Indore garment body to slap Rs 1 Lakh fine on sellers of China, Bangladesh clothes
Jain claimed 600 businessmen in the city have so far agreed to the resolution that they will not sell clothes made in China and Bangladesh.
IN THIS STORY#Indore#Madhya Pradesh#India-China#Bangladesh
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Economic Times
39 minutes ago
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Nuke law recast expected to cap supplier liability
Tired of too many ads? Remove Ads A More Viable Framework Tired of too many ads? Remove Ads Draft in Making India is considering a total recast of laws governing atomic energy , including the Civil Liability for Nuclear Damage (CLND) Act, said people familiar with the matter. In particular, the revamp will seek to address the open-ended liability of suppliers under the current law as the Centre seeks to rope in private aims to expand its nuclear energy capacity to 35-40 GW by 2035 and 100 GW by 2047. Policymakers are of the view that the laws require changes if the target is to be met. India currently has 22 operating reactors, with an installed capacity of 6,780 MW. 'Instead of multiple piecemeal changes, there is a thinking that the laws be rewritten completely,' said one of the persons Atomic Energy and CLND Acts were introduced in the context of a state-owned nuclear thrust. Now, however, 'The idea is to encourage private sector participation and not discourage it,' the person liability law, envisaged as a safeguard against fallout after any accident, has been a long-standing concern of potential Section 6(1) of the CLND Act caps the total liability for each nuclear incident at 300 million special drawing rights, a reserve asset defined by the International Monetary Fund and equivalent currently to Rs 3,700 6(2) sets the operator's maximum liability at Rs 1,500 suppliers' worries stem from Section 17, which allows for a potentially large liability. This states that the operator will have recourse to liability claims where 'the nuclear incident has resulted as a consequence of an act of supplier or his employee, which includes supply of equipment or material with latent defects of substandard services.'This imposes unlimited liability on a supplier, said one of the persons cited.'A supplier may be sourcing or subcontracting various inputs from other suppliers,' the person said. 'Besides, a plant has several components and so liability cannot be that of a single supplier.'According to ongoing deliberations, the liability of a supplier to a nuclear operator would be capped at a certain defined value. Some liability beyond that amount would likely be assumed by the government, said a third person.A nuclear fund could be created as proposed in the current CLND, but with a more defined contribution from the operator that could be based on each unit of power generated.'Hectic drafting exercise is on, along with discussions,' the person said. 'These would also be discussed with stakeholders before being put up for the Cabinet nod.' The government is keen to get the legislation through the Parliament in the current calendar year, he added. An inter-ministerial committee is firming up changes to the proposed recast would also take into account global best practices and conventions to which India is a signatory. While India has signed the Convention of Supplementary Compensation (CSC), it's yet to ratify the accord.
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First Post
39 minutes ago
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India to play bigger global role as world becomes multipolar: Singapore FM tells Jaishankar
India's role on the global stage is set to grow as the world becomes more multipolar, Singapore's Foreign Minister Vivian Balakrishnan said after meeting External Affairs Minister S. Jaishankar in Singapore on Sunday. read more India will have a growing global role as the world moves steadily toward a multipolar order, Singapore's Foreign Minister Vivian Balakrishnan said after talks with External Affairs Minister S Jaishankar on Sunday. During his visit to Singapore, Jaishankar also met President Tharman Shanmugaratnam and Deputy Prime Minister Gan Kim Yong. Singapore is at the heart of our Act East Policy. Always insightful to exchange views there. Great to meet FM @VivianBala this morning in Singapore. 🇮🇳 🇸🇬 — Dr. S. Jaishankar (@DrSJaishankar) July 13, 2025 STORY CONTINUES BELOW THIS AD After his meeting with Balakrishnan, Jaishankar said Singapore is central to India's Act East Policy. From Singapore, he will travel to China. A great pleasure to meet Chairman-designate of Temasek Holdings Teo Chee Hean today. Discussed the transformation underway in India and its investment opportunities. 🇮🇳 🇸🇬 — Dr. S. Jaishankar (@DrSJaishankar) July 13, 2025 India and Singapore upgraded their relationship to a comprehensive strategic partnership during Prime Minister Narendra Modi's visit last September. Balakrishnan said in a social media post, 'As the world inexorably transitions into multipolarity, India will play an increasingly important role as one of these major poles of opportunity.' Both sides agreed to hold the third India-Singapore Ministerial Roundtable in New Delhi soon. According to the External Affairs Ministry, they reviewed progress on outcomes from PM Modi's visit and the second round of the ministerial roundtable. Key focus areas in India-Singapore ties include investments, industrial parks, semiconductors, infrastructure, skill development, and connectivity. The two countries also exchanged views on ASEAN, the Indo-Pacific, and other global developments. Jaishankar also met Teo Chee Hean, former Senior Minister and Coordinating Minister for National Security, who is the chairman-designate of Temasek Holdings. After Singapore, Jaishankar will visit China for the Shanghai Cooperation Organisation (SCO) foreign ministers' meeting. It will be his first visit to China since the deadly Galwan clashes.
Time of India
41 minutes ago
- Time of India
F&O trade volumes slump nearly 20% after Sebi ban on Jane Street
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Volumes on India's thriving futures and options dropped nearly a fifth last week after Securities and Exchange Board of India's (Sebi) ban on New-York-based quantitative trading firm Jane Street for alleged market manipulation . The recovery to the recent peak in trading activity may not happen immediately, which may squeeze exchanges' earnings. The daily average turnover in index options trade on the NSE, which commands the majority in derivatives trading volumes in India, declined by nearly 17.4% last week from previous week."The recent dip in options turnover is likely due to the exit of a large market-making participant, which has impacted market liquidity and efficiency," said Vaibhav Sanghavi, CEO, ASK Hedge interim, ex-parte order probed into alleged index manipulation by Jane Street involving bank shares and Bank Nifty index futures and options, while banning it from trading in Indian market. The regulator's investigations showed the trading firm was engaged in manipulative trades on expiry days of Bank Nifty derivatives that pushed outcome in its favour. The absence of Jane Street in market has had a ripple effect with other large firms cutting the size of their the weekly options expiry day of Thursday-the most active trading day-turnover was down over 21% to about ₹472.5 lakh crore from ₹601.2 lakh crore a week ago, as per data from ETIG. Vipin Kumar, assistant vice-president of derivatives and technical research at Globe Capital Market, said during the entire expiry week (July 4 to July 10), index futures volumes were down by nearly 24% while index options volume was down by 16.5%, when compared with the entire previous expiry week (June 27 to July 3). Shares of BSE listed on the NSE, and NSE traded in unlisted market, declined in face of drop in volumes. Since Sebi put out order on July 3, NSE shares have dropped 6% to ₹2,150 as on July 13, as per data from BSE stock is down 16%. "It's too early to determine if this loss of turnover is permanent, but it will certainly impact revenues at the exchange-level if prolonged," said said volumes may have also declined as a result of lower volatility due to choppy trading since the start of July. 'The index was trading in a tight range of less than a percent and volumes are usually low during this kind of market move,' he said.'On July 11, Nifty breached that range on the downside and we recorded a sharp uptick in the volumes of index futures, stocks futures and stocks options that were up by 17%, 18% and 28%, respectively compared with the same day the previous week.'Sanghavi said that while this may reduce turnover in the short term, it also creates a more level playing field, limiting the advantage of high-frequency or algorithmic traders who typically account for 40-45% of options volume. Rajesh Palviya, head of technical and derivatives research at Axis Securities, said liquidity could improve once mutual funds launch SIFs, which could build derivative books of Rs 30,000- Rs 40,000 crore over time
