'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
Corporate India handed over an average increment of 8 per cent in 2021, and early estimates reveal that average increment for 2022 is expected to increase to 8.6 per cent in line with a healing economy and improving confidence, according to a Deloitte survey. As per the second phase of Deloitte's Workforce and Increment Trends survey 2021, 92 per cent companies gave an increment in 2021 at an average of 8 per cent, compared with only 4.4 per cent in 2020, where just 60 per cent companies had extended a pay hike. For 2022, average increment is expected to increase to 8.6 per cent, at par with the pre-pandemic levels of 2019, the survey said, adding that about 25 per cent companies surveyed have projected a double-digit increment for 2022.
While companies have not launched too many products in rural areas of late, easy financing has helped push up demand.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
Companies are worried that any staggered roll-out of GST could result in cash flow issues with businesses not able claim tax credit due to breakage in the chain
Meta Platforms Inc, the parent company of WhatsApp, will partner with Reliance JioMart for a service where WhatsApp users can buy groceries on the messaging platform from the Indian retail firm. Mark Zuckerberg, chief executive officer (CEO) of Meta Platforms, said in a Facebook post, "[I am] Excited to launch our partnership with JioMart in India. "This is our first-ever end-to-end shopping experience on WhatsApp--people can now buy groceries from JioMart right in a chat." "Business messaging is an area with real momentum and chat-based experiences like this will be the go-to way people and businesses communicate in the years to come," he said in an announcement coinciding with the annual general Meeting (AGM) of Reliance Industries the parent company of JioMart.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Businesses across the world consider efficient delivery of shipments to be a growth driver, and IoT-based start-up Roambee fills this need with real-time reports to businesses using tracking data.
The users of 5G-enabled Apple iPhones will be able to try 5G telecom services - wherever available publicly in the country - from next week, both on standalone (Reliance Jio) and non-standalone networks (Bharti Airtel). Airtel and Jio customers who download the iOS 16 Beta software update as part of its 'Apple Beta Software Program' can try the service and send their feedback to the company. The final updated software will become available sometime in December.
Apple Inc has rolled out a beta programme to enable 5G on Apple devices as the upgrade lets users try out pre-release software. This software upgrade enables 5G access on Apple devices, as and when service providers Jio, Airtel and Vodafone enable 5G network access, sources said. Apple users have to enrol for the beta programme on the website, install a profile and download the software.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country's largest bank, Dinesh Khara's annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals - most pocketed in excess of Rs 7 crore annually - plus stock options.
A symbol of self-reliance, India's space endeavours are a model for public-private partnership.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
India Inc is facing threat from non-traditional sources.
The BCCI will float tenders for IPL's media rights for the 2023-27 cycle as early as the coming week and complete the e-auction in two months.
While the market regulator's recent note on portfolio management schemes has kicked up a storm, that is not the only pain point for businesses, says N Sundaresha Subramanian.
How many of the apps downloaded in India deliver the GPT technology they say they are?
Budget in the medium term aims to kick-start the investment cycle.
Apple's newest phone iPhone 14 will be made in India as the global tech titan bets big on the manufacturing prowess of the world's second-biggest smartphone market after China.
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Arvind Kumar Sharma, a 1988-batch IAS officer and one of the many joint secretaries in PMO, definitely wields some power.
Apple had on June 20 issued a notice on its website regarding the risk posed by the models of the MacBook Pro laptops.
These could include strengthening the public-private partnership (PPP) dispute resolution mechanism, uniform PPP institutional framework, easier terms for infrastructure companies accessing bond markets, and tax sops, Business Standard has learnt. Investment in infrastructure projects with high multiplier effect has been the Centre's main plank to revive the economy, create employment and boost consumption.
India Inc is encouraged by a determined Budget.
An extraordinarily good monsoon has left farmers with extra money in their pockets.
In a major push towards 'Make in India', Apple Inc is manufacturing 70 per cent of the mobile phones, in value terms, that it sells in the domestic market, in India, according to sources aware of the development. This is a sharp rise from the figure of 30 per cent just two years ago and marks a major shift in Apple's strategy following the government's Production Linked Incentive (PLI) scheme that kicked off in FY'21. One of Apple's three vendors here, Foxconn, is currently manufacturing the best-selling model, the Apple 11, along with the Apple 10 and the Apple 12. Another contract manufacturer, Wistron, makes the Apple SE 2020. (The third, Pegatron, has yet to start production). The only models that are imported (they have limited volumes but high value) are the Apple 12 Pro and Pro Max.
By 2025, Uber projects that 25,000-30,000 cars -- or 12 to 16 per cent of vehicle additions -- would be EVs, reports Surajeet Das Gupta.
As promised, Domino's 20-minute delivery started across 170 stores in Bengaluru on Tuesday. But, as the day progressed, some teething issues came to the fore. If delivery partners' accounts are anything to go by, these are unlikely to go away anytime soon.
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
iPhone SE 2020 is one of the popular phones like Apple 11, which is the biggest seller in the domestic market.
A GST roll-out by April 1 looks difficult, giving the companies some succour.
Hiring activity witnessed a 6 per cent year-on-year growth in March this year, supported by a rebound in economic activities and led by sectors such as banking and telecom, according to a report. However, there was a marginal dip of 2.4 per cent in hiring activity as compared to February, owing to the appraisal season, according to the Monster Employment Index (MEI). "Two years into the pandemic, it is heartening to see that the Indian economy has overcome setbacks and challenges with hiring momentum exceeding pre-COVID levels by 6 per cent this year compared to 2020," Monster.com, a Quess company, CEO Sekhar Garisa noted.
Apple Inc's leading contract manufacturer, Taiwanese giant Wistron, has exceeded its investment obligation in India in just eight months, although the government's production-linked investment (PLI) scheme allowed it to complete the investment in four years. Between August 2020 and end March 2021, Wistron made an investment of Rs 1255 crore - 25 per cent more than the total investment it had committed to the government. Under the PLI scheme for mobile devices, the government had stipulated that each of the five participating global companies needed to invest Rs 250 crore every year for the first four years, totalling Rs 1,000 crore.
Business reacted with caution to the reforms of 1991, and demanded protection from multinationals and imports. Twenty-five years later, traces of that demand can still be found, reports Bhupesh Bhandari.
Home-grown companies, including electronics manufacturing services (EMS) firm Dixon Technologies and mobile device maker Lava International, have started exploratory talks with Chinese sub-assemblies and component players for setting up joint ventures (JVs) in the country. Sources in the industry say many domestic companies have also had preliminary discussions with original design manufacturers (ODMs) in China to look at a JV model for manufacturing smartphones. Key ODM players in mobile devices in China include Longcheer, Huaqin, and Wingtech, which has already set up a plant in Tirupati.
Neymar's spokeswoman said the athlete would vigorously defend himself if any claim is presented, describing the allegations as baseless and adding that the endorsement deal ended for commercial reasons.
Austerity, and not necessity, appears to be the mother of invention these days with the economic slowdown forcing companies to explore new ways of doing businesses.
Palo Alto-based electric carmaker Tesla has initiated talks with the government on the modalities of setting up fully-owned retail outlets. The company needs to comply with the foreign direct investment (FDI) guidelines related to single-brand retail, including local sourcing norms, to sell directly in India. At least two other foreign majors - Apple and Ikea - were engaged in talks with the government long before the sourcing norms were eased under the single-brand retail route.
Nobel Laureate Muhammad Yunus asked the Indian industry on Tuesday to get into micro-finance activities and the government to enable a legal framework for promotion of 'social business' in the country.
