New Delhi, July 23 (IANS) Improving rail accessibility for micro, small and medium enterprises (MSMEs) could unlock significant rail freight growth by lowering logistics costs and adding a customer segment for rail services, a report said on Thursday.The report from FICCI and KPMG in India said many MSMEs remain dependent on road transport despite rail’s structural cost advantage because of fragmented consignments, limited cargo aggregation, inadequate terminal access, first‑ and last‑mile…
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New Delhi, July 16 (IANS) The India-EU Trade and Technology Council (TTC) complements ongoing efforts towards an ambitious, balanced and mutually beneficial India-EU Free Trade Agreement (FTA), said Commerce and Industry Minister Piyush Goyal.Co-chairing the Ministerial Meeting on the India-EU TTC in Brussels, the minister said “we reviewed progress across resilient supply chains, critical and emerging technologies, clean energy and innovation, deep-tech startups, green hydrogen, and EVs and b…
New Delhi, July 15 (IANS) The Federation of Indian Chambers of Commerce and Industry (FICCI) on Wednesday welcomed the operationalisation of the India-UK Free Trade Agreement (FTA), saying the landmark pact will open new opportunities for Indian industry, enhance competitiveness and deepen the country’s integration with global value chains.Congratulating Prime Minister Narendra Modi on the agreement coming into force, FICCI Secretary General Anant Swarup said the India-UK Comprehensive Economic …
New Delhi, July 15 (IANS) IT industry’s apex body Nasscom on Wednesday welcomed the coming into force of the India–UK Free Trade Agreement (FTA), saying it will unlock opportunities across digital trade, investment, innovation, and talent mobility.The industry body also welcomed the conclusion of a ‘Double Contribution Convention’ (DCC) that will let Indian professionals on short‑term UK assignments continue social security contributions in India, instead of the UK, for up to five year…
Washington, July 9 (IANS) The Federation of Indian Chambers of Commerce and Industry (FICCI) has urged the United States to abandon its proposed across-the-board tariff on Indian imports, arguing that a targeted, evidence-based approach would be far more effective in addressing forced labour concerns than blanket duties covering all sectors. Presenting Indian industry’s position before a US Trade Representative (USTR) Section 301 hearing on Wednesday (local time), FICCI representative Poornima S…
Washington, July 9 (IANS) India has mounted a broad defence of its legal, regulatory and corporate safeguards against forced labour, telling the US Trade Representative (USTR) that the country already has the institutions, laws and industry compliance systems needed to achieve the very objectives Washington is seeking through its proposed Section 301 tariff action. Appearing before the USTR’s public hearing on Wednesday (local time), representatives of the Ministry of Commerce and Industry, the …
Washington, July 8 (IANS) India on Wednesday strongly opposed the proposed 12.5 per cent additional US tariff on its exports during a US Trade Representative (USTR) Section 301 hearing, arguing that the investigation lacks a legal and factual basis and warning that the proposed action would disrupt supply chains without advancing efforts to eliminate forced labour.Appearing before the USTR hearing panel, Dr Brij Mohan of the Ministry of Commerce and Industry said India objected to the proposed c…
Mumbai, July 7 (IANS) The National Financial Reporting Authority (NFRA) has initiated its investigation into the alleged financial misstatement case involving Rajesh Exports, with Chairman Nitin Gupta confirming that the audit regulator has begun its process following a referral from the Securities and Exchange Board of India (SEBI).Speaking on the sidelines of a conference organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in Mumbai on Tuesday, Gupta said the regula…
New Delhi, July 7 (IANS) Secretary, Technology Development Board (TDB) Rajesh Kumar Pathak on Tuesday said central government plans to boost research and development spending to about 2 per cent of GDP and invited private sector to tap Rs 1 lakh crore Research, Development & Innovation Fund (RDIF) that can underwrite up to half of project costs.“The objective of the RDIF is to encourage the private sector to scale-up R&D spending, currently at around 0.65 per cent of GDP. The role of t…
New Delhi, July 3 (IANS) Seven Indian startups — selected under the Department for Promotion of Industry and Internal Trade (DPIIT)-backed FICCI Mercedes-Benz Bharat Innovation & Business Ideas Challenge Programme — will receive structured post-funding mentoring and handholding support to accelerate their growth and improve investment readiness, the Ministry of Commerce & Industry said on Friday.Each of the seven startups has been awarded funding of Rs 30 lakh after emerging successful…