NEW DELHI: India wants to start negotiations on an investment deal with the European Union simultaneously with a trade agreement in a renewed push to boost bilateral ties with the trade bloc. Keen to accelerate investments, technology and capital flows from the EU, India wants the investment and trade deals to happen parallelly and independently.
India
Since the beginning of the Covid-19 pandemic, India has witnessed many behavioural changes of economic agents, with initial lockdown and subsequent reopening of the economy in phases. Such behavioural changes have resulted in a much faster economic recovery than anticipated not only in India but across economies. One such change that merits attention for policymaking
India is considering revising its foreign investment rules for e-commerce, three sources and a government spokesman told Reuters, a move that could compel players, including Amazon.com Inc, to restructure their ties with some major sellers. The government discussions coincide with a growing number of complaints from India’s brick-and-mortar retailers, which have for years accused Amazon
At 34 years old, Nikhil Kamath is one of India’s youngest billionaires. The Bangalore-born entrepreneur snagged the title late last year after joining Forbes India Rich List with his brother and co-founder, Nithin. It followed the runaway success of their stock trading platform Zerodha amid the pandemic. Don’t miss: The best cash-back credit cards with
Enthusiasm about Budget 2021 has been muted. Finding a balance between prioritising lives vs livelihoods, fiscal prudence vs budget largesse should be priority. But will Finance Minister Nirmala Sitharaman’s third budget have something for everyone as indications suggest? Today, almost a year after Covid-19 descended on India, we are fully cognisant of the far-reaching impact
NEW DELHI: India has signalled widening of ties with Taiwan amid the ongoing border crisis with China with its envoy indicating expanding scope of trade and investments ties and people-to-people contacts. India’s representative to Taiwan recently told local media that his office will focus on enhancing bilateral investments, people-to-people exchanges and technical cooperation between Delhi
New Delhi: India is strengthening the entire ecosystem to achieve Prime Minister Narendra Modi‘s dream of becoming a USD 5 trillion economy by 2025 through rapid structural reforms, Union Minister Piyush Goyal said on Saturday. Addressing the Pravasi Bharatiya Diwas conference, the Commerce and Industry Minister said: “We are working simultaneously to bring about a
Corporate India has lobbied Finance Minister Nirmala Sitharaman for competitive tariffs when she announces the Union budget on February 1. That marks a welcome change from India Inc’s usual clamour to shield domestic producers. It seems to have realised that the best way to become part of trade networks is to move away from a
MUMBAI: The central bank’s newly established corpus of Rs 345 crore for developing payment infrastructure in rural India could ease the unit economics for key stakeholders to deploy terminals in the absence of Merchant Discount Rate (MDR). However, key stakeholders – the banks and payment companies — would continue to demand the resumption of transaction
The union cabinet, on Wednesday, approved a memorandum of cooperation between India and Japan to develop a basic framework that would facilitate movement of skilled workers from India to Japan. These Indian workers would be granted a new status of residence of “specified skilled worker” by the government of Japan. “The idea is to enhance
SINGAPORE — Indian drugmaker Cadila Healthcare is about to start a phase three clinical trial for a potential coronavirus vaccine, its chairman told CNBC. “We’re now moving into phase three, which is going to start very, very soon,” Pankaj Patel told CNBC’s “Street Signs Asia” on Tuesday. He said the trial will involve about 30,000
MUMBAI | HANOI: Vietnam, the world’s third biggest exporter of rice, has started buying the grain from rival India for the first time in decades after local prices jumped to their highest in nine years amid limited domestic supplies, four industry officials told Reuters. The purchases highlight tightening supplies in Asia, which could lift rice
In 2021, India may record its fastest GDP growth in history, maybe 11-12%. This will, of course, represent the bounceback from the Covid-lockdown crash of 2020. With growth at minus 24% in the April-June quarter 2020, positive growth of 28-30% is possible in the corresponding quarter of 2021, lifting the average for the year. Forget
India is set to swing from being a cautious spender in 2020 to opening the fiscal floodgates as Prime Minister Narendra Modi seeks to pull Asia’s third-biggest economy back from the worst of the pandemic. Curbs imposed by the finance ministry on more than 80 government departments and ministries earlier in the year to preserve
Without making big national headlines, China’s Gland Pharma launched the biggest initial public offering (IPO) of shares in Indian pharmaceutical history of Rs 6,500 crore in November. This was oversubscribed more than twice, despite calls for boycotting everything Chinese after the Ladakh clash last summer when 20 Indian soldiers died. Gland Pharma’s issue price was
