India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
NEW DELHI, Oct 3: The Government think tank Niti Aayog on Friday suggested the introduction of a presumptive taxation scheme for foreign companies to provide certainty and simplicity. The Aayog, in a working paper, said the optional presumptive taxation scheme would help resolve disputes concerning PE (permanent establishment), simplifying compliance and protecting revenue. "The proposed presumptive taxation scheme is a proactive and pragmatic solution to a long-standing problem. "It balances India's sovereign right to tax with the need to provide certainty and simplicity to foreign investors," the working paper said. The paper noted that despite India's inherent appeal and remarkable FDI growth, structural impediments such as ambiguous PE regulations introduce tax uncertainty and dampen investments. "Codify PE and attribution principles into domestic law, aligned with global norms, while avoiding retrospective amendments. "...by adopting a presumptive taxation scheme, India can transform its tax regime from a 'minefield' into a 'well-lit path', significantly improving its standing in global business indices," it said. The presumptive taxation scheme works to provide relief to taxpayers from the tedious work of maintaining regular books of account under certain circumstances. A company opting for this scheme can declare income at a prescribed rate; in lieu of that, it is relieved from maintaining books of accounts for audit by tax authorities. The paper emphasised that this bold reform would align tax policy with the larger economic vision. It suggested that the presumptive taxation scheme should have different deemed profit rates for various sectors. "A foreign company can opt for certainty. However, it can also opt out and file a regular return if its actual profits are lower than the presumptive rate," the working paper suggested. It also recommended that tax authorities should not separately litigate the existence of a PE for that activity, providing a critical safe harbour. The paper said the Government should train tax officers to apply rules consistently, particularly on complex digital and cross-border cases, reducing subjectivity. Releasing the paper, Niti Aayog CEO BVR Subrahmanyam says, "A Stable, certain, and predictable tax regime is critical for both investment and economic growth. Uncertainty is not good for investors or business". Subrahmanyam said the country has a goal of becoming Viksit Bharat by 2047, which requires it to grow at a rapid pace, create enough jobs for our people, and all that requires investment and a very predictable business situation. "Thanks to the guidance of the Prime Minister, you can see reforms actually picking up and happening in various parts of the economy," he added. (PTI)
Bengaluru (Karnataka) [India], December 13: IIFL Capital Services Limited (formerly IIFL Securities Limited) today announced the unveiling of its state-of-the-art office in Bengaluru, dedicated to wealth management services for High Networth Individuals (HNIs) and Ultra High Networth Individuals (UHNIs). IIFL Capital Services is one of the largest wealth managers in India, with about $30 billion (Rs 2.5 lac crore) worth of assets under management, advice and custody. Also Read | Big score is just around the corner for Steve Smith, Skipper Pat Cummins Backs Star Batter Ahead of IND vs AUS 3rd ...Read More >
New Delhi, Dec 26 (PTI) The Metropolitan Stock Exchange of India (MSE) is set to raise Rs 238 crore from four entities including Billionbrains Garage Ventures, Groww's parent, and Zerodha's Rainmatter Investments in a bid to stay afloat. Others who invested in MSEI are -- BSE-listed Share India Securities, and Securocorp Securities India. The exchange's board in its meeting on Tuesday approved the issuance of 1.19 billion equity shares at Rs 2 per share, comprising Rs 1 face value and Rs 1 premium to these four investors through a private placement, according to a disclosure on MSEI's websit ...Read More >
NEW DELHI: India has seen limited success so far in capturing the 'China Plus One strategy', while Vietnam, Thailand, Cambodia, and Malaysia have become bigger beneficiaries, according to a report of government think tank Niti Aayog. It said that factors such as cheaper labour, simplified tax laws, lower tariffs and pro-activeness in signing Free Trade Agreements (FTAs) have played a critical role in helping these countries expand their export shares. The US has implemented stricter export controls and higher tariffs on Chinese goods to limit China's growth and expenditure towards technologi ...Read More >
New Delhi, May 26 (PTI) Niti Aayog on Monday pitched for tailored financial tools, technology integration and a centralised digital portal to transform medium enterprises into future growth engines of India's economy. In a report titled 'Designing a Policy for Medium Enterprises', the Aayog highlighted the critical yet under-leveraged role played by medium enterprises and outlined targeted interventions to unlock their full potential. To address challenges faced by medium enterprises, it recommended the introduction of a working capital financing scheme linked to enterprise turnover, a Rs 5 ...Read More >
