The government will use the Supreme Court order calling the 2005 deal between ISRO's commercial arm Antrix and privately-owned Devas Multimedia a fraud, to counter seizure of its properties, Finance Minister Nirmala Sitharaman said on Tuesday as she launched a blistering attack on the Congress for handing over airwaves used by the defence to the private firm for pittance. "It is a fraud of Congress, by Congress (and) for Congress," the minister told reporters as she read out paragraphs from the Supreme Court's January 17 decision allowing winding up of Devas Multimedia because of the fraud.
India's total online shopper base at 30 per cent of its internet population is low when compared with 78 per cent in China and 70-plus per cent in the US.
India's consumer digital economy which was pegged at $85-90 billion in calendar year 2020, is expected to become a $800 billion market by 2030, according to reports released by consulting firm RedSeer at its flagship event Ground Zero 5.0. The digital economy includes 60 per cent of travel, 40 per cent non-grocery retail, 30 per cent of education, 25 per cent of food and beverages services and 6 per cent of pharma/grocery going through digital channels by calendar year 2030. Online retail is set to become the third-largest market by scale by CY30 with an annual gross merchandise value (GMV) of $350 billion in CY30, said RedSeer.
Giving a relief to exporters community, the government on Thursday said it will release Rs 56,027 crore to exporters against pending tax refunds under different incentive schemes for outbound shipments. The amount will be disbursed to more than 45,000 exporters. Briefing the media about the decision, Commerce and Industry Minister Piyush Goyal said that the Rs 56,027 crore, which is being released under various export promotion schemes, is over and above duty remission of Rs 12,454 crore for the Remission of Duties and Taxes on Export Products (RoDTEP) Scheme and Rs 6,946 crore for Rebate of State and Central Levies and Taxes (RoSCTL) Scheme already announced.
While Reliance has the clout to negotiate prices with suppliers for its e-commerce, not to forget the cost advantage of integrated warehouse and supply chains, Amazon and Walmart are no pushovers, they too have deep pockets.
Seven years after Modi took office, merchandise exports were lower in 2020-2021 than when he had taken over from Manmohan Singh, points out Aakar Patel.
Enabling the online booking and payment for Indian Railway tickets is one such case. Amitabh Pandey's book is about how he went about enthusing teams inside the Indian Railways and facilitating online reservations, says Ajit Balakrishnan.
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
Ajit Balakrishnan on keeping an eye on democratising finance in India.
Even as the semiconductor shortage has limited the demand for new cars, the pre-owned car segment is seeing a surge. A preference for personal mobility, availability of multiple organised online platforms, including e-commerce channels, aggregators, and classifieds, have been fuelling growth. The growth rate of the pre-owned car market is expected to be 1.5x that of the new car market over the next five years.
'We want to look at very strong entrepreneurial teams.' 'I want to focus on a full team and not just the entrepreneur, which is building innovative and amazing differentiated businesses in large markets.' 'We also look at business models that are proven and have reasonably good gross margins, which show that this is where a lot of value is getting built.'
Some of the 89 apps are among those which the Centre has already banned stating "they are engaged in activities which are prejudicial to sovereignty and integrity of India, defence of India, the security of the state and public order".
Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect $1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. "Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders.
The ministry of home affairs has recommended a ban on 54 Chinese mobile applications that pose a threat to the country's security, officials sources said on Monday.
New iPhones to sell in Rs 62-92K range from Oct 16 in India
Instead of making the sellers bleed, experts say, e-commerce giants Amazon and Flipkart have roped in banks to offer discounts to buyers.
Chinese mobile brands are deeply entrenched in the Indian market. A move to bar them may send a bold diplomatic message. But its cost for the local industry is anybody's guess. In the event that Chinese brands face curbs, two handset makers - Samsung and Apple - squarely stand to gain.
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
Chief Economic Adviser (CEA) K V Subramanian on Tuesday exuded confidence that India would achieve double-digit growth in the current financial year on the back of policy initiatives and continuing reforms. He also said the country is well poised to meet the fiscal deficit target of 6.8 per cent of GDP. "At this stage, I can say confidently that we should be able to achieve that fiscal deficit number. "Any shortfalls that might happen on the disinvestment side will also be accompanied by positive surprises that have happened on tax revenue," he told reporters.
Infibeam appointed Kothari as president, strategy, corporate development, international operations, and investor relations.
Despite headwinds, it remains "structurally bullish" on India and expects the Sensex to scale up to the 70,000-mark by December 2022; 80,000 level in a bull-case scenario and hover around the 50,000-mark as a bear-case, the brokerage house said in a report.
The iPhone 6 and its higher end model iPhone 6 Plus will be available across retail stores from October 17.
The steep rise in prices of key components, coupled with a ban on the import of finished sets, is expected to hit prominent Chinese brands, such as OnePlus, Xiaomi, TCL, and Realme.
Besides Jeff Bezos-led Amazon, Walmart-owned Flipkart is also facing a threat from Asia's richest man and RIL chairman Mukesh Ambani, who is also betting big to grab a share of the country's e-commerce market.
Incubated for over three years, the OnePlus 5 comes with a Snapdragon 835 processor.
"I don't want Z category security. I want to be an A-category citizen, at par with you all. Why was UAPA not invoked against those who fired at me? ...I want to live, to speak. My life will be safe when the poor are safe. I will not get scared of those who shot at my car," he said in Parliament.
For last two months, much of the discussion, a large part of due diligence, agreement negotiations, etc, have happened remotely.
Nearly all FMCG companies like Marico, HUL, ITC and the rest have been indicating that the operating environment has been challenging, with drop in consumption, especially in rural areas, severe crunch in market liquidity conditions, and disruptions and floods in several parts of the country. To overcome this, they are boosting their direct reach in the countryside.
This year's list includes 40 influential people under 40 years of age in five categories -- finance, technology, healthcare, government and politics, and media and entertainment.
Flipkart will need $2 bn annual profit to make Walmart investment viable, which will mean yearly revenue of $100 bn
Its share among top three e-commerce players grew to 57% in March 2017 from 45% in June 2016
The potted history of the browser wars indicates how much the online space has altered in the last 25 years. Chrome's dominance, says Devangshu Datta, is unlikely to last forever.
As far as possible, investment in the agriculture sector must be from the government, and not the private sector, states Santushti Raj Thapar.
From Samsung to Apple iPhone XR, smartphone firms are showering discounts in April.
Prime Minister Narendra Modi has met his Australian counterpart Scott Morrison in Washington, DC, ahead of the first in-person Quad meeting to be hosted by US President Joe Biden and discussed a broad range of issues of bilateral, regional and global importance, including the Indo-Pacific.
Experts attribute the lower target to increased allocation under the credit guarantee scheme for small businesses. Out of the Rs 3.21 trillion worth loans sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) in the last financial year, Rs 3.12 trillion were disbursed to entrepreneurs, according to official data.
It was expected that supplies from China will be back to normal by end-June as their factories are now operating at nearly 90 per cent of normal capacity. But the recent issue with shipments has placed an obstacle that manufacturers can't bypass.
The scales started tilting in favour of smartphones in 2014, when a slew of new, yet vibrant, brands entered the market, with their competitively priced offerings helping smartphones become the indispensable device that it has turned into today.
While most others have not been able to replicate the WeChat model successfully, experts expect Jio to be able to score on its 300 million plus new mobile phone users.
'Aquaponics can effectively cushion the impact of a calamity like COVID.'
