Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

US Secretary of State Mike Pompeo and Defence Secretary Mark T Esper will arrive here on October 26 for the third edition of the two-plus-two <keyword id="3097277" type="PERSON" weightage="20" keywordseo="Ministerial-Dialogue">ministerial dialogue</keyword> which is taking place just a week ahead of the American presidential election and in the midst of India's festering border row with China. The two-plus-two dialogue will be held on Tuesday. The Indian side at the talks will be represented by External Affairs Minister S Jaishankar and Defence Minister Rajnath Singh. A host of crucial bilateral, regional and global issues including China's efforts to expand influence in the Indo-Pacific region as well as its aggressive behaviour in eastern Ladakh is likely to figure in the talks. In the last few months, the US has been ramping up attack on China over a range of contentious issues including the border row with India, its military assertiveness in <keyword id="9256875" type="LOCATION" weightage="20" keywordseo="the-south-china-sea">the South China Sea</keyword> and the way Beijing handled the anti-government protests in Hong Kong. Last week, <keyword id="193522" type="COMPANY" weightage="20" keywordseo="External-Affairs-Ministry">External Affairs Ministry</keyword> Spokesperson <keyword id="916281" type="PERSON" weightage="20" keywordseo="Anurag-Srivastava">Anurag Srivastava</keyword> said the talks will entail a comprehensive discussion on cross-cutting bilateral issues as well as deliberations on regional and global developments. Pompeo and Esper will have bilateral meetings with their Indian counterparts as well. They are also scheduled to make a joint call on Prime Minister Narendra Modi. Officials said US Secretary of Defence Esper will be given a tri-services guard of honour at the lawns of South Block in <keyword id="10169121" type="LOCATION" weightage="20" keywordseo="the-raisina-hills">the Raisina Hills</keyword> on Monday afternoon. It is expected that the two sides may finalise the long-pending BECA (Basic Exchange and Cooperation Agreement) agreement to further boost bilateral defence ties. The BECA will provide for sharing of high-end military technology, logistics and geospatial maps between the two countries. The Indo-US defence ties have been on an upswing in the last few years. In June 2016, the US had designated India a "Major Defence Partner" intending to elevate defence trade and technology sharing with India to a level commensurate with that of its closest allies and partners. The two countries inked the Logistics Exchange Memorandum of Agreement (LEMOA) in 2016 that allows their militaries use each other's bases for repair and replenishment of supplies as well as provides for deeper cooperation. The two countries signed another pact called COMCASA (Communications Compatibility and Security Agreement) in 2018 that provides for interoperability between the two militaries and provides for sale of high end technology from the US to India. The first edition of the two-plus-two dialogue was held in Delhi in September 2018 after the mechanism was approved by Prime Minister Narendra Modi and President <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword>. The second edition of the dialogue took place in Washington in December last year. The new framework of the ministerial dialogue was initiated in order to provide a forward-looking vision for the strategic partnership between the two countries. MPB RT

US Secretary of State Mike Pompeo and Defence Secretary Mark Esper to arrive in India today

