With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
According to the report, published on Tuesday, the event's prize money of $4.2 million is much more than the combined prize money of all other sports leagues in the country.
A recent survey done by indianboards.com suggests that around 283 directors will retire by October this year.
With more than 100 crore mobile phones in circulation, nearly 25 per cent end up in e-waste annually
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
'If a stranger refuses to pet my Russian dog, what treatment can I expect for myself?'
Let's take a look at effective income tax and Social Security rates on $100,000 of gross income around the world.
The decision to allow students to pursue two degrees simultaneously will boost their employability as it gives them the opportunity to concentrate on one mainstream undergraduate degree while enrolling in another with a vocational focus.
As many as seven firms, including JM Financial, Ernst and Young and Deloitte, have bid for managing the strategic sale of IDBI Bank. These firms would make a virtual presentation before the Department of Investment and Public Asset Management, which is handling the sale process, on August 10, according to a notice by DIPAM. The firms that have bid for acting as transaction advisor are Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, ICICI Securities, JM Financial Ltd, KPMG, RBSA Capital Advisors LLP and SBI Capital Markets.
From anti-profiteering to affixing stickers on existing stocks, FMCG companies are bracing for new set of GST challenges
Most of the unicorns or billion-dollar valuation firms including Flipkart, Paytm and Ola have had the maximum stakes owned by foreign funds. The founders of all these firms have either single digit stakes in their companies or in low double digits.
Experts believe MNCs, which look for a strong foothold in the Indian kitchen appliances space, target the leading organised players in the industry.
Companies that have a net worth of at least Rs 500 crore, a turnover of Rs 1,000 crore or a net profit of Rs 5 crore are required to spend 2 per cent of their net profits on corporate social responsibility programmes.
E-way bill generation, which is related to paying Goods and Services Tax (GST) and a key high-frequency indicator of economic activity, may have fallen to a five-month low in April as more cities experience lockdowns due to a surge in Covid-19 cases. In April e-way bill generation may decline to 55-58 million, which is the lowest since at least November. On the higher side, it is a 17 per cent decline over March.
Google has emerged as top choice in the Top 100 Ideal Employer Rankings in a survey conducted among Indian management and engineering students.
Amber Dubey explains why India needs to stop blocking competition if it ever wants to become the top aviation market.
Despite the inherent attractiveness of the rural market for telecom operators various challenges still mar their entry.
India has average monthly spends of $4 per user; it is over $20 in other Asian markets
The face of MNC drug firms in India and champion of IPR protection, he oversaw the Swiss giant's India expansion, its forays into new therapies and setting up of its global service centre in Hyderabad
The United States Agency for International Development will provide a $10 million technical aid for development of Indian insurance sector over the next four years.\n\n\n\n
Delhi Metro, Yamuna-expressway and Tata Power's Mundra ultra mega power project in Gujarat are among the six ventures that have figured in the list of world's most innovative, impactful infrastructure projects prepared by international accounting firm KPMG.
More than 1,000 independent directors have quit since January 2017; more could be on their way out
The government decision to cap sales by cash-and-carry players to their group front-end companies at 25 per cent of overall sales can force these wholesalers to reduce their investment plans by around Rs 800 crore (Rs 8 billion) in the immediate term, consultancy firm KPMG said.
As infrastructure, power hardly deal in cash, its paucity has failed to affect their receivables
How do you motivate the motivators? How do you teach leadership to leaders?
He is the first Indian-origin person to head a 'Big-Four' audit co.
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
Nike has been present in India since 1996.
Starting April 1, a non-executive director of 75 years or more can be appointed or re-appointed only by way of a special resolution, which requires 75 per cent 'for' votes.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
Ghost beneficiaries aren't the only kind of issue companies face during a period of unprecedented CSR spending, touching nearly Rs 12,000 crore in 2018-19. Frauds related to procurement, construction, and end-use of funds have had companies engaging forensic auditors to keep tabs on how money is spent, revealed conversations with those involved in such investigations. Firms are also increasingly strengthening their own capabilities to better implement their programmes.
'Maybe it's time for Plan B for the film industry.'
Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. The deal comes days after Zomato had raised USD 150 million in funding from existing investor Ant Financial, an Alibaba affiliate, at a USD 3 billion valuation.
On the heels of the Reserve Bank of India making out a case for better pay packages for PSU bankers, global consultancy KPMG said that not only senior personnel, but non -executive directors, too, should be paid salaries on par with their private sector counterparts.
Delays in implementing power projects, mainly due to fuel issues, could turn Rs 1 lakh crore of bank loans into NPAs if prompt action is not taken, according to a study by KPMG.
Retailers present in India are in talks with Carrefour to buy its assets piecemeal, rather than the whole business.
Experts hail Budget 2015 as a progressive, growth oriented one.
Several big budget movies, including one for Rs 300 crore on Karna and another Rs 1,000 crore movie based on Bhima, have been launched on the same model.
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