New Delhi, Dec 3 (PTI) Finance Minister Nirmala Sitharaman will commence customary pre-Budget consultations with various stakeholders beginning Friday. As part of the process, she will meet eminent economists on December 6 to seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent recorded in the second quarter of the current financial year. It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector scheduled for December 7, sources said. Union Budget 2025-26 is likely to be tabled in Parliament o ...Read More >
New Delhi, Dec 12 (PTI) Vedanta group firm Hindustan Zinc Ltd on Thursday said it has entered into a pact with the Rajasthan government to invest Rs 36 crore in the education sector of the state. The announcement was made during the Education Pre-Summit, part of the Rising Rajasthan Global Investment Summit 2024 held in Jaipur from December 9-11. The investment will be focused on 72 government schools under its flagship education initiative, Shiksha Sambal programme, Hindustan Zinc said in a statement. The company aims to improve the quality of education through various development programm ...Read More >
As a part of the new agreement between Mazagon Dock and BEML, Mazagon Docks will make facilities available to BEML's research team in exchange for their technical support to design and manufacture strategic equipment, reported PTI. The government-owned BEML Ltd. (formerly known as Bharat Earth Movers Ltd) announced on Wednesday, November 27, that it has signed an agreement with Mazagon Dock Shipbuilders to develop technologies for the marine industry, news agency PTI reported. According to the company statement cited by the agency, the company aims to leverage the opportunity to expand its e ...Read More >
New Delhi, Dec 4 (PTI) Eicher Motors on Wednesday said Royal Enfield has commenced operations of a new CKD (Completely Knocked-down) assembly facility in Thailand. Royal Enfild is a part of Eicher Motorts. "Our strategic intent is to have an international expansion strategy of investing in markets with huge potential to grow. Thailand assembly plant caters to this vision," Royal Enfield CEO B Govindarajan said in a statement. The new facility is the Royal Enfield's sixth CKD assembly unit globally - after Argentina, Colombia, Brazil, Bangladesh and Nepal. "We are confident that this (Thail ...Read More >
India's housing market is booming, with 2024 projected to be the best year yet. Over 300,000 homes worth ₹510,000 crore are expected to be sold across the top seven cities, driven by economic growth and infrastructure improvements. Sales in the first nine months already reached nearly 230,000 homes, indicating continued robust demand and rising capital values.India's housing property market continues to remain on a strong footing, with the year 2024 expected to end as the best year ever in term ...Read More >
New Delhi, Dec 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation and economic growth, as he opined that the central bank has been doing a prudent job. Notably, the FI ...Read More >
New Delhi, Jan 8 (PTI) Global hospitality major Radisson Hotel Group on Wednesday announced the opening of a new property at Vellore in Tamil Nadu. With the opening of The Park Inn by Radisson Vellore, the group now has seven hotels across the state under brands such as Radisson, Radisson Blu and Park Plaza, Radisson Hotel Group said in a statement. "This opening underpins our strategy of being the first mover and focusing on Tier III cities like Vellore where rich cultural heritage meets a growing economic landscape. This approach allows us to cater to diverse travellers while fostering new ...Read More >
New Delhi, Jan 17 (PTI) IT service provider Tech Mahindra on Friday announced the opening of an advanced Manufacturing Experience Centre at its Chennai campus. The centre was inaugurated by Mahindra Group chairman Anand Mahindra and Tech Mahindra CEO Mohit Joshi, according to a company statement. The centre will help manufacturers to quickly prototype and scale AI-based innovations to tackle industry issues like high operational expenses, inefficiencies in processes, supply chain disruptions, and complex operational challenges. Additionally, it will function as a hub where customers can vis ...Read More >
(Bloomberg) -- Indian bonds are poised to gain while the rupee is set to weaken as analysts bet on a softer monetary policy after the government named career bureaucrat Sanjay Malhotra as the new Reserve Bank of India governor. Most Read from Bloomberg Malhotra, a surprise pick, will take charge from Shaktikanta Das under whom the RBI kept borrowing costs unchanged for almost two years. While Malhotra's views on monetary policy are largely unknown, he recently urged revenue officials to prioritize economic growth, and the markets may read his appointment as dovish. The central bank is expec ...Read More >
