The Centre has asked the Maharashtra government to reduce the size of the Reliance Industries-promoted Mahamumbai SEZ as it involves acquisition of over 10,000 hectares of land.
The government on Wednesday said provisions of Press Note 2 (2005 series), which allowed 100 per cent foreign direct investment in townships
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.
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.
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.
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.
Retail inflation, based on Consumer Price Index, hit a 15-month high of 4.88 per cent in November
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.
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.
India and Australia are soon likely to initiate talks for a free trade agreement.
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 government is likely to extend fiscal incentives for production of toys, bicycles and leather and footwear in the forthcoming budget as it looks to expand production linked incentive (PLI) scheme to cover more high-employment potential sectors, sources said. The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advance chemistry cell and speciality steel. The scheme aims to make domestic manufacturing globally competitive and create global champions in manufacturing, and it is yielding solid results, sources said.
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.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
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.
Retail inflation hit an eight-month high of 6.07 per cent in February, remaining above the RBI's comfort level for the second month in a row, while wholesale price-based inflation soared to 13.11 per cent on account of hardening of crude oil and non-food item prices, government data showed on Monday. The previous high for retail inflation was 6.26 per cent in June 2021. The consumer price index (CPI) based retail inflation, which is taken into account by the Reserve Bank of India (RBI) while deciding its monetary policy, rose mainly because of costlier food items, as per the data released by the National Statistical Office (NSO).
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.
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 home ministry has given security clearance to Air India CEO-designate Campbell Wilson, paving the way for him to take charge of the airline, according to a senior official. The appointment of Wilson as the chief executive officer and managing director of Air India was announced by Tata Sons on May 12. Tata Sons took over the loss-making carrier on January 27.
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