DIPP Secy authorised to issue licences to pvt players for mfg defence items
The Dollar Business Bureau A gazette notification issued by India’s Home Ministry on Saturday, says that the Secretary in the Department of Industrial Policy and Promotion (DIPP) can now issue licences to private players for manufacturing defence items. Private sector players can now apply to the commerce ministry for licences to take up the manufacture of tanks, fighter planes, warships and other defence equipment. This is a step the government feels will promote ease of doing business and give impetus to the 'Make In India' initiative. However, the licences will be issued only after the Home Ministry supervises the contenders to the license. The power of issuing licences was exclusively with the home ministry earlier. The decision has been taken ...
Request to extradite Mallya certified by UKs secy of state
The Dollar Business Bureau The United Kingdom (UK) has informed India that the request for extraditing liquor baron Vijay Mallya, declared as a proclaimed offender in a loan default case, has been approved by the UK’s secretary of state. “The UK Home Department on February 21 conveyed that the request of India for extradition of Mallya has been certified by the secretary of state and sent to the Westminster Magistrates' Court for a district judge to consider the issue of releasing of warrant," said Gopal Baglay, Spokesperson, Ministry of External Affairs. This latest development is a major step ahead towards extraditing the fugitive industrialist, who is wanted in India in a loan default case of more than Rs.9,000 crore. Baglay also pointed out that a ...
Black money: India to expand customs network overseas
The Dollar Business Bureau India is considering a proposal to expand its Customs Overseas Intelligence Network across Asia for checking cross-border illegal trade and blackmoney besides gathering information on commercial frauds, reports PTI. A proposal in this regard is under consideration of the ministry of external affairs, sources said. The network, which functions under the Directorate of Revenue Intelligence under the finance ministry, plays a pivotal role in exchange of information related to cross-border illegal trade. At present, there are nine Customs Overseas Intelligence Network (COIN) offices in various cities including London and Brussels. The finance ministry has recently approved two COIN offices in China, the proposal which has been agreed upon by the MEA. “Two COIN offices are yet ...
