In a move aimed at enhancing the bilateral economic ties, India and Germany will set up a hotline facility for speedy resolution of business visa related issues.
The commerce and industry ministry is not in favour of allowing foreign airlines to buy stake in Indian carriers on the ground that the sector is sensitive.
CAIT had last month also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's decision to approve the deal.
Representatives from four states including Maharashtra and Karnataka will also be members of the panel.
The government is considering a proposal to allow 100 per cent foreign direct investment into the country's defence sector, despite stiff opposition from the defence ministry that has raised security concerns.
Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
The eight sectors, which also include fertilisers, steel, natural gas, electricity and crude oil, had expanded by 1 per cent in June last year.
The commerce and industry ministry may withdraw incentives offered to certain export-oriented industries and reallocate these to the sectors that are struggling for survival after a review in April.
After rising in September, Foreign Direct Investment (FDI) inflows in the country dipped by about 40 per cent to $1.4 billion in October over the same period last year.
The record contraction in the growth rate of eight core sectors will have its impact on IIP.
The government on Tuesday announced incentives worth Rs 450-500 crore (Rs 4-5 bllion) for exporters encouraging them to aggressively market products in China and Japan and build on the recovery witnessed since November last year.
Volatility in investments concern for RBI.
IIP is expected to post a subdued volume growth in February 2017
Will consider extending full support after reviewing the situation, says Sharma.
The commerce and industry ministry is in talks with state governments to prepare guidelines for setting up local governance bodies inside these tax-free industrial enclaves. Sources said these bodies may either be modelled on the lines of townships developed by state industrial development authorities like the New Okhla Industrial Development Authority (Noida) in Uttar Pradesh, or follow a Jamshedpur-like model, where a corporate house takes care of civic infrastructure.
The Commerce and Industry Ministry will soon seek Cabinet nod to give out inflation data every month instead of the present practice of weekly release.
Cumulatively, the eight core sectors grew by 4.2 per cent in 2017-18, lowest in the last three financial years.
US-based coffee retail chain Starbucks on Friday said it was withdrawing its application to operate single-brand retail stores in India, thus delaying its entry into the country.
Inflation in food articles during May stood at 1.13 per cent, as against 2.55 per cent in April.
The expansion in September is highest since April, when the core sectors' growth stood at 2.6 per cent.
This lack of regular and detailed disclosure by companies or respondents lies at the core of the problem, one that has gained ground in recent weeks.
The commerce ministry went into a huddle following UPA chairperson Sonia Gandhi's letter to Prime Minister Singh advising caution on allowing FDI in retail.
The declining trade deficit figures clearly reflect that the US exports to India are increasing.
The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent. This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation. In April, 2021, WPI inflation hit double digit at 10.49 per cent. "The annual rate of inflation, based on monthly WPI, was 12.94 per cent for the month of May, 2021 (over May, 2020) as compared to (-) 3.37 per cent in May 2020.
The commerce and industry ministry has informed the Prime Minister's Office that the Bharti Group has conveyed to the government that its joint venture with Wal-Mart was in compliance with the existing FDI policy.
"We have examined the Bharti-Wal-Mart joint venture and everything is in conformity with the existing policy on FDI in retail," high-level sources in the commerce and industry ministry said.
Natural gas and fertiliser output recorded a negative growth of 1.7 per cent and 1 per cent, according to the data of the Commerce and Industry Ministry.
Talks are also on with YES Bank for three other zones, in which the ministry hopes to attract private investment.
India is now a biz friendly nations, say Arun Jaitley.
Export oriented units have approached the finance ministry for abolishing "sunset clause" in the Income Tax Act to get tax exemptions beyond March 2009, so as to attract more investments and maintain their competitiveness globally.
However, production of coal, crude oil and natural gas declined in April this year.
The commerce and industry ministry has fixed a tentative export target of $104 billion for the next fiscal, against a target of $92 billion for the current fiscal.
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