'That is going to have an impact on literally every one, whether you buy a toothpaste, a safety pin, a car, shoes or medicines or you go to a diagnostic centre.'
The two apex chambers -- Federation of Indian Chambers of Commerce and Industry and the Confederation of Indian Industry -- said it was time corporate India did some serious introspection and improved governance standards. CII president K V Kamath said there was a 'need to immediately examine the loopholes in regulation, accounting, audit and governance that allowed such lapses to occur and address them with urgency'.
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
Endorsing Prime Minister Narendra Modi's vision of India outlined in his address to Parliament, India Inc said the efforts to improve farm productivity, rein in price rise and impart skills to youth will transform the nation in the days to come.
With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said on Monday.
The year 2009, was one of the worst years in terms of job market as terms such as 'layoffs', 'pink-slips', 'right sizing' became hot topics in household discussions.
India Inc is seeking at least quarterly interactions with senior government representatives to establish a channel of communication and help change the opinion at the highest level.
With the rupee showing a freefall and hitting a 28-month low against the dollar, India Inc has yet another headache.
Assocham expressed concern over the precarious situation that the manufacturing sector is in, observing that if the trend does not reverse with monetary and fiscal measures it would be difficult for the industry to generate jobs.
As Covid-19 cases recede, India Inc is once again tweaking work rules. Big tech companies such as TCS, Wipro and Infosys have either begun or are in the process of calling employees back to office in a staggered manner. A survey by Aon, a global professional services firm, has found that 60 per cent of tech firms now expect every second employee to come to office. More than half of the employees working in engineering and manufacturing firms are also being asked to return to work.
Over the weekend, many companies stepped in to ease the bottleneck in supply and transportation of oxygen, as demand ran high with the surge in cases.
More, half of all Indian companies plan to add employees over the next three months, states the Mercer India Monitor quarterly survey. Sector-wise, the survey shows pay increases in the pharmaceutical, consumer and manufacturing sectors have been in excess of 7 per cent.
So let's stop focusing the Modi agenda on India Inc and the capital markets, and let's start focusing on the Modi development agenda for the average Indian.
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The debt-equity ratio was as high as 1.4 times the net worth as certificates of deposit and inter-corporate deposits gained popularity.
India Inc's mergers and acquisitions saw a significant upturn in January with the total deal size touching a $2.5 billion, jumping a massive 42 per cent over the same period last year.
Tatas top the losers' list, wiping out more than Rs. 50,000 crore of investors' wealth.
Corporate India has high hopes from the upcoming Budget.
Jointly organised by the Indian Merchants Chamber (IMC) and the Europe India Chamber of Commerce, the 'India Calling' conference is a rare effort by Indian industry to brand India at a EU level.
The CII Business Summit 2025's inaugural session witnessed a rousing standing ovation and a felicitation ceremony for the defence top brass sending a strong message about India's rising military industrial complex and hghlghting that security is a top-of-the-mind issue for India Inc.
There's no change in Apple Inc's India strategy, said a top government source. 'It can only be enhanced'.
The post-Covid pandemic boom in corporate revenues appeared to have faded away in 2023-24. Yet, companies have reported a sharp recovery in their profits in FY24, driven by high margins. Their combined net sales, including gross interest income for lenders, rose by a modest 4.8 per cent year-on-year (Y-o-Y) in FY24.
Captains of the industry, including Adi Godrej and Anil Ambani, were among the early birds from India Inc to cast their votes in the financial capital.
Business jets and chartered flights have been an unlikely victim of the recent corruption scandals involving India Inc.
Coal, land, insurance bills are cited as govt's commitment to reforms.
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Admen Piyush Pandey and Prasoon Joshi, who were behind BJP campaigns including famous 'Achhe din aane waale hai', were present too.
Some of India's biggest employers are testing for antibodies to either comply with regulatory norms or gauge the effectiveness of precautionary measures.
India Inc's staff cost went up by 11.2 per cent during January-March last fiscal growing at a lesser pace than the previous three quarters of 2008-09, reflecting the economic slowdown, according to an RBI study.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
"It is heartening to note that the RBI has chosen growth over monetary tightening and inflationary fears," FICCI president Harsh Pati Singhania said.
Last fortnight, State Bank of India Chairman C S Setty lifted the veil on a subject long spoken of in corporate corridors: Why can't our banks finance mergers and acquisitions (M&As)? Change is in the air: Indian Banks' Association (of which Setty is the chairman) is to "make a formal request" to Mint Road to make way for it. Thus far the exclusive turf of foreign banks even though its funding remains offshore - as in, it's not on these entities rupee-book (and a few select shadow banks) - a most lucrative segment in the investment banking suite, M&As, will be homeward-bound.
Industry body Confederation of Indian Industry said with the government having announced a clear road map for fiscal consolidation and non-food inflation demonstrating a secular decline, conditions are conducive for RBI to have intervened with a repo and cash reserve ratio reduction.
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