Has liberalisation squeezed the personality out of India Inc's leaders?
With the government considering a new Bill to make the Indian Institutes of Management answerable to Parliament, India Inc leaders say the time has now come to grant complete autonomy to these institutes.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
The lower sales growth rate is on account of single-digit growth in sales by Reliance Industries (6.3 per cent), Reliance Energy (9.53 per cent), Hero Honda (5.48 per cent) and Biocon (7.52 per cent). Companies that posted a decline in sales included two-wheeler giant Bajaj Auto (- 3.03 per cent), pharmaceutical major Ranbaxy (-4.79 per cent) and Madras Aluminium (-11.13 per cent).
If financials and oil sectors were removed, India Inc has done quite well.
The sales growth rate has been a 10-quarter low, dragged by slowdown in the key sectors -- capital goods, construction, infrastructure, non ferrous metals, steel and telecom -- that had contributed to India Inc's growth story in the past.
Outflows fell 16.4 per cent in April-Sept 2009 compared to the year-ago period.
The year saw India's biggest corporate fraud, falling earnings, stock market crash, job losses and soaring food prices which hit the common man
Talking corporate heads are a barometer of the business community's engagement with the economy. If they have nothing to say now there should be cause for concern.
72 per cent of the revenue of Indian firms (India Inc) is derived from the domestic / home market - the sixth highest in percentage terms in the emerging market (EM) and the Asian region, said a recent report by Morgan Stanley. The balance, according to the report titled 'Global Exposure Guide 2021' co-authored by analysts led by Jonathan F Garner, their chief Asia and emerging market strategist, is split between the developed markets (DMs) and other EMs. The report is based on an analysis of 3,300 companies globally that have revenue exposure in 17 different regions.
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
Today, when corporate governance practice has become a priority issue, a vast majority of India Inc feels there is a need for stronger regulatory review and enforcement, according to a report by the international consultancy firm KPMG.
The government's plan to cut the corporation tax rate while phasing out exemptions may be sound, but it may not mean a reduced tax burden for India Inc.
This was even as the country's economy grew by 7.3%.
It's been a challenge, especially being glued to the TV set for the late night matches.
Though out of 200 firms approached, only 44 responded, nevertheless the 'Carbon Disclosure Project Report 2009' noted the response reflects that not only they were adopting more accurate methodologies but also providing break-down of their greenhouse gas emissions.
US-based electric vehicle maker Tesla is looking to source components worth around $1.9 billion this year against $1 billion last year, Commerce and Industry Minister Piyush Goyal said on Wednesday. The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector. "Tesla already last year bought one billion dollars of components from I think all of you sitting here.... I have the list of companies who supply to Tesla.
Apple is hoping to assemble in India 25 per cent of all iPhones produced globally to reduce its heavy dependence on China.
The changes in the domestic and global economy following the outbreak of the Covid-19 pandemic are altering the corporate profit league table in India. Reliance Industries (RIL), which topped the India Inc profit chart for more than a decade, lost out to State Bank of India (SBI) in the 2023-24 (FY24) April-June quarter (first quarter, or Q1). India's biggest lender reported a consolidated net profit (adjusted for exceptional gains and losses) of Rs 66,860 crore during the trailing 12-month (TTM) ended in June this year, ahead of RIL's TTM adjusted net profit of Rs 64,758 crore in the quarter.
In FY22-23, Samsung exported $4.09 billion smartphones from India -- an increase of 42 per cent over 2021, when it was $2.8 billion -- accounting for 35 per cent of all smartphone exports.
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
Individuals will have to wait for some more time; RBI may do away with mid-quarter policy reviews.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
In Phase 6, indications are that the BJP, which is defending 40 seats, will lose in double digits and gain in single digits. Not good, if you are the ruling party scrambling to earn a working majority, with just one phase left to go, argues Prem Panicker.
Sales grow 5.3 per cent in third quarter; profit just 1.9%; margins continue to contract.
Some are treating the price correction as akin to a fiscal stimulus that could kick-start a new demand cycle in the economy.
The survey revealed that unethical behaviour still persists, with a majority of respondents justifying unfair actions undertaken to survive the economic downturn.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
Actor Poonam Pandey is not being considered as the brand ambassador of the government's national campaign to spread awareness on cervical cancer, Union health ministry officials said on Wednesday.
'We like certain stocks from banking, insurance, retail, hospitals and capital goods.' 'Though some of these stocks may seem expensive, they will compound well over the long term, thus justifying their current multiples.'
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