Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
India with its promise of higher return on investments offers boundless opportunities for corporate America to invest in the country, particularly in manufacturing and infrastructure, Commerce and Industry Minister Anand Sharma has said.
Ron Somers, president, United States-India Business Council speaks his mind about Indo-US tiff over outsourcing.
The GST Council's agenda includes trimming the number of items in the 28 per cent slab by 75 per cent, easier compliance for assessees and small taxpayers, and a presentation on bringing real estate under GST.
The US-India Business Council (USIBC) will confer the 'Global Vision' 2007 award for leadership on Reliance Industries Ltd chairman Mukesh Ambani in Washington on Wednesday.
TechHub, which seeks to promote an exchange of ideas and forging of collaborations, was inaugurated by Nick Clegg, deputy PM, UK.
'We have never before seen an Indian prime minister's visit to the United States so heavily business-oriented and so packed with meetings with the US business community.' Aziz Haniffa/Rediff.com reports from Washington, DC.
Observing that voices of protectionism emanating from the political quarters, is an issue of concern for American businesses, an Indo-US chamber has said it believes that such trends need to be resisted.
Nooyi is the first woman to ever serve at the helm of the premier business advocacy organization.
Looking ahead to global economy of the future, the US-India Business Council (USIBC) has announced the launch of a new initiative aimed at strengthening institutional linkages between academia, industry and NGOs focusing on the elementary, vocational and higher education sectors in both countries.
The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 -- a drop of 975 basis points -- owing to shortcomings in the product and distribution side of business. However, the market share saw a marginal uptick from the 57.37 per cent recorded in August this year. According to the monthly business data released for September 2023 by the Life Insurance Council, the NBP of LIC up to September 2023 stood at Rs 92,462.62 crore as compared to about Rs 1.25 trillion in the same period a year ago.
The survey report, titled Opportunities For UK Plc In Emerging Cities In India, also ranks eight other cities -- Ahmedabad, Chandigarh, Jaipur, Goa, Indore, Kochi, Nagpur and Vadodara -- as the most conducive destinations for UK investments in India. While its annexure lists 41 cities in the survey's ranking -- with Pune holding the top rank and Ranchi getting the lowest rank -- it provides a detailed study of nine cities that merit UK investment the most.
William S Cohen, former defence secretary in the Clinton administration and a three-term Republican United States Senator and currently the chairman and CEO of the Cohen Group and a member of the board of directors of the US-India Business Council, has applauded the appointment of Nirupama Rao as the new ambassador to the US. It comes as a propitious time when there's a sense that the US-India relationship is adrift, he has said.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
Harold 'Terry' McGraw, chairman, president and chief executive officer, McGraw-Hill companies, has taken over the helm of the United States-India Business Council, succeeding Indra Nooyi, chairman and CEO, PepsiCo.
On Monday night, Air India hosted a dinner Melbourne for the Indian diaspora and Australian leader and government officials to mark its launch in Victoria.
An obviously chagrined United States-India Business Council, which has lobbied feverishly for the passage of the US-India civilian nuclear deal in the US Congress, on Monday issued a guarded reaction to the passage of the nuclear liability bill in the Parliament that had 'compromised on the indemnity clause demanded by American companies to protect it from liability in case of a nuclear accident.'
With billions of dollars in military technology agreements likely to be made with the United States-India nuclear deal going through, there's an excited buzz among American companies.
The life insurance industry reported a 25.28 per cent decline in new business premium income in November 2023 to Rs 26,494.83 crore from Rs 34,588.8 crore recorded a year ago. The fall in group premium and change in taxation norms for policies with a higher ticket size dragged the premiums of the state-run Life Insurance Corporation of India (LIC) and private insurers, respectively. According to the data released by the Life Insurance Council, the premium of private insurers slipped 9.33 per cent Y-o-Y to Rs 10,360.29 crore from Rs 11,426.73 crore as a result of a change in product mix due to the measures taken to counter the impact of tax imposed on the premiums of Rs 5 lakh.
'The prime minister's announcement of a nation-wide shutdown was eloquent, but should have been more clearly phrased to avoid police overreach.' 'Migrant labour should have been allowed adequate notice and transport options to get home,' notes Rahul Jacob.
'We crossed Rs 1.7 trillion in three months this financial year.'
Online sports platform Mobile Premier League has laid off around 350 people or about half of India team to cut down on expenses and bear the burden of increased GST of 28 per cent, according to an internal company email. The GST Council has decided to levy a 28 per cent GST on online gaming and casinos on the face value of bets at the entry level. The Centre will bring amendments to the Central GST law in the ongoing monsoon session of Parliament, following which states will pass the amendments in their respective assemblies to pave the way for the introduction of changes in the law by October 1.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
Commerce Minister Anand Sharma on Wednesday sought to assure prospective American investors that India is a 'welcoming investment' destination where the climate is 'totally conducive' to such actions.
Reaching a consensus might also get tougher, as already seen with issues like inclusion of natural gas in GST and imposition of a sugar cess, both central proposals being resisted.
Stating that the deal had good bipartisan support, Rice said: "I do not believe this initiative is Republican or Democratic."
A concerned Sri Lanka skipper Kusal Mendis on Sunday hoped the ICC's suspension of the nation's cricket body will not affect the upcoming fixtures of the national team and the preparations for the men's U19 World Cup in Colombo early next year.
The USIBC said that this was 'a significant step that puts decades of Cold War baggage behind the world's two largest democracy', and that in achieving 'consensus' on this 'key bilateral agreement', it held out the promise 'to bolster the US and India as reliable partners for the long future in the sensitive areas of defence and security trade'.
If confirmation was required that the Indo-US nuclear deal has opened doors for business between the two countries, it is here.
The Indian film industry joined hands with Hollywood on Wednesday to counter piracy.
India's burgeoning entertainment industry loses as much as $ 4 billion and 800,000 direct jobs each year due to counterfeiting and piracy, a latest study says. The study -- The effects of counterfeiting & piracy on India's entertainment industry -- was prepared by Ernst & Young India. It was commissioned as part of the USIBC-FICCI Bollywood-Hollywood Initiative, which promotes the sustainable growth & convergence underway between the entertainment industries of the US & India
There is a case for more stringent evaluation of CSR plans based on voluntary allocations, but a rule-based approach might be more effective.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
Already India is a global leader in high technology. The nuclear deal will end India's nuclear isolation and enable India to become a global champion of the nuclear renaissance, combating global climate change, USIBC President Ron Somers said.
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