Exports to India support 180,000 US jobs.
The government has sent a proposal to the Board of Control for Cricket in India (BCCI) to organise a cricket match on August 22 between India and the rest of the world as part of celebrations to mark 75 years of India's independence.
In a turn of events, India on Friday said it was "hopeful" talks for a global deal on easing Customs norms, or a trade facilitation agreement (TFA), would be revived in September, even as it failed to meet the July 31 deadline due to lack of consensus among members over food stockholding and farm subsidies.
Digital commerce operators advertising on global social media, which earlier did not pay Google tax on their operations in Jammu & Kashmir, may now have to cough it up at 6 per cent.
Ever since the deal was announced of Walmart spending over $16 bn for a 77 per cent stake in Flipkart, the road to the takeover of India's biggest online marketplace has been quite bumpy
However, the countries did not take up the issue of proposed withdrawal of export incentives by the US to Indian exporters under Generalized System of Preference.
The department for promotion of industry and internal trade has rejected Walmart-backed Flipkart's proposal seeking approval for entry to the food retail sector, citing a regulatory issue, an official said on Monday. The government permits 100 per cent foreign direct investment in food retail for food produced and manufactured in India.
Agreement 'endorsed' by members and being legally vetted but will be part of the main Doha agenda only after a tenuous process.
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.
India's medical devices imports surged 41 per cent to touch Rs 63,200 crore in 2021-22, led by a 48 per cent year-on-year (YoY) jump in imports from China to Rs 13,538 crore, the commerce ministry data analysed by the Association of Indian Medical Device Industry (AiMeD) has showed. Local industry players say this has led to several small and medium units to shut shop. Rakesh Vaid of Usha Fabs, a garments exporter, had started making N95 masks in his Gurgaon factory during the peak of the Covid-19 pandemic.
India believes rich nations should be away from farm subsidies.
'We welcome India's ban on certain mobile apps that serves as an appendage of the CCP's surveillance State'
Sonakshi gets up close and personal... Anil parties in Germany...
The Rajasthan government on Sunday announced the closure of schools in urban areas, Sunday curfews, time limits on markets and a cap on occupancy at restaurants and movie theatres in view of a surge in COVID-19 cases.
From the rollback of customs duty on key electronic components to fast tracking delivery of goods imported from China, players are looking for incentives on several counts.
The 2+2 was attended by Secretary of State Antony Blinken and Secretary of Defence Lloyd Austin and their Indian counterparts S Jaishankar and Rajnath Singh respectively.
Centre has already started work on developing a mechanism to ensure states producing any item in excess is able to transport it to other states where there is demand
The US Trade Representative's (USTR) office will also conduct the Section 301 probe against nine others, including Austria, Brazil, Indonesia, Italy, Spain, Turkey, the Czech Republic, the UK, and the EU, for levying or considering digital services taxes "discriminating against US companies".
Economic recovery from the pandemic in the US has helped India achieve the $400-billion mark for exports for the first time in any fiscal year. According to the preliminary data compiled by the Department of Commerce, India exported goods worth $73 billion to the US from April 1 to March 21 - up 47 per cent, compared to last year. The US' share of exports, compared to total exports, stood at 18.2 per cent. The country is also India's largest trading partner and export destination.
At 64, the woman who will be India's 15th president, taking over from Ram Nath Kovind, will also be the youngest and India's first President to be born after Independence.
New foreign trade policy to stress manufacturing exports.
This will boost availability of these items as well as make them cheaper, it said, adding that Modi also directed the revenue department to ensure seamless and quick custom clearance of such equipment.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
Newly-elected Conservative Party leader and prime minister in waiting Liz Truss is among the senior British politicians known for championing deeper India-UK strategic and economic ties, describing them as a "sweet spot" of global trade dynamics.
The G20 chair has suggested three areas for the talks in Argentina - the future of work, infrastructure for development and a sustainable food future, areas where India has a lot at stake.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
At the heart of the issue is the way e-commerce is defined in the current draft policy.
Going ahead with its festive sales as per schedule, companies such as Flipkart, Jabong, and Myntra are having week-long Valentines' Day sales, offering discounts of as much as 80 per cent. Amazon India is also offering discounts of almost 40 per cent.
On May 20, more than half dozen officials from Commercial Tax Department raided Kumar's shop which had been running for the past several years.
In a bid to curb harassment of taxpayers, Sitharaman said, a faceless e-assessment scheme was launched in October to eliminate interface between an assessing officer and a taxpayer.
CCPA said the primary issues raised in the notices included 'deficiency in service'. This includes lack of proper response from customer support, driver refusing to take payment by online mode and insisting for cash only.
Alka Mittal has been appointed interim chairman and managing director of Oil and Natural Gas Corporation (ONGC) - the first woman to head the country's largest oil and gas producer. Mittal replaces Subhash Kumar, another interim head who retired after reaching superannuation age on December 31. "The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Ministry of Petroleum and Natural Gas for entrustment of additional charge of the post of chairman and managing director (CMD), ONGC to Alka Mittal, director (HR), ONGC for a period of six months with effect from January 1, 2022, or till the appointment of a regular incumbent to the post, or until further order, whichever is the earliest," the Department of Personnel and Training (DoPT) said in an order dated January 3, 2022.
Existing units stay operational; those approved may not be notified, land could be used for other purposes
As Amazon India, Flipkart are forced to shut down 60 categories and push out 45 mn products, a new lobby group comprising sellers is in the making to take up e-com concerns.
Sitharaman cancels Myanmar trip at last moment citing launch of Modi's Jan Dhan Yojana.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
This import duty exemption would remain in force till October 31 this year.
Commerce and Industry Minister Piyush Goyal urged start-ups to focus on three Ps - product, process, people - for building Aatmnirbhar Bharat.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
