Gujarat Chamber of Commerce & Industry

41/2015-16

Thu, 07 April 2016

Trade & Industry

Ease of doing business: Government weighs making PAN a unique ID for companies

Government is working on a proposal to make PAN a unique identity for business entities with a view to improving ease of doing business and ensuring a company is incorporated in a day using an integrated e-biz portal.

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Gold, silver imports in Gujarat at six year low

The month long jewellers strike, low demand and high prices has led to record low imports of gold in the state in a year in the last six years. According to latest data available from GSEC Ltd, only 83.84 metric tonnes (MT) of gold was imported in Gujarat in 2015-16 against 152.24 MT in 2014-15, registering a fall of 44.92%.

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Employment in Indian enterprises grows 38%, number of companies 42%

The sixth Economic Census has found that employment in Indian enterprises grew 38.13% in 2013 from 2005 even as the growth in the total number of establishments in the country was higher at 41.75%. As per the census, which was carried out between January 2013 and April 2014, 58.5 million establishments were found to be in operation employing 131.29 million people.

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Manufacturing PMI at 8-month high of 52.4 in March

Indias manufacturing business conditions improved in March on the back of better domestic demand and increased output. At an eight-month high of 52.4 in March, the Nikkei India Manufacturing Purchasing Managers Index (PMI) pointed to a manufacturing upturn. A reading above 50 on this survey-based index shows expansion, while a figure below that indicates contraction. The index was 51.1 in both January and February.

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Growth in services picks up pace as demand gallops; on par with manufacturing

Growth in Indias services sector picked up pace in March on the back of a strong increase in demand. The Nikkei India Services Business Activity Index climbed to 54.3 in March from 51.4 in February. A reading above 50 on this survey-based index indicates expansion

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Economic & Finance

RBI notifies 49% FDI under automatic route in insurance

Reserve Bank has notified 49 per cent foreign direct investment (FDI) under automatic route in insurance sector. "No Indian Insurance company shall allow the aggregate holdings by way of total foreign investment in its equity shares by foreign investors, including portfolio investors, to exceed forty-nine percent of the paid up equity capital of such Indian Insurance company," the notification said.

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RBI notifies 49% FDI under automatic route in insurance

Reserve Bank has notified 49 per cent foreign direct investment (FDI) under automatic route in insurance sector. "No Indian Insurance company shall allow the aggregate holdings by way of total foreign investment in its equity shares by foreign investors, including portfolio investors, to exceed forty-nine percent of the paid up equity capital of such Indian Insurance company," the notification said.

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New Projects

GCCI to take help of PSUs to revive closed SMEs in Gujarat

To support Make In India campaign, the Gujarat Chamber of Commerce & Industry (GCCI) will take help of PSUs to revive the closed small and medium enterprises (SMEs) in the state

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Indian Oil Corporation to spend Rs 20,000 crore in expansion of its Gujarat refinery

Union Minister Dharmendra Pradhan today said PSU major Indian Oil Corporation was going to spend Rs 20,000 crore for brownfield expansion of its refinery near here.

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Science & Technology

WhatsApp is now 100% unsnoopable! No one, not even its makers can see your messages

Facebook on Tuesday announced it had bolstered the default encryption settings for the more than one billion users of its popular WhatsApp messaging service so that all messages will now be accessible only to the sender and recipient.

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WhatsApp is now 100% unsnoopable! No one, not even its makers can see your messages

Facebook on Tuesday announced it had bolstered the default encryption settings for the more than one billion users of its popular WhatsApp messaging service so that all messages will now be accessible only to the sender and recipient.

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Environment

Ministry of Environment, Forest and Climate Change takes steps for improving Ease of Doing Business

The Ministry of Environment, Forest and Climate Change has taken a number of policy and procedure related decisions in the last 20 months, which the ministry claims, have reduced the weighted average time taken in granting Environment Clearance from 599 days to 192 days. The ministry added that the average time taken for granting Forest Clearance had also been reduced from 430 days to 170 days. This was revealed after an analysis of over a thousand cases was undertaken by the ministry.

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Ministry of Environment, Forest and Climate Change takes steps for improving Ease of Doing Business

The Ministry of Environment, Forest and Climate Change has taken a number of policy and procedure related decisions in the last 20 months, which the ministry claims, have reduced the weighted average time taken in granting Environment Clearance from 599 days to 192 days. The ministry added that the average time taken for granting Forest Clearance had also been reduced from 430 days to 170 days. This was revealed after an analysis of over a thousand cases was undertaken by the ministry.

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