Page 7 - Industry

Pending deal approvals: Industry participants flag lack of quorum at CCI

With various mergers and acquisitions awaiting CCI approval, industry participants have sought measures to address the issue of lack of quorum at the competition watchdog which does not have a chairperson for more than two months now. Mergers and acquisitions beyond a certain threshold require the approval of Competition Commission of India (CCI) under the Competition Act, 2022. Section 5 and 6 of the Act relate to regulation of combinations in the country. For approval of combinations, the regulator needs to have a quorum of three members. However, since the retirement of Chairperson Ashok Kumar Gupta on October 25, 2022, there are only two members, resulting in lack of quorum at CCI. Against this backdrop, various industry players have sought measures to address the current situation till a new chairperson is appointed, saying the lack of quorum is causing delays in clearances for combinations that have been notified to the regulator. The concerns have been flagged to the corpora

HFCs to move regulator, govt to address rate hike and other industry issues

Also plan to take up issues such as impact of IRAC norms, status of Automatic Data Flow requirement, among others

Bengal govt to launch revamped single window industry portal in 2 months

The West Bengal government on Friday said it is revamping its industry-focused single window portal Shilpasathi' for a truly 24x7 service and it is likely to be launched within two months. The new portal will have more features to facilitate greater ease of doing business, state industry Minister Shashi Panja said. The Shilpasathi' portal had been in place for business and industry as a single point of contact for some time and now it is being rebuilt. "The Revamped Shilpasathi portal is expected to be launched by December. This will improve existing services for greater ease of doing business," Panja said at the 191st AGM of the Calcutta Chamber of Commerce. She said that the state is working towards framing a state logistics policy. Logistics is a highly prospective sector that can attract huge investment in the state. The Centre has recently announced a logistics policy that aims to exploit multi-modal transport to reduce costs. Panja, calling for investment in West Bengal, .

Ex-promoters can't hold stake in insolvent firms acquired by others: SC

Court agrees with tribunal orders in Bhushan Steel's acquisition by Tata group firm

New cities being built in country as per global business demand: PM Modi

Prime Minister Narendra Modi on Friday said new cities are being built in the country as per global business demand with focus on improving and expanding old cities. India of the 21st century will get a new momentum from the cities in the country, he said while stressing the need to develop twin cities. Calling speed an important factor in development, Modi said the system of transport should be modern with seamless connectivity. The prime minister was addressing a gathering in Ahmedabad after flagging off the Gandhinagar-Mumbai Vande Bharat Express train and inaugurating phase-1 of the Ahmedabad metro rail project. "India of the 21st century will be getting a new momentum from the cities of the country. With the changing times, it is necessary to continuously modernise our cities with the changing needs," he said. "The system of transport in the city should be modern, there should be seamless connectivity. One mode of transport should support the other. This is necessary," Modi .

Tourist arrivals may just be a third of pre-pandemic levels this year

Rajiv Mehra, head of the Indian Association of Tour Operators (IATO), stated that he does not anticipate inbound foreign visitors to surpass 35 per cent of pre-Covid levels until March 31

PepsiCo to invest Rs 3,740 cr to set up four industrial units in UP

The company proposes to invest Rs 1071. 28 crore here with around 1,500 expected employment avenues

Govt assures bank support for smooth business through Chabahar port

Despite the port being exempted from Iranian sanctions for the development of Afghanistan and India's investment in the port, banks have been risk-averse

Rewriting an industrial hazards law that followed the Bhopal gas leak

While it is easier now to sue a firm for adopting harmful manufacturing processes, successive govts have dragged their feet on goading companies to take out adequate insurance

MCD implements uniform rate for licence fee for new factory, renewal

The reunified Municipal Corporation of Delhi has implemented a uniform rate for paying fee for granting of licence for opening a new factory or its renewal, officials said on Saturday.

WEF 2022: More industrial clusters join net-zero transition initiative

The initiative will enable these hubs to accelerate industrial decarbonization, boost job creation and improve competitiveness

Raghubar Das accuses Jharkhand CM of irregular industrial land allotment

The BJP leader further said Soren's political representative Pankaj Mishra had been given a lease in the name of Mahakal stone in Sahebhanj

Neeraj Sharma Bhardwaj aka NSB pictures aces industry with high-end content

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Odisha government approves industrial projects worth Rs 2,083 crore

The government has approved Indian Oil Corporation Ltd's (IOCL) proposal to set up a 500 KLPD grain-based ethanol plant

CPA Australia and CPA Program: Build a voice of credibility

Ashok Vashisht FCPA (Aust.) shares that a globally recognised designation like CPA Australia can equip you with the best practices and knowledge base to establish professional credibility.

Govt notifies Rs 6k cr PLI scheme for AC, LED light manufacturing

DPIIT has notified the Production Linked Incentive (PLI) scheme for white goods -- air conditioners and LED lights, with a budgetary outlay of Rs 6,238 crore

All industrial units in Delhi operating on cleaner fuels, says DPCC

The Commission had earlier asked the DPCC to identify the industries using unapproved fuels and take stringent penal action in case of non-compliance

Reactions of industrialists on FM Sitharaman's budget for fiscal 2022

Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in Parliament. Following are the reactions of industrialists to budget proposals: Vedanta Resources Executive Chairman Anil Agarwal tweets: "Congratulations to @narendramodi and FM @nsitharaman for a very reformist #Budget2021 with many big ideas including strategic disinvestment of two public sector banks & one insurance company. Thrust on infrastructure will boost growth." Mahindra Group Chairman Anand Mahindra tweets: "In a time of unprecedented economic stress, the Govt's responsibility was to spend enough to revive the economy or else face enormous human suffering. So I had one expectation from this budget: that we should be very liberal in terms of the targeted fiscal deficit. Box ticked." RPG Enterprises Chairman Harsh Goenka tweets: "Combination of Pujara & Pant innings - consistency and flamboyance! Steady focus on infra, commercial laws, ease of business with big shots of monetising PSU ..

Industry bodies CII, EEPC worried by hurdles faced by engineering exporters

CII, EEPC are leading industry bodies

Businesses remain unaffected despite weekend curfew in Ahmedabad

Gujarat govt imposed curfew from Friday 9 pm till Monday 6 am in Ahmedabad