The Business Confidence Index (BCI) prepared by the Delhi-based think tank NCAER declined by 27.5 per cent in the first quarter of the current financial year over the previous quarter mainly on account of the second wave of the COVID-19 pandemic. The BCI on a quarter-on-quarter basis decreased by 35.3 per cent for the services sector, 32.9 per cent for the consumer durables sector, 32.3 per cent for the capital goods sector, 17 per cent for the intermediate goods sector and 14.3 per cent for the consumer non-durables sector, NCAER said in a release.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
The proposed India-Israel trade pact should be beneficial to both nations and until New Delhi gets a good deal, it would not do an agreement, Commerce and Industry Minister Piyush Goyal said. India and Israel are negotiating a free trade agreement (FTA) since May 2010. "With Israel, until we get a good deal, we will not do an FTA. It has to be reciprocally beneficial," the minister said in San Francisco on Tuesday while interacting with the Indian community.
'Mumbai main branch (SBI headquarter) has all the data ready-made. It doesn't take even an hour to out the data from the system.'
As dramatic as it gets, but a former Indian Information Service (IIS) officer kept hiding inside a store room for more than 10 hours after killing his wife even as police teams along with a dog squad searched his property.
With the Big Four information technology services players having disappointed the Street, the focus is on mid-cap IT players who seem to have met expectations, according to analyst reports and management commentary on the demand environment.
Europe is the second largest market for Indian IT-BPM industry.
Cultivate a thirst for knowledge, explore online courses, attend workshops and network with peers. Embrace opportunities to learn new skills and stay updated about industry trends to remain relevant and future-proof your career, advises Manu Saigal, director-general, staffing, Adecco India.
Among the Sensex firms, Bajaj Finserv, Tata Motors, Asian Paints, ITC, IndusInd Bank, State Bank of India, Tata Steel, Wipro, Infosys and Maruti were the major gainers. Tech Mahindra, HCL Technologies, Kotak Mahindra Bank, Titan and Larsen & Toubro were the major laggards.
Enthused by 174 per cent growth in services trade this year, India is readying to make an aggressive offer in the WTO negotiations on services.
To set up a future-ready administration geared towards the target of $2 trillion exports by 2030, the Department of Commerce has decided to set up a dedicated trade promotion body to drive overall promotion strategy, export targets, and execution as part of a restructuring exercise. The trade promotion body will formulate and drive overall trade promotion strategy; create and drive India's branding across focus markets and sectors; drive coordinated action across missions, states and export promotion councils; strategic initiatives, including advisory and buyer-seller meet; and develop digital platforms for exporters and buyers. Based on a 14-volume 'restructuring dossier' by the Boston Consulting Group, the commerce department has already implemented some of the recommendations.
The two sides inked nearly two dozen pacts in key areas of defence and civil nuclear cooperation after "productive" talks between Modi and Bangladesh Prime Minister Sheikh Hasina in the nation's capital.
India will press for greater market access for developing countries in the services sector besides highlighting concerns in agriculture and industrial goods negotiations at the World Trade Organisation mini-ministerial on Saturday at Davos.
Talks on with P&G, HUL, Patanjali, among others to push their products via 250,000 common centres
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
The Asean secretariat hopes the meet may be able to iron out existing wrinkles raised by India. Since there had been no significant progress on the matter over the past two years on most issues, New Delhi is yet to decide on the invite.
The UK government said on Tuesday that it has kicked off preparations for a free trade agreement (FTA) with India, launching a 14-week consultation to seek the views of the public and business before formal negotiations begin later this year. UK Trade Secretary Liz Truss said Britain wants a trade deal with India that pushes new frontiers and welcomes wide input from consumers and businesses across all sectors, which will help craft a deal that includes closer cooperation in "future-focused industries" such as science, technology and services, creating high-value jobs across the country. "We're firing the starting gun on a free trade deal with India - the world's largest democracy, fifth-biggest economy, a nation of 1.4 billion people and a huge market for British goods like whisky, cars and services," said Truss.
Cheque clearances and cash withdrawals and deposits in public sector bank branches across the country were hit as employees started a two-day strike on Monday to press for a revision in wages.
Services have now become an offensive area for many developing countries like India and that is good news.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
Russian firms expand their footprint in India. And take bigger steps to do business with India's private sector.
The airline is in the process of getting the final nods from DGCA and is planning to operate six flights in Phase-I.
US State Department's report said that this has resulted in many investors retreating slightly from their once forward-leaning support of the BJP-led government
The sector requires proper implementation of policies, coupled with reasonable taxes and improved basic infrastructure.
With certain quarters demanding privatisation of public sector banks in the aftermath of the alleged fraud at Punjab National Bank (PNB), Economic Advisory Council to the Prime Minister chairman Bibek Debroy tells Sanjeeb Mukherjee, Ishan Bakshi and Indivjal Dhasmana that reducing government equity even to zero would not mean giving up of government control over these banks.
New Delhi to push for services trade facilitation & food stockpiling.
'People will say a lot of things -- ignore the noise.'
The 80-page bill, which follows a last-minute deal agreed with the EU last week, just days before the December 31 deadline of the end of the Brexit transition period, was debated by MPs in the House of Commons followed by the House of Lords.
British Prime Minister Rishi Sunak on Monday unveiled a new scheme for the world's 100 most talented young professionals in the field of artificial intelligence (AI) as part of his vision to make the UK a "beacon" to attract the "brightest and best" from around the world. Addressing the Confederation of British Industry (CBI) annual conference in Birmingham, Sunak told an audience of business chiefs and professionals that control over the country's post-Brexit immigration policy remains crucial. However, he pledged to create "one of the world's most attractive visa regimes for entrepreneurs and highly skilled people" and make use of the "Brexit freedoms" to strike trade deals with "the world's fastest-growing economies".
Signing of the two pacts -- FTA in services and investments -- were scheduled during the India-ASEAN Economic Ministers meeting in Myanmar last week. But the meeting was postponed as Commerce and Industry Minister Nirmala Sitharaman was not able to attend the meet due to domestic compulsions.
Roles ranging from digital marketing to wealth management are some of the emerging roles, notes Sekhar Garisa, CEO, foundit, a job search app.
The agreement on services, if ratified by all member countries, could prove to be a game changer for Indian professionals in education, healthcare & IT.
A paper authored by Rajan said, state-linked banks can be a first step in altering the ownership structure of some PSBs, where the government brings down its stakes to below 50 per cent, creating distance from operations of banks, and improving governance along the way.
'It's a big technology company and may offer good remuneration, but stability in my career is equally important to me.'
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
Recently, when TCS laid off a handful of employees, prominent trade unions rushed to offer their support to workers who had lost their jobs.
The agreement provides for extensive cooperation in the civil nuclear energy sector including in research and development for peaceful uses of nuclear energy, they said.
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