With the Union Budget three months away, major industry chambers have submitted to the government proposals on common taxes, seeking simpler compliance and a quicker resolution of tax disputes.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
'As one of many immigrants at Nvidia, I know the opportunities we've found in America have profoundly shaped our lives.'
Businesses are testing new markets, tapping into domestic demand, and pushing the government for relief.
India's micro, small and medium enterprises (MSMEs) - which contribute over 45 per cent to outbound shipments - are facing a major disruption following the United States (US) decision to impose 50 per cent additional tariffs on the country's exports. MSME industry bodies have raised an alarm over the deep impact, seeking immediate government intervention.
Reforms in the Indian economy have brought about a change in the nature, role and functioning of industry chambers and their membership, both in terms of composition and numbers.
'Traders and exporters will have to explore alternative markets.'
India Inc, which is sitting on cash balances of 13.5 trillion, is using the funds to meet capital expenditure as well as brownfield expansion, resulting in 'anaemic' demand for bank loans, State Bank of India (SBI) chairman CS Setty said at an event on Monday. He added that a slowdown in corporate credit is mainly due to lack of demand.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
According to Khemka's family members, his son was also shot dead by criminals six years ago in Hajipur.
Not ordering disclosure of details of electoral bonds prior to April 12, 2019, was a "conscious choice" by the Constitution bench, the Supreme Court said on Monday while refusing to entertain the submissions of ASSOCHAM and CII against the disclosure of bond details on the ground of their plea not being listed.
Government employees in Bangladesh locked down the main gate of the Bangladesh Secretariat in Dhaka, protesting a new service law that allows for easier dismissal of officials for misconduct. The protest, which lasted for about half an hour, disrupted government operations. The employees also threatened to continue their protests until the ordinance was scrapped. Meanwhile, the protest by employees of the Dhaka South City Corporation, demanding the installation of BNP leader Ishraque Hossain as its mayor, has brought administrative services to a halt. These protests, coupled with concerns raised by the business community and the military, highlight a growing sense of unease in Bangladesh over the policies of the interim government.
Actor Kamal Haasan has sparked outrage in Karnataka after he said "Tamil gave birth to Kannada" at an event in Chennai. Pro-Kannada groups have staged protests across the state, demanding an apology from the actor. They have also threatened to disrupt screenings of his upcoming film "Thug Life" in Karnataka. The Karnataka Film Chamber of Commerce is also set to discuss a possible ban on the actor.
Affirmative action here refers to direct efforts to ameliorate the educational and employment situation for Scheduled Castes, Scheduled Tribes and Other Backward Classes.
Farmer representatives and agricultural stakeholders urged the government to provide cheaper long-term credit, implement lower taxes, and double the PM-KISAN income support during a comprehensive pre-budget consultation with Finance Minister Nirmala Sitharaman on Saturday. The two-hour meeting saw a detailed discussion of proposals, aimed at addressing multiple challenges in the agricultural sector, with key demands focusing on financial relief, market reforms, and strategic investments.
The Kashmir valley observed a shutdown on Wednesday in protest against a terror attack that killed at least 26 people, mostly tourists, in Pahalgam. This was the first time in 35 years that the valley observed a shutdown for a terror attack. Organisations from all walks of life supported the bandh call, including political parties, socio-religious organisations, trade bodies, and civil society groups. Security has been beefed up across the valley, especially at vital tourist spots.
Reminding the UPA-II government about the need to reverse the negative perception of a 'decision-making paralysis', industry body Assocham has made a pitch for second-generation reforms in various sectors, including finance, banking, taxation and agriculture.
India SME Forum, an organisation for small and medium businesses, has called for creating a dedicated fund of Rs 5000 crore for the export capacity development, promotion, and marketing of Micro, Small & Medium Enterprises (MSMEs) in its Budget recommendation. The forum for MSMEs with over 98,000 members said that to enhance India's global competitiveness and increase its market share in global exports, it was "crucial to increase the number of active exporters and enable at least 3-4 lakh first-time micro, small, and medium exporters while supporting them in promoting Indian products globally."
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
Early estimates by Assocham claim that the Olympic torch relay caused financial losses to industry such as airlines, railways and BPO centres. It caused trouble for long-distance travellers and patients in hospitals. The railway platforms remained heavily overcrowded as incoming passengers had no option but to stay on to railway stations due to shrinkage in exit facilities. Hospitality and industry staff night shift staff reported atleast 5 hours late because of traffic jams.
In a dramatic shift in Canada's foreign policy, Prime Minister Mark Carney on Thursday declared that the long-standing economic and security relationship between Canada and the United States has ended, responding to US President Donald Trump's announcement of new auto tariffs that could severely impact Canada's economy, Politico reported.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
It emphasised that agricultural infrastructure needs considerable investments and hence Section 80IA benefits must be extended to all such investments like IT infrastructure, computers, VSAT, solar panels, water harvesting facilities, storage etc.
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The ministry has been receiving representations from chambers of commerce and industry associations on tax-related issues and disputes that affect the industry as a whole or impact a large sections of the industry.
Eying benefits from digital banking, lenders are now looking at building Unified Recovery Interface (URI) for enhancing efficiency, reducing costs, and getting good prices for properties of defaulters. This would be managed by PSB Alliance Ltd, a company set up by all public sector banks in the country. M V Rao, chairman, Indian Banks' Association (IBA), said: "Till now we had Unified Payments Interface (UPI), a product developed by National Payments Corporation Ltd (NPCI).
The government is trying through industry chambers to get corporate world incorporate data on SC/ST recruitment, Social Justice and Empowerment Minister Mukul Wasnik told Rajya Sabha on Thursday.
Proliferation of home chargers of around 7 KWh and above, which take six to seven hours to fully charge a car depending on the model, bring running costs down by a third or so. That, coupled with the increasing range of modern electric cars, can lead to a massive increase in sales.
Country's apex business chambers -- CII, Ficci and Assocham -- have said the WTO draft on Non-Agriculture Market Access under the Doha Round of trade talks was in complete disregard to the mandate of the round, which had to revolve around lesser obligation on the developing countries for duty reduction.
Finance Minister P Chidambaram is likely to meet captains of Indian industry on June 17 so that 12 per cent growth can be achieved in the manufacturing sector.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
Subhash Dandekar, chairman emeritus of Kokuyo Camlin and the man known for bringing colours to artists as well as students in the country, passed away on Monday at 85.
The 49-year-old entrepreneur oversees the media and real estate arm of Dempo Industries as its executive director.
Hema Malini is a rare Bharatiya Janata Party star politician who has been asked to contest the 2024 Lok Sabha election for a third time.
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