'When Prime Minister Modi met President Trump, they agreed to initiate a bilateral trade dialogue.' 'It makes sense to give these negotiations a chance.'
India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said. The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but "we never" came to any conclusion on those.
The government on Saturday imposed a 40 per cent duty on the export of onions to increase domestic availability amid signs of increasing prices. The export duty, which is the first time ever on onion, has been imposed as the retail sale price of the kitchen staple, according to government data, touched Rs 37/kg on Saturday in Delhi. The finance ministry through a Customs notification imposed a 40 per cent export duty on onions till December 31, 2023.
WTC-bound SA players to miss play-offs after BCCI asks teams to release them by May 26
Industry demands the basic customs duty on all steel imports to be raised to 25%
18% cent GST on iPhones continues to weigh heavily on the final cost to Indian consumers, limiting the impact of price cuts.
Commerce and Industry Minister Kamal Nath on Tuesday said he will talk to Prime Minster Manmohan Singh for reduction of import duty on American cult bike Harley Davidson.
The Bharat Mata controversy in Kerala shows how political and symbolic fights between the state and the Centre have taken attention away from education, throwing the state's oldest university into confusion and disorder, observes Shyam G Menon.
The tech community, which was getting ready to use the ChatGPT fever and raise unlimited capital for their businesses, is going to face tougher obstacles now, predicts Ajit Balakrishnan.
While demand for sub Rs 50-lakh affordable housing prevails, market players cite increased land rates, escalated construction costs and low margins as key prohibiting factors.
'It has also outlived its initial purpose of reducing physical gold imports.'
The Central Board of Excise and Customs, through a notification on February 12, has slashed the duty on both the variants of motorcycles imported as completely build units (CBU) to 50 per cent.
The Indian government could lose a staggering $3 billion in revenues over a five-year period on account of differential import duties levied on refined and unrefined gold, says a report.
The Supreme Court of India has ordered a progressive reduction in the deputation of Indian Police Service (IPS) officers to Central Armed Police Forces (CAPFs) over the next two years, citing concerns over the delayed promotions of cadre officers. The court's decision aims to address the long-standing grievances of CAPF officers who feel their promotional prospects are hampered by the presence of IPS officers in higher ranks. The ruling also mandates a cadre review of the CAPFs to be completed within six months, addressing the issue of stagnation in the service hierarchy. The court's decision acknowledges the valuable contributions of CAPF officers while also recognizing the need to balance their promotional prospects with the operational requirements of the forces.
The foremost lesson for India today is to beef up its air defence to cater for multiple drone attacks. As seen in Operation Sindoor, we have come a long way, but there's room for getting better. We must develop a robust and almost impregnable air cover over ourselves, asserts IAF veteran Air Commodore Nitin Sathe (retd).
Even as the government's move to hike import duties on 45 items is seen as a sign of protectionism, the prime minister was himself involved in the process.
Import of most products from the country will be allowed at zero duty.
"I am telling you, these countries are calling us up, kissing my a***," Trump said during a speech at the National Republican Congressional Committee dinner on Tuesday.
Shreyas Iyer's inspiring leadership faces its toughest test yet when Punjab Kings host an equally upbeat Royal Challengers Bengaluru in Qualifier 1 of the Indian Premier League in Mullanpur on Thursday.
The government may tweak customs duties in the Budget next week on several goods, including furniture raw materials, copper scrap, certain chemicals, telecom equipment and rubber products, to promote domestic manufacturing and exports, sources said. They said that while import duties could be tweaked on over 20 products such as cut and polished diamonds, rubber goods, leather garments, telecom equipment and carpet, the customs duties could be removed on select raw materials (like wood in rough, swan wood and hard board) used for furniture manufacturing and copper concentrate.
The US on Tuesday again placed India on its 'priority watch list' stating that New Delhi remains one of the world's most challenging major economies with respect to protection and enforcement of intellectual property (IP) rights.
Javi Hernandez produced an injury-time winner as Jamshedpur FC edged Mohun Bagan Super Giant 2-1 in the first leg of their Indian Super League semi-final.
With cement companies refusing to cut prices, the government on Tuesday abolished all duties on import of portland cement
DRI had last month issued the notice to Samsung India for allegedly evading duty worth about Rs 70 crore (Rs 700 million) while importing the tablets from South Korea between April 2012 and February 2013, the sources said.
Arsenal, who trail Premier League leaders Liverpool by 12 points with nine games remaining, host Real Madrid in the first leg of their Champions League quarter-final next week.
Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL.
The 21-month-long Emergency also saw the government amend the Constitution several times, including to keep the elections to the offices of President, Vice President, Prime Minister and Speaker beyond the scrutiny of courts and insert the words 'socialist', 'secular' and 'integrity' in the Preamble.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
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.
With US President Donald Trump "temporarily suspending" country-specific reciprocal tariffs until July 9, India sees the three-month window as an opportunity to renew its push for a proposed bilateral trade agreement (BTA) with the US and expedite finalisation of the first tranche of the trade deal.
Import duty on steel is a critical factor determining domestic steel prices. Auto component makers and automobile majors, faced with sagging sales over the last two quarters, have expressed strong reservations against the steel industry's demand for re-imposition of 5 per cent import duty on non-alloy steel (used to manufacture car bodies and stamped auto parts).
Will Russia's entry deter Trump on his warpath?, asks Ambassador M K Bhadrakumar.
While India has become the largest data generating nation, and hosts more than 152 data centres, it is fed by only 18 undersea cables.
The auto major is not just looking at domestic sales, but also planning to ramp up exports to key markets from here, like the Middle East, North Africa and Australia.
'According to JP, Indira Gandhi was not much of a danger to democracy. He said, it was Sanjay Gandhi and his gang.'
Worried by a spike in Chinese imports, the Indian Steel Association (ISA) plans to take up the matter with the government and seek measures to fix "trade distortions". Alok Sahay, secretary general of the group that represents the country's steel producers, said systemic changes were needed. "In order to take any trade measure, it takes a minimum of 15 months' time, due to prevalence of lesser duty rule in India, making India an easy target. "We are going to write to the government on this," he said.
So tell us, does Sitharaman's budget deserve cheers or boos?
Finance Minister Nirmala Sitharaman on Thursday said there are no changes in tax rates for direct and indirect taxes, including import duties. She also said the number of tax filers has swollen 2.4 times and the direct tax collection has trebled since 2014.
The imposition of 15 per cent export duty on steel has suddenly altered the prospects of the sector to negative and led to a big sell-off in steel stocks. Iron ore and pellet exports have to face duties of 45-50 per cent, which means they become uncompetitive. The Ukraine war has led to a supply crunch in global markets and pushed up prices, with Europe, in particular, looking for replacements for Ukrainian and Russian exports.
