Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
More people working in India's technology industry have lost their jobs in the first six months of 2023 than in the corresponding period in 2022.
'As regard to specific reference to high net worth individual, the moment we finish the 75th anniversary of India's independence, we shall review and take a call,' Finance Minister Nirmala Sitharaman said.
More cos could join the likes of Burger King and Antony Waste in giving listing another shot.
For IT services companies, ESG (environmental, social, and corporate governance) metrics are becoming a crucial component in winning deals as clients are considering sustainability a top priority and are keen to work with partners who are on the same page. "Sustainability is becoming an important part of the client's evaluation. "There is a tremendous focus across the world on sustainability, and it is becoming one of the top five business priorities.
Korea's second-largest automaker and Hyundai's sister company showcased a line-up of 16 models from its global portfolio at the ongoing Auto Show
Discussions are said to have been heating up over how long a tax indemnity clause, which is part of such deals, should run, according to multiple people familiar with the matter.
India has emerged as one of the top three choices for investments in the next 2-3 years, with more than two-thirds of respondents in a survey of multinational companies (MNCs) citing the country as their number one choice for future investments. According to the FDI survey released on Tuesday by CII in association with EY, about half of the respondents see India amongst the top three economies or leading manufacturing destinations of the world by 2025.
Ruia, a chartered accountant whose business ranged from sugar to textiles and heavy engineering to tyres, refused to comment on queries about his interest in Air India.
GST taxpayers will be required to reverse by November 30 the input tax credit (ITC) claimed in the last fiscal in case their suppliers fail to deposit the due tax by September 30, the finance ministry has said. The taxpayers, however, can reclaim the ITC later following the deposit of taxes by the supplier. The ministry has inserted Rule 37A in Central Goods and Services Tax rules to give effect to the new provision.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
According to EY's private equity deal tracker, Brookfield-Reliance Jio's $ 3.7 billion deal is the largest ever PE/VC deal in India, surpassing the $ 2.5 billion investment made by Softbank in Flipkart in 2017.
In March 2020, soon after the cessation of airline operations globally and domestic flights within India, many in the aviation sector had written Delhi-headquartered low-fare airline SpiceJet's obituary well before that of most of its rivals. Unlike IndiGo, GoAir (now rechristened Go First), Vistara and even AirAsia India, SpiceJet did not have founders or backers with deep pockets. Although it is the only other listed carrier in India besides IndiGo, it was considered the weakest and the least likely to survive the pandemic. But chairman and managing director Ajay Singh surprised everyone by not only surviving but taking the lead on many fronts. Within a few weeks of the scheduled flight stoppage, SpiceJet was doing as many charter flights as it could get hold of.
India Inc is not in the dark about moonlighting employees. According to a forensic accountant, companies can easily turn to experts and deploy digital tools that can be used to check if an employee is doing a second job or not - reaffirming fears of many who are wary of the practice in the context of the recent sacking of moonlighters by IT major Wipro. Arpinder Singh, global markets and India leader, forensic and integrity services, EY, said that EY had been involved with several companies to gauge moonlighting.
Despite the $11.7 billion raised by Reliance Industries Ltd (RIL) through stake sales, venture investments in 2020 have declined by a fifth to $28.9 billion till September, consultancy firm EY said in a report on Thursday. Since mid-March, coronavirus infections started getting reported in the country, which has now become the second highest globally in terms of numbers. The lockdowns severely dented economic activity, leading to a 23.9 per cent contraction in the gross domestic product (GDP) for the April-June period and expectations of a 9.5 per cent contraction by the Reserve Bank of India (RBI) for 2020-21.
Know what terms like anti-profiteering, CGST, SGST, IGST means in the new regime
India is currently home to 52 unicorn startups and one of the fastest-growing startup ecosystems.
This year, festive sales are expected to push up the annual gross merchandise value of e-commerce companies to around $38 billion, a 40 per cent growth over the previous year.
'In terms of ticket sales, Hindi is at 50-60 per cent while the South markets are at 80-90 per cent of pre-pandemic levels.' The patchy performance of Hindi, the largest segment of the business is the nub of what is bothering Indian cinema.
AzaadiSAT had around 75 small payloads developed by schoolgirls of 75 rural schools.
PE/VC investments touched a record $11.2 billion in the first half of 2017 against $8 billion in the same period in 2016
The domestic deal-making activities were hit by weak corporate governance and a huge liquidity crunch in 2019, while the global deals were also hard to come by due to various factors including uncertainties caused by the US-China trade war, which left many investors in a wait-and-watch mode.
