to light in January, and claimed the delay had proved costly.
For the second time since Press Note 2 and 4 were issued in February 2009, the Department of Economic Affairs in the finance ministry has raised questions on their implementation, this time over an application before the Foreign Investment Promotion Board.
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