New Delhi, <keyword id="19895159" type="General" weightage="20" keywordseo="russia" source="keywords">Russia</keyword> is a power with an enormous tradition of statecraft and it is turning more towards Asia or non-West parts of the world, External Affairs Minister <keyword id="19922782" type="General" weightage="20" keywordseo="s-jaishankar" source="keywords">S Jaishankar</keyword> said on Friday, delving into current geopolitical developments and their fall-outs. In an interactive session at the Raisina Dialogue, <keyword id="19920247" type="General" weightage="20" keywordseo="jaishankar" source="keywords">Jaishankar</keyword>, replying to a question on Moscow's growing proximity with Beijing, said it makes sense to give Russia multiple options and that railroading it into a single option and criticising it for that would be like a self-fulfilling prophecy. "I think it makes sense to give Russia multiple options. If we railroad Russia into a single option and say that's really bad because that's the outcome, then you are making it a self-fulfilling prophecy," he said. "Today it is important for other countries, especially in Asia to engage Russia," Jaishankar said. "Russia is a power with an enormous tradition of statecraft. Such powers would never put themselves into a single relationship of an overwhelming nature. It would go against their grain," he said. The external affairs minister was asked to comment on intensification of ties between Russia and China and whether <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> was uncomfortable with it. "What's happened today with Russia essentially is that a lot of doors have been shut to Russia and the West. We know the reasons why. Russia is turning more to Asia or to parts of the world which are not West," he said. The external affairs minister suggested that policies of the West are bringing Russia and China closer. "It's kind of funny -- on the one hand you have people who set policies (and) bring the two together and then you say beware of them coming together," he said. The question was asked by <keyword id="20700294" type="General" weightage="20" keywordseo="michael-fullilove" source="keywords">Michael Fullilove</keyword>, Executive Director of Lowy Institute, Australia. Jaishankar's comments came days after he said India has had a "stable" and "very friendly" relationship with Russia, and that Moscow never hurt New Delhi's interests. The ties between India and Russia remained strong notwithstanding Moscow's invasion of Ukraine. India's import of Russian crude oil has gone up significantly despite increasing disquiet over it in many Western countries. India has not yet condemned the Russian invasion of Ukraine and it has been maintaining that the crisis must be resolved through diplomacy and dialogue. In his remarks, Jaishankar also highlighted India's G20 presidency and how it ensured induction of the African Union as a permanent member of the grouping. He noted that if the G20 could be expanded, the permanent membership of the UN Security Council can also be increased. "When the sort of smoke clears and people look back on this G20, it will surely be recognised for the fact that the African Union's membership was agreed upon," he said. The external affairs minister also highlighted India's foreign policy priorities including combating terrorism and attempting to ensure inclusive global welfare. It could be millets, it could be yoga, it could be solar energy, it could be combating terrorism, it could be black money. You today see an India, which is really pushing and trying to get itself and its ideas on the global stage, he said.

Russia is a power with enormous tradition of statecraft: Jaishankar

New Delhi [<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>], February 21 (ANI): President of <keyword id="19915275" type="General" weightage="20" keywordseo="boeing" source="keywords">Boeing</keyword> India and South Asia, <keyword id="20265370" type="General" weightage="20" keywordseo="salil-gupte" source="keywords">Salil Gupte</keyword>, hailed the 'Make in India' initiative and said that New Delhi is moving from being one of the largest importers to developing its own platforms. He said that Boeing is one of the Original Equipment Manufacturers (OEM) that has coordinated most with India in this direction. <keyword id="20666703" type="General" weightage="20" keywordseo="gupte" source="keywords">Gupte</keyword> said that a lot of discussion at the Indus X event -- which is being held on the sidelines of the Raisina Dialogue 2024 -- is around co-development and co-production. Speaking to ANI, Salil Gupte said, "Several products for defence, that are in the pipeline for co-development...Boeing has decided to specifically participate in those types of programmes, because in defence, under the 'self-reliance' theme, India is moving from being one of the largest importers of products to developing its own platforms here." "Some of it will be done totally with Indian companies and some of it will do in partnership with Original Equipment Manufacturers (OEM). Boeing has been one of the OEMs that has coordinated most with India," he added. Gupte said that Boeing is exporting worth of Rs 10000 crores per annum as part of 'Make in India' programme. "We have Rs 10000 crores per annum of sourcing that we export from India already as part of our 'Make in India' programme. And now we think that our new engineering centre in Bangalore, it is an opportunity to combine the strong engineering capability with manufacturing capability to give a fillip to the Make in India programme," he said. The Boeing India President further said that he is expecting over 2500 aircraft to come to India over the course of the next 20 years. "In civil aviation, we see over 2500 aircraft that will be coming in India over the next 20 years, which makes it more than 10 aircraft per month. Not just aircraft, but airlines are also growing very rapidly. Akasa Air, one of the fastest-growing airlines in history, is now going international and Air India is placing large orders in the last year as they spread their wings into long-haul flights," Gupte further said. Gupte also reiterated US President <keyword id="19919748" type="General" weightage="20" keywordseo="joe-biden" source="keywords">Joe Biden</keyword>'s remark that the India-US relationship is the "most consequential of the 21st century." (ANI)

