Connect with us
Monday,30-June-2025
Breaking News

Business

Crack down on OPPO, Vivo, Xiaomi can push them to leave India: Chinese state media

Published

on

 For Chinese processing and manufacturing enterprises that originally tried to make India an overseas product-processing centre, if it is indeed increasingly difficult and unprofitable to operate in the country, then withdrawing from India is also an available option, state-run Global Times has said.

The Indian government is looking into cases of alleged tax evasion by three Chinese mobile companies — OPPO, Vivo India and Xiaomi.

“Frequent investigations by the Indian side into Chinese enterprises not only disrupt those companies’ normal business activities, but also impedes the improvement of business environment in India and chills the confidence and willingness of market entities, especially Chinese enterprises, to invest and operate in India,” read a commentary in the publication.

Since April 2020, out of 382 foreign direct investment (FDI) proposals the central government received from Chinese firms, India approved only 80 as on June 29.

“The number presents the increasingly difficult business environment facing Chinese investment and companies doing business in India,” the report said.

Some manufacturers have turned their eyes to Southeast Asian countries such as Vietnam after withdrawing from India.

“Faced with competition from Vietnam, India should no longer set obstacles for its manufacturing development, and should stop carrying out crackdown on Chinese investment,” the report added.

Despite the Covid-19 pandemic, the China-India trade is on course to cross $100 billion for the second consecutive year as it has gone up to $67.1 billion in the first half of 2022.

“Hopefully India can provide a fair and non-discriminatory business environment for Chinese investors, which will be mutually beneficial to both Chinese enterprises and India’s manufacturing ambitions,” the commentary read.

OPPO India, Xiaomi India and Vivo India were served notices by the Directorate of Revenue Intelligence (DRI) for duty evasion, Finance Minister Nirmala Sitharaman informed the Rajya Sabha this week.

A show-cause notice demanding Rs 4,403.88 crore has been served to OPPO Mobiles India Ltd based on an investigation conducted by the DRI, while five cases of Customs duty evasion have been registered against Xiaomi Technology India, Sitharaman said in a written reply.

The DRI detected customs duty evasion of around Rs 2,217 crore by Vivo Mobile India Private Ltd.

A show-cause notice has been issued to Vivo India demanding customs duty amounting to Rs 2,217 crore, under the provisions of the Customs Act.

National

Maha govt tables bill to set up Gadchiroli district mining authority

Published

on

Mumbai, June 30: The Maharashtra government on Monday tabled the bill for the establishment of the 16-member Gadchiroli District Mining Authority for the coordination and supervision of orderly and rapid development of the mineral-bearing area and execution of plans and projects.

The authority will be headed by Chief Minister Devendra Fadnavis, who is also the Gadchiroli district guardian minister. The government’s move is important as it hopes to finish the Left Wing Extremism (LWE) and develop Gadchiroli as the next steel city of India.

The district is endowed with abundant minerals such as iron ore, hematite, magnetite, BHQ, limestone, Dolomites and coal, which are used as raw materials for various manufacturing industries.

Further, Gadchiroli district, which is rich in iron ore, has the potential to be developed as a hub for mineral-based industries, especially the steel industry, said the bill.

“Currently, the absence of an integrated administrative mechanism hampers the swift execution of the mining project. Hence a need was felt for the establishment of a unified authority comprising of certain ministers and secretaries of the relevant departments under the chairmanship of the Chief Minister to expedite mining approvals and foster the growth of mineral based industries such as steel and cement, thereby accelerating the holistic development of the Gadchiroli district and consequently of the state,” said the bill.

It pointed out that the authority will act as a catalyst in speeding up the process of operationalisation of approved mining leases, and will also generate employment in the district and boost the revenue of the state.

According to the bill, the Mines and Minerals (Development and Regulation) Act, 1957, and rules framed thereunder govern the development and regulation of mines and minerals. The major mineral blocks are auctioned following the Mineral (Auction) Rules, 2015. The mining concession holder is required to obtain various clearances and no-objection certificates from various departments and district officers of the government and local authorities within the timelines prescribed in the rules.

If the bidder fails to meet the prescribed timeline, the alloyed major mineral blocks will have to be auctioned again.

The Chief Minister last week at the industry conference said, “Gadchiroli 10 years ago was zero industrial area, nobody thought that it would become an Industrial magnet. Due to a slew of policies, Gadchiroli is becoming a new steel city of India to produce one-third of India’s steel that will change the entire outlook of the district.”

Continue Reading

National

Hindi cannot be forced now in Maharashtra: Uddhav Thackeray

Published

on

Uddhav Thackeray

Mumbai, June 30: Shiv Sena(UBT) chief Uddhav Thackeray on Monday said the Hindi language cannot be forced upon people now as the power of the Marathi people has compelled the state government to withdraw two of its resolutions on introducing Hindi along with Marathi and English for Classes 1 to 5.

