As the Union government explores ways to restrict import of laptops and other electronic devices starting with a 5 per cent reduction from the current level, it is working to ensure that there's no supply disruption in India even if an import cap is introduced, it is learnt. The caveat assumes significance in the context of the government's announcement of its plan in August 2023 to issue licences for import of select IT hardware products to reduce the country's dependence on China.
Even as the government today gave Saurabh Chandra, secretary, department of industrial policy and promotion (DIPP), the additional charge of secretary, Department of Commerce, Dinesh Kumar Mittal has emerged as the front runner for the post.
The commerce and industry ministry has informed the Prime Minister's Office that the Bharti Group has conveyed to the government that its joint venture with Wal-Mart was in compliance with the existing FDI policy.
'The FSIB will conduct interviews for the SBI chairman position on May 21-22 as the tenure of the current chairman Dinesh Kumar Khara is scheduled to end by August.'
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
An unconscious United States Secretary of Commerce John Bryson has been hospitalised with injuries after he allegedly caused a series of traffic accidents in Los Angeles, the police said on Monday
He drew the roadmap of India's economic reform, unshackled it from the licence raj and pulled it back from the brink when even its gold reserve was pledged.
The commerce department has said that earnings through the new tax will equal the losses faced by Indian industry after the US tariffs on steel and aluminium.
The Income Tax department has trained its scanner on the burgeoning 'e-commerce' business in the country.
The government-backed Open Network for Digital Commerce (ONDC) is likely to start levying user charges in the current financial year.
Sukanya Verma gives you some interesting options to choose from.
"Not a single step has been taken by this government to empower small businesses in India," says Praveen Khandelwal, national secretary general of the Confederation of All India Traders and former treasurer of the Bharatiya Janata Party's Delhi unit.
The government is planning to tweak its procurement policy to give a fillip to domestic manufacturing. The industry department has floated a proposal to raise the minimum local content requirement for public procurement for Class-I and -II suppliers from 50 per cent currently to 70 per cent, and 20 per cent as of now to 50 per cent, respectively.
Following the disengagement, both sides will soon start the coordinated patrolling in their respective areas, sources added.
Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
After 100% FDI, DIPP has put a condition an e-commerce entity will not be permitted more than 25% of sales through its marketplace from one vendor or their group companies
Private labels remain big business for e-commerce marketplaces. They comprise almost 15 per cent of the total business of such firms.
Though the government has been pushing for exports of high-value manufactured goods across major markets in place of raw materials and input goods, India's top exports to China remain in the raw materials category.
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Government seeks stakeholders' comments by Jan 30 on discussion paper.
Here is the complete list of ministers in Modi 3.0 and their portfolios:
Exports to India's key markets - the US, the United Arab Emirates, China, Singapore, Bangladesh and Germany - witnessed a sharp decline, resulting in a 12.69 per cent contraction in outbound shipments during the first month of the current financial year, commerce department data showed. India's biggest export market - the US - with 17 per cent share witnessed 17.16 per cent contraction at $5.9 billion in April. This was followed by the United Arab Emirates (UAE) that saw 22.09 per cent decline at $2.23 billion exports.
Some companies are already seeking review of the new norms.
In order to counter the growing penetration of e-commerce portals, the ICT industry in Gujarat is also mulling initiation of its own portal for selling products.
He also pointed out the high sums earned by the coaching centres leading to the commercialisation of education.
ICT products make up a minuscule $ 407 million, out of the $ 35.54 billion of total inbound shipments from the US, as of now.
Before he came to the US, he also held senior positions internationally for Levi-Strauss & Co, Unilever and the Colgate-Palmolive Company.
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
Of the Rs 1.97 trillion that the government intends to spend on all 14 production-linked incentive (PLI) schemes, around Rs 41,000 crore remains unutilised as of now, according to a senior government official. This means that 80 per cent of the total allocated amount, or Rs 1.56 trillion, will be used to pay incentives to companies eligible to claim benefits over the next few years. The unutilised amount/savings result from undersubscription, lukewarm responses in the case of schemes such as textile, as well as a reduction in the allocation of schemes.
With the US Department of Commerce finding that $514 million of Chinese aluminium products imported in 2009 were unfairly subsidised, a key Senator has alleged that China continues to manipulate its currency.
The move is aimed at dealing with any possible emergency situation on account of a spurt in coronavirus cases.
Jack Ma is learnt to have discussed about e-commerce, mobile telephony
'The overwhelming evidence from various studies and reports indicates that the current work culture in the IT sector, characterised by excessive hours, has severe consequences for health, productivity, and overall quality of life.'
Floats discussion paper for stakeholders' feedback with a deadline of January 28.
The ED said its investigation also revealed that from 2019 to 2022, the sale of 'unaccounted illicit' liquor was almost 30-40 per cent of the total liquor sale in the state.
The Cabinet can take a decision on the matter only after the Election Commission's approval.
The government will soon come out with guidelines for social media influencers, making it mandatory for them to declare their association with the product they endorse, sources said.
The issue is set to be discussed early next week as the commerce department meets with industry bodies to discuss the widening supply gap for key imports.
