Union Minister of Commerce and Industry Shri Piyush Goyal Chairs India-Japan Industry Roundtable on Semiconductors and Artificial Intelligence in Toky...
India market expansion guides Nestle 's volume-led growth, export-hub development and long-term investment without compromising product quality. Nestle 's India strategy focuses on volume-led growth, wider consumer reach, portfolio development, efficiency improvements and sustained long-term investment. Growth is intended to combine increased household penetration with pricing, premiumisation, affordability and value offerings. India is also intended to develop further as a production and export hub for global markets, supported by manufacturing capacity and expanding overseas supplies. Product quality and consumer interests remain constraints on the pace of expansion.
Credit awareness through regular score and report review supports responsible borrowing, error detection, and informed credit management. Free online access to the Credit Pulse Report is available through the Bajaj Finance website. Users verify their registered mobile number through OTP authentication, provide identifying particulars including PAN and date of birth, and then view the available credit score. The report may be reviewed and downloaded to examine repayment history, active credit accounts, recent enquiries and other recorded credit information. Periodic review can help identify unfamiliar accounts, inaccurate repayment records, overdue amounts, unupdated information and changes in credit utilisation.
Credit lifecycle consistency requires facility-specific treatment so UPI-linked credit records, repayments and customer obligations remain aligned. CARD91's Credit Lifecycle Consistency Framework calls for facility-specific treatment of Credit Line on UPI transactions and continuing credit events. Credit limits, outstanding balances, repayments, refunds, reversals and EMI conversions should be accurately connected to the relevant customer account and applied according to the underlying facility's terms. Bank policy, customer consent, transaction controls and portfolio actions should remain aligned. Customer-facing applications, statements and alerts should consistently reflect available credit, outstanding obligations and repayment schedules, while disputes and manual corrections follow documented, reviewable processes.
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Semiconductor and AI cooperation advances through industry engagement, investment facilitation, and accelerated economic partnership review. India-Japan cooperation in semiconductors and artificial intelligence is being strengthened through industry engagement, investment facilitation, technology partnerships and an economic-security-oriented framework. India's semiconductor strategy covers chip design, machinery and materials, fabrication, ATMP/OSAT, research, and talent development, supported by Semicon India initiatives. Bilateral engagement also seeks to address industry concerns, expand manufacturing and innovation partnerships, and accelerate review of the Comprehensive Economic Partnership Agreement to reflect emerging economic opportunities.
Virtual trader engagement platform strengthens weekly grievance feedback, policy information sharing, and institutional dialogue between government and trading communities. The Virtual Conference Interaction Meetings provide a weekly, accessible forum for retail traders to engage with the Government, receive information on relevant schemes, policies and reforms, and submit grievances and suggestions. The platform enables recurring concerns to be identified and communicated to concerned Ministries and Departments for consideration and redressal. It seeks to strengthen institutionalised dialogue, feedback, transparency, trust and cooperation between the Government and the trader community.
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Competition clearance for full coal-sector acquisition addresses limited Indian market links through metallurgical and thermal coal sales. Competition approval covers Yancoal Australia Limited's acquisition of 100% equity interest and warrants in Kestrel Coal Group Pty Ltd. The target holds an 80% interest in the Kestrel Joint Venture, which operates a Queensland coal mine producing principally metallurgical coal and a smaller volume of thermal coal. Neither the acquirer nor the target has a physical presence in India. Their Indian nexus is limited to coal exports and the joint venture's sales of metallurgical coal into India.
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Retaliatory tariffs on imported goods escalate trade measures, targeting key sectors while maintaining support for affected domestic businesses. Canada has imposed retaliatory tariffs on United States-origin industrial and consumer goods following increased United States tariffs on Canadian goods. Effective 8 September, the measures apply at rates of 15%, 25% and 50% across more than 700 products, including steel, aluminium, appliances, dairy products, seafood, furniture, clothing, pulp and paper, and electronics. Existing countertariffs on automobiles remain in force. The measures seek to protect domestic businesses and reduce imports, supported by assistance for affected workers and businesses amid risks to integrated cross-border supply chains.
