Industry chamber Confederation of Indian Industry said successive hikes in interest rates have had a dampening impact on industrial growth.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
Indian pharmaceutical companies may have units abroad as part of "distributed manufacturing" across various locations, according to industry veterans. This may come about over the next five to 10 years.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
The handsome 25 per cent rise in corporate profits in the September quarter amid a sharp contraction in GDP was on the back of wage squeezes, leading to rise in inequalities in India, economist Nouriel Roubini said on Thursday. This rising inequality is "dangerous" politically and socially because only a few people in the economy are benefitting, the economics professor at New York's Stern School of Business said. Roubini said earnings of listed entities have risen 25 per cent in the September quarter, which means that wages and income are getting "squeezed, if not collapsed".
Congratulating Narendra Modi on becoming the Prime Minister, India Inc on Monday said it is looking forward to an era of renewed trust and expressed confidence that the nation will leapfrog into a higher orbit of growth creating more jobs, income and social stability.
Around 75 per cent of total returns are expected to be e-filed in current year.
Declining interest rates, a near-normal monsoon leading to higher rural incomes and pay hikes for central government employees are key triggers, says Dev Chatterjee.
Assocham told Modi policy makers needed to act fast to "bullet proof" India from global jitters.
Trade unions have called for a nation-wide strike on September 2.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
The survey revealed that unethical behaviour still persists, with a majority of respondents justifying unfair actions undertaken to survive the economic downturn.
Equity investors should thank cash-rich biggies such as TCS, ITC, HUL, Nestl, and Bajaj Auto for this.
The industry also emphasised on supply-side interventions by the government to tackle persistently high food inflation.
Inflation dipped to a five-month low of 5.19 per cent in July mainly on account of decline in prices of some food articles, vegetables and protein rich items.
While salary growth may range from a marginally positive to stagnant or even negative, the increment for some of the "super-specialised" profiles can go beyond 15%.
Industry bodies said the decisions will help attract much-needed capital, create jobs, encourage collaboration and benefit cash-starved small and medium enterprises.
In order for life insurance customers to attain maximum benefits, it is crucial for the persistency ratio to be far higher than its current level, top executives of the industry said at the Business Standard BFSI Insight Summit on Thursday. The persistency ratio is a metric that measures the number of policyholders who continue paying renewal premium and is gauged at varying stages in the life of a policy. A higher persistency ratio is seen as an indicator of an insurance product that caters satisfactorily to the needs of a customer.
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.
For debt-laden companies, asset sales is an obvious solution.
Many corporate figures, who are not full-fledged businessmen, have felt the need to make a change in the system. That's why they are joining the AAP, Captain Gopinath tells Rediff.com's Vicky Nanjappa
144 companies will pay Rs 61,087 crore in equity dividends to their shareholders for FY16, an increase of 19.2 per cent year-on-year
Reversing a six month declining trend, WPI inflation moved up marginally to 0.11 per cent in December mainly because of increase in prices of food items.
India Inc has expressed strong displeasure over the Delhi government's decision to withdraw approval to FDI in multi-brand retail, saying the move was likely to hinder foreign investments flowing into the country.
In order to boost growth amid some softening of inflation, RBI earlier this month cut the key interest rate by 0.25 per cent. It is scheduled to announce its mid-quarter policy review on June 17.
The growing caution among hospitals is being driven by a rise in double-extortion ransomware attacks, AI-enabled phishing, deepfake fraud, and vulnerabilities in connected medical devices.
India Inc needs to tighten norms against sexual harassment at work.
Around 67 per cent respondents see the rupee to be at or below 60 for FY'15.
Emphasising that revival of growth should be the number one priority of the RBI at this time, industry groups said apprehensions about inflation rearing its head again may prove to be misplaced.
The United States has imposed sanctions on at least half a dozen Indian companies accused of trading in Iranian petroleum and petrochemicals as part of broader action targeting 20 entities worldwide.
The diplomatic exercise aimed at presenting India's stance against Pakistan on terror comes in the wake of Operation Sindoor -- the Indian offensive against terror camps in Pakistan and Pakistan-occupied Kashmir following the April 22 terror attack in Pahalgam in which 26 people, mostly tourists, were killed.
The Congress party announced its intention to challenge the constitutionality of the recently passed Wakf (Amendment) Bill, 2024 in the Supreme Court. AICC general secretary Jairam Ramesh stated that the party will "very soon" file a petition, citing concerns about the bill's impact on constitutional principles. Ramesh highlighted the Congress's ongoing legal challenges against other legislation, including the Citizenship Amendment Act (CAA), amendments to the Right to Information (RTI) Act, and changes to the Conduct of Election Rules. He emphasized the party's commitment to defending the Constitution's principles, provisions, and practices.
Companies, so far, were constrained by the provisions of Articles 370 and 35A, which restricted the purchase of land and hiring manpower.
Terming the rise in October retail inflation despite a bumper crop as "disturbing", India Inc said the government must immediately address supply side bottlenecks to bring down the consumer price inflation.
The status quo decision came as a breather as only last week the RBI had pulled up banks for not helping it in monetary policy transmission.
Budget in the medium term aims to kick-start the investment cycle.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
Pressure has been mounting on the Reserve Bank of India to cut interest rates in the wake of declining retail inflation and the need to fuel growth momentum. However, the RBI will have to do a tightrope walk as globally interest rates are inching upwards.
The Boxing Federation of India (BFI) elections have been put on hold after conflicting orders from the Delhi and Himachal Pradesh High Courts.
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