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Economy

Centre engages e-com giants over fake reviews surge, issues draft quality control order

The Department of Consumer Affairs responded to a surge in e-commerce complaints by holding a stakeholder consultation on fake reviews. With grievances on the rise, stakeholders agreed on the necessity of a quality control order to ensure genuine reviews are published, aiming to safeguard consumer trust in online shopping platforms.

News Arena Network May 15 2024

Opinion

Government e Marketplace ushers in a new era of inclusive public procurement

The GeM has accomplished a remarkable milestone by reaching ₹4 lakh crore in Gross Merchandise Value (GMV) by the end of the fiscal year, doubling its previous year's GMV. This achievement highlights the platform's digital capabilities, which have enhanced efficiency, transparency, and seamlessness in public procurement.

Mar 29 2024

Economy

Cement and Steel lead the way as India's core sector output grows 6.7% in Feb 2024

In February 2024, the combined Index of Eight Core Industries exhibited a 6.7% increase compared to the same month in 2023. These eight core industries hold a significant weightage of 40.27% in the Index of Industrial Production (IIP). The cumulative growth rate of the Index of Eight Core Industries for the period spanning April to February 2023-24 stands at 7.7%, as per provisional data.

Mar 28 2024

Economy

Government permits Adnoc of UAE to export oil from India's strategic reserves

In an order, the ministry said the condition of export being allowed only through IOC will continue, but "AMI (Adnoc Marketing International (India) RSC Limited India) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore strategic petroleum reserve, at their own cost".

Mar 23 2024

Economy

ONDC, USOF and Prasar Bharti join hands to digitally empower rural India

The primary objective of this MoU is to leverage the extensive BharatNet infrastructure supported by the USOF to bundle broadband services with over-the-top (OTT) platforms and e-commerce facilities specifically tailored for rural communities.

Mar 12 2024

Economy

Union cabinet approves Rs. 10,037 Crore UNNATI Scheme for northeastern industrial development

The proposed scheme envisages approximately 2180 applications, and it is anticipated that direct employment opportunities of about 83,000 will be generated during the scheme period. A significant number of indirect employment is also expected to be generated.

Mar 07 2024

International

Navigating digital frontiers: WTO's Decision sparks debate on E-commerce tariffs

In a significant development, the World Trade Organization (WTO) members, including India, have agreed to extend the moratorium on imposing customs duties on e-commerce trade for an additional two years, until the next ministerial conference in 2026.

Mar 02 2024

Economy

Govt allows 100% FDI in space sector

The Ministry of Commerce and Industry stated that, "The increased private sector involvement will stimulate job creation, facilitate technology transfer, and fortify India's position in the global space economy, It is anticipated that the policy reforms will incentivize companies to establish manufacturing facilities within the country, aligning with the government's 'Make In India' and 'Atmanirbhar Bharat' initiatives"

Feb 22 2024

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