Foreign-exchange market intervention and lower crude prices supported rupee appreciation, while USD/INR remained range-bound amid shifting dollar conditions. Foreign-exchange market conditions supported rupee appreciation against the US dollar, driven by stronger domestic equity markets, a weaker US dollar and lower crude oil prices. The USD/INR pair remained broadly range-bound, with oil-price movements and Reserve Bank intervention identified as key near-term influences. The special USD-INR foreign-exchange swap facility for FCNR(B) deposits, overseas foreign-currency borrowings and external commercial borrowings mobilised substantial foreign-exchange inflows.
Section 301 tariffs may have lower impact where major exports remain outside their scope amid resilient domestic demand. Economic resilience is attributed to buoyant domestic demand, increased manufacturing and services activity, improving liquidity conditions, credit growth, investment activity and rebounding foreign capital inflows. Recovery in the southwest monsoon improved kharif sowing and reservoir storage, partly mitigating agricultural-sector risks. US Section 301 tariffs are expected to have a comparatively lower effect because major Indian exports to the United States, including smartphones, petroleum products and pharmaceuticals, remain outside their scope. Foreign direct investment improved with higher gross inflows, while outward foreign direct investment continued to decline.
BIS certification exemptions may be structured for high-tech manufacturers to ensure timely equipment imports and support domestic manufacturing operations. Mandatory Bureau of Indian Standards (BIS) certification requirements for equipment and components used by high-technology manufacturers may be addressed through a proposed exemption framework. Possible exemptions may be structured at the company, industry, product, project or bulk level to support timely availability of imported equipment, goods and services for manufacturing operations. The approach is directed at high-technology industries generally, particularly semiconductor and artificial intelligence sectors, while addressing delays associated with mandatory certification and complex procedures for specialised imported parts and equipment.
Corporate social responsibility should prioritise measurable community outcomes, transparency, capable implementing agencies, and strategic integration with sustainability objectives. Corporate social responsibility should prioritise measurable community outcomes rather than expenditure alone. Effective CSR depends on community-responsive design, capable implementing agencies, rigorous monitoring, social audits, and transparent use of technology and data. Public sector enterprises may use thematic priorities, convergence with government programmes, and institutional collaboration to replace isolated interventions with strategic CSR. CSR capacity building encompasses legal and regulatory frameworks, governance, project planning, impact assessment, reporting, ESG and the Social Stock Exchange.
Regional rural bank performance highlights improved profitability, asset quality, priority-sector lending, financial inclusion, and digital banking expansion. Regional Rural Banks achieved prescribed priority-sector lending targets and sub-targets, expanded financial inclusion through new Pradhan Mantri Jan Dhan Yojana accounts, and recorded improvement in profitability, asset quality, and credit-deposit ratio. Digital banking adoption is to be accelerated to improve operational efficiency, customer experience, and banking access in rural and remote areas. Sponsor Banks are expected to strengthen information-technology infrastructure and support increased area-specific credit flows and innovative lending.
Ethanol-blended fuel policy faces calls for consumer-focused review amid sugar supply pressures and older-vehicle compatibility concerns. Consumer-focused review of the ethanol-blended fuel policy is sought because higher ethanol diversion may affect domestic sugar availability and prices, potentially requiring sugar imports that could reduce claimed foreign-exchange savings from lower petroleum imports. The review should address ethanol and sugar production, domestic prices, imports, and consumer, environmental and economic concerns. Availability of lower-blend fuel alongside E20 is advocated for owners of older vehicles, with consumer choice between E10 and E20 supporting a comprehensive reassessment.
