With the Union Budget three months away, major industry chambers have submitted to the government proposals on common taxes, seeking simpler compliance and a quicker resolution of tax disputes.
Reforms in the Indian economy have brought about a change in the nature, role and functioning of industry chambers and their membership, both in terms of composition and numbers.
Affirmative action here refers to direct efforts to ameliorate the educational and employment situation for Scheduled Castes, Scheduled Tribes and Other Backward Classes.
Ecommerce firms will have it tough as govt turns down FDI proposal.
Country's apex business chambers -- CII, Ficci and Assocham -- have said the WTO draft on Non-Agriculture Market Access under the Doha Round of trade talks was in complete disregard to the mandate of the round, which had to revolve around lesser obligation on the developing countries for duty reduction.
Finance Minister P Chidambaram is likely to meet captains of Indian industry on June 17 so that 12 per cent growth can be achieved in the manufacturing sector.
Industry representatives recommended that the basic annual exemption limit for individuals should be raised to Rs 1,50,000 from Rs 1,10,000 and the peak income tax rate be cut to 25 per cent, from 30 per cent at present.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
MAG was constituted by Department of Electronics and IT in February 2014.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
Private labels remain big business for e-commerce marketplaces. They comprise almost 15 per cent of the total business of such firms.
India Inc, which is sitting on cash balances of 13.5 trillion, is using the funds to meet capital expenditure as well as brownfield expansion, resulting in 'anaemic' demand for bank loans, State Bank of India (SBI) chairman CS Setty said at an event on Monday. He added that a slowdown in corporate credit is mainly due to lack of demand.
Narendra Modi is to hold summit-level meetings with the heads of more than 50 African nations on Thursday.
The Centre said on Wednesday it had made a good offer for the proposed Free Trade Agreement with the Association of South East Asian Nation and is awaiting ASEAN's reactions to it.
Welcoming US President George W Bush's second term in the White House, industry bodies on Thursday said it would further strengthen Indo-US trade and economic ties.
What are the problems affecting the growth of food processing sector in India
Shinde said the average plant load factor of Indian generation units improved to 77.5 per cent during 2009-10 from 73.6 per cent in 2006.
India's micro, small and medium enterprises (MSMEs) - which contribute over 45 per cent to outbound shipments - are facing a major disruption following the United States (US) decision to impose 50 per cent additional tariffs on the country's exports. MSME industry bodies have raised an alarm over the deep impact, seeking immediate government intervention.
In fact, India stands to gain in sectors such as textiles, handicrafts, chemicals and pharmaceutical from its trade with the Asean economies.
India and the United States are considering yet another initiative to boost bilateral economic relations. Both sides are now mulling a Private Sector Advisory Gr
Businesses are testing new markets, tapping into domestic demand, and pushing the government for relief.
US Commerce Secretary Gary Locke's robust meetings in Mumbai, includes a bilateral with the Governor of the RBIndia Dr D Subbarao and senior officials at the Department of Atomic Energy and the Nuclear Power Corporation of India, in addition to speeches to the Federation of the Indian Chambers of Commerce and Industry and the National Association of Software and Service Companies, will also be punctuated with an interaction with the dabbawallahs or tiffin caterers.
Eying benefits from digital banking, lenders are now looking at building Unified Recovery Interface (URI) for enhancing efficiency, reducing costs, and getting good prices for properties of defaulters. This would be managed by PSB Alliance Ltd, a company set up by all public sector banks in the country. M V Rao, chairman, Indian Banks' Association (IBA), said: "Till now we had Unified Payments Interface (UPI), a product developed by National Payments Corporation Ltd (NPCI).
Former India wicketkeeper and chairman of selectors Kiran More says the IPL will benefit from Chirayu Ramanbhai Amin's undoubted administrative skills.
The RBI has been tightening key benchmark rates since November last year as the country started recovering from the impact of the global economic slowdown.
Draft norms soon, but central bank worried about self-dealing by company promoters.
At 3.5 per cent per annum, interest on savings accounts is the only regulated rate in the banking system currently and a highly contentious one given its impact on the common man.
Banks in India will need about $100 billion (Rs 5 lakh crore) of capital over the next decade as the system grows to meet credit requirements of an expanding economy, Om Prakash Bhatt, chairman of the State Bank of India said.
Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.
16 national and regional industry bodies and sectoral business lobbies video-conferenced with Commerce and Industry Minister Piyush Goyal on Saturday and raised key concerns facing Indian industry in the wake of the 21-day lockdown over coronavirus.
The meeting will focus on how to make the crisis an opportunity for India.
I'...additional concessions, such as opening government procurement, reducing agricultural subsidies, weakening patent protections, and allowing unrestricted data flows -- demands India has resisted for decades.'
Bharatiya Janata Party's prime ministerial candidate, Narendra Modi, last month urged small traders to compete with foreign retail chains through e-commerce.
It's seen as a signal that he wants to engage with India Inc at a time when the economy has started looking up.