Mumbai, Dec 11 (PTI) Murugappa Group-run TCI Clean Mobility subsidiary TIVOLT Electric Vehicles on Wednesday said it has signed a pact with EV charging solutions provider Tata Power Renewable Energy Limited (TPREL) to build a charging ecosystem for its electric commercial vehicles. Under the collaboration, Tata Power Renewable Energy will bring its extensive experience in setting up and managing an expansive EV charging infrastructure at strategic locations across the country to TIVOLT dealerships, customer locations, and high-traffic public spaces, the company said in a statement. "This str ...Read More >
New Delhi, Dec 18 (PTI) Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it. Also Read | Cancer Vaccine Ready for Use, Announces Russia; What Is the Cost? How Effective Is It? When Will It Be Available?. "IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely c ...Read More >
Mumbai, Dec 18 (PTI) Jobs and talent platform and a Quess company, foundit, on Wednesday announced the appointment of V Suresh as its Chief Executive Officer. With over two decades of experience in the internet domain, digital transformation, and the e-recruitment ecosystem, Suresh brings a wealth of strategic expertise and a forward-looking vision to foundit (formerly Monster APAC and ME), the company said in a statement. "Suresh's deep understanding of the digital talent ecosystem and proven ability to scale businesses will help us strengthen our leadership position in the market. Under hi ...Read More >
New Delhi, Jan 27 (PTI) LT Foods, a leading player in the basmati and speciality rice segment, on Monday posted 4.75 per cent drop in consolidated net profit at Rs 145.38 crore on higher expenses. The company had logged a net profit of Rs 152.64 crore in the year-ago period. Total income rose to Rs 2,288.25 crore from Rs 1,949.68 crore in the corresponding period of the previous year, according to a regulatory filing. Expenses rose to Rs 2,094.42 crore from Rs 1,757.67 crore. The Board reappointed Ashwani Kumar Arora and Surinder Kumar Arora as Managing Directors of the company, subject to ...Read More >
New Delhi, Feb 4 (PTI) Finance Secretary Tuhin Kanta Pandey on Tuesday said the government has taken measures to lower fiscal deficit and delivered a non-inflationary Budget, and hoped that the RBI's monetary policy will work in tandem with fiscal policy to support growth. He also said that although rupee depreciation increases inflation on imported inputs, it also adds to export competitiveness. Pandey said that the government has bettered its fiscal deficit projections for the current fiscal as well as the next. The fiscal deficit for FY'25 has been pegged lower at 4.8 per cent of GDP, low ...Read More >
Gulmarg (JK), May 28 (PTI) Chief Minister Omar Abdullah on Wednesday said the April 22 Pahalgam attack has not stalled the conversation around restoration of statehood to Jammu and Kashmir and that he had raised the issue at the recent meeting of NITI Aayog governing council. "No, not at all. If you were to take out the formal speech that circulated in the NITI Aayog meeting, you will find a categorical mention for return of statehood in that ... which was given to the Honourable Prime Minister and all the members of the governing council of the NITI Aayog," Abdullah told reporters in this to ...Read More >
Despite its vast potential, the full capabilities of GST data remain largely unrealised. While aggregate data provides a broad overview of tax performance and health of the Indian economy, disaggregated sector-wise information is crucial for evidence-based policymaking. A closer look at the performance of GST revenue collection raises several questions. First, though the growth of GST revenue collection improved in the last seven years (13 per cent) compared to the pre-GST period 2012-17 (11.8 per cent), there has been hardly an increase in the tax base of GST in the last seven years compared ...Read More >
New Delhi, Nov 28 (PTI) Coworking firm Incuspaze, which provides managed flexible office spaces to corporates, is looking to raise USD 25 million (over ₹210 crore) to expand its business across major cities before planning to launch its Initial Public Offer (IPO). Established in 2016, Incuspaze has a presence in 44 locations across 18 cities with a total portfolio of 40 lakh square feet. "We plan to add another 2 million (20 lakh) square feet in our portfolio by the end of December 2025," Incuspaze founder and CEO Sanjay Choudhary told PTI. In view of the growing demand for flexible workspa ...Read More >
New Delhi, Dec 12 (PTI) India should remain open to investments from China as other developed countries like the US and Germany, with the exception of a handful of sectors, 16th Finance Commission Chairman Arvind Panagariya said on Thursday. He also cautioned that one has to be careful about investments from potentially "unfriendly countries" that might damage the interest of the nation. However, developed countries are accepting investments from China in any particular sector, India can also welcome such investments. "If the US is taking investment from China, if Germany is taking, I would ...Read More >
