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.
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.
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
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.
The Central Consumer Protection Authority (CCPA) on Thursday directed e-commerce entities to sell specified ayurveda, siddha and unani drugs only after customers upload valid medical prescriptions from registered doctors on the platforms.
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.
Minister of state for personnel Jitendra Singh said it is a major step to place the right talent for the right role.
Retail inflation, based on Consumer Price Index, hit a 15-month high of 4.88 per cent in November
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.
Wholesale price-based inflation rate fell to a 3-year low of (-) 3.48 per cent in May on easing prices of food, fuel and manufactured items, strengthening the case for continuing with the pause in rate hike in the coming months of the current fiscal. This is the second straight month when WPI has been in the negative zone mainly on account of a higher base and falling prices of fuel and manufactured goods. Food prices also eased during May. In May, 2022 WPI inflation was at 16.63 per cent. Last month, it was (-) 0.92 per cent.
India has set an ambitious target to quadruple annual information technology exports to $50 billion by 2010 from $12.5 billion at present.
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.
The government has approved a Rs 675 crore (Rs 6.75 Special Economic Zone by Finnish telecom major Nokia near Chennai.
The decline in gold imports has helped in narrowing the country's trade deficit to $106.84 billion during the eight-month period under review as against $133.74 billion in the year-ago months.
Existing units stay operational; those approved may not be notified, land could be used for other purposes
Government has initiated an anti-dumping investigation against imports of Titanium Dioxide from China.
Pakistan, "for the time being", does not want to import diesel from India either through land or sea route, owing mainly to its "higher rates".
The petitioner's lawyer interjected the rules are being framed for the last 5-6 years but nothing concrete has been done yet.
The government is all set to liberalise the promotional Market Access Initiative scheme to enable exporters penetrate new markets, as it targets to achieve $120 billion in exports this fiscal.
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.
The USTR has placed India on its "priority watch" list for two years in a row, saying the country's patent laws unfairly favour local drug makers.
Exporters can make payment of fees through debit/credit cards.
