Since the Centre tightened the Press Note 3 norms in April last, as many as 150 private equity/venture capital investment applications from China and Hong Kong are pending with the government, starving the country's start-up ecosystem of funds, says a report. The Press Note 3 (PN3) changes were effected in April, restricting foreign direct investment from countries that share land borders with India. Analysts are of the view that the move was primarily aimed at China as lot of private funds were investing billions into domestic companies.
The new PN3 norms and lack of clarity on what constitutes beneficial ownership are the primary reasons for the decline in investments from China and Hong Kong.
Europe learning to live with offshoring, but Indian firms slow in riding the shift.
ICT products make up a minuscule $ 407 million, out of the $ 35.54 billion of total inbound shipments from the US, as of now.
This programme will offer Xiaomi phone users up to 70 per cent of the value on their old device when they upgrade to newer Redmi or Mi smartphones.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
Apple Inc's leading contract manufacturer, Taiwanese giant Wistron, has exceeded its investment obligation in India in just eight months, although the government's production-linked investment (PLI) scheme allowed it to complete the investment in four years. Between August 2020 and end March 2021, Wistron made an investment of Rs 1255 crore - 25 per cent more than the total investment it had committed to the government. Under the PLI scheme for mobile devices, the government had stipulated that each of the five participating global companies needed to invest Rs 250 crore every year for the first four years, totalling Rs 1,000 crore.
'Infrastructure plays the same role for the nation as arteries play in a human body.'
Former Indian President APJ Abdul Kalam has proposed creation of "World Space Council" for global cooperation in the planning and implementation of space exploration and security missions.
The industry needs a 10 year extension of tax benefits for standalone R&D entities.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The pace of job generation has slowed as IT firms look at automation to do testing
The Centre has also contacted five domestic and three multinational vaccine makers to understand how soon a candidate vaccine against Covid-19 will be ready.
If you are an avid gamer, the iQOO3 is packed with features that is meant to tempt you, says Ashish Narsale.
'Instead of developing the capacity, capability and strength to fight our external enemies, we are turning our own people against each other.'
"I answer all your questions, whatever you ask me. Why don't you question Prime Minister Modi on the Rafale deal, on Amit Shah's son. Why don't you question the prime minister who changed the entire Rafale deal to help a businessman?" he asked.
Speaking with Shekhar Gupta, the Editor-in-Chief and Chairman of The Print, on his Off The Cuff show, the former soldier and two-time chief minister of Punjab Captain Amarinder Singh expressed 'personal' hurt over the way the Gandhis treated him and asked for his resignation.
'Everybody says 5G and communication is important.' 'Everybody says automation, robotics, human computing interfaces -- people and machines working together -- is the future.' 'Everybody agrees that cybersecurity is something that is here to stay.' 'Everybody agrees that synthetic biology is important.' 'Instead of outlining thinking about industries for tomorrow and the future, let the evolutionary pathway be built in a way that it promotes robust, creative, thinking.'
He stressed the need to 'ignite the minds' and attract the imagination of young students in order to inspire them to make discoveries relevant to the World Space Vision 2050. Kalam called for all space-faring nations to optimise their space capabilities by contributing substantially in technology and resources.
Although the industry is disappointed with the government decision not to lower spectrum prices at a time telcos are saddled with over Rs 4-trillion debt and an estimated Rs 1.43-trillion licence fee dues, the DCC has relaxed the payment structure to offer some relief to the financially stressed sector.
Ernakulam Principal Sessions court judge N Anil Kumar awarded the death penalty to Ameerul Islam, a migrant labourer from Assam, for committing murder of the law student at nearby Perumbavoor.
The "pervasive" threat of financial crimes and corruption is a challenge to the country's economy and global efforts are required to combat this menace, CBI chief Ranjit Sinha said.
About 50,000 truckers, most of whom are single-truck owners, could be thrown off their businesses due to the recent fuel price hike. "Already the vehicle supply on the road is higher than the requirement. "With the fuel price hike, fleet owners will look to cut down fleet size wherever needed and due to this, small single-truck owners could be at the receiving end," Ashok Goyal, managing director at BLR Logistiks (I) Ltd said. The company has a fleet of 500 vehicles of all types-small, medium and large with pan-India presence.
Rajasthan Congress chief Sachin Pilot said the manifesto was prepared after taking opinions through multiple platforms such as social media.
Top HAL sources say the AMCA, which is being developed as the IAF's next-generation stealth fighter, is slated to be assembled at HAL Nashik.
Exports of gold jewellery fell 23.13 per cent to $1153 million.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The TDP chief said he tried to speak to Prime Minister Narendra Modi as a 'courtesy' to inform him about the decision to quit but he did not come on line.
Snapdeal had rolled out a hike of 16 per cent and above for its top performers.
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
Army chief General M M Naravane on Tuesday hoped for an amicable resolution of the military standoff with China in Ladakh through talks based on 'mutual and equal security' even as he said India will have to be prepared to deal with a 'two-front' threat scenario due to the potent and collusive threat from China and Pakistan.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
NeST group has plans to set up a state-of-the-art semi-conductor manufacturing facility in India, a top official of the group said.
''You should never give the impression that the police force is malicious, vindictive and indulging in retribution,' says Dr Vikram Singh, former director general of police of Uttar Pradesh.
'The leverage created by the Indian military must not be lost.'
Three molecular chemists -- Martin Karplus, Michael Levitt and Arieh Warshel -- were on Wednesday awarded the 2013 Nobel Prize for Chemistry for devising computer simulations that are used to understand and predict chemical processes.