India moving from one of largest importers to developing its own platforms: Boeing India Prez Salil Gupte

New Delhi, <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> does not 'rush' into any Free Trade Agreement (<keyword id="20000557" type="General" weightage="20" keywordseo="fta" source="keywords">FTA</keyword>) if the pact is not equitable, balanced, and fair for the country, Commerce and Industry Minister <keyword id="19895367" type="General" weightage="20" keywordseo="piyush-goyal" source="keywords">Piyush Goyal</keyword> on Friday said. He said that the ground realities in India have changed now and the offers made by partner countries in these agreements are "not at all" comparable to what India is offering to the world. At present, negotiations for FTAs with the UK, Oman, and the four-nation European Free Trade Association (EFTA) are nearing conclusion. EFTA members are Iceland, Liechtenstein, Norway, and Switzerland. The minister also said that India should never rush for trade negotiations as they are going to impact the country for years and years to come. "We enter into negotiations with our eyes wide open, we do extensive stakeholder negotiations...we do a lot of inter-ministerial consultations. We crystal gaze into the future and see that India offers the best business opportunities. "Sometimes trade negotiations take time because the other sides take time to understand what really is happening in India, how the India story is panning out, how new India is emerging. And some people also live in a colonial mindset of the past, so it takes us some more time to get them to understand that ground realities have changed. What is on the offer on their side is not at all comparable to what we are offering to the world and therefore unless it is a very equitable, balanced, and fair trade agreement, India does not rush into trade agreements anymore," he said. <keyword id="19895372" type="General" weightage="20" keywordseo="goyal" source="keywords">Goyal</keyword> said this at the Raisina Dialogue 2024 here. He was replying to a question about why trade negotiations with the UK and the EU (<keyword id="19895384" type="General" weightage="20" keywordseo="european-union" source="keywords">European Union</keyword>) are proving more complicated. He added that some free trade agreements signed by the previous government have issues as adequate due diligence was not followed. In some cases, a little bit of rush to enter into an FTA was also there earlier, he said. India and the UK launched the talks for an FTA in January 2022 with a view to boost economic ties between the two nations. There are 26 chapters in the agreement, which include goods, services, investments, and intellectual property rights. The bilateral trade between India and the UK increased to USD 20.36 billion in 2022-23 from USD 17.5 billion in 2021-22. The seventh round of India-European Union talks is underway here. In June 2022, India and the EU restarted the negotiations for the long-pending trade and investment agreement after a gap of over eight years.

India does not rush into trade agreements if it is not fair, balanced, equitable: Goyal

