Dismayed by the BJP's decision to say no to FDI in multi-brand retail in its election manifesto, India Inc has urged the party to reconsider its stand, saying the move may send a wrong signal to overseas investors.
India's unemployment rose to a three-month high in March to 7.8 per cent as the country's labour markets deteriorated, according to data from the Centre for Monitoring Indian Economy (CMIE). Unemployment rate in the country surged in December 2022 to 8.30 per cent but declined in January to 7.14 per cent. It edged up again in February to 7.45 per cent, the CMIE data released on Saturday showed. During March, the unemployment rate in urban areas was at 8.4 per cent while in the rural areas it was at 7.5 per cent.
Pitching for a non-adversarial tax environment, India Inc on Tuesday suggested reduction in tax rates on corporate as well as individuals to boost economic growth.
Sitharaman said, public private partnership to be unleased to develop rail infrastructure.
Between 2007-08 and 2017-18, the number of countries they imported steam coal from has increased from six to 12.
Industry is displeased over the failure of the National Manufacturing Policy, which has failed to invite any sizeable investment since it was launched more than two years ago.
The Parsi community runs India's respected corporate houses like the Tata, Wadia and Godrej groups.
Worried over the fallout of the Supreme Court's observations on allocation of coal blocks, India Inc wants the apex court to consider a reprieve for those allotted to genuine companies that have invested billions.
India seeks greater market access for its products including textiles, pharmaceuticals and bovine meat.
Expressing disappointment over the contraction in industrial growth in October, India Inc has appealed to the Reserve Bank to cut interest rates to revive the manufacturing sector and ameliorate investments.
Many members of ministry panel give dissent note on clause; no clarity yet on whether it will apply to existing shares or new ones.
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.
India Ic has pulled up its socks to perform even better in FY16.
Sitharaman said the Bill has proposed giving a legal framework for fixed-term employment through which contract workers serving a fixed-tenure will get equal statutory social security benefits as regular workers in the same unit.
The Salary Budget Planning report released by Willis Towers Watson said the median salary increase at the executive level for 2020 is projected at 10.1%, an increase from 9.6 per cent in the previous year.
Most of the hirings are, however, in the entry or junior level.
Around 41 per cent of these companies saw such instances, compared to the global average of 29 per cent. India's number is higher than other countries such as the United States (26 per cent), the United Kingdom (32 per cent) and Japan (27 per cent). It is also worse than other emerging markets. China had 39 per cent of firms affected by data theft. It was 19 per cent and 16 per cent for Brazil and Russia, respectively.
Companies feel higher rates in India would not be justified.
Domestic new-age companies are making their presence felt at India Inc. According to a study done by Credit Suisse, only 15 per cent of the companies in the BSE500 index were formed after the year 2000. By comparison, nearly 90 per cent of unicorns - a start-up with a value of over $1 billion - were set up after 2000.
Take part in the growth story, Amit A Shah tells Corporate India.
Over 900 listed firms yet to comply with new Sebi requirement due in less than 90 days
Corporate legal cases kept India Inc on its toes in 2014 as high stake matters on coal, telecom and mining came up in the Supreme Court, which also sent Sahara Group chief Subrata Roy to jail.
Firms to find alternative export routes or face increased trade barriers
She will return home with the Mrs World crown after 21 years.
RBI had previously cut repo rate by 0.25 per cent each in January and March.
India has historically not had a strong compliance mechanism around insider trading. This is in stark contrast to developed countries.
Salaries in India are expected to increase by 10.3 per cent in 2023, highest among major world economies and Asian peers, according to Aon plc. In 2022, salaries in India witnessed an actual increase of 10.6 per cent in 2022. As per Aon plc's 28th Annual Salary Increase Survey in India, double-digit salary growth will continue in India despite economic volatility, largely as a response to high attrition rates.
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.
Most analysts expect growth in the sales of Nifty-50 companies to decelerate, albeit marginally, in the quarter ended December compared to the corresponding period of 2013-14, with metals and real estate companies pulling down earnings.
Combined net profit of BSE500 companies at $ 63 bn is 2.3% of GDP; global average is 5%.
The meeting will focus on how to make the crisis an opportunity for India.
For the traditionalists, wars on Twitter and Facebook smack of immaturity.
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Raghuram Rajan, who took over as RBI Governor on September 4, is scheduled to unveil on Friday mid-quarter monetary policy review, an event keenly awaited by industry and banks.
Despite markets turning volatile, share sale activity at India Inc has surged to its highest level in five months. So far in March, promoters, strategic investors and other large shareholders have been able to offload shares worth more than Rs 33,000 crore-the most since November-defying uncertain market conditions. Both the Sensex and the Nifty are on course to post their fourth straight monthly loss amid headwinds, such as interest rate tightening by the US Federal Reserve and the global banking crisis.
Eight of the 30 companies in the BSE Sensex that shared data reported 99 fatalities in 2016-17 against 86 in the previous year. These lives were lost due to industrial accidents at manufacturing facilities. Fatalities owing to road accidents were excluded from the count.
His exit has created a benchmark of sorts for how entrepreneurs and businesses should deal with debt crises. Unlike many other Indian businessmen, he hasn't fled, tried to hang on to the business by any means or wrangle out of the debt by using his closeness to the current government. It is so very rare for Indian media businesses to grow out of their founding family's shadow, however, benevolent it may be.
If Reliance has to pay about one percentage point more for short-term money, the bond market could be out of bounds for many lower-rated firms after some time.
Expressing serious concern over contraction in industrial output in November, India Inc called for immediate policy interventions, including a rate cut by RBI, to prevent job losses and boost demand.
The new restriction will be challenging for businesses, as they will have to do regular follow-ups with their suppliers.
'The Modi government needs some big private sector trophies to affirm its anti-corruption credentials before the polls.' 'So on whose neck will the sword fall next?' 'To that extent, the outing of the ICICI Bank-Videocon story is cathartic,' says Shekhar Gupta.
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