The idea is to market Brand India at a time when the country’s FDI inflows fell 1.44% .
During the virtual meeting, commerce minister Piyush Goyal asked the G20 members to first focus on immediate and concrete actions that can ease the distress being faced by people all over the world due to the Covid-19. He strongly called for agreement to enable the use of TRIPs flexibilities to ensure access to essential medicines, treatments and vaccines at affordable prices
Brazilian Roberto Azevedo, 62, has been director-general at the Geneva-based trade body since 2013 and was on a second term of office due to conclude at the end of August 2021. The heads of delegations of the WTO's 164 members were called to a special meeting to be held at 4 p.m. (1400 GMT) on Thursday to inform them about "pressing WTO administrative issues".
April wholesale food inflation eases to 3.6%, govt suspends headline number release on inadequate data
“In view of the limited transactions of products in the wholesale market in the month of April, 2020, due to spread of Covid-19 pandemic, it has been decided to release the price movement of selected Sub-groups/Groups of WPI, following the principles of adequacy,” the commerce and industry ministry said in a statement.
Advance authorisation is issued to allow duty free import of inputs, which is physically incorporated in export product. The changed conditions are applicable to silver powder, plates and sheets, and unwrought silver, among others. India imported $2.5 billion of silver in these forms in the April-January period.
Prime Minister Narendra Modi said on Tuesday that the Covid-19 crisis has taught us the importance of local manufacturing, local market and local supply chains.
“We have redrafted the policy and presented it to the group of secretaries. However, the environment is not congenial now and officers are busy in Covid-19-related work,” said an official in the knowledge of the details.
Small units are facing a return of the inspector raj as local authorities have a great deal of discretion when interpreting powers to manage Covid-19. “Local authorities control whether or not to allow businesses to open – it is becoming a huge constraint,” said Anil Bhardwaj, secretary general, FISME.
The commerce ministry said that payment of lease rent for the first quarter is deferred up to July 31 for all the government-owned special economic zone (SEZ) units and the deferment would not invite any interest.
The govt has begun examining ways to shore up foreign investments, including a fast-track mechanism to clear applications of companies especially in the pharmaceutical sector that are looking at India with the US pushing its companies to relocate from China.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon