Says retailers dropping order because of amendment to I-T Act on payment to MSMEs

Farmers reject Centre's proposal for a committee on MSP, say sources

Hedges interest rate risk under asset liability management

India needs to grow at an annual rate of 9-10 per cent for around three decades and constant innovations to become a USD 35 trillion economy by 2047, India's G-20 Sherpa and former NITI Aayog CEO Amitabh Kant said on Sunday. "We are the fifth largest economy in the world and by 2027 we will surpass Japan and Germany to become the third largest economy in the world. And our aim is that by the time we turn 100 in 2047, India should be a USD 35 trillion economy," Kant said while addressing a session at Mumbai Tech Week (MTW) hosted by Tech Entrepreneurs Association Mumbai (TEAM). Which means, India will become the second largest economy in the world, Kant stated. "And to be a USD 35 trillion economy means that we need to grow year after year for close to three decades by 9-10 per cent annually and this means that we need to do a lot of disruptions and constant innovation," he noted. Kant said that India created the digital identity of 1.4 billion people and technologically the country

The panel asked the textiles ministry to do a comprehensive study on how to increase cotton production

The commerce ministry has decided to extend export benefits under the RoDTEP scheme for companies in the special economic zones (SEZs) and export oriented units (EOUs). This decision was communicated to the Director General of Foreign Trade (DGFT) on February 16. The DGFT may issue a formal notification soon amending the foreign trade policy on the same. "Post rolling out of ICEGATE (Indian Customs Electronic Data Interchange Gateway) in SEZs, the RoDTEP scheme may also be extended to SEZs," according to an office memorandum of the commerce ministry. The government in August 2021, announced the rates of tax refunds under export promotion scheme -- Remission of Duties and Taxes on Exported Products (RoDTEP), for 8,555 products such as marine goods, yarn and dairy items. As SEZs and EOUs were kept out of the scheme in the list notified that time, the industry was demanding to include them in the scheme. Under RoDTEP, various central and state duties, taxes, and levies imposed on in

Houthi attacks on Russian crude deliveries coincide with escalating US actions on ships carrying such crude, leading to double trouble for India

Meghalaya Chief Minister Conrad K Sangma on Saturday asserted that the state needs to sustain 11.5 per cent annual GSDP growth to achieve the ambitious target of becoming a USD 10 billion economy by 2028. Addressing a gathering after laying the foundation of a Rs 100 cr bulk water supply project at Ballonggre in West Garo Hill district, Sangma said that the state is at present a Rs 45,000 crore economy and that needs to be improved. "It is a herculean task but the state government has charted out a roadmap to achieve the target," he said. The CM asserted that his government has a vision for the state and investments are being made to build better and sustainable infrastructure, create jobs through entrepreneurship and adopt innovative policies and programmes to increase farmers' income. He said a thrust has been laid on improving rural economy by focusing on enterprises that will leverage the potential of the rich natural resources of the state. He asserted that Meghalaya has won

Under the visionary leadership of Chief Minister Yogi Adityanath, Ayodhya has undergone a transformative journey towards development, making it an appealing destination for investors

Cumulative losses of public sector enterprises in Himachal Pradesh stood at Rs 5,143.46 crore as on March 31, 2023 and 14 out of 23 such units were in the red, according to a state government report. The report on public sector units was tabled in the state assembly on Saturday during the presentation of the annual budget for the next financial year. Himachal Road Transport Corporation topped the list with a loss of Rs 1,966.13 crore, followed by Himachal Pradesh State Electricity Board which lost Rs 1,823.97 crore. While HP Power Corporation registered a loss of Rs 6,89.24 crore, HP Power Transmission Corporation lost Rs 372.59 crore. Loss of HP Himachal Financial Corporation stood at Rs 184.83 crore, HP Tourism Development Corporation recorded a loss of Rs 12,663 crore, State Forest Corporation Rs 98.21 crore and Himachal Horticulture Produce Marketing and Processing Corporation (HPMC) Rs 91.20 crore. On the other hand, Himachal Pradesh Industrial Development Corporation was amon

The ministry will formally notify lawmakers of the MOU and hold follow-up meetings with Indian officials, according to the statement

India and Taiwan on Friday signed a migration and mobility agreement that will facilitate the employment of Indian workers in diverse sectors in the self-ruled island, a move that is seen as reflective of the renewed momentum in the cooperation between the two sides. The memorandum of understanding (MoU) was signed at a virtual ceremony by Director General of the India-Taipei Association (ITA) Manharsinh Laxmanbhai Yadav and Baushuan Ger, the head of the Taipei Economic and Cultural Centre in New Delhi. In order to strengthen the bilateral labour cooperation relations, Taiwan and India have signed an MoU, Taiwan's labour ministry said. Both sides were engaged in discussions over the pact for the last several years. After all the preparatory work is completed, India will be announced as a "new source" country of migrant workers in accordance with the law, the Taiwanese labour ministry said. Taiwan's current source countries for migrant workers are Vietnam, Indonesia, the Philippine

The study is based on 'CHIPS' framework wherein it has scored countries on five pillars - connect, harness, innovate, protect and sustain

Industry body PHDCCI on Friday said it apprehends "severe hit" to trade and industry and loss of employment in the northern states from a lingering farmers' agitation which would result in economic losses of over Rs 500 crore daily. "A lingering agitation will cause Rs 500 crores economic loss daily and will have an impact on Q4 Gross State Domestic Product (GSDP) of northern states majorly Punjab, Haryana and Delhi," said Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry. The industry body looks forward to an early resolution of the issues from both the government and the farmers, with a common consensus for the welfare of all in the country, he added. Agrawal stated that the farmers' agitation is severely impacting the businesses of the Ministry of Micro, Small and Medium Enterprises (MSMEs) in Punjab, Haryana, Delhi and parts of Uttar Pradesh and Rajasthan as raw materials of such units are procured largely from other states to execute production processes and to

The estimate of Rs 76,220 crore is Rs 11,000 crore more than the previously approved amount by the cabinet. The project had been stuck in environmental regulations for the past two years

There is a lot of opportunity for subsidiary units of some of our important companies to come to the market, said Pandey

Chinoy also highlighted the dynamic relationship between the dollar and the rupee

Outbound FDI, expressed as a financial commitment, comprises three components - equity, loans, and guarantees

Goyal expects around $30 billion inflows on the back of the inclusion

Begins assessment of borrowers on ESG norms