A day after the Trinamool Congress said it was withdrawing support to the UPA government, in protest against the reform measures announced by the government, the Federation of Indian Chambers of Commerce and Industry held a press conference to buttress its views on the importance of sustained reform process.
India Inc on Friday said major announcements made by government, including operationalisation of 51 per cent FDI in multi-brand retail, are huge "mood lifters", besides dispelling the impression of any policy paralysis in the government.
He sought to know from the industry if it wanted India to become a no-tax country.
Industry houses are emphatic with the RBI pruning repo rate and CRR by 0.25 per cent each after a long nine months in its third quarter monetary policy review.
President A P J Abdul Kalam on Tuesday exhorted India Inc to improve its competitiveness so that its position is bettered at the competitive index from the present 50th to within the top ten globally.\n\n
Around $1.54 billion was raised by 60 companies through the automatic approval route, which does not require the approval of RBI or the government, while $520 million was raised by the Exim Bank under the approval route, to meet its lending requirements abroad.
Corporates understand that the PMO drives all key decisions in this government.
Amid opposition from the private sector to reserving jobs for SCs and STs, the government on Tuesday said it will not impose quotas on India Inc, but only wanted more "affirmative action" from the industry for the socially underprivileged.
They feel reducing policy rates will help to boost production and revive the economy.
In the first 10 months of CY07, Indian firms received orders worth Rs 128,147 crore.
Silent support for the movement, which has recently turned its guns against industry, has come from India Inc as well, mainly from Infosys founder N R Narayana Murthy, who made donations of Rs 25 lakhs (Rs 2.5 million) in 2011.
Continuing its upward march that began in 2001-02, the Business Confidence Index for October-December 2005 touched 151.4 points from 146 in July-September 2005, NCAER said in its report. \n\n
The earlier government was blamed for non-performance, the current one will be rightfully blamed for mismanagement
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.
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Q1 results indicate more pain ahead, as slowdown has spread to more sectors, pricing power has come down and rising interest cost is eating into profits.
In 2020-21, Indian firms offered to buy back shares worth Rs 39,295 crore, or 97% more than Rs 19,972 cr proposed in the previous financial year.
Analysts say that retail offers a big opportunity and acquisitions are a way to grow rapidly; there is also the need to deploy this money gainfully.
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
The Delhi high court on Monday sought responses from the Centre and the Competition Commission of India (CCI) on Apple Inc's plea challenging recent amendments to the Competition Act that allow penalties to be based on a company's global turnover.
Some companies say they will pass on the cost to customers.
Finance Minister Pranab Mukherjee on Tuesday admitted the Reserve Bank of India's move to hike short-term lending and borrowing rates will hurt growth in the near-term, but exuded confidence that economic expansion will gather pace later as a consequence.
India Inc could face problems in repaying their debts, posing risks to lenders, who will have to strengthen their monitoring of growing non-performing assets, warns an International Monetary Fund working paper.
Notwithstanding the recent hardening of interest rates and the impending slowdown in the US, India Inc expects to better its performance in 2007
According to staffing company Teamlease for the first quarter of this fiscal year, the overall net employment outlook index made a smart turnaround to recover lost ground.
India's economic growth remained subdued at 4.7 per cent in 2013-14 and at 4.6 per cent in the fourth quarter of the financial year, mainly due to a decline in manufacturing and mining output.
Not surprisingly, equity investors are bidding-up stock prices across sectors and the broader market is now more valuable than pre-Covid levels.
