India’s retail inflation (Consumer Price Index) slowed to a 19-month-low of 2.19% in December 2018 as compared to 2.33% a month ago, as food prices continued to slide. Data released by the Department of Industrial Policy and Promotion (DIPP) showed that India’s wholesale price inflation (WPI) also decelerated to an eight month low at 3.8% in December from 4.64% a month ago. Inflation has softened on the back of falling prices.
In a boost to the Make in India initiative, state-run BEML has bagged contracts worth Rs 3,015 crore for supply of 378 coaches for ADB-funded Mumbai Metro lines, the Department of Industrial Policy and Promotion (DIPP) said Friday. The contract was awarded under the Public Procurement (Preference to Make in India) Order which emphasizes on procurement from domestic sources only irrespective of the value of the purchase. DIPP had reviewed the eligibility criteria after receiving complaints from BEML about being technically disqualified.
The department of industrial policy and promotion (DIPP) has clarified that the recent changes in the FDI policy related to the ecommerce sector does not prohibit sale of private label products through the marketplace. It also reiterated that FDI is not permitted in inventory based model of ecommerce, which amounts to multi-brand retail. Confusion prevailed around the Press Note released in December which restricted an entity, having equity holding by ecommerce firm, from selling its products on the platform run by such ecommerce firm. Private labels constitute atleast 15% of total revenues for ecommerce players like Flipkart and Amazon.