Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
He urged China to bolster the flow of its tourists to the Maldives.
After topping it for two consecutive years, Gujarat slipped three places on the NITI Aayog's Export Preparedness Index (EPI) for 2022, as Tamil Nadu emerged as the most export-ready state, the central think tank said in its report released on Monday. In a continuing trend, coastal states were found to have the most robust export infrastructure, which officials attributed to the integration of maritime trade into the core of their economies. Maharashtra and Karnataka retained their positions -- second and third, respectively; Haryana was ranked first among landlocked states and fifth overall.
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
Gems and Jewellery Export Promotion Council (GJEPC) has urged the government to reduce import duty on gold to 4 per cent from 7.5 per cent and a special package for the sector in the forthcoming Budget to boost shipments. As part of its pre-Budget recommendations, the council has also suggested a reduction in the import duty on cut and polished diamonds; cut and polished precious and semi-precious gemstones from 7.5 per cent to 2.5 per cent. "If (gold) imported at 4 per cent duty rate....working capital amounting to Rs 225 crore would be blocked instead of Rs 500 crore," the council said in a statement.
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
Half the stocks in the Nifty 100 index have seen a reduction in their target price by analysts this year due to fears of lacklustre earnings growth and uncertain economic environment. Adani Green Energy, FSN E-Commerce (Nykaa), Adani Ports & SEZ and Indus Towers are among the companies that have seen the maximum cut in TPs during the first three months of calendar 2023, shows Bloomberg data. On the other hand, Canara Bank, JSW Steel and Bank of Baroda have seen the highest increase in TPs.
There are about 400 unused airports and airstrips across the country.
The Karnataka Cabinet on Monday decided to rechristen 'Mumbai-Karnataka' region consisting of seven districts as 'Kittur Karnataka.'
'The Government of India should start a dialogue with the people of Ladakh, but the trouble is they are not willing to listen to our grievances.'
The government on Thursday announced substantial benefits to farmers, including a continuous source of income, for their land taken for industrial projects while making it easy for corporate India to acquire land with state help.The National Policy on Rehabilitation and Resettlement, 2007, which was cleared at a meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh, provides for land-for-land compensation, besides preference to affected families for jobs.
The first option that the state government might opt for is offer Infosys space in one of the SEZs that are coming up, but that is unlikely to be accepted
SEZs are business-friendly but not market-friendly. They work against an economic policy that promotes competition.
Medha Patkar on what she calls the Special Exploitation Zones.
Industry body CII has pitched for a reduction in personal income tax rates, decriminalisation of the goods and services tax and a relook at the capital gains tax rates as part of its agenda presented to the government for the forthcoming Budget. Arguing that the GST law already contains adequate penal provisions for deterrence against evasion of taxes, CII has suggested decriminalisation of GST law. Also, the applicability of prosecution provisions should not be based on the absolute amount of tax evasion but should be based on real intent to evade the taxes and a certain percentage of the tax payable, it stated.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
The state governments will be allowed to acquire a maximum of 10 per cent of the total land area allotted for a special economic zone for purposes of contiguity, according to a top source in the rural development ministry.
'West Bengal is an industry-friendly state.'
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.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
Adani Ports & SEZ was ordered to pay for damage to environment during the UPA govt
Obstacles in development of SEZs will be removed.
The policy is not likely to make a splash of an impact on the economy
The government announced several incentives in the five-year Foreign Trade Policy.
'The government expects demand for electronic products to reach $400 billion by 2023-24. This would be a huge foreign exchange outflow, which may further widen our trade deficit with other nations. Hence, the government plans to push local electronics manufacturing to cut down on their import bill.'
India has set a target of $160 billion for merchandise exports during 2007-08.
Agriculture Minister Sharad Pawar on Thursday favoured a compensation policy that ensures adequate return to farmers for giving up land holding rights in favour of any upcoming special economic zone project.
Shipping: Policy to increase India flagged tonnage soon
The government on Wednesday unveiled the FTP for 2015-20.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
No one expects the government to publicly concede policy mistakes. But it can shed denial; and, stop the point-winning debating style to the formulation of public policy, says Rahul Khullar.
It is desirable that now IT industry has to move up the value chain and to facilitate that, the Budget this year should give immense support to the IT software product companies.
An exercise to rationalise coal linkages which will optimize transport of coal and reduce cost of power is underway.
Tax problems and unfavourable WTO agreements are making Tamil Nadu's electronics corridor less attractive to companies.
Exports are slowing and economic growth in major markets for Indian goods has taken a hit.
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