India will undertake another survey of family consumption as well as goods and brands at retailers to get a complete picture of domestic spending before adjusting the consumer price index (CPI), the news agency Reuters reported. The government revealed the preliminary findings of the 2022/23 household consumption expenditure survey, the first in more than a […]
Prime Minister Narendra Modi affirmed to transformation of India into a Global Export Hub as he inaugurated the global textile event, Bharat Tex 2024 at Delhi’s Bharat Mandapam on Monday. “We have a firm belief that we will transform India into a ‘Global Export Hub’. In the last decade, we have added another new dimension […]
he Maharashtra FDA’s accusation of McDonald’s using cheese analogues prompted inspections at 25 fast-food chains, including Subway, KFC and Domino’s. Amid the Maharashtra Food and Drug Administration (FDA) accusation of the fast-food chain Mcdonald’s of using cheese analogues instead of real cheese in their offerings, the other fast-food chains offering cheese items on their menus […]
India has extended the timeline for duty-free imports of yellow peas by a month through April, 2024, an official gazette notification said. In early December, the central government allowed duty-free imports of yellow peas until March 2024. It was part of New Delhi’s intervention to cool the prices of the overall pulse basket. Reportedly, the […]
The Maharashtra FDA has pushed down on fast food giant McDonald’s, accusing it of a cheesy fraud involving the use of replacements in burgers and nuggets instead of real cheese. It has suspended the licence of a McDonald’s restaurant in Ahmednagar, forcing the business to remove the term “cheese” from a variety of goods. The […]
Commerce and Industry Minister Piyush Goyal on Wednesday, emphasised India’s commitment to fair and open negotiations in trade and investment agreements, ensuring the interests of the people are safeguarded. Speaking at the CII India-Europe conclave, Goyal mentioned that countries engaging in Free Trade Agreements (FTAs) and investment pacts with India should recognise the substantial market […]
To provide relief to small bars and taverns with an annual business turnover of less than Rs 10 lakh, recently brought under the Value Added Tax (VAT), the Indian government has introduced an option for these entities to opt for the ‘composition scheme.’ This scheme allows them to pay just 2 per cent of their […]
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 […]
