13
Thursday
December 2018
12:09 PM IST
News Headlines
Aussies will fight back, but India has upper hand: Ghavri        World Tour Finals: Tough road ahead for Sindhu; Sameer too eyes knockout berth        Govt should consider 100% FDI in multi-brand retail trade: CII report        Shaktikanta Das named new RBI Governor        Khashoggi, other journalists named Time 'Person of the Year'        May tours Europe in desperate bid to save Brexit deal        Three policemen killed in Shopian by terrorists; weapons snatched        13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat        Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results        Cong leads in R'than, Chhattisgarh and MP; TRS races ahead in Telangana, MNF in Mizoram        Shakhtar prepare for home match 700 kilometres from home        AC Milan let Inter off the hook with Torino stalemate        Sensex cracks over 550 pts; Nifty drops below 10,600        Trump's potential next chief of staff pick leaving White House        UK PM faces fight for her political life in Brexit deal        BJP mocks Oppn meet, asks them to reveal PM candidate's name        RBI Governor Urjit Patel makes loud noise with silent exit        RLSP chief Upendra Kushwaha resigns from Union council of ministers        1st Test: India in cruise control as Australia reduced to 104/4 chasing 323        Over 16000 runners take part in Pune Half Marathon        
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Business News
NITI welcomes $16 bn Walmart-Flipkart deal
 
New Delhi, May 10 (PTI) The USD 16 billion (Rs 1.05 lakh crore) Walmart-Flipkart deal will have a positive impact on India's foreign investment inflows, NITI Aayog Vice Chairman Rajiv Kumar said today.

He also said that the deal is as per India's foreign direct investment (FDI) norms.

Walmart Inc had yesterday announced the acquisition of 77 per cent stake in Flipkart in the largest e-commerce deal which will give the US retailer access to the Indian online market that is estimated to grow to USD 200 billion within a decade.

"It will have a very positive impact. The deal is as per the country's FDI norm," Kumar said, adding that Walmart is global leader and will help small businesses in India to procure goods at cheaper rate.

The deal, he said, will also have positive impact on FDI investments into the country.

These comments assume significance as soon after the deal was announced, RSS-affiliate Swadeshi Jagran Manch alleged that Walmart was "circumventing" rules for a "back-door entry" into India and sought Prime Minister's intervention to safeguard "national interest".

"This will further eliminate small and medium businesses, small shops, and opportunity to create more jobs. Most of these small entrepreneurs are already battling for their existence; entry of Walmart will further create problems for them," the co-convenor of the manch, Ashwani Mahajan said in a letter to the prime minister.

Earlier in today, Walmart chief executive Doug McMillon played down not being able to meet either Prime Minister Narendra Modi or any senior minister after announcing the world's biggest e-commerce deal, saying he has had meetings with officials in the past and would have them in future as well.

The Prime Minister happens to be the Chairman of the government think tank, NITI Aayog.

Kumar also released a booklet compiling the work done by top 30 Innovations under the Atal Innovation Mission of NITI Aayog

He also said that by March 2019, the Aayog will be putting up 5,000 Atal Tinkering Labs across the country. ATLs under the Atal Innovation Mission of NITI Aayog are based on the philosophy that incentives and prize awards are a great beginning to create an exponential wave of innovation and entrepreneurship amongst school children.


Govt should consider 100% FDI in multi-brand retail trade: CII report
Shaktikanta Das named new RBI Governor
Sensex cracks over 550 pts; Nifty drops below 10,600
India's coal output up 10% to 156 MT during Apr-Nov
Prabhu links creativity & business opportunities to cheap beverages in Goa
31st GST Council to meet on Dec 22 in Delhi
Cabinet Approves Policy to Double Farm Exports to $60 Billion by 2022
RBI keeps key rates unchanged
NTPC wins 85 MW solar capacity in UP Govt tender
Maintain status on currency management, HC tells SBI
Amway India enters herbal skincare space
New 2018 Maruti Suzuki Ertiga Launched In India, Prices Start At ? 7.44 lakh
Centre's New Move May Escalate Feud With RBI Ahead Of Board Meet: Report
Air India eyes Rs 800 cr from sale of over 70 properties
Intel India opens design house costing Rs 1,100 cr at B'luru
Sensex rebounds 332 pts on easing crude, rupee gains
Govt mulls second round of 2,500 MW medium-term PPA auction
India invites Swedish companies to explore investment opportunities
Govt cancels ED officer Rajeshwar Singh's leave
Facebook blocks 115 accounts ahead of US midterm elections
KERALA NEWS
Activist Rehana Fathima, Who Attempted Sabarimala Trek, Arrested Over Facebook Post
 (Kochi, Nov 28, 2018): Model and activist Rehana Fathima, who tried to reach Kerala's Sabarim  
Good news for Keralite Nurses: IELTS cut-off reduced to 6.5
BJP leader K Surendran, 71 others granted bail
Sabarimala protests: Arrests up to 2061, Kerala HC warns police
INTERNATIONAL NEWS
Khashoggi, other journalists named Time 'Person of the Year'
 New York, Dec 11 (AFP) Saudi journalist Jamal Khashoggi, who was murdered in October at his country'
May tours Europe in desperate bid to save Brexit deal
Trump's potential next chief of staff pick leaving White House
UK PM faces fight for her political life in Brexit deal
NATIONAL NEWS
Three policemen killed in Shopian by terrorists; weapons snatched
 Three policemen were killed Tuesday when Pakistan-based Jaish-e-Mohammed terrorists attacked a guard
13 of 19 Rajasthan ministers lose elections; CM Vasundhara Raje retains her seat
Clear message to Modi that People are unhappy and it is time for change: Rahul on poll results
BJP mocks Oppn meet, asks them to reveal PM candidate's name
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