For the first time, the government is considering the merits of a tariff policy to contain prices that could include allowing external agencies to import commodities and cultivating some essential crops overseas. An inter-departmental team from the ministries of finance, food and consumer affairs and commerce has been asked to work out a strategy to this effect.The finance ministry's department of economic affairs has submitted its views and a final paper is under preparation
The zones will be required to register themselves with www.sezindia.nic.in. Currently, developers have to send SEZ-related applications to the Department of Commerce, after which the inter-ministerial Board of Approval (BoA), headed by Commerce Secretary Gopal K Pillai, takes a call on them.
Exports may fall below $300 bn by 2015-16 end.
'The belief that FDI will shift from China appears to be a strategy of politicians to keep the media busy, chasing irrelevant news to ward off pressure and questions about the government's plans to deal with COVID,' observes Debashis Basu.
Since much of the voting was on religious lines, Mamata's rural focus became irrelevant.
Telecom subscribers had it good during Rahul Khullar's watch as Telecom Regulatory Authority of India (Trai) chairman.
The government is simplifying the procedure for filing tax deducted at source returns to assist taxpayers and mop up higher revenues.\n\n\n\n
'The SJM has requested the government to bring a change in the law which will ensure MSP as the floor price for all farmers below which nobody should buy anything from them.'
Anand Sharma, who took charge of the nodal ministry for FDI on May 29, said there is no need for a relook at the policy amended in February by the Department of Industrial Policy and Promotion. While the policy does not allow overseas inflow into this sector, the changes in February were perceived to be opening the sector to FDI up to 49 per cent in an Indian firm that has a downstream subsidiary firm in retailing.
Foreign direct investment (FDI) in India declined by about 15 per cent to $12.6 billion (Rs 74,971 crore) during April-October this year, Parliament was informed on Wednesday.
Government planning to slash the number of days required to start a business in Mumbai, Delhi from the current 26.
The finance minister was speaking after launching the maiden IDF scheme of IIFCL Mutual Fund in New Delhi on Tuesday.
In its first acquisition in India, the American online retail giant is planning to buy out the fashion portal
Indian small and medium enterprises are expected to emerge as major buyers of the information technology products by 2008. According to Joydeep Datta Gupta, executive director of Deloitte & Touche Consulting, any IT-led SME business transformation project could succeed only if the project was sustained.
The decision was taken by an inter-ministerial Board of Approval.
Sensex hit a record high of 27,225.85 and Nifty hit a record high of 8,141.90 in the intra-day trades today.
"In the last four years, 35 million pounds worth legal work pertaining to international deals have been done in India and during the same period ten times of that work was done abroad," Alison Hook, Head of International department at the Law Society of England and Wales, told PTI. Expressing her optimism that India would 'open up (its legal sector) in due course' as the country looks for expansion abroad, Hook said, "The longer it takes, India will lose more opportunities."
A revamped Electronic Data Interface system and easier norms for the Accredited Clients Programme are some features likely to be introduced to reduce the transaction time and costs of exporters. Some of the measures may figure in the annual supplement to the Foreign Trade Policy, which is being released on Apr 11. ComMin officials expect the new Electronic Data Interface System to become operational by the end of this fiscal. Exporters will have to submit lesser documents.
Chairing an exclusive roundtable with 42 global CEOs and top executives from across 20 sectors, Modi stressed on continued political stability in India, predictability of policy, and pro-development and pro-growth policies.
The West Bengal government may consider asking companies to directly purchase land for all industrial projects, including the Salim group's proposed SEZ.
Sectors that attracted maximum FDI include services, trading, automobile and power.
These top level changes have come soon after Flipkart co-founder and Group CEO Binny Bansal resigned over allegations of serious personal misconduct in November.
With bilateral border trade through the historic Silk Route between India and China remaining open for one more month, the export turnover from India is likely to increase substantially. Annual border trade, which this year commenced three weeks after the scheduled date, had started on a tepid note to record a thin volume in the first two months, but the business picked up subsequently.
This decision will come as a relief to Essar's multi-product port-based SEZ project in Hazira as well as of Adani Group's zone in Mundra, which the revenue department felt was not built on vacant land when it was notified, and hence it had violated the law. Both the zones are in Gujarat.
Tourism boards have turned innovative in radio advertising when it comes to promoting their destinations among Indian travellers.
According to data released by the Sikkim commerce and industries department in Gangtok, utensils including copper bowls fetched a revenue of Rs 900,000 for Indian traders during four months of trade at the Renquinggang mart. Other products like black tea, textiles, woollen shawls, canned food, vegetable oils and cigarettes were in demand from importers.
Departments of electronics, excise, I-T launch probe into Rs 251 smartphones
The United States on Monday said India 'missed' a major opportunity to get a liberalised regime for the much sought-after H1B visas by not agreeing to Doha deal in Geneva this July.
The government has decided to set up a joint venture company with industry body Ficci for encouraging investment in the country."The Invest India company, a joint venture between the department of industrial policy and promotion and Ficci, would be funded by the government and managed by the chamber," commerce and industry Minister Kamal Nath said
Businesses that are engaged in both taxable and non-GST supply have re-structured themselves into separate entities to avoid elaborate compliance, says Sudipto Dey.
She said Finance Minister Arun Jaitley is working "hard" on the Bankruptcy Code
E-commerce model appears to be the best bet available to US retail giants at this point to tap the Indian market.
Exports are slowing and economic growth in major markets for Indian goods has taken a hit.
In a move that is being seen as a snub to Walmart, Commerce and Industry Minister Anand Sharma on Thursday cancelled a meeting with US retail giant's Asia head Scott Price.
Coming out strongly in defence of foreign direct investment in retail, the ministry of commerce and industry has told the Prime Minister's Office that there is no empirical evidence to suggest that organised retail would adversely impact small retail
According to Sanjeev Chopra, secretary of the horticulture and food processing department of West Bengal, steps were being taken so that exporters from the state could sell overseas at least 1 per cent of the total state produce through the AEZs.
Government gives 60 institutes freedom to fix courses, collaborate with foreign peers.
On October 23, the top court said people in the country can only burst firecrackers from 8 pm to 10 pm on Diwali and other festivals. It also allowed the manufacture and sale of just "green crackers" which have low emission of light, sound and harmful chemicals. The apex court carved out an exception for Christmas and the New Year's Eve, saying crackers on these days could be burst between 11.55 pm and 12.30 am since the celebrations start at midnight.
Services attracted the most FDI during the first eleven months period of 2015-16.
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