While companies have not launched too many products in rural areas of late, easy financing has helped push up demand.
The government has already notified 28 accounting standards for Indian corporates and would assess more standards for notification, an official release said. "The government would examine further accounting standards to be followed by companies, on the basis of the standards proposed by ICAI, subject to the recommendations of NACAS thereon, for notification in accordance with the procedure laid down under the Companies Act, 1956," it said.
Congress president Mallikarjun Kharge and former party chief Rahul Gandhi, who were present at the meeting, asked party leaders to remain united and connected with the people, sources said.
On Children's Day, the President showered his blessings and wishes on children, saying that the future of the nation depends on them.
In its latest report for the office market, property consultant Cushman and Wakefield said the total seats leased by enterprises could cross 50,000 during the 2021 calendar year. Enterprises had leased 18,213 seats in the first six months of the 2020 calendar year and 36,255 desks during the entire last year.
India Inc on Tuesday expressed disappointment over the Reserve Bank increasing the key rate by 0.25 per cent and hoped that banks would refrain from hiking lending rates as such a move will scuttle economic recovery.
India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. If the government has to consider providing incentives then it will only be for all EV makers and entrants who want to come to India, the official said. The official added that inter-ministerial discussions have happened on the customs duty concession demand of the US-based electric car maker Tesla, but "we never" came to any conclusion on those.
The charm of foreign shores as source of funds is getting stronger in India, with domestic firms already having raised over $13 billion (Rs 60,837 crore) from global debt markets, surpassing the 2005-figure.
iPhone-maker Apple Inc on Tuesday said it does not attribute threat notifications, such as the ones received by some MPs belonging to Opposition parties, to any specific state-sponsored attackers and that it cannot provide information on what causes such warnings.
India Inc hailed the Railway Bugdet on Monday as promising and said measures, especially those on containers and freight services, will not only help the industry but benefit the general public as well.
India Inc's quarterly profit registered its biggest drop since the stock market regulator made it mandatory for firms to announce quarterly results in March 1998.
Apple Inc has announced the India prices of the new variants of its bestselling smartphones - launched on Tuesday - as it assembles the device in the country. The new iPhone 15 range starts at Rs 79,900 for the 128 GB variant (the same price as the iPhone 14 when it was launched last year) and goes up to Rs 199,900 for the top-end Pro Max with a 6.7 inch screen and 1 TB (terabyte) storage. The world's most valuable company also launched three new upgraded Apple watches, starting with the SE at Rs 29,900 and going up to Ultra 2 at Rs 89,900.
Tesla Inc chief Elon Musk is set to acquire micro-blogging site Twitter for about $44 billion. Back home, India Inc, too, is seeing aggressive merger and acquisition (M&A) activity with PVR-Inox and HDFC-HDFC Bank announcing their mergers recently. While Axis Bank recently acquired Citi India's India retail business, reports suggest Larsen & Toubro Infotech (LTI) and Mindtree could be eyeing a merger.
Naukri.com's monthly Job Speak index declined to 701 in August as compared to 727 in July, recording a drop of 3.6 per cent. However, the three-month moving average index indicates a positive trend and has inched up by 1.7 per cent to 715 in August from 703 in July.
India Inc's fund raising spree for expansion and growth plans has pushed up the figure of loans gathered by companies to a record $7.3 billion (about Rs 29,600 crore) so far this year, a latest report says.
'Historically, the markets tend to perform well during election years as governments aim to increase spending and call attention to growth.'
Passenger fares and freight rates were left untouched
Mumbai collected Rs 17,174 crore of advance taxes against Rs 7,356 crore in the same period last year. The tax authorities believe that such a staggering growth rate is a positive sign for the economy.
In his first interaction with business leaders after becoming Congress vice president, Rahul Gandhi urged India Inc to work together to build this brave, empowered new India. Here's the text of his speech
India Inc on Thursday rallied behind the Army's move to conduct surgical strikes on terror launch pads across the Line of Control and said it was the time to act tough while ruling out any negative impact on the country's economy and trade.
Stresses on need to boost investor sentiment through stable regulation.
At a time when the global job scenario is gloomy, India Inc is expected to increase salaries up to eight per cent this year with infrastructure and FMCG sectors likely to see the maximum hikes, global HR consultancy Mercer says.
A robust growth in revenue notwithstanding, analysts are sceptical about the first report card of India Inc in the current fiscal and expect the continuing cost pressures to lead to a fall in their first quarter profitability.
Service Tax Commissioner Gautam Bhattacharya asked India Inc to be more pro-active in sharing inputs with government officials.
India has become the second biggest borrower in Asia Pacific by borrowing over $3.7 billion for project financing since the beginning of 2006, taking a big jump from its 10th position last year.
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
President A P J Abdul Kalam on Wednesday called upon India Inc to come together and create a separate rural development fund for bridging the urban and rural divide.
According to assurance, tax and advisory firm Grant Thornton, corporates in the country announced 458 deals in the January-November period amounting to $26.76 billion.
India Inc on Thursday expressed fear that the RBI's decision to raise key short-term rates will push up the cost of borrowing, making some of their projects unviable and hurting expansion plans.
The government has unleashed a slew of reforms to attract greater investments including higher foreign direct investment in defence and opening up the railways infrastructure sector, relaxed labour laws, launched campaigns like the Make in India for re-invigorating manufacturing, Clean India and Digital India, among others.
'A cutback in hiring and compensation growth by IT companies will have a significant impact on consumer demand, especially in the urban sector of the economy.'
It works like this. There is a section in the US called 144A securities, which was launched in August 15, 2007. Trading in 144A securities takes place only among qualified brokers, dealers and QIBs. Retail investors cannot participate in this segment.
Aggregate figures for a sample of 43 companies (excluding oil & gas PSUs as well as those in the banking, telecom and software sectors) in the BSE 100 index suggest that operating profit margins (OPMs) were down by 63 basis points (bps) year-on-year in the December quarter and that there appears to be no major causes for concern.
While some such as Hindalco, JSW Steel, India Cements, Essar Oil, Tata Steel and Jet Airways have already announced plans to raise a combined Rs 70,000 crore, there are many who are redrawing proposals to enter the market to raise money.
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