'After Om's untimely demise, he would call us every Sunday for the next two years to ask, "How are you doing my dear? How's the young fella?"'
After a quiet April-June quarter in 2024-25 (FY25), the operational and financial performance of India's largest listed hotel company, Indian Hotels Company, clearly rebounded in the July-September quarter (Q2) of FY25. With double-digit growth in the average room rate (ARR) and higher occupancy, the Taj Hotels chain owner reported a 16 per cent revenue increase and a 30 per cent rise in operating profit.
The chief minister said his government has already provided 365 days maternity leave to women in service and 30 days paternity leave to male employees to encourage them to raise babies.
As the Union government explores ways to restrict import of laptops and other electronic devices starting with a 5 per cent reduction from the current level, it is working to ensure that there's no supply disruption in India even if an import cap is introduced, it is learnt. The caveat assumes significance in the context of the government's announcement of its plan in August 2023 to issue licences for import of select IT hardware products to reduce the country's dependence on China.
More than 50 per cent of SIP accounts come from semi-urban and rural areas.
'I wonder if they will keep it up after the elections.' 'I fear they'll start questioning eligibility -- income, age, bank accounts -- and eventually stop the scheme altogether.'
Crude oil prices could dip to the low $60s by the end of 2025 after rising to $80 a barrel in the last quarter (October-December) of 2024 - up nearly 10 per cent from current levels, suggest analysts at JP Morgan. The main players in West Asia, including Saudi Arabia and the UAE, have a strong incentive to keep the conflict contained, according to the JP Morgan report.
Indian-American businessman-turned-politician Vivek Ramaswamy had predicted some eight months ago that incumbent President Joe Biden would not be the presidential nominee of the Democratic Party.
What was once a solemn Vedic ritual is today a celebration for the entire extended family. And why not? With families living in distant cities, even continents, weddings are seen as an occasion for cousins and uncles to congregate under one roof for two or three days, observes Ambi Parmeswaran.
The water crisis could jeopardise more than half of the world's food production and cause an average global GDP loss of 8 per cent by 2050, with lower-income countries facing up to a 15 per cent loss, according to a new report.
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
In September, JSW MG Motor India, the newly minted joint venture between SAIC Motor, which is present in 100 countries, and Indian conglomerate JSW Group, launched the Windsor, an electric car that introduced battery as a service (BaaS).
Clean air needs action all year round; and that it will work only if we act jointly and at scale, asserts Sunita Narain.
Under the title of "legal enforcement", states and Union Territories were directed to appoint officers solely responsible for discharging the functions of Child Marriage Prohibition Officers at the district level.
'A long-term investor with a 4 to 5 year horizon could invest in this theme via SIPs.'
'Price competition is fierce, with many companies selling at zero margin.' 'This pricing pressure is challenging smaller companies and will likely drive some out of the market over time.'
'Assess the property in terms of type, size, location and price point, and whether it fits into your budget.' 'If it checks out on these fronts, one may consider the accompanying offers.'
A task force set up by the Ministry of Electronics and Information Technology (Meity) for transforming India into an "electronic and semiconductor products" nation is on the verge of finalising its report, which is likely to recommend an allocation of Rs 44,000 crore between 2024 and 2030 to support homegrown companies in their quest to develop products and build global brands. The task force's recommendations include significant incentives: Rs 15,000 crore dedicated to electronic products (systems), Rs 11,000 crore for semiconductor products, and Rs 18,000 crore for various other incentives such as talent development, common infrastructure, logistics, and technology & IP (intellectual property) acquisition, a member of the panel revealed.
'Volumes in F&O trading had gone up rapidly and, in a way, the increase in STT on F&O will protect investor interest.'
In the June quarter of 2024-2025, smartphone exports hit $2 billion, well ahead of non-industrial diamond exports, which stood at $1.44 billion.
In a move to deepen manufacturing in electronics in India, the Centre is targeting 35-40 per cent value-addition through the yet-to-be launched production-linked incentive (PLI) scheme for electronics components, sources in the government
The Ministry of Heavy Industries has approved 11 electric vehicle (EV) manufacturers, including Ather Energy, Bajaj Auto, Hero MotoCorp, Ola Electric, and Mahindra, to receive incentives under the recently introduced Electric Mobility Promotion Scheme (EMPS) 2024. "A total of 11 firms have been granted approval under the EMPS, with several more under consideration," informed a senior official of the ministry to Business Standard. The scheme aims to sustain the growth in EV sales, replacing the Faster Adoption and Manufacturing of Electric Vehicles - II (FAME-II) scheme.
