Page 77 - India

No loss to India on removal of customs duties on 8 US products: Minister

The removal of retaliatory customs duties on eight American products, including apples, walnuts, and lentils, will not result in a loss to the country, Parliament was informed on Friday. India had imposed these duties on 28 US products in retaliation to America's move to increase import duty on certain steel and aluminium goods. During Prime Minister Narendra Modi's recent visit to Washington, both sides decided to resolve six trade disputes at the World Trade Organisation. India also agreed to remove the duties. The government has decided to remove retaliatory customs duties on import of almonds (fresh or dried, in shell), walnuts, chickpeas, lentils, apples, medical diagnostic reagents, and boric acid, Minister of State for Commerce and Industry Anupriya Patel said in a written reply to the Rajya Sabha. "The removal of retaliatory tariffs or cuts in import duty with the US does not result in a loss to India," she said. "It simply means that the additional duties imposed as a ...

India, Sri Lanka agree to boost ties via energy, power and port projects

The two countries also will soon restart negotiations on a more expansive trade deal known as the Economic and Technological Cooperation Agreement

India may continue supply interventions to curb food inflation: Nomura

Earlier this month, the government stepped in to procure tomatoes from certain centres to redistribute them in regions of high consumption to bring down prices

India, Sri Lanka adopt vision document to expand economic partnership

India and Sri Lanka on Friday adopted an ambitious vision document to significantly expand economic partnership after wide-ranging talks between Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe. In his media statement, Modi, referring to the economic difficulties in Sri Lanka last year, said India stood "shoulder-to-shoulder" with the people of the island nation during the crisis as a close friend. The prime minister said firming up of an agreement for launch of the UPI payment system in Sri Lanka will result in fintech connectivity between the two sides. The past one year has been full of challenges for the people of Sri Lanka, he said, adding that being a close friend, as always, India stands shoulder-to-shoulder with the people of Sri Lanka. In his comments, Modi said the security interests and development of India and Sri Lanka are intertwined and it is necessary to work together keeping in mind each other's security interests and sensitivities. Modi

Convergence among G20 members on key issues except Ukraine conflict: MEA

India on Thursday said there has been high degree of convergence among the G20 nations on all key developmental issues but differences persist on the Ukraine conflict. The comments by External Affairs Ministry Spokesperson Arindam Bagchi came days after the G20 Sherpas held extensive deliberations on the draft leaders' declaration at a three-day meeting in Karnataka's Hampi. The aim of the third Sherpas' meeting under India's G20 presidency was to give shape to the leaders' declaration to be adopted at the New Delhi summit of the grouping in September. There have been sharp differences among the Russia-China combine and the Western countries over the text to describe the Ukraine crisis. At a media briefing, Bagchi said the Sherpa meeting was "very constructive". He said there have been differences on paras relating to the conflict in Ukraine but largely there is "high degree of convergence" among the participants on all other issues and that is a "very positive thing". "I would n

India's G20 presidency strived to strengthen EWG legacy: Bhupender Yadav

Union Labour and Employment Minister Bhupender Yadav on Thursday said India's presidency of G20 has strived to strengthen the legacy of the group's Employment Working Group (EWG). Addressing the two-day Labour and Employment Ministers' (LEM) meeting here, he hailed the G20 EWG for effectively collaborating and working towards finalising the outcome documents. Recognising employers' associations and workers' unions as key facilitators for effective policy making, Yadav appreciated the presence of Labour20 (L20), Business20 (B20), and International Organization of Employers (IOE) in the LEM meeting. In a joint statement, the L20 and B20 called for cooperative industrial relations based on trust and supported by tripartite cooperation, dispute settlement, collective bargaining and involvement of social partners in policy development discussions. It also underscored the proactive role of policy makers in monitoring global trends on employment creation, fluctuation in commodity prices a

India, Japan sign pact for semiconductor development: Ashwini Vaishnaw

India and Japan on Thursday signed an agreement to develop the semiconductor ecosystem, including research and manufacturing, Union minister Ashwini Vaishnaw said on Thursday. The agreement was signed between Vaishnaw and Japan's Minister of Economy, Trade and Industry Yasutoshi Nishimura in the national capital. "Japan and India have signed a memorandum for semiconductor design, manufacturing, equipment research, talent development and to bring resilience in the semiconductor supply chain," Vaishnaw said. The nations will create "implementation organisation" that will work on government-to-government and industry-to-industry cooperation, Vaishnaw added.

