Product Country
Increase Font Size Decrease Font Size
Menu
Market News
PM Modi woos global cos, cites green shoots in economy.

Jul 10, 2020

Prime Minister Narendra Modi invited global companies to set up businesses in India, listing various reforms and ‘green shoots’ of recovery that provide attractive investment avenues and highlighting defence and space among the sectors that offer new economic opportunities.
 
'We are laying out the red carpet for all global companies to come and establish their presence in India,' Modi said at an event, India Global Week 2020. 'Very few countries will offer the kind of opportunities that India does today.'
 
The PM said India is already seeing green shoots in the economy and the country is 'ready to do whatever it can do to further global good and prosperity.' He said even during the pandemic, the government had undertaken structural reforms that will improve the economy in the longer run.
    
Source: The Economic Times



U.S. in talks with India on market access, trade concessions: U.S. envoy.

Jul 10, 2020

The United States is in talks with India on market access for its goods in exchange for reinstating New Delhi's trade concessions under the Generalised System Of Preferences (GSP), U.S. ambassador to India Kenneth Juster said on Thursday.
 
'The GSP by law requires that there be some market opening measures in recipience of that preferential system, and that's what we have been trying to reach an agreement on with the government of India,' Juster said at India Global Week 2020, an online business summit.
 
Last year, Washington scrapped India's trade concessions under the GSP programme that allowed duty-free entry to the U.S. market for up to $5.6 billion of Indian exports in retaliation for New Delhi's high tariffs and rule on e-commerce.
    
Source: The Economic Times



India plans to enhance trade with Bangladesh.

Jul 10, 2020

India is adopting a multi-pronged strategy to enhance trade and business partnership with Bangladesh amid Beijing's recent efforts to woo Dhaka with duty-free access to its products.
 
While Chinese trade concessions can push Bangladesh into a 'dual deficit and debt trap', India is activating various connectivity initiatives for seamless movement of Bangladeshi products to the landlocked northeastern states and other parts of India, ET has learnt.
 
There is a major push to connectivity initiatives via sea ports, inland water transport, rail and highways that will enable Bangladesh to connect with Bhutan and Nepal markets too along with India, according to experts who focus on cross-border trade and connectivity issues. Both India and Bangladesh are undertaking various measures to restore the pre-1965 rail and other connectivity links.
    
Source: The Economic Times



India-EU summit to be held through video conference on July 15.

Jul 10, 2020

The 15th summit between India and the European Union will be held via video conference on July 15, officials of the influential grouping said on Thursday. Prime Minister Narendra Modi will hold extensive talks with President of the European Council Charles Michel and President of the European Commission Ursula von der Leyen on a range of issues in the summit, they said.
 
The leaders are expected to reiterate their determination to promote effective multilateralism and a rules-based multilateral order, with the United Nations (UN) and the World Trade Organisation (WTO) at its core, the officials said. The summit will be an opportunity to strengthen the EU-India strategic partnership based on shared principles and values of democracy, freedom and rule of law, they said.
    
Source: The Economic Times



Atma Nirbhar Bharat is being self-sustaining and self-generating: EAM S Jaishankar.

Jul 10, 2020

The Centre on Thursday lauded Prime Minister Narendra Modi saying his message at the India Global Week 2020 was 'strong and clear'.
 
Taking to micro-blogging site Twitter, External Affairs Minister (EAM) S Jaishankar said that Atma Nirbhar Bharat merges domestic production and consumption with global supply chains. He added that it's not about being self-contained or being closed to the world rather being self-sustaining and self-generating.
 
'Strong & clear message to the world today by PM Narendra Modi at IGW 2020. Atma Nirbhar Bharat merges domestic production & consumption with global supply chains. It is not about being self-contained or being closed to the world. It is about being self-sustaining & self-generating,' tweeted Jaishankar.
    
Source: Zee News



Govt to announce measures to boost demand; fiscal, monetary headroom available: Sanjeev Sanyal.

Jul 10, 2020

Asserting that economic activity is steadily coming back on track, Principal Economic Adviser Sanjeev Sanyal on Thursday said the government will undertake measures to boost demand and there is both monetary and fiscal headroom available.
 
He hinted that the Reserve Bank of India (RBI) may further cut interest rates as a monetary policy tool to perk up demand.
 
'We have announced packages along the way and most of the packages so far have really been about cushioning the demand shock. We haven't, so far at least, been going to the rebuild of the demand phase. We will in the future. We do have monetary and fiscal space to do that,' he said.
    
Source: The Economic Times



‘Kashi’s display of hope, enthusiasm amid Covid-19 crisis is inspiring’: PM Modi.

Jul 10, 2020

Prime Minister Narendra Modi on Thursday hailed the people of his parliamentary constituency, Varanasi, amid the Covid-19 crisis and said that the display of enthusiasm and hope by its people is inspiring.
 
'I am taking inspiration from all of you to work more. I seek your blessings,' PM Modi said during his interaction with various representatives of Varanasi-based Non-Governmental Organisations (NGOs) today. These representatives provided ration kits and food packets to people amid the coronavirus-induced lockdown. PM Modi attended the event via video conferencing.
 
'Kashi is full of hope and enthusiasm amid this crisis,' the prime minister said, extending wishes amid the holy and auspicious month of saavan.
    
Source: Hindustan Times



Goyal holds meeting with Sovereign Funds, Institutional Investors.

Jul 10, 2020

Commerce and Industry Minister Piyush Goyal on Thursday held a meeting with sovereign funds and institutional investors on ways to promote investments in the country.
 
In the meeting, the minister spoke on the need for large investments in the short term for India's long term development.
 
'Held a round table meeting with Sovereign Funds and Institutional Investors and spoke on the need for large investments in the short term for India's long term development,' Goyal said in a tweet.
 
He added that the government is taking decisive steps to reform and promote domestic industry, contributing to an Aatmanirbhar Bharat.
    
Source: Outlook India



Companies and e-commerce players need to display 'country of origin' on products: Paswan.

Jul 10, 2020

Consumer Affairs Minister Ram Vilas Paswan on Thursday said state governments have been directed to strictly enforce the provision that requires companies and e-commerce players to display the 'country of origin' on all products. The provision of declaration of 'country of origin' has been in place since January 2018 for all manufacturers, importers, packers and e-commerce players. The commerce ministry has now been asked to ensure that e-commerce players too comply with this rule strictly, he said.
 
'We have reiterated that we have such a provision in place. We have directed state governments to strictly enforce the provision and take action against violators,' Paswan told reporters.
    
Source: The Economic Times



Archive