Retail inflation, based on Consumer Price Index, hit a 15-month high of 4.88 per cent in November
As Germany took note of Rahul Gandhi's disqualification from Lok Sabha, the Bharatiya Janata Party on Thursday accused the Congress of 'inviting foreign powers' for interference in India's internal matters and the Opposition party hit back, alleging that its rival was attempting to divert attention from the Adani issue.
In a letter dated November 30, the PMO asked the commerce ministry to prepare a detailed note on the venture, in the anticipation that it would come up for discussion in Parliament.
Negotiations on Singapore issues, that have remained a taboo for India, will be the main discussion point at the World Trade Organisation ministerial meeting in Cancun next month.
The International Monetary Fund (IMF) has lowered its real export growth forecast for India for 2008 to 13.2 per cent from its April forecast of 16.3 per cent.
The prime minister, who is visiting the US at the invitation of President Biden and First Lady Jill Biden, will join them for the state banquet along with a number of dignitaries on Thursday.
India on Tuesday mooted a marketing policy for the sector though domestic players opposed any move to allow overseas investments in the retail space.
The government has also ruled out the need for an amendment to the SEZ Act, as was demanded by Left parties.
As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
The government has decided to examine the popular export promotion scheme -- the Export Promotion Credit Guarantee Scheme -- to prevent its misuse in the wake of a car import scam coming to light recently.
The Spices Board will take part in 13 global fairs during the current financial year.
India and Australia are soon likely to initiate talks for a free trade agreement.
The world's largest steelmaker, Mittal Steel Co. will buy 36.7 per cent stake for $316 million in China's Hunan Valin Steel Tube & Wire Co.
Even as the SEZ Board of Approval meeting, held in New Delhi on Thursday, deferred taking a decision on Essar's request to link its steel-based zone at Hazira
The entire exercise might become a cakewalk with India deciding to become a signatory to the 'Madrid Protocol'.\n
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
In a move that is likely to boost border trade between India and China, the commerce ministry is considering to expand the number of items traded through Nathu La in Sikkim.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
A last-ditch attempt to rescue the Doha round of world trade talks is likely to be made towards the end of July at a Geneva meeting of 30 trade ministers from among the 150-member countries of the World Trade Organisation (WTO).
Country's largest gold importer MMTC Ltd has decided to join the SEZ bandwagon by setting up a gems and jewellery park in joint venture with a private player in the tax-free enclave.
The next six months may see the Centre notifying 100 special economic zones.
Despite the missive on the impact of foreign retail on the small kirana shops in the country written by Congress President Sonia Gandhi to Prime Minister Manmohan Singh, everyone in the government knows that it was never to be taken seriously.
India's export growth slowed down to 14.08 per cent during January 2007 to $9.64 billion, while imports rose 35.74 per cent to $15.43 billion over the corresponding month a year ago.
Reflecting the enthusiasm among private companies for setting up special economic zones, the board of approval for SEZs will consider over 100 proposals on March 17 - its first meeting since the implementation of SEZ Act and Rules last month.
The country's exports grew 5.37 per cent year-on-year to $27.24 billion in January 2021, mainly driven by healthy growth in pharma and engineering sectors, according to provisional data of the commerce ministry. Trade deficit during the month narrowed to $14.75 billion from $15.3 billion in January 2020. It was $15.44 billion in December 2020. Imports in January 2021 rose 2 per cent to $42 billion.
India on Wednesday said that developed and developing countries should now 'close their differences' and move forward after the Cancun debacle but felt more 'transparency' in decision-making process was needed at the WTO to help towards this end.
While the high-end bikes will not enjoy any cuts on import duty, the commerce ministry has now mooted capping the number of such bikes to be imported in a year.
The country's exports rose by about 6 per cent to a "record" $447 billion during 2022-23 on account of healthy growth in the outbound shipments of sectors such as petroleum, pharma and chemicals and marine, Commerce and Industry Minister Piyush Goyal said on Thursday. The country's imports also grew by 16.5 per cent to $714 billion in 2022-23 as against $613 billion in 2021-22. He said that the exports of goods and services together scaled "new heights" and has increased by 14 per cent to $770 billion in 2022-23 as against 676 billion in 2021-22.
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