The facility would focus on equipment for the energy sector, besides aviation and health areas.
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
They are small town boys who went on to make it big in global financial powerhouses.
The collapse of Jet Airways has everything to do with the falling number of wide-bodied aircraft.
The Tejas Mark 1A outperforms the Sino-Pakistan JF-17 Thunder in avionics and weaponry, but the finance ministry's tax burden makes the Indian LCA costlier and hurts it in the export market.
Great Eastern Shipping Company Ltd decided not to pursue divestment programme of the government to divest Shipping Corporation of India Shares.
Scott Bayman cited Indian Airlines' and Air India's purchase of Airbus and Boeing aircraft, respectively, as prime examples of this growing transparency.
According to a senior government official, the plan is to do "collective bargaining" for certain medical devices and implants by assuring a bulk requirement to the manufacturers. "The requirement for these devices runs into millions. We assure them that the requirement is going to be in bulk. In return, they should offer us better rates," he said.
Diversified conglomerate General Electric has posted a 47 per cent decline in profit for the second quarter at $2.67 billion, as the global financial turmoil took a severe toll on the firm's financial and other business.
Foreign portfolio investors (FPIs) who invest from Mauritius into Indian companies that dole out bonus debentures will get impacted by the tax avoidance provisions on bonus stripping. The FY23 Budget has extended these provisions - applicable only to MFs, so far - to shares and units of REITs, InvITs and AIFs. The move will especially affect large institutional investors who sell original units within nine months after the record date because the loss arising from sale of original units would have to be ignored for the purposes of computing taxable income and cannot be set off against any other capital gain.
Customers are conscious about prices but they don't want to compromise on quality, according to GE's main man John Flannery. Faisal Kidwai reports
The centre in Riyadh will be staffed by Saudi females and will start by catering to Saudi Aramco and GE as anchor clients.
On the other hand, outsourcing companies can expect an exponential increase in the outsourcing business as fresh loan processing norms are tightened in the US.
Rising wage costs, competition from countries like China, the impending withdrawal of tax incentives under the STPI scheme, the slowdown in the US and the rising rupee have all punctured the optimism of the IT industry.
N Chandrasekaran, managing director and chief executive officer of Tata Consultancy Services, has consistently said he wishes to take the company beyond mature economies such as America and Europe, into emerging markets.
In a recently published report the New York Daily News said that mega American companies like Microsoft Corp, General Electric and American Express are moving thousands of customer service call-centre jobs to India.\n\n\n\n
PM also invited US-based GE and other global firms to invest in the defence sector.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
A spokesperson attached to GE's Jack Welch Research Center in Bangalore said after the new people join, employee numbers in Bangalore would cross the 4,500-mark. GE's technology product research and development team is currently 3,800-people strong, with an additional 350 people employed in global research.
GE and Malaysia Airlines have said they are continuing their existing contracts with Satyam. In the newly constituted board's first meeting, Deepak Parekh had said two of Satyam's global clients have vouched for the firm but declined to give further details. Meanwhile, over half a dozen of Satyam Computer's rivals have started exploring ways to take over the business from its various clients, a global technology consultancy firm has said.
Siemens Healthineers, one of the largest manufacturers of made-in-India CT scanners, has sold 80-100 such machines in the last 45 days. The medical technology firm typically sells 250 machines in a year.
In just three years the online real estate portal has managed to raise about Rs 270 crore.
The department found various expatriates were acting as business heads for Indian operations and certain employees were actively involved in concluding sales for the foreign entities of GE in India.
GE India's new president & CEO, John Flannery, plans to resurrect the company's fortunes by localising operations.
Kumar will succeed Dinesh Keskar, who returned to Boeing Commercial Airplanes earlier this year.
In an exclusive interview to NDTV, Jeffrey Immelt, CEO of the $180-billion American giant GE, says he is paranoid and is gearing up for any eventuality.
The company which had reported a sales of $2.8 billion (last reported figure) in 2007, however said it remained confident about the growth opportunities in India in the medium to long-term, owing to huge spending that is expected to happen in the infrastructure development.
Most successful and ambitious business leaders feel persuaded that they have no competent successor, says R G Vilakudi.
With a potential liability of Rs 750-800 crore, sources say Clix Capital's stand on the matter would be crucial in finalising the merger valuation.
Tejpreet Chopra, former chief executive of GE India, and Rahul Sankhe, business development director of SunEdison Energy India Private Ltd, criticised certain aspects of the Jawaharlal Nehru National Solar Mission that ambitiously targets 20,000 MW of solar energy in India by 2022 in three phases.
The policy proposes a single-window platform for facilitation of the Indian software product industry, to help fast-track legal and regulatory issues over import and export, as well as setting up and winding up enterprises.
In a last-minute twist, General Electric of the US has bagged the hotly contested $800-million tender to supply 99 engines for India's Tejas light combat aircraft (LCA). After both engines in the contest -- GE's F-414 and Eurojet's EJ-200 -- were found technically suitable, the F-414 has been declared the cheaper option.
Sources said about hundreds of companies, including Facebook and Amazon, could seek tax refund because they import software for sale in India.
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala's new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France. Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline. The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa's holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into domestic aviation, due to take off in summer 2022, is whether it is another pie in the sky.
T K has been an integral part of the organisation's leadership for years, says Azim Premji.
