India will resist US and European plans to prolong a global ban on cross-border ecommerce charges at the World Trade Organisation conference next week, fearing a continuous massive revenue loss, news agency Reuters reported. New Delhi, South Africa and Indonesia want poor countries to be able to tax cross-border electronic communications and India will advocate […]
The Karnataka government presented the Cigarettes and Other Tobacco Products Bill, 2024 which increased the age limit for the sale of cigarettes from 18 years to 21 years. The Cigarettes and Other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Manufacture, Supply and Distribution) (Karnataka Amendment) Bill was passed in the Assembly […]
Morgan Stanley expects the Reserve Bank of India to start cutting rates from June 2024, with both retail and wholesale inflation figures remaining at a manageable level. The Monetary Policy Committee of the RBI in its February review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, maintaining status quo […]
The restriction on onion exports will remain in place until the originally scheduled deadline of 31 March, as the government seeks to maintain prices low and domestic availability high, the news agency PTI reported. On 8 December 2023, the government halted onion exports till 31 March. “Ban on onion exports has not been lifted. It is in force […]
The recently approved state excise policy, endorsed by the cabinet aims to boost the utilisation of locally cultivated fruits and herbs in liquor production and establish micro-distillation units in Uttarakhand’s hilly areas. With a targeted 10 per cent increase in revenue for the financial year 2024-2025, rising from Rs 4,000 crore to Rs 4,400 crore, […]
The Karnataka state government will adjust tax rates throughout the 18 slabs of Indian Made Liquor (IML) to preserve its earnings and avoid trade diversion to adjacent states. “In order to rationalise the tax slabs and make them competitive with neighbouring states, the tax slabs for IML and beer will be revised,” Chief Minister Siddaramaiah […]
Italy’s AGCM competition watchdog has fined British American Tobacco (BAT) and Amazon a total of 7 million euros ($7.5 million) for misleading advertising concerning heated tobacco products. BAT faces a 6 million euro fine, while Amazon’s penalty is 1 million euros. The fines were imposed due to insufficient information provided to consumers about the nicotine […]
India and the UAE on Tuesday finalised seven agreements, including a Bilateral Investment Treaty (BIT), an Intergovernmental Framework Agreement for the India-Middle East-Europe Economic Corridor and Memoranda of Understanding (MoUs) connecting payment systems. These agreements were reached following discussions between Prime Minister Narendra Modi and President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi. […]
Inaugurating the ‘Gram Parikrama Yatra’ from Shuktirth Bangar on Monday, Uttar Pradesh Chief Minister Yogi Adityanath engaged with beneficiaries of various government schemes, highlighting that over 99 per cent of last year’s sugarcane price has been paid. “Out of the 119 sugar mills operational in the state, 105 are settling payments to sugarcane farmers within […]
China’s Xiaomi said that smartphone component suppliers are hesitant about setting up operations in India due to the government’s severe surveillance of Chinese companies, the company said in a letter, according to Reuters. Xiaomi, which has the largest share of India’s smartphone market (18%), also requests in the letter dated Feb. 6 that India consider […]
