Finance Minister Niramala Sitharaman on Thursday said that the manufacturing sector is contributing significantly to the economy following government initiatives and noted that India’s second-quarter growth this year was the highest in the world. Replying to a short-duration discussion on the “economic situation in the country” in the Rajya Sabha, Sitharaman said there was sustained […]
India has prohibited the export of onions till March 2024, as per an official notification issued late on Thursday evening. The DGFT notification said the export of onions will be allowed on the basis of permission granted by the central government to other countries based on the request made by the countries. Onions are currently […]
Domestic electronics manufacturing has witnessed a remarkable increase in the past decade, growing by over 400 per cent to reach a staggering Rs 8.22 lakh crore in FY 2022-23. As informed by Minister of State for Electronics and IT Rajeev Chandrasekhar in the Lok Sabha, India’s domestic mobile phone manufacturing has achieved a milestone, with […]
Ecommerce is a rapidly evolving and dynamic sector, necessitating extensive consultations with stakeholders for the development of a national policy, as per information presented in Parliament on Wednesday. Minister of State for Commerce and Industry, Som Parkash, stated in a written response to the Lok Sabha that a draft ecommerce policy was made public on […]
US Secretary of Commerce Gina Raimondo and Union Minister for Commerce and Industry Piyush Goyal discussed future collaboration on supply chains, workforce development and other sectors. The two leaders held discussions during a virtual US-India CEO Forum meeting held on 30 November, according to US Department of Commerce press release. During the meeting, US and […]
The Centre has introduced guidelines for the prevention and regulation of dark patterns and has banned its use on e-commerce platforms that intend to deceive customers or manipulate their choices. In a gazette dated 30 November 2023 by the Central Consumer Protection Authority (CCPA), the new guidelines were notified and will apply to all ecommerce […]
The Ministry of Corporate Affairs (MCA) is likely to investigate Chinese smartphone manufacturer Vivo under a Serious Fraud Investigation Office (SFIO). Vivo has already been accused by the Enforcement Directorate (ED) of laundering, a leading media house reported on Saturday from people familiar with the matter. The ministry has instructed Vivo’s regional director to conduct […]
Good and Services Tax (GST) Revenue collection for November 2023 stands at Rs 1,67,929 lakh crore, recording the highest growth rate of 15 per cent Year-on-Year, an official statement issued by the Ministry of Finance said on Friday. The Finance Ministry said that gross GST collection crossed the Rs 1.60 lakh crore mark for the […]
Hours after the Union Finance Ministry stated that the Indian economy grew 7.6 per cent during the July-September quarter of the current financial year 2023-24, it said that India’s GDP is expected to grow by 6.5 per cent in financial year 2024. Growth projections for Financial Year 2024 indicate that India will grow by 6.5 […]
Mandi prices of various basmati paddy varieties in India have witnessed a significant surge, ranging from 11 to 14 per cent, just one month after the government’s decision to reduce the minimum export price (MEP) of basmati rice to USD 950/tonne, aiming to stimulate exports. Exporters attribute the increase in basmati paddy prices to robust […]
