Country Financial News

Analysing the FDI Flow India's thriving economy has also attracted $46 billion in FDI during FY2023, registering a remarkable growth of 89% since FY2014. This warrants scrutiny of the jurisdictions contributing to this inflow.

US Trade Representative (USTR) Katherine Tai said the India-US relationship is on an upward trajectory and the two sides should map out their economies to develop supply chains in complementary ways. In an interview with ET's Kirtika Suneja and Deepshikha Sikarwar, Tai, who was on a visit to India to attend the G20 trade ministers meeting, said the upcoming conference of the World Trade Organization (WTO) will be the first of the «reform ministerials».

batteries used in electric vehicles, consumer electronics and high-tech electricity grids — have asked the government to make flexible the minimum capacity required to be set up for availing of incentives under the ₹18,100 crore production linked incentive (PLI) scheme for advanced chemistry cells (ACC). The government has been pushing the shift towards EVs in its bid to clamp down on crude oil imports and vehicular pollution. The PLI scheme for ACC has been floated to make India self-reliant in the transition to clean energy, when the country is projected to see sales of a million electric cars and 22 million electric two-wheelers by 2030. Senior government officials ET spoke with said industry stakeholders have recommended that the government reduce the minimum capacity required to become eligible for PLI ACC and make it flexible at 1 GWh (gigawatt hours) or 3 GWh from the minimum of 5 GWh in the earlier round, to allow more companies to participate and foster innovation. «We have held consultations with stakeholders.

Union home minister Amit Shah will chair a meeting of the Western Zonal Council on Monday in Gandhinagar where a host of issues such as speedy investigation in cases of sexual offence and rape and matters related to infrastructure and environment will come up for discussion, officials said. The Western Zonal Council comprises Gujarat, Maharashtra, Goa and the Union Territories of Daman and Diu and Dadra and Nagar Haveli. The meeting will be attended by chief ministers, ministers, chief secretaries, principal secretaries and senior officers of member states and central government, officials said. The meeting is likely to discuss issues like speedy investigation in cases of sexual offence and rape against women and children, implementation of Fast Track Special Courts for expeditious disposal of rape and The Protection of Children from Sexual Offences (Pocso) Act cases. Facilitation of banks and India Post Payment Bank branches within 5 km in each village, addressing malnutrition among children through Poshan Abhiyan, reducing drop-out rate of school children, participation of government hospitals in Ayushman Bharat Pradhan Mantri Jan Arogya Yojana and issues of general interest at national level will also be discussed at the meeting. The meeting will discuss issues of common interests in areas of road connectivity, power, industries and other matters, they said.

digital economy, trade and food security. UN secretary general Antonio Guterres, who was also present, said the UN, formed in 1945, must be reformed to reflect modern power realities. The big one was the expansion of Brics to include six new members, who will join the organization next year.

Slamming Rajasthan chief minister Ashok Gehlot who hailed former prime ministers Jawaharlal Nehru and Indira Gandhi for ISRO's successful mission to the lunar south pole, state BJP chief C P Joshi alleged on Sunday that during the Congress rule conspiracies were hatched against scientists and they were jailed. "Under Congress rule, scientists got no facilities and were sent to jail by hatching conspiracies," Joshi alleged. Joshi claimed that it was under the Narendra Modi government that proper facilities and resources were provided to the scientific community for the first time.

NEW DELHI : The transformation under way in India is a key source of optimism for Mark Carney, the chair of Brookfield Asset Management, and the head of transition investing and UN special envoy for climate action and finance. In an interview, Carney, who was the governor of Central Bank of Canada (2008-13) and Bank of England (2013-2020) before joining the asset manager, said it was impressive that some of India’s largest conglomerates are pushing ahead in the clean-energy space. Last year, Brookfield closed a $15 billion global fund to invest in clean energy; of this, the asset manager invested $1.5 billion in India.

₹1.97 trillion production-linked incentive (PLI) scheme. On the face of it, the PLI scheme has nothing to do with tweaking tariffs. It is focused on incentivizing companies to increase domestic production across 14 sectors, rather than manufacture products outside India.

G20 summit that the Aam Aadmi Party (AAP) Delhi government and the Municipal Corporation of Delhi (MCD) carried out was thanks to funds from the Centre. Refuting the claims made by the BJP, the AAP dispensation in the national capital said it is shocked to see that the "BJP had to pass the developmental work done by the city government as its own". Delhi BJP president Virendra Sachdeva claimed that even the wall painting concept was introduced by the Centre first in the Pragati Maidan tunnel and later in the NDMC area.

Ajit Pawar visited Pimpri-Chinchwad city for time the since assuming office. His maiden visit after becoming Deputy CM saw a man hanging from a crane to garland the minister.

