Citing unviable duty structure on key components like flat panels and open cell parts, Samsung had shuttered its TV assembly lines in Tamil Nadu in 2018.
According to officials, the list of 101 items includes towed artillery guns, short range surface to air missiles, cruise missiles, offshore patrol vessels, electronic warfare systems, next generation missile vessels, floating dock, anti-submarine rocket launchers and short range maritime reconnaissance aircraft.
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit. In a tweet, Vedanta chairman Anil Agarwal said, "Q2 #GDP numbers show that economy is recovering. Government's efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22."
The department of health said 29,474 people have tested positive for the virus, an increase of 4,324 cases since Tuesday, as the country remains under lockdown with the government's advice for people to stay at home and observe strict social distancing when outside for exercising or buying essentials.
'They are starting to move more quickly and we would just like to continue to see bold action being taken.'
'There is no doubt at all that Jio's disruption of the mobile broadband market was a turning point for India's digital economy.'
The labour-intensive sector contributes about 15 per cent of the country's overall exports.
'Though I welcome the reduction of tax rates for corporates, I wonder why the benefits have been restricted to corporates and not to other business entities such as limited liability partnerships and partnership firms. This needs consideration', says Dinesh Kanabar.
Many firms have asked those joining on April 1 to delay their on-boarding by 2-3 months. The outlook for the airline, tourism, hotel, and media industries is bleak too.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
INS Karanj is the third Kalavari-class submarine to be commissioned into the Navy. The diesel-electric submarines based on the Scorpene design are also referred as Scorpene class submarines.
According to BCM, Hyderabad-headquartered BE has licensed the recombinant protein Covid-19 vaccine candidate developed at Baylor.
The lawsuit seeks to overturn these sweeping and unlawful immigration restrictions that are an unequivocal not welcome sign to the engineers, executives, IT experts, doctors, nurses, and other critical workers who help drive the American economy.
The MG Motor India management is focused on scaling up and launching smaller cars to play the long game in the country, says Pavan Lall.
The best available recourse to keep the defence sector healthy, is to source most of our requirement within the country so that procurement outlays under both the Revenue and Capital heads flow within the country, recommends says Brigadier S K Chatterji (retd).
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
SEZs account for just about a third of India's merchandise exports (and roughly the same proportion of services exports). Yet, the notion of creating global manufacturing centres of the kind that propelled China to superpowerdom retains a durable appeal within the Indian policy-making establishment, notes Kanika Datta.
Some companies argue that the culture of staying, working and learning at home will persist for a while, altering lifestyle habits of consumers.
"Border Security Force detects a tunnel along the international border in Hiranagar sector of Kathua. "More details awaited," officials said.
'We have lived through 10% plus inflation in India and we are aware of the economic pitfall.' 'With the RBI now having formally adopted an inflation target range, they cannot turn a blind eye to the impending risks.'
Prime Minister Narendra Modi on Saturday hard sold his government's reforms spanning from manufacturing to taxation to labour, saying they have changed the world perception about the country from 'why India' to 'why not India' and went on to quote record foreign investment during the pandemic as a testimony to that. Speaking at industry association Assocham's Foundation Week event, Modi also said agriculture reforms brought by his government six months back have started benefiting farmers. The reforms in the last six years have influenced in changing the sentiment of the industry from 'why India' to 'why not India' in investing.
Not displaying the mandatory information, including country of origin, on products sold on their platforms in India, draws government's attention.
FY22 will be the year to rebuild with the IMF projecting output growth at 11.5 per cent, economic survey at 11.0 per cent and the RBI's Monetary Policy Committee at 10.5 per cent.
Ola Electric's technology team is working hard to iron out the technical kinks that marred the electric vehicle company's hyped online sale of its electric scooters (e-scooters) - the S1 and the S1 Pro - on Wednesday, said company sources. The SoftBank-backed firm is facing technical difficulties in making the website live for the purchase of its e-scooters. According to company sources, the website couldn't go live as there were integration issues.
Opening up India's market to neighbouring countries can be as strategic as access denial to others. The game should be played both ways, even if it upsets domestic business lobbies, observes T N Ninan.
The national budget 2019-20 had an outlay of Rs 10,000 crore for Phase-II of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles scheme to boost electric mobility and increase the number of EVs in commercial fleets.
The COVID-19 active caseload remained below two lakh for the 14th consecutive day.
The car is built in a manner that stands tall and rugged on the city streets, without ever being uncomfortable, says Pavan Lall.
The helicopters are expected to boost the Indian Navy's anti-surface and anti-submarine warfare operations.
According to the IHS Markit India Business Outlook, predictions of softer activity growth underpin the downward revisions of profit outlook, subdued hiring plans and relatively muted capital expenditure.
In a rare face off, captains of the auto industry have hit out at the government for not walking the talk. At an industry event in the capital on Wednesday, R C Bhargava, chairman of India's largest carmaker Maruti Suzuki, and Venu Srinivasan, chairman of TVS Motor, questioned the government's intent to support the auto sector. Revenue secretary Tarun Bajaj sat in the audience listening, before his turn came to counter them.
Reserve Bank Governor Shaktikanta Das on Thursday said the central bank's asset purchases, aimed at mitigating COVID-19-related liquidity stress in the system, did not dilute its balance sheet or compromise on core principles of central banking. In the wake of the pandemic, the RBI undertook several conventional and unconventional measures. "Unlike many central banks, the RBI's asset purchases did not dilute its balance sheet and hence, did not compromise on core principles of central banking," Das said while addressing an event organised by the Bombay Chamber of Commerce. These purchases were confined to risk-free sovereign (government) bonds including state government securities only, he said.
We must resist the temptation to look at the absolute numbers being vaccinated, and focus instead on the percentage of the population vaccinated, he said in his letter.
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
'The workers's dance of wilful destruction has the potential to kill all investments planned in India by any foreign entity,' argues Dr Sudhir Bisht.
Automakers are caught in a chicken-and-egg situation: Prices have to come down if volumes are to increase, and volumes won't increase unless prices come down, notes Pavan Lall.
Overall, the credit profiles of players will be supported by healthy balance sheets and liquidity. Prudence in capital and development expenditure, efficient working-capital management, and recent equity raising will help sustain credit metrics in FY22.
In doing so, Bajaj has become the first internal combustion engine two-wheeler company to launch an all-electric two-wheeler in India.
The issue is set to be discussed early next week as the commerce department meets with industry bodies to discuss the widening supply gap for key imports.
Sanjiv Mehta, chairman of the country's largest consumer goods company, HUL, believes that the second wave of the Covid-19 pandemic between April and June this year has been a mere pause in India's consumption story, and that it will not change the country's overall growth trajectory. India is poised for growth, especially in the fast-moving consumer goods (FMCG) sector, Mehta told shareholders at the company's annual general meeting on Tuesday. The signs of recovery are becoming evident with many states lifting lockdown restrictions in recent weeks.
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