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
No response has been received for the Expression of Interest floated for the strategic divestment of Air India
The reopening of schools and colleges has sparked a crisis in the edtech sector with falling valuations, slowing funding rounds and faltering investor sentiment. In a totally altered, post-pandemic landscape where students are back at school and colleges, companies are scrambling to revert to bricks-and-mortar tuition centres and adopting a hybrid model of offline and online education. Demand for online tuition has fallen, affecting the revenue of edtech companies in recent months. After two years of booming revenues, some experts say the sector is looking at a possible meltdown.
Investments by private equity and venture capital funds (PE/VC) declined by 22 per cent in March to $4.6 billion spread across 107 deals, a report said on Wednesday. The deal activity showed an increase of 54 per cent by value at $15.5 billion across 360 deals, largely on the back of heightened activity in the startup space, the monthly report by IVCA and EY said. "While India's position as an attractive destination for PE/VC investments is expected to remain strong in 2022 given its high growth and macroeconomic and policy stability, the continuing geopolitical tensions, rising inflation, quantitative tightening by the US FED and inversion in the US yield curve are potential downside risks, making investors circumspect," Partner at EY Vivek Soni said.
Investments by private equity and venture capital funds in November stood at $6.8 billion across 102 deals, which is double by value when compared with the pandemic-impacted year-ago period but half of the bets in the preceding month of October, as per a report. In November 2020, such high-risk investors had infused $3.9 billion, while in October, the total investments had stood at $13.1 billion, the monthly data shared by industry lobby IVCA and the consultancy EY said. The overall investments in the first 11 months of the year have touched $72.6 billion, which is 53 per cent higher than the all-time high for a year achieved in 2020, it said.
Probable reasons that led to failure of the sale process include 24 per cent government stake and corresponding rights, high debt, volatile crude oil prices, fluctuations in exchange rate, changes in macro environment, profitability track record of bidders and restriction on bidding by individuals.
A large number of large and small businesses process EU data, have customers from the EU or have access to data of EU citizens in one way or another.
EY Foundation India and India Paryavaran Sahayak Foundation have come up with a cost-efficient and scalable solution. The project involves spreading awareness and driving usage of in-field straw management practices among farmers, to reduce the air pollution caused due to crop residue burning.
With the disruption caused by the second wave of Covid-19 pandemic, the 'fear of unknown' is looming over the government's privatisation drive. Although there is a lot of uncertainty and unpredictability on how things will unfold, the government is hopeful of completing the transactions listed in the Budget with a delay of one to two months, said a top government official. However, "there are many unknown factors now, and we do not know whether there could be a third wave. But we are trying to carry on with our work", the official said." Since there is a lot of uncertainty, the estimates will have to be revised as rating agencies are revising their outlook for growth.
The mysterious Himalayan 'yogi' who allegedly advised Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), on important matters of the bourse could be none other than Anand Subramanian, according to a letter written by former NSE chairman Ashok Chawla to the Securities and Exchange Board of India (Sebi). Subramanian was group operating officer of the NSE and advisor to Ramkrishna during 2015-16. He joined as chief strategic advisor in April 2013.
India's economy is unlikely to see double-digit growth and may grow between 8 per cent and 9 per cent this fiscal year (2021-22, or FY22), against the estimated 11.5 per cent, according to leading economists and rating agencies. The downward revision of growth projections to as low as 10 per cent is mostly on account of stringency in restrictions by states, relatively slow vaccination pace, and the possibility of a third wave of the pandemic. However, they say the impact will not be as severe as the first wave, and expect the first quarter to see positive growth.
With the introduction of the single window clearance provision, pre-production windows are expected to reduce significantly. Not only will it have an impact on the operational cost of the film, it will also allow studios to release films faster.
While Road Transport Minister Nitin Gadkari has been dropped, the panel now has four ministers - Shah, Finance Minister Nirmala Sitharaman, Commerce and Railway Minister Piyush Goyal and Civil Aviation Minister Hardeep Singh Puri.
IAMAI in a statement, which represents digital businesses in India, said Trai's recommendation to formulate standards of anonymisation and de-identification was akin to putting the cart before the horse, and till such time the Srikrishna Committee submits the report, making these standards would be like groping in the dark.
Financial institutions are 300 times more vulnerable to cyberattacks than any other industry.
HR can make better hiring decisions with solutions powered by robotics & machine learning.
GST collections in March touched a record high of over Rs 1.23 lakh crore, a 27 per cent growth over the year-ago period, the Finance Ministry said on Thursday. "GST revenues crossed above Rs 1 lakh crore mark at a stretch for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic," the ministry said. Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, income tax and customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue over last few months, it added.
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