Economic resilience remains supported by domestic demand, manufacturing, liquidity and capital inflows despite external trade and geopolitical risks. Economic resilience is attributed to buoyant domestic demand, sustained manufacturing and services activity, and double-digit merchandise trade growth. Improved southwest monsoon conditions supported kharif sowing and partly reduced agricultural risks, although geopolitical frictions and fresh United States tariffs remained external risks. Supply-side pressures raised consumer price inflation, while stable core inflation indicated limited cost pass-through. Easing liquidity, credit growth, investment activity and rebounding foreign capital inflows supported financial and external-sector conditions.
Sugar price controls combine raw sugar imports, stockholding limits, and export restrictions to curb retail inflation. Sugar market intervention combines permitted imports of raw sugar, stockholding limits for dealers and bulk consumers, and an existing export ban to address sharp increases in retail and wholesale prices. Limits on inventories held by trade participants and large industrial consumers are intended to curb speculation and hoarding. Although ex-mill rates declined after the import decision and anti-hoarding measures, the reduction had not yet translated fully into retail prices. The measures seek to supplement domestic availability and restrain practices that may intensify consumer-price increases.
FM Calls for Collective and Collaborative Approach Not Unilateralism to Deal with any Global Crisis - Negotiations on for India-US Bilateral Investment Treaty: FM
November 9, 2010
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Union Finance Minister, Shri Pranab Mukherjee said that we are all witnessing to an emerging new world order where there is a higher degree of interdependence amongst nations and more dynamic and equitable arrangement for prosperity. Shri Mukherjee said that we have learnt a lesson from the current global crisis that remedy lies in collective and corroborative approach-not in unilateralism. Shri Mukherjee was addressing the Indo-US CEOs Forum meeting, here today. Shri Mukherjee said that in our anxiety to solve problem in one part of the World, we should not create greater problems in other parts of the World and more so in the Emerging Markets Developing Countries (EMDCs).
The meeting was attended by US Treasury Secretary, Mr. Timothy Geithner, Commerce Secretary Gary Locke, Agriculture Secretary Thomas Vilsack from US side and Commerce and Industry Minister Shri Anand Sharma, Deputy Chairman, Planning Commission Shri Montek Singh Ahluwalia from Indian side among others. Besides, the meeting was also attended by the CEOs of different US and Indian Companies, part of Indo-US CEOs Forum.
The Finance Minister said that India has emerged as an attractive global investment destination. He told that in infrastructure sector alone, the investment requirement is US dollar 514 billion for the Eleventh Plan (2007-08 to 2011-12), out of which almost 30% of this investment is envisaged to come from private sources. Shri Mukherjee further said that for the Twelfth Five Year plan (2012-13 to 2016-17), the investment in infrastructure is envisaged at US dollar 1 trillion. He told that this magnitude of investment would require innovative modes of financing.
As far as Indo-US bilateral relations are concerned, the Finance Minister said that economic policy, finance and trade constitute important planks of our relationship. Shri Mukherjee said that for us, the US remains a prime source of investment, technology and an important trading partner. He said that as we make efforts to increase investment in infrastructure, and give a fresh impetus to the manufacturing sector, the importance of our partnership with the US will increase. This mutually beneficial engagement would stimulate innovation, spur job creation, and promote sustainable and inclusive growth in our countries, the Minister added.
Shri Mukherjee said that we have set-up a Committee to consider the recommendations of the Indo-US CEO's Forum under the Chairmanship of Deputy Chairmanship of Planning Commission and the Committee has already met twice. He said that Treasury Secretary Mr. Geithner and he launched the Financial and Economic Partnership when Mr. Geithner visited Delhi in April this year. The Finance Minister said that the Partnership will strengthen engagement in economic, financial and investment related issues. He further added that both the countries are currently negotiating a Bilateral Investment Treaty and are committed to take further initiatives that will contribute to creating a more conducive environment for investment flows.
The Finance Minister, Shri Mukherjee concluded his opening remarks by reiterating his Government's as well as his personal commitment as the Finance Minister to look into the Forum's recommendations.