<ul class="summary-list"><li>A crowd laughed at Russia's top diplomat when he said the Ukraine war "was launched against us." </li><li>An audience member at India's G20 summit shouted, "Come on!" at Sergey Lavrov during the event. </li></ul>Sergey Lavrov, Russia's top diplomat and a close ally of Russian President Vladimir Putin, said Thursday at a conference in India that the war in Ukraine "was launched against us," prompting the crowd to erupt into laughter.Lavrov was a speaker at India's G20 Summit in New Delhi, leading a session that was part of a "Raisina Dialogue 2023" series. He was <a href="https://www.youtube.com/watch?v=y5VFSCEZDtQ">in discussion with</a> Sunjoy Joshi, the chair of the Observer Research Foundation in India, and took questions from the audience. One audience member asked Lavrov: "How the war has affected Russia's strategy on energy, and will it mark a privilege toward Asia? And if it does, how is India going to feature in it?" "You know, the war, which we are trying to stop, which was launched against us, using the..." Lavrov began, before being cut off by loud laughter from the crowd. "...The Ukrainian people, uh, of course, influenced..." Lavrov tried again, before being cut off by more laughter and a shout of, "Come on!" from the crowd. He went on to say that the war has influenced the energy policy in Russia and that they "would not rely on any partners" going forward. Contrary to Lavrov's claim, Russia launched an unprovoked invasion of Ukraine in February 2022 and sparked the largest military conflict in Europe since World War II. The Kremlin has offered an array of justifications for the invasion, including the assertion that Ukraine is led by neo-Nazis. Ukrainian President Volodymyr Zelenskyy is Jewish and lost family during the Holocaust. Russia has also blamed NATO, suggesting that <a href="https://www.businessinsider.com/biden-helped-nato-expand-in-the-90s-which-putin-now-threatening-war-over-2022-2">the alliance's expansion</a> provoked the conflict. But Ukraine is not a NATO member and was not on track to join the alliance when Russia invaded. Experts widely agree that Russian President Vladimir Putin ordered the invasion of Ukraine out of a desire to <a href="https://www.businessinsider.com/fiona-hill-says-putin-wants-borders-of-old-russian-empire-2022-2">restore Russia as an imperial power</a>. Putin, who once described the collapse of the Soviet Union as the "greatest geopolitical catastrophe" of the 20th century, has <a href="https://www.theguardian.com/world/2022/jun/10/putin-compares-himself-to-peter-the-great-in-quest-to-take-back-russian-lands" target="_blank" rel="noopener">likened himself to Peter the Great</a> while defending Russia's assault on Ukraine.The Russian leader has falsely claimed that <a href="https://www.businessinsider.com/putin-denies-reviving-russian-empire-says-ukraine-not-real-country-2022-2">Ukraine is not a real country,</a> offering a distorted view of history to vindicate Russia's brutal campaign to subjugate its next-door neighbor. The Russian Empire controlled much of Ukraine before later making it part of the Soviet Union. But Ukrainians in 1991 overwhelmingly voted for independence from the USSR, making it clear that they did not want to be subservient to Moscow. Russia has been condemned around the world for invading Ukraine, and faces widespread allegations of war crimes.

Crowd erupts in laughter at Russia's top diplomat after he claimed the Ukraine war 'was launched against us'