Hyderabad: Though COVID-19 and the subsequent lockdown left a trail of economic devastation on most countries, India can potentially build upon three positive aspects- push in the rural economy, stronger federalism and a huge consumption base, former RBI Governor Duvvuri Subbarao Rao has said. In his foreword on a Telugu book titled “Maandhyam Mungita Desam”
New Delhi: India, which appears to have been pushed back to being the world’s sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030, a think tank said on Saturday. India had overtaken the UK in 2019 to become the
NEW DELHI: India and Japan has taken a key step towards widening their economic partnership in the steel sector and steel industry which will boost India’s manufacturing industry. On December 22nd the “Memorandum of Cooperation between the Ministry of Steel, Government of India and the Ministry of Economy, Trade and Industry, Government of Japan in
India may reduce scrutiny of deals by Hong Kong-based investors as long as Chinese firms aren’t involved in the transactions, people with knowledge of the matter said. The proposals under consideration include making it mandatory for beneficial owners from nations sharing a land border with India to seek the government’s permission to acquire more than
India Inc pushed for the creation of multiple bad banks to absorb the non-performing assets (NPAs) of public sector banks (PSBs) to enable better credit flow to the economy, as part of its budget suggestions to the government. In order to augment the effectiveness of these bad banks, the Confederation of Indian Industry (CII) recommended
New Delhi: India has the potential to achieve double-digit growth through a healthy dose of digital services and manufacturing base expansion which will be driven by demand from the rural sector, youth and the aspirational middle class, Union Minister Anurag Singh Thakur said on Saturday. The minister of state for finance said that in the
NEW DELHI: The government is making efforts to deregulate the economy with an aim to attract greater investments from across the world, Commerce and Industry Minister Piyush Goyal said on Wednesday. He said the government has opened up defence, manufacturing, mining, finance and capital market sectors. The government has further liberalised agricultural laws to encourage
India may not wait for consensus on ongoing negotiations at the Organisation for Economic Co-operation and Development (OECD) on Pillar 1&2 of Base Erosion and Profit Shifting (BEPS) project, but once consensus is achieved all unilateral measures to counter base erosion will be withdrawn, a senior official said. “While we said that it’s may not
India’s entrepreneurs have a unique opportunity to shape the future of technology, not only within their own country but across the globe, according to the billionaire founder of one of the country’s most successful start-ups. Vijay Shekhar Sharma, CEO of financial technology company Paytm, said accelerating internet adoption under the pandemic has increased the need
NEW DELHI: Competitive import tariffs, a cut in personal income tax rate, abolition of minimum alternate tax, banking licences for corporates, reduction in government holding in public sector banks, and an aggressive disinvestment programme to fund steps to boost growth top India Inc’s wish list for budget 2021. “Budget proposals should focus on growth and
Industry body CII has recommended a three-pronged strategy for Budget 2021 centring around the key themes of growth, fiscal consolidation and strengthening of the financial sector that would help overcome the impact of COVID-19 on the economy. The recommendations were presented to Finance Minister Nirmala Sitharaman at a meeting with industry leaders held on Monday.
Odisha chief minister Naveen Patnaik while speaking at the 93 rd annual general meeting (AGM) of FICCI, said that Odisha is very successfully on the path of becoming the manufacturing hub of the Eastern India and the state is implementing path breaking technological reforms to make the investment process easier. “Odisha is fast emerging as
Mumbai: With several statements by finance minister Nirmala Sitharaman hinting towards an expansionary federal budget, brokerage house Nomura on Wednesday forecasted that India’s fiscal deficit could widen to 8.6% of GDP in FY21. This is against a budgeted target of 3.5%. Nomura expects fiscal deficit to narrow to 7.2% of GDP, as higher nominal growth
After three successive quarters of above-target inflation, there are signs that inflation may have finally peaked, Barclays India said in a report. Favourable base effects, improving supply constraints and a small reversal in food prices will likely have a moderating effect on CPI inflation over coming months, it said. In its estimation, inflation will remain
NEW DELHI: India’s government is considering rolling back some parts of its agricultural reforms after they triggered the biggest protests by farmers in years, officials said on Friday. Tens of thousands of farmers were out on the streets around Delhi again on Friday, rallying against three laws that the government says are meant to overhaul
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