\"I think it's in the interests of both China and the United States to have some kind of successful agreement,\" Lighthizer said

The new site in Maharashtra would be at Raigad district, about 100 kms (62 milies) south of the country's financial capital Mumbai

Piyush Goyal reiterated the government's stand that India will not allow multi-brand retail by foreign companies, including a backdoor entry on the pretext of business to business (B2B) channel.

In April last year, the RBI had asked payment firms to ensure their data are stored exclusively on local servers, setting a tight six-month deadline for compliance

The UN report added that India has historically accounted for 70 to 80 per cent of inflows to the subregion. Further, the growth in cross-border M&As for India from $23 billion in 2017 to $33 billion in 2018 was primarily due to transactions in retail trade ($16 billion), which includes e-commerce, and telecommunication ($13 billion).

FDI inflows to developing countries in Asia rose by 3.9 per cent to USD 512 billion in 2018, with growth occurring mainly in China, Hong Kong, Singapore, Indonesia and other ASEAN countries, as well as India and Turkey

Doland Trump's comments came as he and Modi have agreed to meet on the sidelines of the G20 Summit in Osaka, Japan, on June 28-29

Share Market LIVE: On the sectoral front, indices trading in the green are IT, FMCG, Auto, Metal, Infra and Pharma. In declining indices, PSU bank and Media tops the list with 1.40% decline each, followed by Financial services, Energy, Bank and Realty.

Prime Minister Modi and the US President Donald Trump are scheduled to meet later this month in Osaka, Japan during the G-20 Summit

The government is looking to push the new policy to boost the adoption of EVs as it tries to bring down its oil imports and curb pollution

Policy watchers think that the US has kept its powder dry. If India does not step back now, more retaliation could follow. In fact, it could end up damaging its most successful exports story - IT and ITeS