Indian students are now studying in Australia. “There are no direct flights from Mumbai.

GST regime, having recently celebrated its sixth anniversary, stands as a remarkable achievement in the Indian tax landscape. Over this time, it has made substantial contributions to GoI’s financial coffers. To provide a snapshot, the gross collection for FY2023 reached an impressive Rs 18.10 lakh crore, with an average monthly collection of Rs 1.51 lakh crore for the year.

NEW DELHI : India has made G20 a more inclusive forum during its presidency by inviting the African Union to join the group, thus providing a platform for the voice of Africans to reach the world, prime minister Narendra Modi said on Sunday. Speaking during the 104th episode of Maan Ki Baat, his monthly radio talk, Modi termed the Indian presidency of the G20 as “people’s presidency". He said that the country is fully prepared to host the G20 leaders’ summit in September that will see 40 heads of states and government as well as several global organizations for the “biggest participation ever in the history of the G-20 Summit".

NEW DELHI : A new model of colonialism may arise if countries with large reserves of critical and rare earth minerals do not consider these resources as a global responsibility, Prime minister Narendra Modi on Sunday said, sounding what he called a “serious warning". Addressing the B20 Summit of business representatives from G20 countries, Modi said while critical and rare earth minerals are the need of the entire world, they are unevenly distributed globally—some countries have large quantities of these minerals while others do not have them at all.

NEW DELHI : India is in talks with a number of African countries, including Namibia, Mozambique and Kenya, to help develop its Unified Payment Interface (UPI) and to conclude commercial partnerships between payments platforms, according to persons aware of the matter. This push comes after Ritesh Shukla, International CEO of the National Payments Corporation of India (NPCI), which developed UPI, stated that the number of countries where UPI is live will double in the next 12-18 months. “There are many countries in the world which have similar problems we had before the advent of UPI.

NEW DELHI : India may no longer stick to the template for bilateral investment treaties (BIT) that it adopted after terminating most of these treaties in 2016, a senior official aware of the development said. The change in the approach comes at a time when India is negotiating investment treaties alongside free trade agreements with some top trading partners, including the UK and EU, that are looking for stronger investment protection while objecting to the 2016 model BIT.

NEW DELHI : The government set a minimum export price (MEP) of $1,200 a tonne on basmati rice shipments in a move aimed at reining in domestic prices ahead of elections in key states. The move came a day after it imposed a 20% duty on non-basmati parboiled rice exports, effective immediately. The measures are aimed at ensuring rice prices remain under control after paddy production came under a cloud because of excess rainfall in Punjab and Haryana, and deficient rains in the eastern region.

Sam Fender’s performance was much appreciated at the Leeds Festival 2023 on Saturday, August 26. The singer’s act drew fans from the North East at the venue. «This is the biggest milestone for us,» said the young singer, as he went on to perform from his two number-one albums. «It's good to be back up North,» said the 29-year-old, adding, «This is party night tonight. I see there's a few Geordies in tonight, always nice to see.» Dressed in a white T-shirt and playing his black-and-white striped electric guitar, Sam Fender told a tale to his fans, with some advice if they get lost. «I came to Leeds when I was 18, me and [bandmate] Dean and I got black-out drunk watching Kasabian. And I got lost and I couldn't find my mates and started doing the (sings) black and white army chant, and that's how I found my mates! So, if you get lost tonight, do that.» Sam Fender and the troupe held the audience’s attention throughout the performance, only drifting a bit.

OTTAWA (Reuters) — Canada is concerned about the overall integrity of the system that educates hundreds of thousands of international students and not just the added pressure they put on housing, Immigration Minister Marc Miller said in an interview with the Canadian Broadcasting Corporation.

The Congress party has claimed that 4 to 5 political parties of the BJP-led NDA bloc are in touch with the INDIA alliance and some of them will join the opposition bloc in the coming days. “At least 4 to 5 political parties which were among the 38 parties that attended the NDA meeting addressed by PM Modi are in touch with the INDIA alliance. Some of them are expected to join the opposition bloc very soon while some before (2024) elections," Congress spokesperson Alok Sharma said on Sunday at a press conference in Nagpur.

Alliance (NDA) to amoeba, and said the BJP-led front does not have any definite shape and size like an amoeba, reported PTI. Criticising out at Prime Minister Narendra Modi for calling the opposition INDIA alliance as "ghamandia" and "Indian Mujahideen", Thackeray said the NDA should be called "ghama-NDA" ("ghamandiye" meaning arrogant). While, addressing the rally, he asked Telangana chief minister and Bharat Rashtra Samithi (BRS) chief K Chandrasekhar Rao to clarify his stand.