Exporters, facing slump in demand in the major markets of the US and EU, are expecting incentives in the foreign trade policy, to be unveiled in the second half of the month. The FTP broadly spells out the segments of priority in external trade and also gives incentives and disincentives, depending on the country's needs.
Among Indian IT outsourcing companies, Wipro is the first company to give a flat to 2 per cent growth expectation for the July-September 2009 (third) quarter. Joint CEOs Girish Paranjpe and Suresh Vaswani spoke to Bibhu Ranjan Mishra on the company's growth path.
Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
Wipro's scrip jumped 2.97 per cent to Rs 468.50 on the NSE.
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
Prime Minister Manmohan Singh is likely to discuss the impact of global demand contraction on Indian economy with industry leaders in New Delhi on Saturday, ahead of the G-20 summit in London next week.
It is understood that the company is hiring more local people in overseas markets for front-end sales and support roles. It is having more locals as client managers in key areas like the US and Europe.
"We see that as a next emerging opportunity. We are positioning ourselves very strongly," Wipro chairman Azim Premji told reporters in Bangalore. He noted the IT sector, whose size was small 20 years ago, had grown substantially and constituted some 27 per cent of the country's exports and some 4-5 per cent of its GDP, indicating that green technologies holds similar business potential.
The investors, which include ICICI Venture, Azim Premji and ICICI Prudential, say that they do not hold more than 38 per cent in the retail company and do not have the requisite shareholding to amend the articles. ICICI Venture, which alone holds 23 per cent stake in Subhiksha, had earlier rubbished claims made by Subramanian that the private equity company 'controls' Subhiksha by virtue of its right to appoint a majority of the directors in the company.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
India's third largest software company Wipro on Thursday said they are hopeful of some signs of recovery in the second half for the IT outsourcing services sector.
It looks like IBM is betting on Vaswani to replicate the success he had with Dell
'The stimulus message was tagged on to what was meant to be an exhortation to self-reliance, glossing over the near impossibility of merging the immediate requirement of relief for a huge population and a questionable strategy for the future trajectory of a large economy aspiring to superstardom,' points out Shreekant Sambrani.
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Business leaders met Manmohan Singh to discuss the problems facing the country.
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
ICICI Venture, which owns a 23 per cent stake in the beleaguered Subhiksha Trading Services, said its hands "are tied'' as the majority owner and founder of the retail chain, R Subramanian, kept all investors in the dark on the troubles of the company and failed to submit audited financial details.
The movie's crowd-puller tagline, obviously, is that the 'Chennai 600028' team is back -- but at what cost?
It had reorganised its India business by carving out public sector undertaking and government businesses. Besides the company had also split its India and West Asia businesses.
Forbes said Prime Minister Narendra Modi's "economic experiments" barely affected India's billionaires while none gained more than oil-and-gas tycoon Mukesh Ambani, who cemented his decade-long hold on the top slot by adding a staggering USD 15.3 billion (67 per cent) to his last year's wealth to become one of Asia's top five richest.
The cumulative market value of the companies belonging to the groups led by the five wealthiest of the country Ambani siblings Mukesh and Anil, real estate magnate Kushal Pal Singh, software czar Azim Premji and telecom tycoon Sunil Mittal -- today fell to about Rs 8.5 trillion.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
VG Siddhartha's story 'will be a good case study and not a deterrent to those who want to be entrepreneurs. I don't think it will scare young entrepreneurs. I think these cases will make them sensible. They will understand that they have to be very careful about certain things, otherwise, they will have to pay a heavy price.'
Wipro chief Azim Premji and veteran actor A K Hangal are among the 10 senior citizens who will receive the Harmony Silver Award this year for their contribution to society.
PGDIE, NITIE, Mumbai, invites students and working professionals for Lakshya, a corporate and B-school students' event.
Firms in which IP is critical, such as pharma and research and knowledge-based organisations, were taking the lead in seeking cyber covers to protect their computer systems from hack attacks
Out of the world's 10 wealthiest CEOs, four positions have been grabbed by Indians -- Lakshmi Mittal is ranked at the second place followed by Mukesh Ambani (6th place), Anil Ambani (7th) and Wipro chief Azim Premji (9th). The list has been topped by Warren Buffet, the chief executive of Berkshire Hathaway with a fortune of $52 billion.
The stock market rout has caused the country's five richest, led by Reliance Industries Chairman Mukesh Ambani, to lose more than $10 billion in just about a fortnight.
IT stocks have dropped about 3 per cent in the days since the Donald Trump administration took first steps toward visa reform and all of India's highest-profile technology tycoons have seen their net worth eroded. Saritha Rai reports.
Industry asked the government to be 'brave and bold' and said that it will rise to the occasion.
These institutes, while expensive, are a viable alternative to studying abroad.
Leading industrialists met with Prime Minister Manmohan Singh (not in picture) in New Delhi on Thursday to discuss the general state of the Indian economy and other industry-related matters.
On February 11, 2009, Subhiksha announced that it was closing down all its 1,600 outlets till May 2009.
Wipro is planning to integrate all its quality achievements under the 'Wipro Way' -- a system that was envisaged by founder chairman Azim Premji about nine months back. This will help the company take all its quality initiatives to the next level.
Software major Infosys on Thursday committed Rs 1,250 crore (Rs 12.5 billion) to expand operations in Chennai.
The net worth of the five richest - Mukesh and Anil Ambani, KP Singh, Sunil Mittal and Azim Premji - on Monday plunged by Rs 11,015 crore (Rs 110.15 billion), taking their total loss to about Rs 67,200 crore (close to $17 billion) since October 17, when the meltdown began on the bourses.
The CII delegation includes many eminent names.
M E Meeran, a former wholesale dealer in provisions, is conquering the world with his Eastern brand of spices and curry powders.
Azim Premji-led Wipro Ltd on Friday said it will acquire 100 per cent stake in Singapore-based Unza Holdings Ltd in an all cash deal worth Rs 1,010.2 crore (Rs 10.102 billion or $246 million).
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