India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
It has been a slow year for the Indian media and entertainment (M&E) business. After two years of double-digit growth, it grew at just about 8 per cent in 2023 over 2022. It now stands at Rs 2.33 trillion in advertising and pay revenues.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
India's first-ever Olympic medallist in women's boxing Mary Kom has been honoured with the Global Indian Icon of the Year award at the annual UK-India Awards in Windsor.
Among the sectors seen as most vulnerable to corruption are the government and the public sector, infrastructure, real estate, metals, mining, aerospace, defence, power and utilities.
'You have to explain to them about Indian investments in the US creating jobs this reverse outsourcing'
Inflation, remained in negative territory for the 7th month in May
'One of the aspects for transparency and fair governance is to give the industry being represented the chance of lobbying with the regulator.'
With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to "neutral" from "withdrawal of accommodation", according to economists. In his speech on Thursday during the annual event of the Federation of Indian Chambers of Commerce and Industry-Indian Banks' Association, RBI Governor Shaktikanta Das said: "The balance between inflation and growth is well-poised."
Australian Minister for Immigration and Citizenship Chris Bowen on Wednesday said that reasons like the high cost of Australian dollar have resulted in decline in request for student visas from India
The survey was commissioned by the Singapore Indian Chamber of Commerce and Industry, to better understand the Indian business community in Kuala Lumpur. While 70 per cent of respondents reported slower sales in the last quarter of 2008, only one in 10 complained of insufficient cash flow, Singapore's daily Straits Times said.
The AAP government withdrew the approval given by the Sheila Dikshit-led government on allowing FDI in multibrand retail in Delhi.
India's business leaders have reacted strongly to government opposition to the opening up of higher education to private investment that might help millions of young people.
Federation of Indian Chambers of Commerce and Industry on Wednesday asked the US to restore the Generalised System of Preferences for Indian exports of chemicals and allied products.\n\n\n\n
Indian real estate developers, enjoying boom times, want your capital.
Following the disengagement, both sides will soon start the coordinated patrolling in their respective areas, sources added.
60 per cent of the companies reported improved industry performance at present, compared to the last six months.
The government is trying through industry chambers to get corporate world incorporate data on SC/ST recruitment, Social Justice and Empowerment Minister Mukul Wasnik told Rajya Sabha on Thursday.
Private labels remain big business for e-commerce marketplaces. They comprise almost 15 per cent of the total business of such firms.
Increase in the value of Rupee combined with rising interest rates has resulted in erosion of profitability and competitiveness of Indian exports by up to 12 per cent, according to a report by Ficci.
The 49-year-old entrepreneur oversees the media and real estate arm of Dempo Industries as its executive director.
'This is because earlier we didn't have any ministry. People came, spoke and went away. There was no follow-up. But the two PBDs have focussed on the problems,' says Jagdish Tytler.
Sharma, who has been regularly reviewing the situation with senior officials, has expressed concern over the drop in industrial performance in the recent months, the statement said.
Indian companies could get major sub-contracts in Iraq reconstruction projects worth $20 billion next year, according to the Federation of Indian Chambers of Commerce and Industry.\n\n\n\n
Indian companies, led by the Tata group, Essar and HCL Technologies, among others, have created more than 30,000 jobs and made large investments in the United States, a joint report of the Federation of Indian Chambers of Commerce and Industry and the US India Business Council said.
Canada has started stressing on education as a trade catalyst with colleges and universities traveling to India and other countries in increasingly large numbers for recruiting students and faculty, signing agreements with foreign universities to work in close partnerships, opening satellite campuses in India, and offering joint degrees.
Country's apex business chambers -- CII, Ficci and Assocham -- have said the WTO draft on Non-Agriculture Market Access under the Doha Round of trade talks was in complete disregard to the mandate of the round, which had to revolve around lesser obligation on the developing countries for duty reduction.
The Bilateral Aviation Safety Agreement, the civil nuclear technology transfer, telecom infrastructure security and business jet landing rights are among other "policy accomplishments in 2011" listed on the US chamber's website.
India's merchandise exports in April 2024 marginally rose to $34.99 billion from $34.62 billion in the year-ago month, according to government data released on Wednesday. Imports too increased to $54.09 billion from $49.06 billion in April 2023.
'What stood out at these meetings between industry representatives and government leaders was how the equation between the ministers and industry had undergone a subtle and qualitative change,' points out A K Bhattacharya.
Iran's Finance Minister was here. And he lists the reasons why is country holds great promise for Indian companies willing to do business with his country.
Finance Minister P Chidambaram is likely to meet captains of Indian industry on June 17 so that 12 per cent growth can be achieved in the manufacturing sector.
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
The Indian banks are not prepared to implement the stringent Basel-II norms including that of capital adequacy and non-performing assets in toto by 2006, according to the Federation of Indian Chambers of Commerce and Industry survey.
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