Govt bans exports of non-basmati white rice to boost domestic supply

The government on Thursday prohibited export of non-basmati white rice, according to a notification of the directorate general of foreign trade (DGFT). "Export policy of non-basmati white rice (semi-milled or wholly milled rice, whether or not polished or glazed)...is amended from free to prohibited," the DGFT said in a notification. However, it said that the consignments of this rice will be allowed to be exported under certain conditions such as where loading of this rice on the ship has commenced before this notification. Export will also be allowed on the basis of permission granted by the government to other countries to meet their food security needs and based on the request of their governments, it added.

IAF Command develops satellite-based real time aircraft tracking system

The Indian Air Force's Maintenance Command has developed a satellite-based real time aircraft tracking system that can get information about the location of an aircraft, a senior official said here on Thursday. Talking to reporters, Air Marshal Vibhas Pande, Air Officer Commanding in Chief (AOC-in-C), Maintenance Command located here, said the aircraft tracking system would be implemented once the final trial pending in the eastern sector gets over. "One of the Base Repair Depots (BRD) under the aegis of Air Force's Maintenance Command has indigenously developed a real time aircraft tracking system, wherein the Air Force can get the update on the location of a flying aircraft every 30 seconds," he said. The tracking system is satellite-based and can track the path of an aircraft, Air Marshal Pande said. The final trial of the aircraft tracking system is pending in the eastern sector and once it is completed then modification will be implemented in all the aircraft, he said. "Trial

Don't make it an issue of prestige: SC tells govt on Cheetah deaths

A bench of Justices BR Gavai, JB Pardiwala and Prashant Kumar Mishra made these observations while hearing the issue related to the death of cheetahs.

India, Germany to strengthen bilateral ties: German Vice Chancellor

Germany's Vice Chancellor and Minister of Economic Affairs and Climate Action Robert Habeck on Thursday said India and Germany want to further strengthen bilateral cooperation and increase investments and collaboration among companies. He arrived on a three-day visit to India on Thursday. Talking to reporters on the sidelines of the Indo-German Business Forum here, Habeck also said China is Germany's biggest trading partner and a lot of German and European companies have invested in that country. "It is a huge market and this goes the same for India and for the US for example. On the other hand we see that being dependent on only one market could be a risk and even more so if we see that economic issues are not politically neutral, that interests are interwoven in the economic relations," he said. He further said "we can't decouple from China" but de-risking and diversification is of highest importance. Diversification, he said means that other partnerships, the Indo-German ...

Indian truckmakers eye electric as one of the ways to tackle pollution

15 companies including Amazon.com Inc., Nestle SA and India's Aditya Birla Group joined forces to advance the electrification of the nation's truck fleet

India likely to rise as great power, West making sensible bet: Martin Wolf

India is indeed likely to be a rising "great power" and its economy will have the size similar to that of the US by 2050, according to noted economics commentator Martin Wolf who has also highlighted that Western leaders are making a sensible bet on the country. "I judge that India should be able to sustain growth of GDP per head at 5 per cent a year, or so, up to 2050. With better policies, growth might even be a bit higher, though it could also be lower," Wolf said in a column written in the Financial Times. He also said India is an obvious location for companies following a "China plus one" strategy and has the advantage over obvious competitors of a large home market. India is the world's fifth largest economy and third largest one in terms of purchasing power. The United Nations has forecast the country's population to touch 1.67 billion by 2050 and currently it is 1.43 billion. Wolf noted that the country's bank balance sheets have been repaired and in all, "the credit engine