New Delhi, Dec 17 (PTI) Drug firm Granules India on Tuesday said its subsidiary has received approval from the US health regulator for a generic medication used to treat attention-deficit hyperactivity disorder. Granules Pharmaceuticals, Inc (GPI) has received approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Lisdexamfetamine Dimesylate chewable tablets, the drug firm said in a statement. The approved drug is available in multiple strengths; 10 mg, 20 mg, 30 mg, 40 mg, 50 mg, and 60 mg, it added. The company's product is the generic ...Read More >
DP World has announced an extension of its Carbon Inset Programme after successfully registering more than 150,000 import containers since its inception in January. The programme, which commenced on 1 January 2025, is claimed to be the first initiative of its kind globally, providing cargo owners with 50kg CO2e of carbon credits for each loaded import container processed through DP World's UK terminals. This initiative aims to assist companies in addressing Scope 3 emissions within their supply ...Read More >
New Delhi, May 26 (PTI) Zepto Co-Founder and CEO Aadit Palicha has accused the chief financial officer of a competing company of orchestrating a smear campaign against his quick commerce platform. In a LinkedIn post on late Sunday, Palicha, not taking names, alleged that the CFO of one of Zepto's competitor firms has been reaching out to Zepto's investors with unsubstantiated claims, distributing false financial data to journalists, and employing bots to spread negative narratives about Zepto on social media. "Over the past few days, the CFO of one of our competitors has been trying to build ...Read More >
New Delhi, Jun 5 (PTI) Moody's Ratings will consider India-Pakistan conflict while evaluating India's rating, a source said. Representatives from the US-based rating agency on Thursday met India's finance ministry officials. Moody's currently has the lowest investment grade rating for India at "Baa3" with a stable outlook. "The rating agency will consider India-Pakistan conflict in its sovereign rating assessment," a source said. Last month, Moody's had said escalation of tensions between India and Pakistan will not have any major economic disruption in the country, but will be a setback f ...Read More >
New Delhi, Dec 11 (PTI) India's maritime sector is poised to play a transformative role in the country's vision of becoming world's third-largest economy, Vice President Jagdeep Dhankhar said Wednesday. Today, India stands as an emerging maritime powerhouse, strategically leveraging its geographical location and advanced infrastructure to spearhead global maritime initiatives, the Vice President said. "With the global blue economy projected to reach USD 6 trillion by 2030, India's maritime sector stands poised to play a transformative role in our emergence as the world's third-largest econom ...Read More >
New Delhi, Dec 13 (PTI) The Lok Sabha on Friday paid rich tributes to the security personnel who laid down their lives in foiling a terror attack on Parliament on December 13, 2001. Lok Sabha Speaker Om Birla solemnly reiterated the commitment of the Lower House to fight terrorism and pledged to protect the unity, integrity and sovereignty of the nation. "This House and the entire nation solemnly remembers unfortunate incident of December 13, 2001, when some terrorists attacked India's Parliament, the greatest symbol of our democracy," Birla said as soon as the House convened at 11:00 am. " ...Read More >
New Delhi, Jan 31 (PTI) Apple is very keen on India where it has seen record business during the December quarter with iPhone emerging as the top-selling smartphone model, a top company official said on Friday. During the company's earnings call, Apple CEO Tim Cook said India offers a huge growth opportunity for the company. "We have had great results in the emerging market. I am particularly keen on India. India has set a December quarter record. iPhone was top selling in India for the quarter. It is the second-largest smartphone market in the world and third largest for PCs and tablets. So ...Read More >
New Delhi, Jan 31 (PTI) Indian cloud service providers Ola Krutrim and AceCloud have started offering services of Chinese artificial intelligence platform DeepSeek in the country. AceCloud was the first to announce hosting of DeepSeek. Also Read | 8th Pay Commission: Nirmala Sitharaman To Announce Official 8th CPC Implementation Date in Union Budget 2025? Check Details Here. AceCloud said that it will offer DeepSeek AI models to businesses with claims that the data residency will remain in India. Krutrim claimed to be the first Indian AI company to deploy DeepSeek's AI models on domestic s ...Read More >