Following the end of the grandfathering period given to India Inc to replace their independent directors who had already served for 10 years, certain companies have come up with unique ways to replace the old guard.
Some of India's biggest employers are testing for antibodies to either comply with regulatory norms or gauge the effectiveness of precautionary measures.
In absolute terms, capex spending has risen by Rs 228,000 crore (Rs 2,280 billion), despite declining profits and a 37 per cent decline in fund flow from financial markets in 2008-09. The capital-intensive sectors of India Inc do not find the current environment a deterrent to push ongoing expansion and so they continue with capex plans. The study looks at 323 listed companies whose capex spending data for 2008-09 is available.
Welcoming the government's move to name new members on Satyam's board, industry on Sunday exuded confidence that the new directors would help shape the future of the scam-hit company and restore the global investors' confidence in India Inc.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
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.
Demand on rise as companies look to expand in Asian, European markets
Corporate magnate Ratan Tata on Friday said that Congress general secretary, Rahul Gandhi had opened a door for investments in Jammu and Kashmir.
'He has emerged as a formidable leader who cannot be ignored anymore, who cannot be mocked.'
Having rung in the New Year with two major acquisitions in the metals space, India Inc is set to execute more such deals, albeit in automotive, pharma and IT sectors, with companies in Europe being the targets.
India Inc on Tuesday expressed deep reservations over the supplier liability provision -- the contentious Clause 17(b) -- in the Civil Liability for Nuclear Damages Bill, 2010, saying it would seriously hinder nuclear commerce.
In a relief to FMCG major Dabur, two of its foreign subsidiaries, Dabur International and Dermoviva Skin Essentials, have been removed as a defendant in multiple lawsuits filed in a US court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues. However, lawsuits filed against its third international subsidiary Namaste Laboratories LLC, would continue before the US District Court for the Northern District of Illinois, according to a statement from Dabur on Wednesday. Dabur International and Dermoviva were removed and got relief in the multiple suits due to lack of jurisdiction as they have not either manufactured, marketed, distributed or sold hair relaxer products in the US, it added.
Many firms have asked those joining on April 1 to delay their on-boarding by 2-3 months. The outlook for the airline, tourism, hotel, and media industries is bleak too.
His remarks came a day after Kharge said he told Tharoor that it would be better to have a consensus candidate but the Lok Sabha MP insisted on a contest for the "sake of democracy".
Here's a look at how the new corporate governance norms will affect India Inc boardrooms.
The environment looks conducive for growth for corporate India and thus we believe that equities would continue to deliver decent returns over the long term. \n\n
Corporate India's merger and acquisition deal activity in February stood at $2.3 billion taking the total M
Industry body Assocham said the focus continues to be on rising inflation and not on the country's economic growth.
Profitability and cash reserves have halved since the global financial crisis.
Mamata-wary corporate heads hope economics wins over politics in Budget.
Food inflation fell to a four-month low of 9.18 per cent for the week ended March 26, even as wholesale price inflation stood at 8.31 per cent in February.
The operating margin of India Inc is likely to drop in the December quarter with a 100-120 bps year-on-year decline, as 27/40 sectors are set to see crimped margins despite higher revenue, according to a report. Surging commodity prices and price hikes may help companies report a healthy 16-17 per cent revenue growth to Rs 9.1 lakh crore during the quarter ending December, the Crisil report said on Tuesday. Software major TCS will open the earnings season Wednesday.
Mars Inc set to open first chocolate factory in India.
'The hiring in India will be primarily around skills in data engineering, AI, and product engineering.'
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
A vast majority of the business leaders believe that the Production Linked Incentive (PLI) schemes have been beneficial and expect an extension to other sectors in the coming years, a Deloitte Survey said on Friday. An overwhelming number of survey respondents hope the budget will fuel growth across industries by building strong domestic demand and focussing on capital expenditure and believe that it would define the 'Amrit Kaal'. "Critical to this growth will be the pace of capital expenditure, infrastructure development, and the need to boost infrastructure financing through private partnership. 60 per cent of respondents suggested raising funds through Indian Government Bonds," the survey said.
83% of the CEOS plan to hire more in the new year.
'His death is an irreparable loss to the nation'.
Though the Indian aviation sector is finding it tough to glide smoothly due to the rise in operating cost, Indian Inc seems to be flying high with new aircraft buys
'Instead of making this a four-year phenomenon, when you look at us and get thrilled, do it more regularly.'
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.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
'We emphasise the importance of not basing investment decisions solely on electoral outcomes.' 'Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.'
Rahul Gandhi spoke about his vision of empowering women and giving voice to the people of billion-strong nation.
A sharp hike in global commodity prices meant that India Inc's raw material costs rose 38 per cent and, since they constitute 41 per cent of sales revenues, this lowered profits growth to 35 per cent (from 62 per cent in Q3).
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