Japan-India Coordination Forum to steam ahead with infrastructural projects in the North-East
The Dollar Business Bureau The first meeting of the Japan-India Coordination Forum (JICF) for Development of North-Eastern Region was held at Delhi. This is a part of the Indo-Japan strategy to contain China’s marauding moves in the region. The JICF is being set up to focus on connectivity, road development, especially inter-State roads and major district roads, disaster management, food processing, organic farming, and tourism. The Secretary, Ministry of Development of North-Eastern Region (DoNER), Naveen Verma led the Indian side while the Japanese delegation was led by the Japanese Ambassador to India, Kenji Hiramatsu. Senior Officers of the Ministry of Home Affairs, External Affairs, Department of Economic Affairs, and line Ministries of Government of India including Road Transport & Highways, Agriculture, Power ...
Goods and Services Tax Place of Supply
By Ranjeet Mahtani and Sweta Rajan After the approval of the Lok Sabha on March 29, 2017, four supporting GST bills, viz. the Integrated GST (IGST) Bill, Central GST Bill, Union Territory GST Bill and the Compensation Bill were sent to the Rajya Sabha for their comments. The Rajya Sabha cleared the bills on April 6, 2017 without any amendments. With this, the July 1, 2017 target for the introduction of GST seems realistic. Trade and industry are therefore in the phase of deliberating the law and examining potential issues. Under the GST regime, every transaction will have to be subjected to a 4-point analysis: when is the GST applicable? on whom is it applicable? how much is applicable (rate of tax), and what are the ...
IndiaSoft 2017: connecting Indian IT with global buyers
Sneha Gilada Hyderabad witnessed the inaugural of the seventeenth edition of Indiasoft on February 13, 2017. IndiaSoft is an initiative of the Electronics and Computer Software Export Promotion Council (ESC), meant to connect the Indian IT industry to global buyers and potential clients. The two-day event has an overwhelming global participation of over 400 delegates from 75 countries, making it an irresistible scouting ground for the thriving Indian mid-scale IT companies. The exhibit showcased innovative solutions in the field of big data, outsourcing, cloud computing, SAAS, e-governance, mobile app and website development. As many as 50 IT startups from all over the country exhibited their core competencies at the event, which was supported and funded by the Government of India. At the inaugural ceremony, Chief Guest Y.S. Chowdary, Union Minister of Science & Technology and ...
Online jewellery market is around $10 bn, which will shoot up to $18 bn in 3 yrs: Adish Shah
The Dollar Business Bureau The Gems and Jewellery sector plays a significant role in the Indian economy, contributing around 6-7 percent of the country’s GDP. One of the fastest growing sectors, it is extremely export oriented and labour intensive. Based on its potential for growth and value addition, the Government of India has declared the Gems and Jewellery sector as a focus area for export promotion. For the first time ever in the country, a B2C and B2B portal for Gems & Jewellery segment. www.jewelemart.com, has been launched for the benefit of consumers, craftsmen and traders. Speaking to the media, Mr Adish Shah, Co-Founder and CEO of Jewelemart, said “Currently world online jewellery market is around $10 billion, which will shoot up to $18 billion in next three ...
Govt must act tough to check online retailers, says traders body
The Dollar Business Bureau A traders’ body has asked the government to restrict e-tellers such as Flipkart, Amazon and Snapdeal from carrying out festive sales, saying that such activities are against the FDI policy. The Confederation of All India Traders (CAIT) wrote a letter to Finance Minister Arun Jaitley and Commerce Minister Nirmala Sitharaman and urged them to take appropriate action against these e-commerce companies for circumventing the law. “These companies claim to be a marketplace and therefore can provide only a technology platform for the sellers who are registered with them. Since ownership of inventory does not hold by the said companies they can’t offer ‘sale’ or ‘discounts’ in totality on their online portals,” CAIT said. CAIT President B C ...
Legal framework, consumer protection must for FDI in e-commerce, say states
The Dollar Business Bureau Expressing concern over legal and tax related issues related to e-commerce, state governments said that small retailers and consumers must be protected before allowing 100% foreign direct investment (FDI) in the sector. Union Minister of State for Commerce and Industry Nirmala Sitharaman met trade ministers of all the states on Wednesday to discuss the matter. The Union Minister said that the government will decide on allowing 100% FDI in e-commerce after proper consultation with all stake holders. The minister asked state governments to give their views on the matter in two weeks. At Wednesday's meeting, Chhattisgarh Commerce and Industry Minister Amar Agrawal said that the country must have a comprehensive law to deal with issues related to ...
Chinese e-commerce giant to promote Indian SME products
Sai Nikesh | The Dollar Business The Chinese e-commerce giant Alibaba on March 30, 2015, announced its future business plans in India. As part of his visit to India, Alibaba's Chairman Jack Ma met the Prime Minister of India, Narendra Modi, and expressed the Company’s willingness to empower small businesses in India and also discussed the modalities involved. In his meeting with the Prime Minister, Ma discussed way and means of implementing the Business-Business (B2B) model in promoting organic farm goods, handicrafts and other products from a rural to the global level. Pointing out to the Business-Company (B2C) model as an American model, the Alibaba founder was learnt to have stated that the ‘Business-Business (B2B) model is best suitable ...