Bajaj Auto reported steady results in Q1FY25, with revenue surging 16 per cent year-on-year (Y-o-Y), operating profit registering a growth of 24 per cent Y-o-Y, and margins swelling 20.2 per cent. The profitability was aided by 50 basis points (bps) on the accrual of PLI benefits. The domestic prospects for two-wheelers are healthy, though the response to the newly launched CNG motorcycle is a key monitorable.
'In terms of incentives, if you think about it, hybrids are a 20-year-old technology.'
The government on Tuesday announced certain incentives as part of efforts to boost maintenance, repair and overhaul activities in the country's aviation and shipping sectors. India is one of the fastest growing domestic aviation markets in the world.
On-demand convenience platform Swiggy on Monday said it has announced its fifth ESOP liquidity programme giving options to employees across levels and functions to receive liquidity of up to $65 million (over Rs 540 crore). Tis is the fifth liquidity event for Swiggy since 2018, and the third consecutive event after July 2022 and 2023, the company said in a statement.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
Schemes like the Mukhyamantri Majhi Ladki Bahin Yojana strain fiscal resources amid rising unemployment and prices of food items.
Goods and services tax (GST) collections from mobile device companies, amounting to Rs 1.82 trillion between 2020-21 (FY21) and 2023-24 (FY24), have already generated more than five times the revenue for the government compared to the Rs 34,149 crore allocated under the production-linked incentive (PLI) scheme for mobile devices over six years ending 2025-26 (FY26). Currently, the GST on mobile devices stands at 18 per cent.
Hospitality players want the government to accord infrastructure status to hotels to make investments on new properties more attractive rather than categorising them as luxury or even 'sin goods' in the upcoming Union Budget considering the sector's potential to play a key role in India's growth. They also want the government to consider incentives in the form of tax breaks or subsidies for adopting sustainable and eco-friendly practices, while asserting that the upcoming budget must accelerate the tourism agenda saying it is an opportunity to make Indian hospitality the emerging engine for GDP growth and employment generation.
As we brace for unprecedented rates of urbanisation, it is crucial to ensure that illegal constructions and unauthorised land use are curbed, asserts Amit Kapoor.
India stares at the risk of an influx of Chinese products as US tariffs on a range of Chinese goods, including solar panels, electric vehicles, lithium-ion batteries, syringes, and steel, are set to take effect from September 27. With higher tariffs reducing China's access to the US market, there is concern that China may divert its exports to other markets, including India, which could lead to potential dumping of goods. This situation could challenge Indian industries, particularly in sectors where competition with Chinese products is already fierce.
'The border deal offers a hedge for India against Trump's unpredictability when it comes to his approach to competition with China.'
'Trump will absolutely back New Delhi on its position that Pakistan must do more to crack down on terrorists that threaten India.'
Here is what you need to know about the prize pot on offer at the 2024 US
He argued that if inflation is low, stable and moving towards the 4 per cent target, why has the RBI not revised downward the bank rate fixed in June 2023?
'We are seeing one of the highest discounts in recent years across companies.' 'October is a crucial month with several festivals coming up.'
ICC is mulling a dedicated fund of at least US$ 15 million for Test cricket that will help increase the players' match fee and address the migration of talent to T20 leagues.
'We don't have to go abroad for anything.' 'Anyone who thinks we have a lot to learn from the US needs to have his head examined.' 'We are in a new era.'
The Modi government's flagship initiative 'Make in India' launched 10 years ago has helped the country boost exports, push investments and promote manufacturing. Under the initiative, launched on September 25, 2014, a series of measures have been taken by the government to boost local manufacturing. These initiatives include the rollout of production linked incentive (PLI) schemes for 14 sectors, easing foreign direct investment (FDI) norms, reducing compliance burden to improve business climate, all approvals through single window, and rolling out of the national logistics policy.
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