Expressing dissatisfaction over the RBI decision to keep interest rates unchanged, India Inc today said rate cuts were needed to make the industry invest more and drive economic growth.
India Inc on Tuesday described the United States President Barack Obama's announcement to punish American firms by levying high taxes on their outsourcing business as 'protectionist' and a retrograde measure that, it said, will hurt the US companies.
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
India Inc's hiring activity was up 17 per cent in February with telecom and auto sectors leading the rebound, a report by leading job portal Naukri.com said.
Finance Minister Nirmala Sitharaman on Friday asked private sector companies to clear dues to small businesses within 45 days and admitted that the central departments and enterprises are also not making payments to them on time. She conceded that the Centre, states and state-owned enterprises too have outstanding dues to micro, small and medium enterprises (MSMEs). The minister said that at a meeting with big businesses here two days ago, she had appealed to them to ensure that the dues of small businesses, who are the backbone of the economy, are cleared on time.
India Inc on Monday expressed optimism that the Congress-led government at the Centre would carry forward the reforms, and the stock market crash was a result of "complete nervousness" among investors, which would recede after the Common Minimum Prog
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
Index measuring this at six-quarter high; however, economic & political volatility a concern.
'We emphasise the importance of not basing investment decisions solely on electoral outcomes.' 'Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.'
Budget would have cascading impact on inflation and consumer demand.
Prices of key inputs up 44% to 74%; analysts expect earnings squeeze after a quarter or two.
Mark-to-market losses, oil & gas companies drag profits; sales growth moderates
An analysis of 989 companies that account for 52 per cent of the total market capitalisation on the Bombay Stock Exchange shows net profit growth of 2.7 per cent over the previous year was reported mainly due to strong profit numbers registered by players in banking, cement, information technology, pharmaceuticals and fast moving consumer goods.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
Seeking to cut costs in the wake of the current economic scenario, India Inc is increasingly adopting a differential salary structure based on performance and is also trying to attract the employees with intangible benefits like a favourable work environment, a new study says.
High interest rates have been discouraging fresh investments and dragged industrial production down for nearly two years now.
Exit polls have a way of going horribly wrong, as they did in 2004. And India Inc is hoping it stays that way this time, too. That's because industry is concerned that the fractured verdict predicted by various media channels on Thursday would mean continued uncertainty on the economic policy initiatives that need to be taken up on a war-footing.
India Inc expects huge business opportunities to open up with the Nuclear Supplier's Group sanctioning an India specific waiver on Saturday.
India Inc's hiring activity picked up by 1.3 per cent in July with improvement in recruitment in IT, real estate and retail sectors, says a survey by job portal Naukri.com.
"The package addresses a wide range and should hopefully give boost to the slowing economy," said Amit Mitra, secretary general, FICCI. The chamber expected the government to review the impact of these measures and fine tune policies on a continuous basis. "We further hope that these measures would be followed by a series of measures as we go along and as the situation demands."
RBI has cut the rates thrice so far in 2015 by 25 bps each.
Global slowdown has dampened hiring prospects of India Inc, causing its outlook to hit the lowest ebb, with only 19 per cent employers having positive recruitment plans in the next three months, according to global staffing services firm Manpower.
Unperturbed by the change of guard at the Centre, India Inc on Thursday exuded confidence that economic reforms would continue to be the focal point of the new government even as it emphasised on stability.\n\n\n\n
Leading political rallies or taking charge in boardrooms, the next-gen woman is taking it all in her stride.
The earlier government was blamed for non-performance, the current one will be rightfully blamed for mismanagement
Net profit of FMCG, IT and pharma firms was up 33 per cent in the third quarter, accounting for nearly half of India Inc's profits ex-financials and oil.
India Inc's investment spirit is down. A majority of leading CEOs expect domestic investments and money infusion abroad by Indian companies to grow by less than 10 per cent or to decline during 2012, in view of the current economic slowdown.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
A survey of CEOs shows corporate India is unsure about the party's ideology, with some feeling its left-of-the-centre politics can be detrimental in the long run.
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