Top headlines: Govt approves PLI scheme, Amazon asks Sebi to probe Future

Amazon argues it had a 2019 agreement with Future which prevented the Indian group's retail assets from being sold to certain parties
The union cabinet approved a proposal to provide production-linked incentives of about Rs 1.46 trillion ($20 billion) over five years to create jobs and boost manufacturing in the country. Amazon has asked India's market regulator to investigate Future Retail Ltd for insider trading, as it seeks to prevent its business partner from becoming part of rival Reliance's empire. Details follow.

India unveils Rs 1.46-trn incentive program to lure global manufacturers

India approved an incentive program worth Rs 1.46 trillion ($20 billion) to attract companies to set up manufacturing in the South Asian nation, Finance Minister Nirmala Sitharaman said. The government will offer production-linked incentives to 10 sectors including automobile, solar panel and specialty-steel makers over a five-year period, she said after a meeting of a ministerial panel on Wednesday. Textile units, food processing plants and specialized pharmaceutical product makers are also eligible for the incentives. Read More...

Amazon accuses Future Retail of insider trading, asks Sebi to investigate

Amazon.com Inc has asked India's market regulator to investigate Future Retail Ltd for insider trading, a letter seen by Reuters showed, as it seeks to prevent its business partner from becoming part of rival Reliance's empire. The U.S. giant has been pressing the Securities and Exchange Board of India (Sebi) to review Reliance's August deal to buy retail, logistics and other assets from Future Group for $3.4 billion including debt. Read More...

Digital news portals, OTT platforms like Netflix now under govt regulation

Digital current affairs and news portals along with online content providers such as Netflix and Hotstar have been brought under the Ministry of Information and Broadcasting, the Central government said in an order. Presently, India does not have an autonomous body that governs online content. The notification, which was signed by President Ram Nath Kovind, detailed that films, audio-visual programmes, news and current affairs content online platforms be brought under the ministry of information and broadcasting, presently headed by Prakash Javadekar. Read More...

Arnab Goswami gets bail, Supreme Court says 'can't deny' personal liberty

The Supreme Court on Wednesday granted bail to TV journalist Arnab Goswami in a 2018 abetment to suicide case. Goswami, editor of Republic TV, and two others were arrested last week in connection with the suicide of architect Anvay Naik and his mother. A two-judge bench of Justices DY Chandrachud and Indira Banerjee pulled up the Maharashtra government over Goswami's arrest as they heard the petition through video conferencing, reported NDTV.com. Read More...

Interim trial results show Sputnik V Covid-19 vaccine 92% effective: Russia

Russia’s Sputnik V vaccine is 92% effective at protecting people from COVID-19 according to interim trial results, the country’s sovereign wealth fund said on Wednesday, as Moscow rushes to keep pace with Western drugmakers in the race for a shot. The initial results are the second to be published from a late-stage human trial of a vaccine that could halt a pandemic that has killed more than 1.2 million people and ravaged the global economy. Read More...


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