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.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
83% of the CEOS plan to hire more in the new year.
India Inc (excluding trading and financial services companies) was sitting on a cash mountain of Rs 456,700 crore (Rs 4,567 billion) as on September 30, up 21 per cent from the same time a year before.
'Instead of making this a four-year phenomenon, when you look at us and get thrilled, do it more regularly.'
'India has a skill shortage of 56%.' 'This is a very interesting paradox -- the unemployment rate is 6% to 7%, and at the same time 20% of those qualified are unemployed.'
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 slowdown is showing on the balance-sheet. During the quarter ended March 2008, India Inc reported the lowest net profit growth in the last nine quarters, after the state-owned oil marketing and power companies declared poor results.
India Inc has suffered a massive loss of over Rs 43,000 crore (Rs 430 billion), in the recently concluded financial year due to non-availability and mismanagement of power, a study says.
Prime Minister Narendra Modi on Friday said both public and private sectors need to leverage synergies and think out of the box to seize opportunities arising as a result of the emerging global environment. While interacting with noted economists and experts at NITI Aayog ahead of the Union Budget, the prime minister also applauded the success of the India Digital story and the rapid adoption of fintech across the country, an official statement said. During the meeting, economists offered suggestions on ways in which India can sustain its development momentum, it added.
A vast majority of the business leaders believe that the Production Linked Incentive (PLI) schemes have been beneficial and expect an extension to other sectors in the coming years, a Deloitte Survey said on Friday. An overwhelming number of survey respondents hope the budget will fuel growth across industries by building strong domestic demand and focussing on capital expenditure and believe that it would define the 'Amrit Kaal'. "Critical to this growth will be the pace of capital expenditure, infrastructure development, and the need to boost infrastructure financing through private partnership. 60 per cent of respondents suggested raising funds through Indian Government Bonds," the survey said.
Volatility in local share markets have hit India Inc's equity fund-raising plans, with the total deal value this year set to fall below the level seen in 2008.
Stocks such as NIIT, Punj Lloyd, Gati, Welspun India and BEML are favourites of the trading community.
Most expect a 25 bps rate hike today, but want pause.
Industry chamber Ficci said, Japan as a nation would overcome the calamity to reassure its place in the comity of most prominent economies of the world.
India Inc has lost all the gains of the current fiscal in its market value with a depreciation of close to Rs 2 trillion (about $50 billion) on Monday amid a fall of over 500 points in the benchmark Sensex in less than six hours of the day's trading.
Industry sources told India Abroad they wouldn't shed any tears if the legislation died in the House.
The database of 194 companies has shown a revenue contraction of 2.6%.
In the backdrop of cement players refusing to cut prices, Finance Minister P Chidambaram on Saturday asked India Inc to look beyond their balance-sheets and play a role in helping the government ensure macro economic stability.
Indian companies raised over $3.41 billion overseas in December through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), the Reserve Bank of India (RBI) has said.
Declining value of the rupee, widening Current Account Deficit (CAD) and the impact of likely tapering of US bond purchases are some of the key issues which will keep Raghuram Rajan busy.
"A committee is working on it. We have also asked the MCA (Ministry of Corporate Affairs) to broaden the scope of section 55 of Companies Act 1956 which is now clause 22 of Companies Bill," SEBI Executive Director Usha Narayanan said at an Assocham event in New Delhi.
"We created a sense of a team, not individuals. We designed team measurable and not individual measurable. At the end of the day, we created a happy environment," said Gary Kirsten, coach of the World Cup-winning Indian cricket team.
Finance Minister P Chidambaram announced the Union Budget 2013-14 in Parliament on Thursday.
India Inc's hiring activity witnessed a marginal decline in the month of April, owing to the ongoing appraisal season, but overall industries are upbeat about their hiring sentiment and 2011 is expected to be a landmark year for job creation, job portal Naukri.Com says.
India Inc's order-books swelled to Rs 37,666 crore (Rs 376.66 billion) in the first quarter of the financial year 2008-2009, up 93 per cent from Rs 19,520 crore (Rs 195.2 billion) for the same period last year. In the fourth quarter of 2007-08, the order-book had increased by 121 per cent to Rs 42,545 crore
The first such interaction would be in Mumbai on Monday.
Coal, land, insurance bills are cited as govt's commitment to reforms.
A survey showed as much as 95 per cent of CEOs and MDs were against Sebi's mandatory guidelines the company's to declare their quarterly performance, Assocham said in a statement.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
India Inc on Tuesday welcomed the 0.25 per cent interest rate cut by the Reserve Bank saying it would help revive confidence of industry and hoped for further cuts in the coming days.
Even the best of government policies rarely satisfy the corporate sector. So, it is perhaps surprising that the year 2006 saw a scheme over which all business houses -- big and small alike -- were falling head over heels.
With the exception of infra, IT & ITes - the employment outlook seems flat across sectors.
