High interest rates have been discouraging fresh investments and dragged industrial production down for nearly two years now.
US-based electric vehicle maker Tesla is looking to source components worth around $1.9 billion this year against $1 billion last year, Commerce and Industry Minister Piyush Goyal said on Wednesday. The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector. "Tesla already last year bought one billion dollars of components from I think all of you sitting here.... I have the list of companies who supply to Tesla.
Apple is hoping to assemble in India 25 per cent of all iPhones produced globally to reduce its heavy dependence on China.
A new dimension will be added to the India's growth story by Bharti Airtel's acquisition of Kuwait's Zain Telecom, besides enhancing the country's brand equity
Walmart-owned digital payments app Phonepe on Thursday said it has raised $350 million at a valuation of $12 billion in a funding round led by private equity firm General Atlantic. "Marquee Global and Indian investors are also participating in the round," PhonePe said in a statement adding the investment marks the first tranche of an up to $1 billion total fundraise that commenced in January 2023. The fundraise follows PhonePe's recently announced change of domicile to India and full separation from Flipkart.
Industry sources told India Abroad they wouldn't shed any tears if the legislation died in the House.
The US Chamber of Commerce has written the President complaining of India's discrimination against a wide range of US exports.
Our caste warriors will not even ask these questions, let alone explore better solutions to address the problems of inequality and skewed life outcomes, argues R Jagannathan.
'If we want our economies to be strong, we need to invest in young people who are our future.'
This was even as the country's economy grew by 7.3%.
India Inc on Tuesday welcomed the 0.25 per cent interest rate cut by the Reserve Bank saying it would help revive confidence of industry and hoped for further cuts in the coming days.
Prices of key inputs up 44% to 74%; analysts expect earnings squeeze after a quarter or two.
With the exception of infra, IT & ITes - the employment outlook seems flat across sectors.
India Inc is seeking at least quarterly interactions with senior government representatives to establish a channel of communication and help change the opinion at the highest level.
Local residents say until about two months ago, this board carried the name of Motorola, which once had a manufacturing unit in Sriperumbudur, 40-odd km from Chennai in Tamil Nadu. In May 2020, Luxshare Precision Industry Co, a China-headquartered AirPods and iPhone assembler, had entered into a deal with the Tamil Nadu government to take over the defunct Motorola unit.
The US corporate world wanted India to address issues relating to foreign investment in infrastructure and insurance sectors.
Vikramaditya Singh had joined the PDP in August 2015 and was a member of the state Legislative Council.
India Inc expects huge business opportunities to open up with the Nuclear Supplier's Group sanctioning an India specific waiver on Saturday.
India Inc's initiative to adopt Industrial Training Institutes (ITIs) across the country is facing problems because of low level of cooperation on the field as well as red-tapism, industry lobby groups have claimed.
'The biggest risk to the Indian markets from a 12-18-month view is that the current government does not get re-elected, or loses in a way that is not represented at all in the next central government.'
Indian companies raised over $3.41 billion overseas in December through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), the Reserve Bank of India (RBI) has said.
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The debt-equity ratio was as high as 1.4 times the net worth as certificates of deposit and inter-corporate deposits gained popularity.
The move to ban Rs 500 and 1000 notes may not curb the root cause of black money.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
India Inc on Monday expressed optimism that the Congress-led government at the Centre would carry forward the reforms, and the stock market crash was a result of "complete nervousness" among investors, which would recede after the Common Minimum Prog
RBI has cut the rates thrice so far in 2015 by 25 bps each.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
Even as cyber threats continue to rise in India - the second-largest global active internet user base - the country is currently facing a big skill gap in the cybersecurity domain and represents just six per cent of global cybersecurity jobs, finds a report. As of May 2023, the industry had about 40,000 open opportunities, indicating the growing demand for skilled cybersecurity professionals. However, the demand-supply gap stood at 30 per cent, projecting a major skill challenge in the industry, finds the study by tech staffing firm TeamLease.
Prime Minister Narendra Modi is making his inaugural address on the 95th Annual Day of Indian Chamber of Commerce via video conferencing.
Corporate India lags the rest of its Western and Asian peers by a wide margin when it comes to the presence of women on their boards, with just 17.3 per cent of the large companies having them on their key decision making bodies, an international report said on Tuesday. However, this is a near 6 percentage points improvement between 2015 -- when it was only 11.4 per cent -- and 2021, Swiss brokerage Credit Suisse said in the report, which covered over 33,000 executives from more than 3,000 companies across 46 countries, including over 1,440 firms across 12 Asia-Pacific markets. Female representation on boards of large Indian companies has increased by 5.9 percentage points from 11.4 per cent in 2015 to 17.3 per cent in 2021.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
The Election Commission on Monday asked the Karnataka Bharatiya Janata Party to provide "verifiable and traceable" facts by Tuesday evening regarding its newspaper advertisement describing the Congress as "the most corrupt party in the world".
In the first half of 2008, Indian companies accounted for a total of 34 US-bound acquisitions worth over $5.1 billion, US-based Virtus Global Partners said in its latest report on US bound acquisition by Indian companies. However, the volume of deals dropped 15 per cent to 34, from 40 in the H1 of 2007. Over 70 per cent of the transactions involved acquisition of 100 per cent stock for cash consideration.
"It is a fair assumption that INC possesses the material/empirical/verifiable evidence based on which these specific/explicit 'facts' have been published, an action which can fairly be assessed to embed knowledge, motive and intent to do so by the author," the EC notice read.
Several fiscal and monetary incentives since December 2008 helped the industry to recover into a growth trajectory. The 10 per cent plus growth in manufacturing, basic goods, mining, electricity has been buoyed by these measures, Confederation of Indian Industry said.
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