Following in Apple's footsteps, Alphabet - Google's parent company - is in advanced talks with Foxconn to manufacture Pixel smartphones in Tamil Nadu, an industrial state which will also double up as drone-manufacturing hub for the US tech giant soon. According to a state government release, officials from Google will soon visit Chennai to meet Tamil Nadu Chief Minister MK Stalin to hold discussion on manufacturing of Google Pixel near Chennai.
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
Mauritius-based Hinduja group firm IndusInd International Holdings (IIHL) has informed the administrator of Reliance Capital that it is ready with its equity contribution of Rs 2,750 crore in cash to acquire the bankrupt firm, but it wants certain conditions to be met in accordance with the resolution plan before transferring the amount. IIHL has also filed an application with the Mumbai Bench of the National Company Law Tribunal (NCLT), seeking directions for the administrator and the committee of creditors (CoC) to complete all pending activities to close the transaction and not let the lenders invoke the bank guarantees provided by the firm earlier.
Grameen Bank managing director Muhammad Yunus has asserted that India is well positioned to tap the huge potential for growth of social business within its existing legal and regulatory framework.
About 1.2 trillion tax evasion cases have been detected and as many as 59,000 entities identified for verification in order to ascertain whether they are fake.
'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.'
In 2025, India's tech job market is thriving, with tech professionals seeing a 9.5% salary increase and roles like AI/ML architects earning up to Rs 95 lakh annually.
'Despite the animosity shown by some of the investors in pursuing uncalled for legal actions, we continue to show good faith towards all our shareholders.'
BPL Mobile is exploring options to hive off its tower business into a separate company and is embarking on a capacity addition initiative
Auto manufacturers have focused on launching CNG variants of their popular models to meet consumer demand for vehicles with lower running costs.
Sebi's mandate restraining mutual funds, stock brokers, and other intermediaries from associating with finfluencers who do not come under the Sebi ambit will impact the earnings of finfluencers through sponsorships, tie-ups, or referral links, as these may dry up due to the restrictions.
With November 22, 23 and 24 being among the most auspicious dates for marriage this year, hotels across the country are all booked, as are wedding-related ancillary services.
India has covered enough population with vaccine and infection, but protein vaccines should remain available on payment basis for elderly and those with comorbidities.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
Indian consumers are likely to get respite from rising prices just before the festival season. Some consumer companies, including automakers, have indicated that they are planning to pause price hikes just before demand picks up in August, while keeping a close eye on volatile raw material prices.
Sources close to the development told Business Standard the company was exploring different ways to save on its employee costs and had laid off a few employees on "performance" grounds. "We will see a similar development for the next few months. "The company is fine-tuning its hiring policies and implement rigourous measures to look into employee performance," a source said.
'In the case of corporate credit, especially to AAA borrowers, lenders will have to take a fresh look at pricing.'
'Investors should consider small and midcaps only if they can handle volatility and have a longer investment horizon.'
'Barring a temporary blip where stocks fell on verdict day, we are back to all-time highs.'
Implications for capital gains, wealth taxes, and investment strategies require careful consideration, notes Anil Rego, founder and CEO, RightHorizons.
'In life insurance, it is about creating distribution capacity and solutions for customers. We are constantly working on that.'
'One of the aspects for transparency and fair governance is to give the industry being represented the chance of lobbying with the regulator.'
Following the Reserve Bank of India's (RBI's) action against Paytm Payments Bank, participants in the fintech ecosystem have turned their attention to giving priority to compliance with regulatory norms. Fintech industry players say the episode will ensure adherence to such measures. Executives Business Standard spoke to said companies should have clarity on their requirements.
Provisions in the Central GST Act say reduction in GST rates or the benefit of ITC must be passed on to consumers.
'It is our duty to keep space sustainable and free of debris.'
'Both campuses and talent should brace for a low-velocity campus hiring season that might extend into the off-campus period.'
A host of IT players like HP, Wipro and HCL have set up their units in the state.
'It is not that employee work is not happening if you don't see it.'
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
This will be a measure to provide start-up entrepreneurs and professionals the much-needed flexibility in setting up a business in India.
Let's take a look at best brands in the world, including five from India.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
HUL and Genpact aim to enable these businesses to eventually get absorbed into the supply chains of large consumer companies, including that of HUL. In 2021, the maker of Sunsilk shampoos committed to spending Rs 2,000 crore annually with diverse businesses by 2025, Ansu Archana, procurement director, beauty & wellbeing, HUL, told Business Standard. Archana added that the program aligns with Unilever's wide-ranging set of commitments and actions to help build a more equitable and inclusive society.
'After Diwali, I don't see this trend of re-releases going forward. We won't have that window to re-release films because of the kind of movies that are slated to be released.'
'...you evaluate three key factors before committing your money.'
'The Indian economy is expected to grow in terms of per capita income and GDP, and with that, the luxury segment becomes more relevant.'
'It leads to more investment, more money put in R&D, expansion and modernisation.'
Flipkart, the poster boy of Indian e-commerce, hit a new high by raising $1 billion (about Rs 6,000 crore) in the latest funding round, led by existing investors Tiger Global Management and Naspers.
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