It started out as a Production Linked Incentive (PLI) scheme to make India an export hub. But after many a twist and turns, the latest 2.0 PLI for IT hardware, for which the 40 eligible candidates have applied till its deadline, is now focused on 'import substitution'. The scheme will help in reducing India's over-dependence on imports (80 per cent of laptops are imported), especially from China which include laptops, tablets and servers.
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
Tata Motors, India's leading CV manufacturer, may bring its pick-up trucks, a joint venture product with Thonburi of Thailand, to Indian shores.
'So, they have taken away the word Waqf from the Bill.' 'It will now be known as the UMEED Act.'
In a dramatic shift in Canada's foreign policy, Prime Minister Mark Carney on Thursday declared that the long-standing economic and security relationship between Canada and the United States has ended, responding to US President Donald Trump's announcement of new auto tariffs that could severely impact Canada's economy, Politico reported.
A group of onion traders gathered at the Pimpalgaon Agricultural Produce Market Committee (APMC), near Nashik, to inspect one of the season's final harvests of red onions as they look to place their bids. They were surrounded by farmers, who brought their produce here from different parts of the district. Farmers have reasons to be optimistic.
Surging global crude oil prices failed to shore up customs revenue substantially as India Inc resorted to advance licence scheme, which allows duty-free imports for value-added exports.
Shreyas Iyer has overcome perceptions about his batting abilities and a difficult period in his career to establish himself as a key player in India's ODI team.
'A 10 to 15 per cent allocation to gold in portfolios reduces risk without compromising on potential returns.'
'I didn't like doing jhatak-mataks. I would subconsciously start feeling, 'Oh my God, my makeup man and my driver will be watching this.''
The N K Singh task force on power sector reforms has proposed wide-ranging fiscal measures, including cut in customs duty, abolition of special ad valorem duty and tax holiday to step up investments in a bid to bring down tariffs.
'While criticising India's high tariffs, Mr Trump stated he would impose reciprocal taxes on Indian products if re-elected.' 'However, since India's tariffs follow WTO rules, Mr Trump's actions would violate these rules,' Ajay Srivastava points out.
"These latest so-called 'Liberation Day' tariffs are reckless and self-destructive, inflicting financial pain on Illinois at a time when people are already struggling to keep their small businesses afloat and put food on the table."
Govt has so far refused to bring down the import duty to 2% from the current 10%.
According to experts, even if an additional 5 per cent of people opt to buy new vehicles, it may bring a huge boost to the sector.
The revised duty will come into effect from midnight on February 24.
Prime Minister Narendra Modi received a tri-services ceremonial welcome in Colombo, Sri Lanka, marking the first time such an honor has been bestowed upon a foreign leader. The welcome took place at the historic Independence Square, the venue for national day celebrations. Modi's visit comes as Sri Lanka shows signs of recovery from a recent economic crisis, with India playing a significant role in providing assistance. During the visit, both leaders are expected to discuss a range of issues, including defense cooperation, energy, and digital initiatives.
'The steel industry expects the government to decide on safeguard measures from dumping post-Budget'
In a move aimed at checking the revenue loss stemming from Indian shoppers purchasing luxury brands abroad, the government on Friday said it could rationalise import duties."India has high tariffs and we recognise that if you go abroad and buy, then it is a revenue loss for India. So we are working on both duties and countervailing duties," Union Commerce Minister Kamal Nath said.
'When compared to many of America's treaty allies in Asia, Modi 3.0 is on a much stronger footing.'
Chief Justice of India Sanjiv Khanna on Tuesday said no oral submissions for urgent listing and hearing of cases will be permitted and urged lawyers to either send emails or written letters for it.
Legitimate importers, who pay high import duties, face stiff competition from this illegal grey market, even though smuggling is gradually diminishing with trade liberalisation and declining tariffs, according to the report issued by the USDA's Foreign Agricultural Service.
Is India headed there again? questions Ajit Balakrishnan
Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat stressed the importance of respecting differences and fostering cohesion in a diverse society while addressing the Republic Day celebrations in Bhiwandi, Maharashtra. He also emphasized the values of equality, freedom, and fraternity, highlighting the significance of the 'dhammachakra' on the national flag as a symbol of these principles. Bhagwat urged the younger generation to strive for greatness and use their success for the betterment of the country, highlighting the need for selfless contribution and the collective responsibility of the people in shaping the nation's future.
The Supreme Court of India has sought the government's response on a Public Interest Litigation (PIL) that challenges the appointment process of the Comptroller and Auditor General of India (CAG), arguing it's unconstitutional. The PIL, filed by the Centre for Public Interest Litigation, claims the current process, solely through executive appointment by the Prime Minister, undermines the CAG's independence and violates constitutional principles. The court, while acknowledging the importance of institutional trust, questioned the extent to which it should intervene in the appointment process and whether this would constitute rewriting constitutional provisions. The PIL suggests the CAG's appointment should be similar to other independent bodies, with a selection committee comprising the Prime Minister, Leader of the Opposition, and Chief Justice of India. The case has implications for the independence and transparency of India's audit system.
Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
Speaking at a rally in Madhya Pradesh's Harda on April 24, Modi praised Chouhan saying the two had served together in the party organisation and also as chief ministers.