Coal mining bet stumbles as wary banks weigh rising risks: Official

Coal officials and banking executives in the world's second-largest coal producer discussed the issue at a June meeting called by the government in a bid to ease the funding deadlock

India's role critical in combating spread of synthetic drugs: US envoy

Washington DC [US], July 20 (ANI): Stating that India is a global leader in the chemical and pharmaceutical industry, US special envoy Uzra Zeya said that New Delhi's role is critical in combating the spread of synthetic drugs.US Under Secretary for Civilian Security, Democracy and Human Rights made the remarks at the 4th US-India Counternarcotics Working Group meeting here in Washington.Indian Ambassador to the US, Taranjit Singh Sandhu also said that India and the US are working to expand the scope of bilateral cooperation in drug policy."Translating vision into action! Delighted to join opening session of India-US Counter Narcotics Working Group in #WashingtonDC. Important discussions ahead as we consolidate bilateral cooperation in drug policy and work to expand its scope as guided by PM @narendramodi & President Joe Biden @POTUS," the Indian envoy said on Twitter.Addressing the session, Uzra Zeya said, "Prime Minister Modi's official state visit reaffirmed that the US-India

India's rise from colonialism worth in-depth analysis: S Africa minister

India's rise from the ashes of colonialism to becoming a tech giant today is worth an in-depth analysis, a South African minister said at a BRICS summit on Wednesday. Nkosazana Dlamini-Zuma, Minister in the presidency for Women, Youth and Persons with Disabilities, hailed India's rise in the global economy. "The Indian civilisation, which spans thousands of years, and the country's rise and development from the ashes of colonialism should be looked at closely," she told delegates from the BRICS bloc at the BRICS Youth Summit in Durban. The summit is one of a range of preparatory meetings for the 15th BRICS Summit to be attended by leaders of the member countries in Johannesburg next month. The BRICS bloc comprises Brazil, Russia, India, China and South Africa. Three decades ago, few imagined that India would rule the IT industry, and that of the top ten IT companies in the world, nearly half would be of Indian origin. Fewer of us imagined that Indian companies would be providing jo

Asia Cup 2023 schedule: India vs Pakistan on September 2 in Kandy

As many six teams, including India, Pakistan, Nepal, Afghanistan, Sri Lanka and Bangladesh, will play the 50-over format of Asia Cup 2023

'Ma, grace under pressure': Rahul Gandhi's post after emergency landing

The post included a photo of Sonia Gandhi wearing an oxygen mask, with the caption 'Ma, the epitome of grace under pressure'

Apple Watch AFib history now in India to help users with heart conditions

Apple introduced AFib history feature for the Apple Watch during WWDC 2022, which is now available in India. The feature helps users suffering from heart ailments to monitor their health

Expect premium hotel occupancy in India to be at decadal-high of 72%: Icra

Premium hotel occupancy in India is estimated to be at a decadal-high of 70-72 per cent with average room rates expected around Rs 6,000 to Rs 6,200 in FY24, ratings agency ICRA said on Wednesday. Consistent improvement in consumer sentiments despite the inflationary environment, stable corporate performance, and domestic air passenger traffic inching above pre-Covid levels augur well for travel and hotel demand, ICRA said in a statement. The ratings agency said it "estimates pan-India premium hotel occupancy at around 70-72 per cent in FY2024, after recovering to 68-70 per cent in FY2023." Pan-India premium hotel average room rates (ARRs) are expected to be at Rs 6,000 to Rs 6,200 in FY2024, it added. "While the occupancy is expected to be at decadal highs, the RevPAR (Revenue per available room) is expected to remain at a 20-25 per cent discount to the FY2008 peak," ICRA said. ICRA Ltd Vice President and Sector Head Corporate Ratings, Vinutaa S said gateway cities like Delhi an