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Net profit grew 25.4% in Q4 but revenue growth, lower at 8.5%, suggests lack of volume expansion.
Wishlist for new PM includes growth boosters, reining in inflation, faster project clearance and reversal of Land Acquisition Act
Passenger fares and freight rates were left untouched
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
Assocham estimates offices are facing staff crunches of 15 to 25 per cent with the various strains of fever.
PayPal Payments Pvt Ltd (PayPal), the Indian subsidiary of PayPal Holdings Inc, has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregatorross Borderxports (PA-CB-E). This marks a key milestone in PayPal's operations in India and its continued support for Indian small businesses, enabling secure cross-border payments to approximately 200 markets, the company said in a statement.
India Inc seems to be in top gear when it comes to raising funds from the domestic and overseas markets with plans to accumulate over 10 billion dollars in the month of June alone.
The Karnataka high court has granted an interim stay on criminal proceedings initiated against Bharatiya Janata Party leader Amit Malviya and Republic TV's Editor-in-Chief Arnab Goswami, in connection with allegations of spreading false claims that the Indian National Congress (INC) operates an office in Istanbul, Turkiye.
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.
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
One of India Inc's top demands is the abolishing of the MAT.
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 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.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
Some big ones hoard cash unduly and others borrow to keep up payments to shareholders
The Boxing Federation of India (BFI) elections have been put on hold after conflicting orders from the Delhi and Himachal Pradesh High Courts.
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
Average global growth prospects for the next 12 months and the next three years are 35 per cent and 49 per cent, respectively.
Decisions taken during the meeting of Prime Minister Narendra Modi and US President Barack Obama will take the bilateral strategic ties to an "altogether new high", India Inc said.
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
Vi partners SpaceX-rival AST SpaceMobile for satcom service on smartphones
Companies put in strict disclosure, job switch clauses in HR policies.
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.
An first information report (FIR) was registered on Tuesday against Bharatiya Janata Party IT cell head Amit Malviya and Editor-in-Chief of Republic TV, Arnab Goswami for allegedly running false information, police said.
Welcoming the launch of the Bharatiya Mahila Bank, India Inc on Wednesday said the initiative will propel women's financial inclusion, encourage female entrepreneurs and empower women in the country.
Ahead of the Budget, India Inc has asked Centre to up divestment target to at least Rs 25,000 crore (Rs 250 billion).
Yes Bank said it is set to unveil a branch to be operated exclusively by women.
India Inc created a new record by mobilising Rs 24,993 crore (Rs 249.93 billion) in FY06-07, which is higher by as much as 5 per cent compared with the previous year's Rs 23,676 crore (Rs 236.76 billion).
Industry leaders, including Mahindra Group chairman Anand Mahindra, RPG Enterprises chairman Harsh Goenka and Biocon Ltd chairperson Kiran Mazumdar-Shaw on Monday came out in support of the Agnipath scheme, saying it has large potential for employment of youth in the corporate sector. Mahindra also expressed dismay over the violence against the scheme while asserting that the farm equipment to aerospace conglomerate welcomes the opportunity to recruit trained, capable and young people under the programme. The Agnipath scheme, announced on June 14, provides for the recruitment of youths between the age bracket of 17-and-half years to 21 for only four years with a provision to retain 25 per cent of them for 15 more years.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
In a survey by BS reporters across India, a majority of the 25 CEOs who responded said they expected the FM to introduce amendments to the I-T Act which would reduce litigation in tax disputes between firms and the revenue authorities.
'Raghuram Rajan's contribution to the country's economy is "exemplary" and he would always be remembered for his outstanding work.'
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
Following the disruption in the supply of rare earth or permanent magnets after China's notification on April 4, the mines ministry is planning to introduce a Rs 1,500 crore incentive scheme to recycle critical minerals, according to a top official.
Foreign banks and private credit funds are queuing up to fund acquisitions by Indian companies who are buying out their local rivals. The Adani Group, Torrent Group, and the Hindujas have approached several foreign banks and private equity (PE) firms to fund their acquisitions. Global investors have about $2 trillion of funds to invest, and about $100 to $150 billion is set aside for India, according to an estimate by JP Morgan.
India Inc on Monday said the policymakers in the country must ensure corrective measures at the earliest to rebuild investor confidence.
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