Indian companies' market capitalization has grown at the fastest pace last year among major economies despite contraction in GDP, economists from SBI said, flagging the risks to financial stability it poses. Further, retail investors have shown higher interest in markets and their numbers have increased by 1.42 crore in FY21 and another 44 lakh in April and May, they said in a note, wondering if this will be a lasting behavioural change or is transitory. The economists at the country's largest lender attributed the growth in equity markets to lower returns on other financial instruments amid a low rates regime, increase in global liquidity, and even a tendency to spend more time at home because of mobility restrictions which led many to trade more.
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.
As expected, the Internet search engine giant, Google on Tuesday announced its decision to stop censoring search results on its sites in China charging that Beijing is limiting free speech on the Internet.
The earlier government was blamed for non-performance, the current one will be rightfully blamed for mismanagement
Average global growth prospects for the next 12 months and the next three years are 35 per cent and 49 per cent, respectively.
The government gave clearance to five global and five Indian players that have made a commitment to a production value of 12.5-trillion phones in five years under the Production Linked Incentive scheme.
Foxconn Technology Group will invest $210 million to build an Apple production line in October in east China's Jiangsu province, local officials said.
'We failed as a country because those who should have been there to say goodbye did not show up.'
"Indian business is ready to face the brave new world of globalisation. China is an important part of that brave new world. We must engage China and learn to both compete and cooperate," Singh, who began a three-day maiden visit here, said at a brainstorming session with the business delegation accompanying him, ahead of the Sino-Indian business summit on Monday.
50-odd biz leaders are part of Modi's entourage for the 3-nation tour
India and China are the only two countries who have reported a slight dip in pay hike.
Nooyi also indicated that PepsiCo will double its workforce in China over the next five years, which the company sees as a major growth market.
Goldman's relationship with ICBC was similar to that of other big global financial institutions that purchased stakes in Chinese banks and insurers.
Net income for the quarter stood at $1.14 billion or 71 cents per share, against $1.43 billion or 89 cents per share, a year ago.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
The problem was that the US imposes a different measurement of lead content from other countries, the General Administration for Quality Supervision, Inspection and Quarantine, the safety watchdog of China, said in a report.
Pending final approvals, Huawei would become the first big-name Chinese phone maker to manufacture hardware in India's growing market.
Corporate India lags the rest of its Western and Asian peers by a wide margin when it comes to the presence of women on their boards, with just 17.3 per cent of the large companies having them on their key decision making bodies, an international report said on Tuesday. However, this is a near 6 percentage points improvement between 2015 -- when it was only 11.4 per cent -- and 2021, Swiss brokerage Credit Suisse said in the report, which covered over 33,000 executives from more than 3,000 companies across 46 countries, including over 1,440 firms across 12 Asia-Pacific markets. Female representation on boards of large Indian companies has increased by 5.9 percentage points from 11.4 per cent in 2015 to 17.3 per cent in 2021.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period closed and no country proposed an alternate candidate for the prestigious post. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.
In the technology (tech) world, especially storage, Sanjay Mehrotra is a well-known name. Co-founder of SanDisk, a flash memory storage company in 1988, it was eventually acquired by Western Digital in 2016 for a whopping $19 billion. For a boy from Kanpur, who went on to pursue higher studies in the US, becoming the chief executive officer of Micron Technology, Inc - one of America's largest memory chip makers - and now setting up the company's first plant in India, it has been quite a ride.
'As the Indian economy continues to expand over the next three years, mid- and small-caps should do well as they have higher exposure to the domestic economy than large-caps.'
India Inc on Monday said the policymakers in the country must ensure corrective measures at the earliest to rebuild investor confidence.
If reports that Apple Inc plans to triple its iPhone production in India come true, it is likely to help the country become a supply hub for the American company. There are some 190 Apple suppliers globally, but only 12 have manufacturing facilities in India now. Apple's strategy is to focus on India and a clutch of other countries as it diversifies its supply chain out of China.
China will launch its first digital high-resolution television channel from January next year.
'Gartner Inc predicts that by 2007 China will pull in $27 billion for IT services including call centres and back-office work, matching India,' Business Week said.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
The popular anti-impotence drug will be available in about 2,000 drugstores in major cities.
China National Petroleum Corp, which trailed Oil and Natural Gas-Mittal Group combine when price bids were made on August 15, raised its bid to $4.18-billion to acquire PetroKazakhstan, a Canadian oil firm operating in Central Asia.
Google has seen its share of the online mapping market shrink below 10 per cent while that its local rival Baidu Inc soared to 61 per cent.
The government has asked industry to provide a list of Chinese suppliers that would like to shift some capacity to India provided they are willing to set up JVs with Indian companies.
Buoyed by growth in bilateral trade with China during the first eight months this year, the government on Monday exuded confidence in achieving the $10 billion target set for next year.
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.
The Crisil study covered 600 companies excluding financial services and oil companies, representing 71 per cent of the overall market capitalisation of India Inc.
On the profitability front, Crisil foresees a 0.5 per cent basis points y-o-y jump in EBITDA (operating profit) margins in Q2 FY15.
In 2002, Apple applied for the 'iPhone' trademark for its electronic goods in China.
The two PMs may also explore ways to further deepen ties between the navies of the two countries to check China's heightened activities in the Indian Ocean.
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Analysts expect the iPhone 6 and 6 Plus to sell well in China, where many people prefer phones with larger screens.
Microsoft, responding to the rights group's allegations, said a system fault had removed some search results for users outside China.
Apple's newest phone iPhone 14 will be made in India as the global tech titan bets big on the manufacturing prowess of the world's second-biggest smartphone market after China.
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