The government said that far from targeting any US entity, the purpose was to ensure fairness, healthy competition, and to exercise the ability of governments to tax businesses having a nexus with the Indian market through digital operations.
Experts are of the opinion that though the second half of this financial year will see some recovery, volume growth is likely to remain in single digit as compared to the double-digit rise recorded in past years.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
'Our strategy is intact and our important pillars for India -- the SUV roll-out and the focus on the cost of ownership of a car -- remain in focus'
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
Cumulative sales of India's top passenger vehicle makers -- Maruti Suzuki, Mahindra and Mahindra, Tata Motors, Honda Cars, and Toyota Kirloskar -- increased to 206,418 units in February over 200,322 units in the same month last year, an increase of 3 per cent.
The key beneficiary of this expansion in the motorcycle market happens to be Bajaj Auto.
'Even during the lockdown, we have received many online enquiries and subsequent bookings.'
After missing two self-imposed deadlines, billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced recalibration of a proposed $15 billion deal to sell 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco, saying the two firms have agreed to re-evaluate the proposed investment in light of the Indian firm's new energy forays. The stake sale talks, which were first officially revealed in August 2019, are being reset in light of Reliance making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. To pivot to green energy, it has already bought a German maker of photovoltaic solar wafers and signed a deal with a Danish company to manufacture hydrogen electrolysers in India.
The Fortune's 40 under 40 list for this year was topped by Adam Neuman, Co-founder and CEO, WeWork.
A plunge in fuel demand after the raging pandemic forced people to stay home and stifled the economy dealt a body blow to the firm's traditional cash cow oil refining and petrochemicals, even as consumer-facing businesses, which account for 35 per cent of the oil-to-telecom-to-retail conglomerate's revenues, continued to do well.
'One out of three phones sold in India is a Xiaomi phone.'
'As the world changes, we will be on a constant change programme too,' advertising agency J Walter Thompson Global Chief Executive Officer Tamara Ingram and South Asia CEO Tarun Rai tell Viveat Susan Pinto.
Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity.
Zomato's initial public offer (IPO) is scheduled to open for subscription on July 14 and is priced between Rs 72 - 74 per share. At the upper end of the price band of the offering, the company aims to raise Rs 9,350 crore. Most analysts have given a 'subscribe' rating to the issue for listing gains.
Various factors, including robust demand in rural markets and good response to new models, helped in driving the sales.
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
According to analysts, most of the growth in the smartphone space will come from existing users, who will be lured to upgrade their handsets as new features and technologies turn existing features redundant, says Arnab Dutta.
Strong festive demand in October helped carmakers register a seven-per cent volume growth in the domestic market, even as the largest player, Maruti Suzuki, reported low single-digit growth.
Equipped with a host of features including seats with massaging function, climate control, remote controlled door, 15 speaker surround sound system, the car also has agility control suspension system.
The idea is to create a start-up-like activity with a small business unit.
A Twitter spokesperson on Tuesday said the company continues to make every effort to comply with the new guidelines, and is keeping the IT Ministry apprised of progress at every step of the process.
The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog vice chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... "Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview.
'The government has to stop trying to fix things for lenders, projects, homeowners and developers and think instead about how to fix the market for houses,' says Mihir S Sharma.
Data issued by Siam shows sale of PVs (cars, vans and utility vehicles) grew 14.3 per cent to 275,417 vehicles.
Adapting to an inevitable digital intervention is India's only hope at beating a long-standing job crisis. To do so, focus on quality education and better skill development is fundamental, says Dr Yogesh Kumar Bhatt.
'I have personally been very keen on investing in lithium ion battery technology for some time.'
Market leaders Maruti Suzuki and Hyundai, who together control two-thirds of the domestic market, have not yet firmed up a decision on raising prices.
Exports to China saw sustained double-digit growth for the fourth straight month in August, led by eightfold rise in iron and steel shipments.
Overall, the credit profiles of players will be supported by healthy balance sheets and liquidity. Prudence in capital and development expenditure, efficient working-capital management, and recent equity raising will help sustain credit metrics in FY22.
Gaurav Mohta lists three ways to ensure a smooth financial situation for your family despite rising interest rates.
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.
The govt must fix regulatory hurdles to ensure growth.
Suzuki and Toyota are in talks for electric mobility and MSI would continue to access technology from its parent.
Digital-pay companies see 10x growth spurt after demonetisation, report Ayan Pramanik & Shine Jacob/Business Standard from Bengaluru.
Two-wheeler firms' profits to slow down following a double-digit decline in sales.
Flipkart on Monday said it has entered into a commercial partnership with the Adani group to strengthen logistics and data centre capabilities of the Walmart-owned company and create about 2,500 direct jobs.
Other major gainers were Tata Steel, Yes bank, Axis Bank, Maruti Suzuki, Tech Mahindra and TCS -- rising as much as 7.09 per cent.
After a spectacular show in 2016, Kwid's sales have contracted by 20 per cent during the April-December period of FY18 to 65,572 units.
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