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Mint
32 minutes ago
- Mint
Govt may put retail trade policy on back burner as India-US trade talks enter final leg
New Delhi: The Union government is likely to put the proposed National Retail Trade Policy on the back burner, a move seen as a conciliatory gesture towards Washington as negotiations for the India-US bilateral trade agreement enter the final stretch. The retail policy, which was first proposed in 2019, was meant to address structural challenges faced by brick-and-mortar traders and small businesses due to rising digitisation and platform-driven commerce. Shelving the policy may indirectly benefit major US-based retail giants—particularly e-commerce platforms and global retail chains like Walmart Inc.—by allowing them to continue operating in India without additional regulatory oversight. Domestic retail chains such as DMart, owned by Avenue Supermart Ltd, Reliance Retail Ltd, and Tata Retail Ltd would also benefit from the policy shift. With India's e-commerce policy, originally due in 2023,pushed to the sidelines, government officials said a separate retail policy is no longer necessary. Much of what the National Retail Trade Policy set out to achieve is already being implemented through decentralised platforms such as the Open Network for Digital Commerce (ONDC) and cooperative-led initiatives like the app-based taxi service 'Sahkar', said a person familiar with the government's thinking. 'A policy is a set of actions—and those actions are being taken," this person said, citing ONDC's success in leveling the playing field across sectors. 'Creating compliances when the purpose has already been largely achieved doesn't make sense," said a second person. Both of them declined to be identified as the government hasn't made a final decision yet. A US team of negotiators is scheduled to visit New Delhi in the second week of August to resolve the deadlock over contentious issues in the talks for the India-US bilateral trade agreement. India has made several gestures, starting with the Union Budget, to improve the trade climate, but feedback from the US suggests that its focus remains largely on pushing for exports and greater market access for GM maize and soy-based products. The US's dairy industry also has been lobbying for access to India's vast consumer market. Spokespersons of the ministries of commerce and consumer affairs, the Retailers Association of India, Amazon India, Walmart-owned Flipkart, Tata Group-owned BigBasket, DMart, and Reliance Retail did not immediately reply to emailed queries. A missed opportunity India's rapidly expanding organized retail sector is expected to reach $230 billion by 2030, Deloitte and the Retailers Association of India said in a joint report in February. The report added that private consumption in India had grown from $1 trillion in 2013 to $2.1 trillion in 2024 at a compound annual growth rate of 7.2%, surpassing the growth rates of the US, China, and Germany. A draft National Retail Trade Policy had been prepared to streamline and support the development of all formats of the retail trade sector in a harmonious manner, the ministry of commerce and industry informed the Lok Sabha on 22 December 2021. According to the ministry, the policy aimed to improve the ease of doing business, ensure easy and quick access to affordable credit, facilitate modernisation and digitisation of retail trade, and develop physical infrastructure across the retail distribution chain. The retail trade policy also sought to promote skill development to improve labour productivity, create large-scale employment opportunities, and establish a grievance redressal mechanism for the welfare of traders and their employees, the ministry had said. 'The policy has been in the works for a long time, and we have been waiting for it. The challenges in the sector—particularly those affecting MSMEs (micro, small, and medium enterprises))—must be addressed comprehensively through this policy," said Vinod Kumar, president of the India SME Forum. The second unnamed person quoted earlier pointed to ONDC, an initiative of the commerce ministry's Department for Promotion of Industry and Internal Trade, as an alternative. The digital platform offers a bouquet of services, including ride-booking, food-delivery, and e-commerce. 'Sellers are getting onboarded without any hassle, making the process seamless," said this person. According to data available on the ONDC website, about 64 million orders were placed in 2024-25 across 860 districts, and 166,691 vendors had been onboarded. Data for previous years was not available. Kuljeet Singh, chief financial officer at GI Group Holding, a staffing solution provider in the retail sector, said delaying the National Retail Trade Policy may slow the momentum of employment growth in the retail sector. 'The policy was expected to support small traders, shopkeepers, improve access to credits, and encourage formal job expansion. Without it, growth in some areas like logistics, warehousing, etc., may take a bit longer," Singh said. 'However, in our view, retail will continue to provide jobs as it does today. This delay may be a missed opportunity but with the right steps taken later, the sector can still grow stronger."