<ul><li>Policy analysts feel that the reform agenda has taken a back seat to political issues during Prime Minister Narendra Modi’s second term in office.</li><li>However, they believe small changes — like caps on foreign direct investment (FDI) and fixing the goods and services tax (GST) — can be made without "generating a lot of heat and tension".</li><li>The Indian economy has gone from being one the fastest growing in the world to hitting stagflation in a matter of months.</li></ul>Narendra Modi’s second term as India’s Prime Minister has been fraught with <a href="https://www.businessinsider.in/tech/news/caa-internet-shutdowns-make-india-example-for-china/articleshow/72931761.cms">protests</a> and <a href="https://www.businessinsider.in/politics/india/news/shiv-sena-chief-uddhav-thackeray-sworn-in-maharashtra-chief-minister/articleshow/72280034.cms">political tension</a>. With the <keyword id="6360189" type="ORGANIZATION" weightage="20" keywordseo="union-budget">Union Budget</keyword> 2020 around the corner, many are wondering what the central government’s vision is for reforms in the coming year. Policy analysts at the Raisina Dialogue 2020 feel the government may be a little distracted. However, despite political issues, there is room for reform without upsetting too many feathers. "I think what has happened in the second term, as far as perception goes, is we sense that the administration has gotten distracted with the political issues than the reforms issues and then economic issues," said Bharath Gopalaswamy, Senior Fellow at the Observer Research Foundation (ORF) India on the sidelines of <a href="https://www.facebook.com/ORFOnline/videos/603178493797939/">Raisina 2020</a>. India went from being the world’s fastest-growing economy to hitting stagflation <a href="https://www.businessinsider.in/policy/economy/news/indian-economy-went-from-worlds-fastest-growing-to-stagflation-in-just-a-few-months/articleshow/72500016.cms">in a matter of months.</a> Retail inflation is on the rise, factory output is nowhere close to its targets, and some industries in the sector are on a negative growth trajectory. Analysts predict that the country’s economic growth is <a href="https://www.businessinsider.in/business/news/indias-economic-growth-likely-to-remain-subdued-in-near-future-report/articleshow/72330188.cms">likely to stay subdued</a> in the future as the slowdown deepens. However, <a href="https://www.facebook.com/ORFOnline/videos/603178493797939/">Richard M. Rossow</a>, senior adviser of US-India policy studies at the Center for Strategic and International Studies (CSIS), believes the government still has a few some options — like removing restrictions on FDI, fixing the goods and services tax (GST) and simplifying bankruptcy procedures. Nursing the economy back to health through FDI "I think there’s room to do some reforms that won’t take as much political will. Look at FDI [foreign direct investment] caps — 21 years ago, any FDI cap was a political hot potato. And now, the government’s opening up defense, retail and insurance — and the blowback against doing that has been relatively minor," Rossow said. According to the Department of Promotion and Industry and Internal Trade (<a href="https://economictimes.indiatimes.com/news/economy/policy/india-hopes-to-continue-fdi-growth-story-in-2020/articleshow/73041537.cms?from=mdr">DPIIT</a>), the inflow of foreign investment has not been impacted by the slowdown. However, not all sectors in the Indian economy are open to 100% FDI — a few are still completely restricted. "There are about 20 other sectors that still have FDI restrictions. Without major blowback or opening up most of those, the potential quick injection of new money by foreign investors is relatively easy," explained Rossow. Life insurance companies are already lining up government lobbies to <a href="https://www.businessinsider.in/business/news/life-insurers-bat-for-100-pc-foreign-investment-in-sector-via-automatic-route/articleshow/72874288.cms">increase automatic approval</a> from 49% to 100%. Investment under the automatic route does not require prior approval from the government. On the other hand, the government is looking to <a href="https://www.businessinsider.in/business/news/dpiit-to-soon-issue-clarification-on-26-pc-fdi-in-digital-media-sector/articleshow/72963869.cms">cap investments in digital media companies</a> to 26% leaving foreign websites with 100% investment, confused. Dealing with debt and fixing tax regimes Aside from FDI, Rossow believes that the smaller steps like fixing issues with the goods and services tax (GST) and bankruptcy code can also be implemented without "generating a lot of heat and tension". Simplification of the GST is also a reform suggested by Indian economists for the upcoming <keyword id="6358021" type="ORGANIZATION" weightage="20" keywordseo="budget">budget</keyword>. Indian mobile makers are also looking for <a href="https://www.businessinsider.in/tech/news/budget-2020-indias-mobile-phones-makers-fear-for-jobs-in-the-face-of-fewer-incentives-and-global-competition/articleshow/73261138.cms">a reduction of GST on parts and accessories</a>. When it comes to the banking sector, sources told <a href="https://www.businessinsider.in/business/news/govt-unlikely-to-announce-capital-infusion-for-psu-banks-in-budget/articleshow/73105942.cms">PTI</a> that the government has no plans of capital infusion and is, instead, looking at encouraging banks to expedite the recovery of bad loans. However, that’s easier said than done. "Currently there are a lot of defaulters and banks that are underwater because of this ‘bad lending’, so to speak. But you also run the risk of excessive regulation and excessive scrutiny. You want to protect the regulator yet at the same time, somebody who has good credit should be able to get loans easily rather than pay the price for someone who will willfully default," explains Gopalaswamy. The haziness around the National Company Law Appellate Tribunal (NCLAT) and its dealings with the Indian Bankruptcy Code; is also posing hurdles. "We [private sector] are dealing with the Indian Bankruptcy Code and we’re dealing with the NCLAT process. And, the process is so cumbersome. At some levels it’s opaque and it’s still evolving. So the uncertainty as a foreign company trying to buy an Indian company or do a joint venture is still not the easiest process out here," he added. See also: <a href="https://www.businessinsider.in/tech/news/budget-2020-indias-mobile-phones-makers-fear-for-jobs-in-the-face-of-fewer-incentives-and-global-competition/articleshow/73261138.cms">Budget 2020: India’s mobile phones makers fear for jobs in the face of fewer incentives and global competition</a> <a href="https://www.businessinsider.in/defense/news/indias-budget-allocation-for-defence-has-remained-fairly-static-for-the-past-five-years/articleshow/73153930.cms">Budget 2020: Five charts that explain what you can expect from India’s defence expenditure this year</a> <a href="https://www.businessinsider.in/defense/news/indian-army-versus-military-spending-on-other-countries/articleshow/73182937.cms">Here's how the budget allocation for Armed Forces in India stacks up on the global scale</a>

