Finance Minister Nirmala Sitharaman on Friday asked private sector companies to clear dues to small businesses within 45 days and admitted that the central departments and enterprises are also not making payments to them on time. She conceded that the Centre, states and state-owned enterprises too have outstanding dues to micro, small and medium enterprises (MSMEs). The minister said that at a meeting with big businesses here two days ago, she had appealed to them to ensure that the dues of small businesses, who are the backbone of the economy, are cleared on time.
Indian industry expressed disappointment on Wednesday over Finance Minister P Chidambaram's Budget for 2007-08, raising concerns on lack of measures to increase productivity and for losing an opportunity to provide relief to the corporate sector.
Top companies across sectors -- automobile maker Maruti Suzuki, consumer electronics giant Samsung to IT giant Infosys -- have reopened factories and offices as India took its first steps towards resuming economic activity after weeks under a near-total coronavirus lockdown.
'Not paying workers enough will end up being self-destructive or harmful for the corporate sector itself.'
The sudden manner in which the Centre has chosen to address the demand for a separate state of Telangana, carved out of Andhra Pradesh, raises an important question for corporate India regarding the future of Hyderabad.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
Take part in the growth story, Amit A Shah tells Corporate India.
June indicates a change in trend from previous quarters in terms of how much companies are spending on employees. The worst hit sectors included steel, air transport service and automobile firms.
Companies feel higher rates in India would not be justified.
'Birla only made representations to then PM for coal blocks allocation.'
Companies that have a net worth of at least Rs 500 crore, a turnover of Rs 1,000 crore or a net profit of Rs 5 crore are required to spend 2 per cent of their net profits on corporate social responsibility programmes.
One key provision is the taxation of indirect transfers when shares of foreign entities change hands.
Firms to find alternative export routes or face increased trade barriers
Between 2007-08 and 2017-18, the number of countries they imported steam coal from has increased from six to 12.
A symbol of self-reliance, India's space endeavours are a model for public-private partnership.
Here stood a man who embodied the legacy of whatever Brand Tata stood for, embellished it, and departed into the long night, leaving the brand legacy for others to further enrich, notes R Gopalakrishnan.
In spite of burgeoning initial public offerings, fund mobilisation by Indian companies through debt and equity issues in the year grew only 14 per cent, against close to 40 per cent in each of the earlier three financial years.
Though India was under lockdown for only seven days of the quarter, global demand and commodity prices began falling from February as COVID-19 was spreading in other countries. 1,002 listed companies - excluding banks, non-bank lenders, insurers, brokerages, and IT firms - reported a combined pre-tax loss of around Rs 2,700 crore during Q4.
Reserve Bank of India (RBI) deputy governor M Rajeshwar Rao on Wednesday defended the central bank's decision of not allowing industrial houses to float banks, and said more deliberations are needed before RBI changes its stance on this issue agreed back in 2001. An internal working group (IWG) of the RBI had recommended allowing industrial groups into banking, but late last month the RBI said it kept on hold the two recommendations of allowing industrial houses and large non-banks to float banks. However, RBI had accepted 21 of the 33 recommendations of the group that submitted its report a year ago.
Mid- and small-cap companies seem to have done better than top-tier companies
A UK government-funded organization British Midland, dedicated to attracting international businesses to the region comprising East Midlands and West Midlands, is eyeing around 40 investors from India across various sectors in the next three years.
After dishing out a slew of incentives for foreign investors, France is now aggressively trying to woo the Indian corporate and holding talks with bigwigs like the Tatas, Reliance, Godrej and Mahindra and Mahindra.
Besides business skills, leadership needs to be steeped in the culture of the company and aligned to its goals.
Indian businessmen and executives may not yet be the most meticulous executioners of management principles in the world. But when it comes to keeping the Gods and lady luck happy, they leave no stone unturned.
Experts say that until the market bounces back to a respectable level and creates confidence among investors, who could look forward to some price appreciation, IPOs will not be successful.
Chief executives in the real estate, consumer products, automobiles, construction, and textile sectors said they were all expecting workers to re-join in the next 45-60 days, which would help them ramp-up production from July.
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Firms with low promoter holding may get to buy shares from secondary market.
Rs 35,000 crore investment to increase capacity by 75%.
Local banks no match for foreign peers in global reach and better services.
For the traditionalists, wars on Twitter and Facebook smack of immaturity.
The corporate healthcare segment may replicate the success of the Indian IT sector, say experts.
'While most companies were bullish before the second wave of double-digit sales growth in FY22, that may not be the case now.'
India Inc is encouraged by a determined Budget.
While FMCG companies were not barred from carrying out their operations during the 21-day lockdown, since most manufacture staples and essential products, capacity utilisation remained poor, owing to the restricted movement of raw materials, finished goods, and labour.
In its latest report for the office market, property consultant Cushman and Wakefield said the total seats leased by enterprises could cross 50,000 during the 2021 calendar year. Enterprises had leased 18,213 seats in the first six months of the 2020 calendar year and 36,255 desks during the entire last year.
Retail investors have become a force to reckon with in the last 10 years with their ownership of Indian equities rising 800 basis points, or 8 per cent, to 23.4 per cent during this period, suggests a recent note from Morgan Stanley. This number, Morgan Stanley said, is set to rise in the next few years as Indian households are still underinvested in equities. India's demographics, policy framework, investor education and modest positive real rates, it said, will fuel the 'equity cult' in India.
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