CEA urges large companies to make timely payments to SMEs for economic growth
V Anantha Nageswaran, the Chief Economic Advisor to the Government of India, on Saturday, stressed the critical need for large enterprises to ensure timely payments to small and medium enterprises (SMEs), highlighting that such payments are essential for the financial health and growth of these smaller businesses. He made these
ASEAN-India: Progress in initiating tariff negotiations
Some ground was covered towards initiating tariff negotiations at the ASEAN-India Trade in Goods Agreement (AITIGA) joint committee meeting for review of the bilateral pact, per an official statement. The eight subcommittees set up to negotiate various aspects of the trade pact also made good progress in textual discussions, the
Trade associations need to operate within competition law framework, says CCI chief Ravneet Kaur
Trade associations must operate within the framework of competition law, as their significant influence can sometimes result in unintended consequences like facilitating anti-competitive agreements or practices, said Ravneet Kaur, Chairperson of the Competition Commission of India (CCI). Addressing a regional workshop organised by the CCI in collaboration with the Merchants’
Cost of imported solar cells and glasses to rise as Chinese slashes export rebates
The cost of solar photovoltaic components like solar cells, glasses and ribbons — imported into India from China — are expected to rise after the Chinese government recently slashed the tax rebates offered for exporting such components. Indian manufacturers feel that the rise in import costs will in turn affect the
PM Modi to unveil landmark Internship scheme on December 2
Prime Minister Narendra Modi is expected to formally inaugurate the Prime Minister Internship Scheme (PMIS) on December 2, marking a significant step toward enhancing employability among India’s youth. He is also likely to distribute the first set of joining orders to a select group of candidates chosen under the pilot
Finance Ministry gives ‘in-principle’ nod for ‘Consolidation of IFCI Group’
Department of Financial Services (DFS) in the Finance Ministry has given its ‘in- principle’ nod to consider ‘Consolidation of IFCI Group’. This would entail merger/amalgamation of IFCI Limited and StockHolding Corporation of India Limited and other group companies of IFCI Limited. Finance Ministry has also advised IFCI Limited to take
FinMin gives ‘in-principle’ nod for ‘Consolidation of IFCI Group’
Department of Financial Services (DFS) in the Finance Ministry has given its ‘in- principle’ nod to consider ‘Consolidation of IFCI Group’. This would entail merger/amalgamation of IFCI Limited and StockHolding Corporation of India Limited and other group companies of IFCI Limited. Finance Ministry has also advised IFCI Limited to take
Microfinance in farming sector: Unlocking new opportunities in rural economies
Farming is vital to India’s socio-economic development, and 42.3 per cent of its population depends on it for livelihood. What is more, it has a share of 18.2 per cent of the country’s GDP. Over time, the sector has shown consistency given its average annual growth rate of 4.18 per
India’s Coastal Shipping Bill set to streamline regulations, liberalise licence norms, spur growth
India’s Ministry of Ports, Shipping and Waterways (MoPSW) is planning to do away with licensing norms in coastal shipping, while allowing easier but selective access to the country’s inland waterways. The proposed Coastal Shipping Bill 2024, likely to the tabled during the upcoming Winter Session of the Parliament, will remove
Demand for Indian cotton emerges as prices drop to ₹53,000 a candy
Cotton prices seem to be bottoming out with some kind of demand kicking in from the spinning mills at the lower end of the prices, trade sources said. Cotton prices, which had touched a seasonal low of ₹53,000 per candy (of 356 kg) on lack of demand, are ruling steady