Budget 2020 aside, these are some of the reforms that India can execute without causing political 'heat and tension'

<ul><li>Indian external affairs minister <keyword id="3006063" type="PERSON" weightage="20" keywordseo="Subrahmanyan-Jaishankar">Subrahmanyan Jaishankar</keyword> explained why the <keyword id="6374106" type="ORGANIZATION" weightage="20" keywordseo="ministry-of-external-affairs">Ministry of External Affairs</keyword> (MEA) needs its own new, emerging and strategic technologies (NEST) division. </li><li>As a stakeholder in national security, MEA must monitor cyber threats as well. </li><li>While the nature of technology may not be strategic, it can become so in the hands of a strategic player. </li></ul>Technology is no longer just about economics — it dictates a country's cyber might and leads to fears of governments spying on each other. However, the strategic importance of technology depends on a number of different factors, according to External Affairs Minister Subrahmanyan Jaishankar. Speaking at the Raisina Dialogue 2020, Jaishankar explained why the Ministry of External Affairs (MEA) needs a separate division to monitor emerging technology. “It is no longer realistic to deal with technology as economics, which used to be an old fashioned way around 20-30 years ago. Today technology is very strategic,” he said. The question of national security Cyberthreats are on the rise. Threat intelligence company Group-IB found that cyberspace was increasingly weaponised in 2019. Their report found that cyber weapons were used to carry out numerous military operations last year. In addition, the number of state-sponsored attackers is on the rise. Jaishankar believes that since the MEA is a stakeholder in national security, it’s only logical that it should oversee technology that could pose a potential threat. “There are technologies that are strategic in nature and it’s important for a ministry that analyses foreign affairs, which contributes to national security, to have a set of people who are competent, trained and focused to analyse those strategically relevant technologies,” explained Jaishankar. His concerns seem valid in light of Lazarus — <a href="https://www.businessinsider.in/tech/news/heres-why-north-korean-hackers-attacked-indias-nuclear-power-plant/articleshow/72035492.cms">hackers based out of North Korea</a> — targeting Indian government institutions like the Indian Space Research Organisation (ISRO) and the Kudankulam Nuclear Power Plant (<a href="https://www.businessinsider.in/tech/news/indian-nuclear-plant-hack-is-only-one-small-part-of-a-much-bigger-operation-according-to-a-cybersecurity-expert/articleshow/72033253.cms">KNPP</a>) in November last year. However, Group IB finds that two of seven new cyber-espionage groups in 2019 — BITTER and Sidewinder — were state-sponsored hackers based out of India. The strategic importance of technology varies Most people believe that technology which circumvents consent — like Pegasus spyware infiltrating WhatsApp accounts — are the biggest threats to national security due to their predatory nature. While that may be the primary determinant, Jaishankar feels technology can also become strategic on the basis of who’s using it. “There are technologies, which in the hands of strategic players, becomes strategic technology. Some of it is the nature of technology, some of it is the user of technology, deployment of technology and the intent of technology,” he said. So far, MEA’s new, emerging and strategic technologies (NEST) division said that it will monitor the implementation of 5G and artificial intelligence (AI). Its mandate, however, extends to developing India’s external technology policy in line with national security goals. See also: <a href="https://www.businessinsider.in/tech/news/cloud-5g-and-wetware-attacks-the-5-biggest-cybersecurity-threats-of-2020/articleshow/73054612.cms">Cloud, 5G and 'wetware' attacks — the 5 biggest cybersecurity threats of 2020</a> <a href="https://www.businessinsider.in/policy/news/rbis-new-cybersecurity-guidelines-are-pushing-indias-1574-urban-cooperative-banks-to-bring-digital-services-up-to-snuff/articleshow/72381380.cms">RBI's new cybersecurity guidelines are pushing India's 1,574 urban cooperative banks to bring digital services up to snuff</a> <a href="https://www.businessinsider.in/tech/news/indian-nuclear-plant-hack-is-only-one-small-part-of-a-much-bigger-operation-according-to-a-cybersecurity-expert/articleshow/72033253.cms">Indian nuclear plant hack is only one small part of a much 'bigger' operation, according to a cybersecurity expert</a>

