"India will be home to a fifth of humanity, its economy 16 times bigger than today, and one of the world's largest consumer markets. India will be a world better in many areas"
India's biggest firm, Reliance Industries, has decided to cut salaries by 10 per cent in its oil and refining divisions. Several smaller companies like Kajaria Ceramics have followed suit with cuts as high as 40 per cent for those earning more than Rs 50 lakh.
At the heart of the matter are revenue-share rental agreements that retailers are mooting over fixed-rent contracts that they say are unsustainable, given the revenue loss they've suffered during the lockdown.
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