The Indian government could lose a staggering $3 billion in revenues over a five-year period on account of differential import duties levied on refined and unrefined gold, says a report.
India is one of the top investment destinations in Asia for retail and consumer sector, which is expected to witness rapid growth, aided by its IT capabilities, global consultant PricewaterhouseCoopers said on Thursday.
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
Experts believe that the industry has the potential to grow at an accelerated 15-20 per cent CAGR for the next 10 years to reach between $49 billion to $74 billion in 2020.
India's rupee is likely to remain under pressure due to high prices of crude oil and other commodities, and may stabilise at around 79-80 against the US dollar in the near term, say experts amid limited headroom available with the Reserve Bank to check the weakening of the domestic currency. The currency has slumped over 5 per cent this year after Russia's invasion of Ukraine sent international crude oil prices soaring to a decade high. On Monday, rupee ended at a fresh all-time low of 78.34 (provisional) against the US dollar.
Close to 13 crore Indians may suffer from lifestyle diseases like heart attacks and diabetes in the next few years, leaving a $160 billion hole in the national economy between 2010 and 2015.
Elon Musk's likely referring to waiver of 30% local sourcing norm for setting up single-brand retail
About 41 per cent of chief executive officers (CEO) in India have cancelled or delayed a key strategic initiative because of skills shortage, an annual global CEO survey by PricewaterhouseCoopers (PwC) states.
ICAI starts proceedings against software firm's CFO and head of audit cell.
India will join the league of top 10 global pharmaceuticals markets in terms of sales by 2020 with the total value reaching USD 50 billion by then, according to a report by PricewaterhouseCoopers.
Value of M&A deals made by India Inc this year will exceed its 2007 levels.
A stable government at the Centre and its plans to set up smart cities has revived investors' interest in the country with Mumbai, Delhi and Bangalore set to emerge as hot investment destinations in 2015.
"I told my office to take permission of the court because I want director, discipline, to begin proceedings against them (S Gopalakrishnan and Srinivas Talluri).
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
'The Mumbai-Pune Olympics will be help shift the country's gaze to a region that denotes a new formula for sports, enterprise, and nation building,' argues Shashank Mani Tripathi.
Despite India becoming a new destination for global investors, 38 per cent of over 5,400 companies' representatives surveyed by the global consultancy firm PricewaterhouseCoopers said they were asked to pay bribes to get licences, orders over the past two years.Among the seven major emerging economies of the world, India is ahead of Turkey, Mexico and China, where 28, 28 and 21 per cent of firms in that order reported experience with bribery.
Hailing Prime Minister Narendra Modi's Make in India campaign and the emphasis on ease of doing business, India Inc today said the initiative mirrors the country's ambition to sprint ahead in the global manufacturing race, thereby creating jobs and boosting economic growth.
While participation of start-ups in the space sector has largely been minimal so far, their involvement will be key towards building India's very own aerospace companies such as Maxar, Elon Musk's SpaceX and Rocket Labs, according to experts.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
Analysts tracking Apple said the India results were glimpses of what the company could achieve in emerging markets with a right pricing strategy for its products and local manufacturing.
'While OTTs are a reality, big film producers will prefer a theatrical release before a digital one.'
There is little that Andreas Schmid, the Swiss-born chairman of Flughafen Zurich AG (Zurich Airport International AG), and Yogi Adityanath, chief minister of Uttar Pradesh (UP), could have in common. But Schmid, whose company is building the Noida airport in partnership with the UP government, finds himself on the same footing as the firebrand Hindutva leader who rules the state. Both hope the Rs 30,000-crore ($4 billion) project, hanging fire for 20 years, shows some progress when UP goes to the polls in 2022.
Lower cost and easier termination may well be among the reasons that companies seek to have employees on contract. The share of employees on contract has increased to 57.3 per cent of the total workforce this year as compared to 53.7 per cent in the previous year.
FutureBrand, which is a global brand transformation company, said part of Reliance's success could be attributed to Mukesh Ambani's recasting of the firm as a one-stop-shop for Indians.
To mitigate the impact of the economic slowdown on their businesses, a majority of Indian firms have implemented significant cost reductions and are reviewing their operational effectiveness, a PwC survey says.
Payments startup BharatPe on Tuesday said it has terminated several employees and vendors as well as filed criminal cases against them for misconduct besides deciding to claw back former founder Ashneer Grover's restricted shares in the firm. The steps have been taken by the company's board following a detailed corporate governance review against the backdrop of alleged lapses and misdoings during the tenure of Grover as managing director. IPO-hopeful BharatPe, which allows shop owners to make digital payments through QR codes, has implemented a new code of conduct for senior management and employees and brought in a comprehensive vendor procurement policy to avoid a repeat of alleged lapses that happened when Grover was managing director.
On Tuesday, Petroleum Minister Dharmendra Pradhan met Russian oil giant Rosneft's chief executive officer Igor Sechin and discussed raising crude imports from that country, in addition to talks about going for more acquisitions.
India can be the new global manufacturing hub for small cars with BRIC countries, says PricewaterhouseCoopers.
A bench headed by Chief Justice P Sathasivam said the issues raised in the plea need 'examination' and issued notice to the Centre, RBI, Central Board of Direct Taxes, the Institute of Chartered Accountants of India, PwC and the audit firms sharing its brand name.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
Eight of the 30 companies in the BSE Sensex that shared data reported 99 fatalities in 2016-17 against 86 in the previous year. These lives were lost due to industrial accidents at manufacturing facilities. Fatalities owing to road accidents were excluded from the count.
Analysts on Monday gave a mixed reaction to the railway budget, with some terming it as a "non-event" saying there were no radical measures to bridge the revenue deficit in the document, and a few calling it "pragmatic" given the limitations.
A quarterly study of PE investment activity based on data provided by Venture Intelligence, such funds in the third quarter of this year totalled $3.01 billion through 103 deals, according to the PwC MoneyTree India report.
The Indian Broadcasting Foundation (IBF) on Monday announced the appointment of former Supreme Court judge Justice Vikramjit Sen as the Chairman of its newly formed self-regulatory body Digital Media Content Regulatory Council (DMCRC).
Less than 50 per cent respondents admit that their company has sufficient security controls, says PricewaterhouseCoopers.
About 70 per cent of ATMs in India are running on outdated operating systems, which makes it easier for fraudsters to crack them
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
While the most obvious beneficiary of this roll-out will be manufacturers of FASTags, or the Radio Frequency Identification chips, a PwC report says implementation of a pan-India electronic toll collection system on national highways may help save approximately Rs 87,000 crore annually.
Dealmakers and advisors feel investors are shifting their focus to Asia Pacific, especially India, owing to geopolitical instability driven by events such as Brexit and protectionist trade wars.
'It is surprising and unfortunate that unfounded allegations are now being made without any reference to me whatsoever,' Vijay Mallya said.
