Commerce and Industry Minister Nirmala Sitharaman in a written reply in Rajya Sabha on Wednesday said separate data regarding investment made by foreign companies in Small and Medium Enterprises (SMEs) is not maintained but remittance-wise data is available in public domain at the website of Department of Industrial Policy & Promotion at www.dipp.nic. Foreign Investments […]
Indian Government is taking various measures for bringing investment from Central Eastern Europe such as opening up Foreign Direct Investment in many sectors, carrying out FDI related reforms and liberalization and improving ease of doing business in the Country, said minister of State in the Ministry of Heavy Industries and Public Enterprises Mr. Babul Supriyo […]
Coal India Limited (CIL) has surrendered two licenses held by its subsidiary Coal India Africana Limited in Mozambique and with this has no foreign coal assets. However, CIL is looking for coking coal assets abroad since viable domestic coking coal reserves in the country are facing constraints, both commercial and technical, said Mr. Piyush Goyal, […]
Indian government is planning to revise the tax treaties with partner countries to enable the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) to use the data for prosecution of those who have stashed black money abroad, said a statement. Treaty partner countries have been requested to modify the tax treaties to explicitly include […]
A 20-member Indian trade delegation led by Chairman of Agricultural and Processed Food Products Export Development Authority (APEDA) visited Iran from January 28 to 30, 2017 to promote export of Basmati rice that was banned since five months. In view negative publicity in Iran media about Indian rice, the promotional event was held at Hotel […]
Indian Ministry of Railways and Italian state-owned Ferrovie Dello Stato Italiane Group, managing the Italian railway sector, have signed on Thursday an MoU for cooperation in rail safety and train operations. The MoU covers areas of safety audit of Indian Railways and measures for enhancing safety in train operation, Assessment and certification of advanced technology […]
India has signed an Agreement for IDA credit of US$201.50 million for the “Third Technical Education Quality Improvement Programme” (TEQIP III) on February 1, 2017 in New Delhi. The loan agreement envisages an active funding participation in Indian Engineering Education Institutes and improve the efficiency of the Engineering Education System in Uttarakhand, Himachal Pradesh, Bihar, […]
Indian embassy in Nepal has handed over a cheque for NRs.24,97,10,698.17 towards 25 percent of the cost of the four contracted road stretches in Nepal, as part of the aid to support infrastructure development in the Himalayan neighbour. The roads — Birendrabazaar-Mahinathpur, Janakpur-Yadukuwa road, Manmat-Kalaiya-Matiarwa (0-15 km road) and Manmat-Kalaiya-Matiarwa (15-26.660 km road) — are […]
Presenting the General Budget 2017-18 in the Lok Sabha on Wednesday, Feb. 1, 2017, Indian Finance Minister Arun Jaitley said that the Foreign Investment Promotion Board (FIPB) will be abolished in a phased manner by the end of fiscal year 2018-19. Since the Government has already introduced substantive reforms in FDI policy with more than […]
The Indian government has announced in its Budget 2017-18 severral measures to make India a favourable destination for foreign investments by providing an environment of “Ease of Doing Business”. The Finance Minister Mr Jaitley raised the threshold limit for audit of business entities that opt for presumptive income scheme from Rs. 1 crore to Rs. […]
India, first among the countries playing to the gallery when congratulating US President-elect Donald Trump, is slowly biting its fingers for the knee-jerk reaction as the first week of his presidency has clearly spelled Doomsday on H1B visas, while the ban on Muslims from 7 countries, though partially, was rolled out in haste. Though a […]
The Fiscal Responsibility and Budget Management (FRBM) Committee headed by Mr. N.K. Singh presented its Report on Monday to Union Finance Minister Arun Jaitley. Mr. N.K. Singh, former Revenue and Expenditure Secretary and former Member of Parliament presented the Report to Mr Jaitley in his office in North Block in New Delhi. The panel was […]
Indian ministry for MSME finalised MoU on MSME Cooperation with Indian Ocean Rim Association (IORA) member countries that will be effective once signed by 5 countries. The MoU finalized would be signed soon at an appropriate forum, said a statement. The focus areas of the Memorandum of Understandings (MoUs) include finalising linkages and alliances amongst […]
Following reports in sections of media stating that the Union Government has compromised the national interest by collaborating with a tainted UK based Note Printing Company, a statement from the Ministry of Finance denied that the company is in any way involved in printing new currency notes. A report in November by Sabrangindia.com alleged that the […]
Indian tourism sector has seen 13.6% growth in Foreign Tourist Arrivals (FTAs) in December 2016 over the same period in 2015 and US accounts for highest share of tourist arrivals followed by Bangladesh and UK in December 2016, said the Ministry of Tourism in a statement. The tourism sector earned Rs.16,805 crore in Foreign Exchange […]
after the traumatic brakes on India growth story due to demonetisation, India will see a GDP loss of 1% in the current fiscal year and 0.4% next year, said IMF within days after the World Bank downgraded India growth estimate. The International Monetary Fund (IMF) estimates India’s growth rate for the current fiscal year to […]
A financing agreement for IDA credit of US$48 million for the ‘Nagaland Health Project’ was signed with the World Bank in New Delhi on Monday. The Financing Agreement was signed by Mr. Raj Kumar, Joint Secretary, Department of Economic Affairs on behalf of Government of India and Mrs. Genevieve Connors, Acting Country Director, World Bank […]
The top 62 billionaries of the world own 50% of world wealth while in India, the top 57 billionaires own what 70% of the population owns, said an Oxfam study that was released on Monday, showcasing rising income inequality, which portends more conflicts and rise in crime worldwide. The London-based non-profit asked India to introduce […]
Demonetization has resulted in sharp decline in terror funding, hawala trade, supari killings and human trafficking of young girls as sex slaves, mainly from Nepal and the North East, said Union Law and IT Minister Ravi Shankar Prasad on Thursday speaking at a seminar. Addressing the seminar, jointly organized by the Press Club of India, […]
After demonetisation, all calculations and projections have been turning red and even on forex front, the Indian rupee is seen dwindling further in value to about 70 per US dollar in 2017, said a poll-based survey by Reuters. “The rupee is expected to fall further against the US dollar this year to a record low, […]