The Department of Treasury has finally responded to a letter by a coalition of Indian-American organisations, led by the Global Organisation of People of Indian Origin (GOPIO), but reiterated the Internal Revenue Service warning that there will be no extension of the August 31, 2011, deadline for the Offshore Voluntary Disclosure Initiative.
Gift Nifty will provide Indian investors cues on how domestic markets could react to global events.
The state with the most people has displaced the state with the largest economy in terms of investor additions. Uttar Pradesh (UP) added 126,000 new investors in April, reveals National Stock Exchange (NSE) disclosures. This is higher than Maharashtra's 118,000. Maharashtra, which is home to India's financial capital of Mumbai, has traditionally been the biggest source of investors.
The decision was taken after Prime Minister Narendra Modi announced that the lockdown across the country will be extended till May 3 to fight the coronavirus pandemic.
The changes in the domestic and global economy following the outbreak of the Covid-19 pandemic are altering the corporate profit league table in India. Reliance Industries (RIL), which topped the India Inc profit chart for more than a decade, lost out to State Bank of India (SBI) in the 2023-24 (FY24) April-June quarter (first quarter, or Q1). India's biggest lender reported a consolidated net profit (adjusted for exceptional gains and losses) of Rs 66,860 crore during the trailing 12-month (TTM) ended in June this year, ahead of RIL's TTM adjusted net profit of Rs 64,758 crore in the quarter.
State run MTNL has taken to the franchise route to sell its 3G services in Delhi and Mumbai and has floated a global Expression of Interest for 3G Services Franchisee.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
Now that Sindhu has joined the revenue service in the AP government, there are chances of her being inducted into the Indian Administrative Service seven or eight years down the line.
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
Equity benchmark indices Sensex and Nifty buckled under selling pressure after a nine-session rally on Monday, as massive sell-off in IT, tech and telecom counters unnerved investors.
A fresh wave of foreign business is rolling in for India's software industry, where low salary costs and a skilled, English-speaking workforce have made the country a world leader.
Telecom infrastructure player Indus Towers has been largely ignored by investors with occasional bursts of trading when there's news flow. For example, the stock fell from Rs 188 (Jan 1, 2023) to Rs 135 (Jan 27) and then bounced back to Rs 165 in early February as the Government of India (GoI) converted Vodafone Idea's (Vi) debt into equity and Bharti Airtel pushed up its direct stake in Indus to 47.95 per cent. The cash-strapped Vi holds 21 per cent stake in Indus Towers and Indus also has substantial receivables to come in from Vi which is a negative overhang.
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
Visa delays have perturbed Indian visitors this summer. But a solution could be in sight soon, as embassies gear up to address the challenges caused by a spike in applications and staff shortages. While the British High Commission has said it is working urgently to reduce the current visa processing time, the German Embassy has introduced extra shifts to process more visas. However, appointments with the latter are fully booked till August-end due to high volumes.
While domestic IT companies post revenue growth of 38%, their counterparts register faster rise: Gartner.
The deceased, Ashish Dahiya, was a resident of Sonipat, Haryana and was attending a pool side party with friends from the Indian foreign and revenue services.
Single Indians will continue to meet prospects over video calls even in a post coronavirus world, predicts Saurabh Goswami, founder-director, Ultra Rich Match, an online matchmaking company.
Balakrishnan refused to react to the India Inc criticism of growing incidents of tax terrorism following Siddhartha's letter. Appearing unfazed, he said, "I only believe in doing my job well."
Businesspersons who have the potential to contribute to the economy of a country are given a red carpet welcome by way of a start-up visa.
Colonel Ajay Kothiyal, Kirti Chakra, Shaurya Chakra, is one of the most decorated soldiers to join politics. He still has two bullets lodged inside his body sustained in a gun battle with terrorists in J&K.
Indian cities need $840 bn investment over 15 yrs, says World Bank report.
Elliott Capital's letter to Cognizant, detailing how the latter can reinvent itself, has many lessons for its India-listed peers like TCS and Infosys, says Akash Prakash.
Indian information technology companies are making a huge splash all across the world.
The retail industry witnessed robust top-line growth for the greater part of the previous financial year, but demand has started to show signs of fatigue seen in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23), especially in the apparel and innerwear segments. Jewellery, however, has managed to hold on to demand in the quarter. "In the discretionary space, demand moderation in urban markets is expected to impact the quick-service restaurant and apparel categories the most, while paint, luggage, and jewellery should see resilient growth," Systematic Institutional Equities observed in its preview of the sector.
RIL's bet on burgeoning consumer base and foray into new businesses such as telecom, retail, and digital services vastly expanded its business
The recently promoted Commissioners will now take charge and ensure faster work.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
The way video is being watched and monetised is changing. This is the first thing that stands out as the penetration of smart TVs continues to rise.
There hasn't been any dramatic moment in the first act (the Budget) but nobody would complain. It's par for the course as long as the figures don't change in the main Budget, which will be presented after general elections.
The anti-corruption watchdog posts have been vacant for the last nine months.
'In Eastern Ladakh the Chinese attempted salami slicing.' 'Our response has been superb. Our military has responded magnificently.'
The instructions cite service rules that bar any government servant from making any adverse criticism of any policy or action of the government.
The broking industry's pecking order is set to change with Groww, a fin-tech startup from Bengaluru, poised to topple the industry's poster boy, Zerodha, as the leading brokerage in the number of active investors. According to data provided by the portal Topsharebrokers.com, Zerodha has 6.32 million active investors, while Groww is at 5.99 million. It is projected that Groww, which has grown at a much faster clip over the past two years, will surpass Zerodha this month, or next month.
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we are facing a situation of empty coffers but eagerness to expand.
...current industry models will soon fade out, notes Ajit Balakrishnan.
Finance Minister Pranab Mukherjee earlier this month approved the proposal for deputing the officials at the Paris-headquartered body as advisors.
An aggressive rate hike by the US Fed and the possibility of a recession can trigger a slide in these stocks, which will be a good opportunity to buy from a long-term perspective.