Time of India
6 hours ago
- Time of India
TOI explains: How Nisar was built - why it'll take 90 days before any data comes in
TOI explains: How Nisar was built & why it'll take 90 days before any data comes in NEW DELHI: The India-US Earth observation satellite, Nasa-Isro Synthetic Aperture Radar (Nisar), is set for launch on July 30 from Isro's spaceport in Sriharikota aboard the GSLV-F16 rocket. But the mission's real work begins after it enters orbit. Over the next several weeks, the satellite will go through a carefully sequenced set of actions before it starts sending data. In all, Nisar will need at least 90 days to enter its 'science phase'. How Nisar was built Before we get to what happens after launch, here's how the satellite came together: Nisar is the result of nearly a decade of collaboration between Isro and Nasa. Over 8–10 years, both agencies separately developed and tested key systems, which were then brought together into one observatory. The core radar payload was built in parts — Isro developed the S-band synthetic aperture radar (SAR), and Nasa's Jet Propulsion Laboratory (JPL) built the L-band SAR. These were integrated into a shared structure called the Integrated Radar Instrument Structure (IRIS). Assembly of IRIS and other payload elements took place at JPL. The structure was then shipped to Isro, which had in parallel developed the satellite's mainframe at the UR Rao Satellite Centre (URSC) in Bengaluru. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brother Donates Kidney To Save Sister's Life. One Year Later, He Says, I Wish I Never Did It, When This Happens Daily Sport X Undo Isro then carried out the final assembly, integration and testing of the complete satellite. And now that the satellite is ready for launch, let's look at what will happen in the starting Wednesday: Phase 1: Launch At 5.40pm on Wednesday (July 30), the GSLV-F16 rocket will place the 2.8-tonne satellite into a Sun-synchronous polar orbit. This means the satellite will pass over the same part of Earth at roughly the same local solar time every day — ideal for tracking changes on the surface. Phase 2: Deployment (Post-launch Days 10-18) Nisar carries a massive 12-metre-wide mesh reflector, which acts as a radar antenna. Since it is too large to launch fully open, it will be folded and stowed during launch and then deployed in space using a complex multistage boom system. The process begins on the 10th day from launch — 'Mission Day 10' which becomes 'Deploy Day 1'. Here's how the deployment unfolds: On Deploy Day 1 (DD-1), engineers initiate pre-deployment checks and unlock six 'launch restraints' that keep the system secure during launch. Two more restraints are released, and the first hinge (called the 'wrist hinge') is activated on DD-2. This starts the unfolding motion of the boom. On DD-3, the shoulder hinge is extended, swinging the boom further outward and on DD-4, the elbow hinge opens, continuing the arm-like movement. The root hinge is deployed on DD-5, bringing the boom to full extension, and on DD-6, a pause is built into the schedule to allow for analysis and verification of earlier steps. And, DD-7 will be a buffer or 'margin' day in case any delays or issues need to be addressed. Once this is through, on DD-8, the satellite performs a 'yaw manoeuvre' (rotation) to correctly orient itself, and then finally opens the circular radar reflector. This slow, deliberate sequence ensures the delicate boom and antenna unfold without damage or misalignment, and paves the way for the next phase. Phase 3: Commissioning After deployment and until the 90th day from launch, all systems are checked and calibrated. This includes the satellite's mainframe, radar electronics, and onboard instruments developed by both Isro and JPL. Phase 4: Science Ops Once fully operational, Nisar will begin capturing data across both L-band and S-band frequencies. The satellite will observe ground movement, ice sheets, forests and land use — feeding data to researchers worldwide. Regular manoeuvres will keep it in position, and a pre-coordinated observation plan will guide its workload until the end of its mission life.
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Business Standard
7 hours ago
- Business Standard
FPI selloff, result woes drag Indian equity markets down for a third day
Indian equity benchmarks slumped on Monday, weighed down by stalled India-US trade talks, sustained foreign portfolio investor (FPI) selling, and sharp declines in banking and IT heavyweights. The Sensex plunged 572 points (0.7 per cent) to close at 80,891, while the Nifty fell 156 points (0.6 per cent )to 24,681. The selloff erased ₹3.8 trillion from the total market capitalisation of BSE-listed firms, now at ₹448 trillion. Monthly losses stand at ₹13.3 trillion, with both benchmarks down nearly 6 per cent from September peaks. Investors were wary of taking positive bets amid reports that trade talks between India and the US remained deadlocked and dimmed hopes of an interim deal before US President Donald Trump's deadline. On the contrary, the deal between the US and EU eased concerns of a bigger trade tiff that could have hurt the global economy. US President Donald Trump and European Commission President Ursula von der Leyen announced a trade deal on Sunday, which will see the bloc face 15 per cent tariffs on most of its exports. FPIs were net sellers on Monday, worth approximately ₹ 6,083 crore, marking their sixth consecutive day of selling and the largest single-day sale since May 30. Kotak Mahindra Bank was the largest contributor to the decline in the Sensex, followed by Bharti Airtel and Bajaj Finance. Kotak Mahindra Bank's shares declined 7.5 per cent, their biggest one-day fall since April 25, 2024, after the private lender posted a 40 per cent year–on–year (Y-o-Y) decline in its consolidated net profit to ₹4,472 crore in the April–June quarter. A rise in provisions and contingencies due to higher slippages also weighed on profits for the recently concluded quarter. TCS ended the session with a loss of 1.76 per after it announced on Sunday that it would lay off approximately 2 per cent, or around 12,260 employees, of its global workforce of 613,069 this financial year. "Domestic market sentiment has remained cautious, weighed down by a disappointing set of Q1 earnings, delays in the India-US trade agreement, and continued FII outflows. In contrast, global markets remain broadly positive, supported by US-EU trade developments that are perceived as less concerning than anticipated,' said Vinod Nair, head of research of Geojit Investments. In the future, the remainder of corporate earnings and the trajectory of the trade deal with the US will determine the market movement. "Markets are currently grappling with headwinds on both domestic and global fronts. In the banking space, earlier resilience had helped limit the decline; however, renewed pressure across the sector — except for heavyweights ICICI Bank and HDFC Bank — is adding to participants' concerns. We now view the 24,450 – 24,550 zone as a critical support area, while the 24,900 – 25,000 range is likely to act as a resistance zone in case of a rebound. Traders should maintain a cautious stance and adjust their positions accordingly,' said Ajit Mishra, SVP-Research of Religare Broking. Market breadth was weak with 2,951 declines and 1,200 advances.
