In addition to the negative sentiment as a consequence of changes announced in the Union Budget 2023-24 concerning tax treatment for debt repayment distribution, concerns about hiring slowdown and its leasing impact, as well as higher interest rates, could blight the sector in the near term.
Many consumer good companies say they will pass on the benefits to consumers, which will bring down prices.
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
The police on Tuesday questioned two friends of the Uber cab driver, accused of raping a 27-year-old executive on Friday night.
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
The country's drug companies have attracted the highest number of enforcements from the American drug regulator in 2013, a year that has seen the US Food and Drug Administration turning stricter to ensure compliance levels and quality of medicines.
When Syed Firdaus Ashraf received messages last weekend, asking him to boycott Chinese goods, he laughed.
Arms dealer Sanjay Bhandari, who is under the scanner of multiple investigating agencies, may have fled the country, a media report claimed on Thursday.
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
'I am helpless and there is no one to help me.' 'I have been on this platform since Saturday.'
There are few firms that are applauded for managing a healthy top line growth along with an impressive brand image that inspires most companies.
Releasing a report titled 'Profiting from Pain' in Davos, the rights group further said as the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion every two days.
Its association with India is over 70 years old and spans both civil and military aviation. The Douglas DC-3 transport aircraft used by the air force beginning the 1940s and the iconic Boeing 747 aircraft flown by Air India, both had Pratt & Whitney (P&W) engines. The Indian Air Force's present-day, heavy-lift C-17 Globemaster III and the yet-to-be-inducted C-295 planes, too, have P&W power plants.
The government is studying suggestions on checking instances of double non-taxation and 'treaty shopping'
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The report comes at a time when the government is trying to clear pending FDI proposals, which include various planned investments in this sector.
Publisher Simon & Schuster says the book focuses on the company's early years.
India must revive public sector firms.
India conceding ground to bring only top 100 digital companies like Google, Facebook, and Netflix into the global taxation pact may have revenue implications. This will mean that New Delhi will have to withdraw the contentious 2 per cent equalisation levy on e-commerce operators by 2023. This may have revenue implications for India, experts pointed out, as the equalisation levy has a much lower annual revenue threshold of Rs 2 crore (euro 0.2 million) as against euro 20 billion agreed by 130 countries at the Organization for Economic Cooperation and Development (OECD). India, along with other developing countries, was pitching for at least euro 1 billion threshold to cover at least 5,000 global entities. India collected Rs 2,057 crore from the equalisation levy in 2020-21, an 85 per cent growth over Rs 1,136 crore in the previous fiscal.
According to the latest Salary Trends survey by ECA International, the biggest pay rises in the region have been forecast in Pakistan where companies are anticipating 12 per cent rises on an average.
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.
Physical security for women, the first step towards getting them into factories and offices, is all but absent in most Indian cities, notes Kanika Datta.
'Have a candid discussion with your management and raise your concerns,' suggests HR Guru Mayank Rautela.
Kataria, 49, an IIT-XLRI alumnus, was quick to implement a number of initiatives during the Covid-19 crisis including launching D2C initiatives such as mobile stores, WhatsApp messaging, video calling and home deliveries. Kataria was also swift to recognise that stay-at-home consumers were keen to buy informal rather than formal footwear, launching new collections quickly to take advantage of this trend, says Viveat Susan Pinto.
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
Laxman Narasimhan, a veteran in leading and advising global consumer-facing brands, has been named as the new CEO of coffee giant Starbucks, joining a growing cohort of Indian-origin business leaders at the helm of global corporations.
How do you bring about better nutrition consciousness in a society that is quite apathetic to excess consumption of salt, sugar and fats? asks Ambi Parameswaran.
A few days ago, Reliance Retail surprised the market by acquiring the Campa brand from Delhi-based Pure Drinks Ltd for Rs 22 crore. A successful cola brand in the eighties, especially in North India, Campa Cola thrived when Coke exited India in the late seventies. When the Atlanta-based major returned and PepsiCo set base in India, it went down fighting.
The Centre has also contacted five domestic and three multinational vaccine makers to understand how soon a candidate vaccine against Covid-19 will be ready.
More than 80 executives participated in the survey that was done from April to June this year.
Major carmakers like Maruti Suzuki and Honda did not have diesel technology and it is in the last 3-4 years that they invested in diesel vehicles owing to shift in demand towards such models
Apple is hoping to assemble in India 25 per cent of all iPhones produced globally to reduce its heavy dependence on China.
FY14 sees 16% decline in adjustments; department adds only Rs 59,000 crore to the profits attributed by multinationals, against Rs 70,000 crore a year ago
Nestle India, the Indian subsidiary of the Swiss multinational FMCG giant Nestle, had to face on social media the wrath of consumers, who accused the company of hurting religious sentiments by using the sacred images on Kitkat wrappers.
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.
India's largest cement firm, Ultratech Cement, has joined the race to acquire the Holcim stake in Ambuja Cements and its subsidiary, ACC. UltraTech - part of the Aditya Birla Group - submitted a non-binding bid on Wednesday. Swiss multinational Holcim, which manufactures building material, is exiting India by selling its 63.19% stake in Ambuja Cements. According to banking sources, UltraTech has submitted a plan to Holcim, outlining divestiture details that would meet the norms set by anti-trust body Competition Commission of India.
Microsoft top boss Satya Nadella feels the increase in productivity has come at the price of burning the 'social capital' built up by companies over very many years, observes ad guru Sandeep Goyal.
Made-in-India apps -- the likes of QuackQuack, TrulyMadly, and Aisle -- are wooing Internet users in smaller towns. Indian consumers spent close to $10 million in 2022 on dating and friendship apps.
The new restriction will be challenging for businesses, as they will have to do regular follow-ups with their suppliers.
Canadian Prime Minister Justin Trudeau joined religious and community leaders at an emotional vigil on Sunday night to honor the 15 members of a junior ice hockey team killed in a bus crash that shocked the hockey-loving nation.