India’s foreign minister explains why the MEA needs a separate division to monitor emerging technology

New Delhi, Jan 16 () A day after the world's richest person Jeff Bezos announced fresh USD 1 billion investment in India, Union Commerce and Industry Minister Piyush Goyal on Thursday said his firm Amazon was not doing a favour to the country by the investments and questioned how the online retailing major could incur such "big" losses but for its predatory pricing.
 Goyal, who has not yet given Bezos an audience, said e-commerce companies have to follow Indian rules in letter and spirit and not find loopholes to make a back-door entry into multi-brand retail segment.
 India does not allow foreign investment beyond 49 per cent in multi-brand retailing and has not yet approved any application of overseas retailers.
 "They (Amazon) may have put in a billion dollars but if they make a loss of a billion dollars every year, then jolly well will have to finance that billion dollar. So, it is not as if they are doing a favour to India when they invest a billion dollars," he said at the Raisina Dialogue here.
 The USD 1 billion investment by Amazon.com to help bring small and medium businesses online is on the top of USD 5.5 billion funding it had previously announced.
 The minister wondered why an e-commerce market place model, where a firm provides an IT platform for buyers and sellers, incurring huge losses adding that it needs to be looked upon.
 "They are investing money over the last few years also in warehousing and certain other activities, which is welcome and good. But if they are bringing in money largely to finance losses and those losses in an e-commerce market place model," Goyal said.
 He added that in a fair market place model in a turnover of USD 10 billion dollars, if a company is incurring loss of billion dollars, it "certainly raises questions, where the loss came from".
 Goyal said that how can a marketplace make such a big loss unless they are indulging in "predatory pricing or some unfair trade practices".
 "These are real questions which need answers and I am sure the authorities who are looking at it seek those answers and I am sure the e-commerce companies will have their say on that," he said.
 Fair trade regulator CCI (Competition Commission of India) has recently ordered a probe against e-commerce majors Flipkart and Amazon for alleged malpractices, including deep discounting and tie-ups with preferred sellers on their platforms.
 The minister added that India allows foreign investments in e-commerce market place model and in this model buyers and sellers are free to trade, but the market place player cannot own the inventory, or they can not determine prices.
 There are several established market rules for an e-commerce market place business in India and "I think as long as everybody follows these rules, we very much welcome e-commerce into India," he added.
 Further, he said that India has strict rules for FDI in multi-brand retail trading and anybody who tries to use the e-commerce market place model to get into the multi-brand retail space surreptitiously will have to be questioned and investigated.
 "Whether they are doing that or not is a matter of the investigators to decide...whatever (would be their) findings, that should be respected by everybody," Goyal said.
 He reiterated that investors have to follow the laws in letter and spirit and do not try to find loopholes within the defined letter of the law. RR CS ANZ RR MR
MR

