'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
Foreign direct investment (FDI) in India has increased by 16 per cent year-on-year to $27.1 billion during April-August this year, the Commerce and Industry Ministry said on Tuesday. During April-August last year, India had received FDI worth $23.35 billion. The ministry said that the total FDI, which includes reinvested earnings, grew by 13 per cent to $35.73 billion.
Capital markets regulator Sebi on Tuesday decided to gradually phase out buyback of shares by companies through the stock exchange route to address the drawbacks associated with the existing mechanism. Sebi chairperson Madhabi Puri Buch said the regulator has chosen the tender offer route for share buyback as the present mode is vulnerable to favouritism. "This is a glide path and will lead to the phasing out of the present buyback mode (through stock exchange route)," she told reporters after its board meeting in Mumbai.
Services sector activities in India picked up marginally in February on the back of better demand conditions and the retreat of the coronavirus pandemic but the rate of expansion was the second-slowest since last July and subdued by historical standards, according to a monthly survey. Reflecting a moderate rate of expansion, the seasonally adjusted IHS Markit India Services Business Activity Index rose to 51.8 in February from 51.5 in January. "The upturn was attributed by panellists to greater bookings, better demand conditions and the retreat of the pandemic. "That said, the latest increase was subdued by historical standards, with some companies indicating that growth was dampened by competitive pressures, COVID-19 and higher prices," the survey released on Friday said.
AAP will have to learn to be patient as such electoral changes do not happen in a hurry, asserts Ramesh Menon.
Geithner and Bernanke held talks with India's major multinational corporations.
'We feel EMI holidays should pick up now.' How travel companies are trying to win customers after demonetisation.
'India's manufacturing will take 10-15 years to catch up with China.'
India has received over USD 20 billion in FDI amid the coronavirus pandemic, Foreign Secretary Harsh Vardhan Shringla said on Tuesday, showcasing the country as one of the most attractive destinations for investment globally.
'Favourable product mix, sales recovery, and cost saving initiatives are expected to support margins going ahead while focus on debt reduction (target of debt free by FY24) will aid balance sheet strength'
Bharadwaj said it has not rained in Delhi in the last 3-4 days, yet still the water level in Yamuna reached 208.66 metres.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
The government on Wednesday notified its decision to permit 100 per cent foreign direct investment (FDI) under automatic route in the telecom services sector. In a press note, the Department for Promotion of Industry and Internal Trade (DPIIT) said foreign investment in telecom services will be subject to the condition of Press Note 3 of 2020. Accordingly, cases requiring prior government approval under the provisions of Press Note 3 will continue to be in place.
This year is set to be the third consecutive year when India's share of IPOs has fallen relative to the rest of the world.
'India will jump 30-40 places in the World Bank ranking of ease of doing business next year.'
White is easy to maintain, looks brighter than other colours over a longer period, is the least commonly rejected colour among family members, has high resale value, provides better safety at night, absorbs less heat in the summer season, makes small cars look bigger, and is not considered inauspicious.
De Villiers backed India and Mumbai Indians' batter Suryakumar Yadav, who has witnessed a sudden dip in form, advising him to focus on what has worked in the past.
Travel companies are expecting a heavy rush to the US following the withdrawal of curbs on fully vaccinated travellers from select countries, including India, on November 8. The move will benefit those holding long-term tourist, business, and work visas. Also, new and extra flights by Air India and American Airlines are expected to provide better travel options.
Details were not immediately available ahead of a planned government briefing.
Executives feel political and other turmoil will hit plans, funds flow; govt says fears valid but will prove wrong.
The proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020, that are envisioned to protect consumer interests, may further compound the impact of multiplicity of regulations on the e-commerce sector, the Indo-American Chamber of Commerce (IACC) had told the ministry of consumer affairs. IACC, the apex bilateral chamber for Indo-US business, had told the government that the proposed amendments would increase compliance liabilities that risk severely impairing the growth of the sector.
Ramesh Abhishek, secretary, Department of Industrial Policy and Promotion, talks to Subhayan Chakraborty about India's performance on the World Bank's ease of doing business ranking.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
Gujarat and Karnataka have been ranked as the best performers in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by the Department for Promotion of Industry and Internal Trade (DPIIT). Among smaller states having population of less than one crore, Meghalaya has been adjudged as the best performer. The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
There was an environment of "indifference" towards the use of technology in governance before 2014 due to which the poor and the middle class suffered the most, Prime Minister Narendra Modi said on Friday. He asserted the current government has ensured last-mile delivery of services with the help of technology, including drones. Addressing a gathering after inaugurating India's biggest drone festival in Delhi, he said, "At a time when we are celebrating Azadi ka Amrit Mahotsav, it is my dream that everyone in India should have a smartphone in his or her hand, every farm should have a drone and every house should have prosperity." The enthusiasm being seen in India about drone technology is amazing and indicates possibilities of an emerging sector of employment generation, the prime minister said.
'India seems to be on a relatively better wicket compared to other emerging markets.'
The results are likely to please the Indian government, which has been trying to impress on domestic and foreign investors about its efforts to improve the ease of doing business.
India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Participating in a virtual event organised by economic think tank NCAER, Rajan said during the taper tantrum in 2013, India asked for swap lines, and only country who helped was Japan. "We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends.
In a show of solidarity, the CEOs of some 40 top American companies have come together to create a global task force to mobilise resources to help India fight the battle against Covid-19.
At an event at Chhatrapati Shivaji Maharaj Terminus in south Mumbai, Modi first flagged off the the CSMT-Solapur Vande Bharat Express and later another semi high-speed train linking the financial capital to Sainagar Shirdi temple town in Ahmednagar district.
Rules for mining, roads, power and irrigation projects relaxed.
India's manufacturing sector activities improved in September as companies benefited from strengthening demand conditions amid the easing of COVID-19 restrictions, a monthly survey said on Friday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) improved from 52.3 in August to 53.7 in September, indicating a stronger expansion in overall business conditions across the sector. The September PMI data pointed to an improvement in overall operating conditions for the third straight month. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
'To set up a successful business, one must have a solution to an existing problem or a better way of addressing the current solution.'
While there were concerns about the security aspect of drones, top government officials were of the view that restricting the drone industry would stifle a sunrise sector which holds significant promise for future, reports Arindam Majumder.
Dealerships, too, are going all out to roll out the red carpet for women.
Foreign direct investments (FDI) into the country grew 19 per cent to $59.64 billion during 2020-21 on account of measures taken by the government on the fronts of policy reforms, investment facilitation and ease of doing business, the commerce and industry ministry said on Monday. Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to the "highest ever" of $81.72 billion during 2020-21 as against $74.39 billion in 2019-20. "FDI equity inflow grew by 19 per cent in 2020-21 ($59.64 billion), compared to 2019-20 ($49.98 billion)," the ministry said in a statement. In terms of top investor countries, Singapore is at the top with 29 per cent share.
So far, GMTS has defaulted on the supply of more than 20 cargoes or shiploads, 13 of which were set to be received in the second quarter (July-September), officials said.
'What would we feel if we found the world behaving the way it has?' 'Forced to fight our own prolonged battle; nobody from outside really demanding that the war end or actively working to make it end, and above all, a completely toothless United Nations reduced to pleading for a halt to the violence,' notes Shyam G Menon, exactly a month after Vladimir Putin ordered the invasion of Ukraine.
It was one of the toughest times in history to announce a budget, says Harsh Goenka, chairman of RPG Enterprises.
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