The complete text of the opening remarks made by Finance Minister, Shri Pranab Mukherjee while addressing Indo-US CEOs Forum Meeting is given below:
"I welcome you to India and thank you sincerely for travelling to Delhi for the meeting of the CEOs Forum. We look forward to this forum both to identify areas for cooperation and to suggest how government can help the industry achieve the goals. We had a productive meeting in June in Washington DC and I am glad that we are able to meet again on this historic occasion of President Obama's visit to India. There was an extremely successful business summit in Mumbai as well as round tables with CEOs and entrepreneurs. As President Obama said in Mumbai and our Prime Minister has said repeatedly, our two sides agree that we must give the highest priority to fully harnessing the enormous potential for economic cooperation.
I greatly value your engagement and support to help build a shared vision of the Indo-US partnership. This forum has emerged as an important platform for our two countries to focus on challenges and issues of common interest, for expanding our bilateral trade and investment, for the stability of the global financial system, to promote research and technology development and work in the areas of education and public health.
As we meet here today, the world economy is showing signs of emerging from the global slowdown following one of the deepest downturns that we have witnessed in recent times. The pace and shape of the recovery across countries, both in the developed and the emerging world, is however varied and perhaps uncertain in some instances. At home, we have done better than what was perhaps anticipated. While we have got certain things right, there are others that need our attention and follow-up, both at the international as well as the national levels.
The financial crisis has compelled us to rethink some of the basic principles of economics and finance, the functioning of financial markets and the global economy. Leaders of the G20 countries have come together to discuss global financial instability and the resulting economic slowdown. They are finding ways to ensure better regulation of markets, strengthening the monitoring and response mechanisms to global developments and promoting growth in a sustainable manner. This is a big change. Indeed, we are all witness to an emerging new world order where there is a higher degree of interdependence amongst nations and, hopefully, there is also a more dynamic and equitable arrangement for global prosperity. One lesson we are to learn from this global crisis is that, remedy lies in collective and collaborative approach- not in unilateralism. In our anxiety to solve problem in one part of the World , we should not create greater problems in other parts of the World and more so in the EMDCs.
India has emerged as an attractive global investment destination. In infrastructure sector alone the investment requirement is US dollar 514 billion for the Eleventh Plan (2007-08 to 2011-12). Almost 30% of this investment is envisaged to come from private sources. For the Twelfth Five Year plan (2012-13 to 2016-17), the investment in infrastructure is envisaged at US dollar 1 trillion. This magnitude of investment would require innovative modes of financing.
Economic policy, finance and trade constitute important planks of our bilateral relations. For us, the US remains a prime source of investment, technology and an important trading partner. As we make efforts to increase investment in infrastructure, and give a fresh impetus to the manufacturing sector, the importance of our partnership with the US will increase. This mutually beneficial engagement would stimulate innovation, spur job creation, and promote sustainable and inclusive growth in our countries.
We have set -up a Committee to consider the recommendations of the Indo-US CEO's Forum under the Chairmanship of Deputy Chairmanship of Planning Commission and the Committee has already met twice.
You are all aware that Secretary Geithner and I launched the Financial and Economic Partnership when he visited Delhi in April this year. The Partnership will strengthen engagement in economic, financial and investment related issues. We are currently negotiating a Bilateral Investment Treaty and are committed to take further initiatives that will contribute to creating a more conducive environment for investment flows.
I look forward to hearing from you in the days ahead, and to working with you. Let me reiterate my Government's and my personal commitment as The Finance Minister to look into the Forum's recommendations. Thank you for joining us today and I wish you all the best in your endeavours".
Bilateral Investment Treaty negotiations aim to deepen economic partnership and improve the investment environment between the countries.
A policy statement urging a collective and collaborative approach to global crises to avoid spillovers to Emerging Markets, highlights India's large infrastructure financing needs and the need for innovative financing and private participation, and describes institutional measures to deepen Indo US economic engagement including a Committee to consider CEOs Forum recommendations, a Financial and Economic Partnership, and ongoing negotiations of a Bilateral Investment Treaty to foster a more conducive investment environment.
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