Amazon not doing favour by investing USD 1 bn dollar: Goyal

Ahmedabad, Jan 17 () A day after stating that Amazon was not doing any favour to India by investing one billion dollars, Union minister Piyush Goyal on Friday said the country welcomes all kinds of investments that follow the "letter and spirit" of the law.
 Goyal said that some people have misconstrued his remarks by suggesting that he had said something negative against Amazon.
 "I was only saying that investment should come as per the rules and regulation," Goyal said.
 Big ticket investments in the retail space should not hurt small traders who does not have "lakhs and crores" of rupees, Goyal, who was here to inaugurate 'Ahmedabad Design Week', a three-day long event for the students of various design and architecture institutes, said.
 "We welcome all kinds of investment. However, necessary legal process would follow if any investment is made outside the purview of law," the minister pointed out.
 "Our country has some rules for e-commerce industry. We welcome all those investments which comes as per these rules. However, it should not create unfair competition for the small traders of India. They do not get zero per cent loans. They do not have lakhs and crores of rupees. They do business with small capital," said Goyal.
 The minister on Thursday said Amazon was not doing a favour to the country by investing a billion dollars and questioned how the online retailing major could incur such "big" losses but for its predatory pricing.
 "My statement should be seen in a perspective," Goyal said here adding that all countries welcome foreign investment but it should be within the framework of the law.
 "Our laws says that interests of such small traders should not get hurt. Investment should be in the purview of set parameters. That is the view of me and the government," he added.
 If investments are not within the framework of law, then legal action would be initiated, he told reporters.
 The minister in a tweet also expressed similar views.
 "We welcome all kinds of investments that follow the letter &amp; spirit of law. If some investment is outside the legal purview, appropriate action will be taken. Our government wants to ensure that unfair competition is not created for crores of small traders and retailers of the country," Goyal said in a tweet.
 Goyal has stated that e-commerce companies have to follow Indian rules in letter and spirit and not find loopholes to make a back-door entry into multi-brand retail segment.
 India does not allow foreign investment beyond 49 per cent in multi-brand retailing and has not yet approved any application of overseas retailers.
 "They (Amazon) may have put in a billion dollars but if they make a loss of a billion dollars every year, then jolly well will have to finance that billion dollar. So, it is not as if they are doing a favour to India when they invest a billion dollars," Goyal said at the Raisina Dialogue in New Delhi on Thursday.
 The USD 1 billion investment by Amazon.com to help bring small and medium businesses online is on the top of USD 5.5 billion funding it had previously announced.
 The minister wondered why an e-commerce market place model, where a firm provides an IT platform for buyers and sellers, incurring huge losses adding that it needs to be looked upon.
 "They are investing money over the last few years also in warehousing and certain other activities, which is welcome and good. But if they are bringing in money largely to finance losses and those losses in an e-commerce market place model," Goyal said.
 He has added that in a fair market place model in a turnover of USD 10 billion dollars, if a company is incurring loss of billion dollars, it "certainly raises questions, where the loss came from".
 Goyal has said that how can a marketplace make such a big loss unless they are indulging in "predatory pricing or some unfair trade practices".
 Fair trade regulator CCI (Competition Commission of India) has recently ordered a probe against e-commerce majors Flipkart and Amazon for alleged malpractices, including deep discounting and tie-ups with preferred sellers on their platforms. PJT PD RR CS RSY CS MR
MR

You Searched For "raisina dialogue" and got 9 results

US Secretary of State Mike Pompeo and Defence Secretary Mark Esper to arrive in India today

PTI

Russia is a power with enormous tradition of statecraft: Jaishankar

PTI

India moving from one of largest importers to developing its own platforms: Boeing India Prez Salil Gupte

ANI

India does not rush into trade agreements if it is not fair, balanced, equitable: Goyal

PTI

Crowd erupts in laughter at Russia's top diplomat after he claimed the Ukraine war 'was launched against us'

Rebecca Cohen,John Haltiwanger

Budget 2020 aside, these are some of the reforms that India can execute without causing political 'heat and tension'

Prabhjote Gill

India’s foreign minister explains why the MEA needs a separate division to monitor emerging technology

Prabhjote Gill

Amazon not doing favour by investing USD 1 bn dollar: Goyal

PTI

All foreign investments must adhere to law of the land: Goyal on Amazon row

PTI

Popular Keywords

Buying Guides