Now they are reinventing their strategies to stay afloat, as they see no sign of recovery for at least six months.
These companies had threatened to leave Maharashtra and invest in other states when the state government had brought amendments to the Maharashtra VAT Act with effect from April 1, 2011, and made net sales the basis for VAT set-off claims.
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
India has been a tea sipping society. But the aromatic wave of coffee culture is wafting across it.
Billionaire and Mahindra Group chairman Anand Mahindra along with top Silicon Valley investors Naval Ravikant and Balaji Srinivasan are backing space tech start-up Agnikul as part of a new funding round. Chennai-based Agnikul said, on Thursday, that it has raised $11 million in Series A funding round led by Mayfield India. It is the largest funding round for a private Indian space technology company in the country. Existing investors pi Ventures, Speciale Invest and Artha Venture Fund also invested in this round.
You could be forgiven for thinking that Auto Expo was only about powerful cars and humongous bikes. There was so much else that was happening too, says Rajesh Karkera.
Poor disclosure among India-listed firms is a turnoff for foreign investors.
US President Barack Obama's India visit, marked by "high-end symbolism", is a signal to businessmen of both countries to look for opportunities from each other, Mahindra Group Chairman and Managing Director Anand Mahindra has said.
The entry of SoftBank-backed Ola into the electric scooter (e-scooter) segment is set to power up the overall market and perhaps fast-track the adoption of battery-operated vehicles. But for manufacturers of internal combustion engine (ICE)-powered two-wheelers, such as Bajaj Auto, Hero MotoCorp, and TVS Motor, it will be a double whammy. Not only will they have to contend with the aggressive pricing of Ola's scooter and incur a loss at each unit of the e-scooter sold, the volumes of their regular (ICE) models, too, could feel the squeeze, observed analysts. Ola is expected to price its e-scooter in the range of Rs 85,000-1.1 lakh.
Sebi will be taking a number of measures to develop a derivatives market of commodities.
From FY18, Ind-AS will be mandatory for all listed entities, barring those listed on the SME platform.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
HCL Tech was the top gainer in the Sensex pack, rising over 2 per cent, followed by Infosys, Reliance Industries, Tech Mahindra, Bajaj Auto and M&M. On the other hand, IndusInd Bank, Kotak Bank Bank, Power Grid, Sun Pharma and Asian Paints were among the laggards.
A rebound in oil prices, FII outflows and concerns over current account deficit weighed on the domestic currency, pushing it to fresh life-time lows.
Presenting the Narendra Modi government's maiden Rail Budget, Railway Minister Sadananda Gowda announced setting up of logistic parks and private freight terminals on PPP model.
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.
The man with the golden arm could surpass some, if not all, top cricketers -- the demigods who stand well above athletes from other disciplines in India
A year ago, India's #MeToo movement witnessed women across India speak up against sexual harassment. Nikita Puri assesses what, if anything, has changed.
Mukesh Ambani said he had never seen any city decked up so strikingly as Lucknow
Some initial reactions to Prime Minister Narendra Modi's announcement of demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight.
Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
The industry players couldn't hide their disappointment.
Tamil Nadu Chief Minister Jayalalithaa credited Prime Minister Narendra Modi with spearheading investor-friendly initiatives, saying it will "enthuse" businesses planning to invest in states.
There is no immediate plan, either in terms of employees or branches, said Uday Kotak on the merger deal.
A strong showing will be vital to Narendra Modi's chances of a second term.
Meet a Mumbai couple whose hearts are so big that they emptied out their entire savings to help feed the poor and needy during the COVID-19 pandemic.
Satyam's employees had to undergo mental trauma, job uncertainty and financial problems, after many were forced to leave.
A group of high-powered individuals led by Anand Mahindra have come together to set up Krea university. The campus is expected to be ready by 2019 and the first batch of 100 to 125 students will commence classes in August next year.
'They are geopolitical, commercial, educational, cultural and about innovation.' 'Also, they are about a common value system.'
The previous high in quarterly GDP growth was recorded in the January-March quarter of 2015-16 at 9.3 per cent.
Over the past year we have heard a lot about policy reforms to improve the ease of doing business in India.
The WEF meeting is crucial because of its theme encompassing globalisation at the time of rising nationalism and trade war, and the fourth industrial revolution due to rapid strides being made in robotics and artificial intelligence.
Delhi and neighbouring Noida in Uttar Pradesh, too, are studying Gurgaon's no-car Tuesday model.
'The economy will pick up in 2020 or a little later... When it picks up, will it reach 10%, 8% or still lower? It all depends on how realistic are the diagnosis and the prescriptions that follow,' says Professor K J Joseph.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
'Why was PKL scheduled bang in the middle of festivals and big film releases?' asks Vanita Kohli-Khandekar.
Shares of Yes Bank may face selling pressure as the Reserve Bank-mandated three-year lock-in period for individual investors and exchange-traded funds is ending on Monday, according to analysts. The analysts expect distress on the bank counter on Monday as they expect investors, primarily the nine banks led by State Bank, which picked up almost 49 per cent of its stocks in March 2020 for Rs 10 per share -- at a premium of Rs 8 on the face value as part of the RBI bailout, making an exit. Exchange-traded funds are also likely to press the exit button.
South Korean President Park Geun-hye's visit to India will enhance economic and military ties between the two countries and give the relationship a strategic dimension, says Jiye Kim.
Hyundai, which is also toeing Maruti's lines, said special schemes are offered to engage the cab aggregators, including annual-maintenance-contract packages and extended warranty.
If tweets can do so much, why do we need an independent regulator and multiple committees discuss and recommend policy?
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