Aiming to attract more tourists and boost trade, government today approved a new liberalised visa policy that include long-term multiple-entry comprehensive visa by merging tourist, business, medical and conference visas into one.
The UK government's changes to its visa policy for non-EU nationals aimed at curbing its soaring immigration figures will come into force from tomorrow, which will affect a large number of Indians especially IT professionals.
Eric Vas, President of Motorcycle Business at Bajaj Auto, said that post demonetisation there has been a significant decline in the sales of 2-wheelers. It was 50 percent in rural India and 25 percent in urban areas.
"A total of 1,05,268 foreign tourists arrived in October 2016 on e-tourist visa as compared to 56,477 during the month of October 2015, registering a growth of 86.4 percent," an official release said.
Under new visa rules announced last week by UK Home Office, those applying after November 24 under Tier 2 intra-company transfer category would need to meet a higher salary threshold of 30,000 pounds from 20,800 pounds earlier.
Addressing India-UK Tech Summit with May in attendance, Modi said education is vital for Indian students and will define the country's engagement in a shared future.
On being questioned if she would consider relaxing tough rules to allow more Indian nationals to work in the UK as part of a future trade deal, May said the country already has one of the best schemes in the world.
May has said she plans to use the two-day visit to try to reduce barriers to trade with India and pave the way for a post-Brexit free-trade deal, but with the Indian government keen to secure more access to Britain for students and skilled workers, visa numbers are likely to be a sticking point in any talks.
Nasscom said that the movement of tech workers should be treated as a trade priority rather than an immigration issue.
Under the new visa rules announced last evening by the UK Home Office, anyone applying after November 24 under the Tier 2 intra-company transfer (ICT) category would be required to meet a higher salary threshold requirement of 30,000 pounds from the earlier 20,800 pounds.
The Reserve Bank of India and government have asked banks to submit a detailed report on data theft which puts 3.2 million debit cards at risk, besides raising a question as to why banks failed to alert authorities when they allegedly came to know about it about 6 weeks ago.
Speaking to CNBC-TV8 AP Hota of National Payments Corporation of India said that in September a number of complaints came forth from banks indicating their customer cards were being used in China when they were in India.
A security breach in ATM provider Hitachi, giving fraudsters access to personal bank information, will see lenders replacing as many as 3.2 million debt cards, reports The Economic Times.
"Many mothers across this country are worried their kids won't find jobs, and they are right to be worried. One of the biggest threats is outsourcing jobs for college-educated kids are being sent to other countries," the 70-year-old reality TV star told his cheering supporters in Cincinnati, Ohio last night.
Out of the countries availing the e-tourist visa facility, the UK grabbed the top spot, followed by the US and China.
In an interview with CNBC-TV18's Kevin Lee, Visa Group Country Manager TR Ramachandran said that India can reduce its cost of cash to 1.3 percent of GDP by 2025 from the current 1.7 percent and save around Rs 4.7 lakh crore by shifting to more digital means of payment.
The Indian economy has a high cost of cash because of significant cost of time, effort and resources, operating and maintaining cash infrastructure, high cost of cash withdrawals, moving and managing cost, Visa said.
"The company is looking at generating transaction volume of approximately USD 10 billion in the next four years with the enhanced range of its own products and that powered by Visa," it said in a release.
As part of the strategy to boost both exports of goods and services in the long run, the ministry is working on the three important pillars -- exchange rate, visa regime and freight rates, an official said.
"The US should revisit the issue of hike in visa fee, and find appropriate alternatives to fund their (social) objectives. Also, there should be clear commitment against such discriminatory steps in future," R Chandrashekhar, President of Nasscom told PTI.
Replying to a question in Lok Sabha she said, a liberalised visa regime helps in promotion of trade in services in different modes of supply, particularly Mode 2 which includes tourism, medical value travel and education services.
The Tier 4 Visa Pilot Scheme, launched by the UK Home Office this week, is open to students from around the world who win a place at one-year Masters courses at Imperial College London, Oxford, Cambridge or Bath universities.
"Dangerous criminals, including murderers, are being released every day because their home countries will not cooperate in taking them back," Republican Senator Senate Chuck Grassley said in a letter to the Homeland Security Secretary Jeh Johnson.
Rao said margins may stay pressured in the near term and don‘t expect significant relief on margin in near-term. He also reiterated that client spend on IT is not really increasing.
UB Pravin Rao, COO, Infosys is confident on achieving FY17 revenue growth guidance of 11.5-13.5 percent for next few years.