Government may raise import duties by 5-10%

Government may raise import duties by 5-10% India is considering raising import duties by 5%-10% on more than 50 items including smartphones, electronic components and appliances in the upcoming budget. The move to increase import duties is part of Prime Minister Narendra Modi’s self-reliant India campaign that aims to promote and support domestic manufacturing, said the sources, who asked not to be named as the discussions are not public. One of the sources said the government w

19 January, 2021

Labor laws in India

Labor laws in India The Union Labour and Employment Ministry is likely to appoint legal consultants this month to look at whether the States’ labour laws are in consonance with the Centre’s four new labour codes, according to senior Ministry officials. The codes on wages, social security, industrial relations and occupational safety, health and working conditions could be implemented before the April 1 target. Labour and Employment Secretary Apurva Chandra told that the ru

19 January, 2021

eCommerce rules in India

eCommerce rules in India What is the news? India is considering revising its foreign investment rules for e-commerce. This move could compel players, including Amazon.com Inc., to restructure ties with some major sellers. The government discussions coincide with a growing number of complaints from India’s bricks-and-mortar retailers, which have for years accused Amazon and Walmart Inc.-controlled Flipkart of creating complex structures to bypass federal rules, allegations the U.

20 January, 2021

S-400 Triumpf

S-400 Triumpf As India prepares to receive the first batch of S-400 long-range air defence system by year-end, the first group of Indian military specialists are scheduled to depart for Moscow soon to undergo training courses on the S-400. S-400 supplies initiative is one of the flagship projects in the Russian-Indian military and military-technical cooperation, which historically constitutes the main pillar of the special and privileged strategic partnership between our two friendly

20 January, 2021

Economic Data

Economic Data Fitch Ratings on Wednesday said India’s medium-term growth potential is at about 6.5% but weak implementation of reforms, combined with continued financial sector problems, could lower its potential. It said the revival of the reform agenda is among the Indian government’s policy responses to the COVID-19 pandemic shock. ‘Partially offset’ “If implemented effectively, we believe these reforms may help to support India’s medium-

21 January, 2021

IFSCA becomes Associate Member of IOSCO

The International Financial Services Centres Authority (IFSCA) has become an Associate Member of the International Organization of Securities Commissions (IOSCO). The Headquarter of IOSCO is at Madrid, Spain. The IOSCO is the international organization of the world’s securities regulators, covering more than 95% of the world’s securities markets, and is also the global standard-setter for the securities sector. It works intensively with

02 January, 2021

UNDP and PCMC join hands for ‘first social impact bond’

Pimpri Chinchwad Municipal Corporation, Pune has recently signed an MoU with United Nations Development Programme (UNDP) India to co-create India’s first Social Impact Bond (SIB). This is the first time that a government body will act as the ‘outcome funder’ in a bond, whereas traditionally most government-funded public projects require large and early investments by the government with a substantial gestation period of outcomes and involve various kind

02 January, 2021

ADB and India sign $10 million loan to support horticulture in HP

The Asian Development Bank (ADB) and the Government of India have signed a $10 million project readiness financing (PRF). This agreement aims to help finance piloting activities, and design and capacity building for an ensuing project that aims to expand horticulture production and farm household income in the hill state of Himachal Pradesh. The PRF project will support advance actions to achieve a high level of project readiness through detailed design activities, cap

01 January, 2021

ADB to provide $231 mn loan to enhance power generation capacity in Assam

The Asian Development Bank (ADB) has signed a $231 million loan with the Government of India to augment electricity generation capacity in the state of Assam. This is the third tranche loan for the ‘Assam Power Sector Investment Programme’ that was approved by the ADB Board in July 2014. Under the project, 120 megawatts (MW) hydroelectric power plant would be constructed. The programme focuses on enhancing the capacit

01 January, 2021

Light House Projects

Prime Minister Narendra Modi laid the foundation stone of Light House projects (LHPs) at six sites across six States through video conference on 1st January 2021. The LHPs will be implemented at Indore (Madhya Pradesh), Rajkot (Gujarat), Chennai (Tamil Nadu), Ranchi (Jharkhand), Agartala (Tripura) and Lucknow (Uttar Pradesh). The project is being constructed under the Global Housing Technology Challenge (GHTC)-India. It has been conceptual

01 January, 2021

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