Thackeray, who attended the Monsoon Session of the state legislature on its first day, said, “We will announce in two to three days what exactly the victory rally or victory march will be like and where on July 5 it will be held (as the joint morcha has been cancelled due to the government’s decision). We are also talking to everyone about that. The Marathi traitors raise their heads as soon as they realise that we are a little scattered. Yesterday, we crushed this head. If we don’t want them to come back, then we should maintain this unity instead of waiting for another crisis. We will not stop until we create a vision of this unity on July 5. We will definitely celebrate the victory. Everyone forgot their party differences and came together with us during the movement. We need to show the same unity in the victory march.”

“Love for the mother language should be beyond the party, the government has made a lot of efforts. Still, I thank them. A new committee has been appointed under the chairmanship of Narendra Jadhav (former Planning Commission member). I am telling the government that this is a matter of education, and you have appointed a committee of an economist. Whatever the committee, the issue of compulsion is over now. Even if a committee is formed now, Hindi cannot be forced on us; the power of the Marathi people has shown this yesterday,” said Thackeray at the press conference.

Thackeray said that the slogan of ‘Jai Maharashtra’ has once again been raised in every village and corner of Maharashtra.

“Shiv Sena and Shiv Sainiks were at the forefront in raising this slogan of Maharashtra. But along with that, I sincerely thank all the political parties and Marathi-speaking people who forgot their party differences and participated. We will know in the coming days whether the government has shown wisdom or not. But they immediately cancelled the government resolution on making Hindi compulsory. It was achieved due to the unity of the Marathi people. If they had not cancelled it, many Marathi lovers from the BJP, Shinde group and Ajit Pawar group would have participated in the July 5 morcha, which now will become a victory rally,” he added.

Thackeray on Sunday said the government’s power faced defeat before the power of Marathi Manoos on the contentious issue of the introduction of Hindi as a third language after Marathi and English for Classes 1 to 5. “Now this unity of Marathi people should continue,” asserted Thackeray.

“The BJP’s hidden agenda was to divide the Marathi people and attract the non-Marathi voters by raking up the Marathi vs Non-Marathi issue. But the good news is that the Marathi people took a sensible stance. They are not against the Hindi language, but against coercion. Since there was a movement against coercion, there was no division. The government thought that the division of the Marathi people would be beneficial to it,” claimed Thackeray.

Continue Reading

Crime

CBI books ex-SBI branch manager in Assam for illegal assets of Rs 80 lakh

Published

on

CBI

New Delhi, June 30: The CBI has booked a former manager of the State Bank of India branch in Assam for possessing allegedly illegal assets worth over Rs 80 lakh, an official said on Monday.

Pinku Kumar, former Branch Manager, SBI, Ramkrishnanagar Branch, Karimganj, is also facing a separate investigation over his alleged collusion in a multi-crore scam involving sanction of loans using forged documents, the official said.

CBI’s Shillong-based Anti-Corruption Branch (ACB) registered the latest Disproportionate Assets case against Pinku Kumar on June 27 after receiving a complaint from a preliminary investigator.

The complaint alleged commission of criminal misconduct by Pinku Kumar while intentionally enriching himself illicitly, during the check period from April 1, 2019 to March 27, 2025.

During this period, he was found in possession of pecuniary resources/property, disproportionate to his known sources of income which he cannot satisfactorily account for, to the tune of Rs 99.20 lakh -(81.84 per cent DA), said the CBI FIR filed against the former bank manager.

Taking note of the preliminary probe conducted in the matter of criminal misconduct, the CBI’s FIR said, “The facts mentioned in the aforesaid complaint, prima facie, reveal commission of congnizable offences, punishable under Section 13(2) read with 13(1)(b) of the Prevention of Corruption Act, 1988 (as amended 2018) on the part of Pinku Kumar.”

Section 13 of the Act defines various forms of criminal misconduct by public servants. These include actions like abusing their position, misappropriating property, or possessing assets disproportionate to their known sources of income.

Earlier in March, the CBI booked Pinku Kumar twice in separate corruption cases naming two brokers Sumen Paul and Jadab Paul, along with the former, in each of the cases.

Raids conducted by the federal agency in these two cases led to seizure of 481 grams of gold, 11.11 gram of diamond-studded jewellery and 1,092 gram silver.

The CBI investigation showed that the former bank manager conspired with the two brokers and allegedly approved loans base on forged papers, leading to a loss of crores of rupees to the SBI.

Continue Reading

Trending