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NEW DELHI: Industry bodies such as Confederation of All India Traders (CAIT) and Clothing Manufacturers Association of India (CMAI) have urged the Centre to postpone implementation of the MSME payment amendment in the income-tax. According to 44 (b) (h), any payment made to registered micro, small or medium enterprises...
NEW DELHI: Absence of top international oil companies from India’s exploration and production (E&P) sector could be due to lacklustre discoveries in the last 23 years even as the government has undertaken several fiscal and licensing reforms. The International Energy Agency (IEA) in a report said while the recent...
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai), on Wednesday, proposed 30 days ‘free look’ period for policies sold physically or through digital channels from the date of receipt of the policy document. A ‘free look’ period is the length of time during which a policyholder can...
NEW DELHI: After achieving success in domestic manufacturing of global electronics products like iPhones, the government is now working on a component-linked incentive scheme to make India both a product nation as well as a component-producing destination. The component-linked incentive scheme will encourage the production of electronics parts besides...
NEW DELHI: The Department of Telecommunications (DoT) is finalising modalities around administrative allocation of satellite spectrum, which is likely to include clauses such as the airwaves will only be given to offer services through a fixed terminal, officials aware of the details told ET. “Terms and conditions in the...
NEW DELHI: American retail major Walmart has cumulatively sourced products worth $30 billion from India over the last two decades even as it’s working towards an annual sourcing target of $10 billion by 2027, Andrea Albright, executive vice-president – sourcing, Walmart, said here on Tuesday. Albright was speaking at...
MUMBAI: In a show of confidence, Moody’s Investors Service on Tuesday revised the outlook on four Adani Group companies to ‘stable’, a year after revising it to ‘negative’ following a unverified report by US-based short seller, Hindenburg Research. The global ratings agency changed the outlook to ‘stable’ on Adani...
NEW DELHI: Continuous easing in core inflation is likely to provide confidence to the Reserve Bank of India’s Monetary Policy Committee as it augurs well for the expected moderation in the retail inflation trajectory, economists said. Core inflation – or inflation excluding food and fuel – eased to 3.6...
NEW DELHI: The Appellate Tribunal for Electricity (APTEL) has ruled that Indian Railways is not a deemed distribution licensee and is liable to pay cross subsidy surcharge to Discoms for the power it procures. The order, pronounced on Monday, was to settle the dispute between Indian Railways and Discoms...
MUMBAI: The government is planning a mega global investment conference this year that promises to bring together the who’s who of the global investment world. The summit hopes to draw in the top 100 institutional investors and leaders from the top 100 Fortune 500 companies in a bid to...
HYDERABAD: India needs to grow at seven to eight per cent annually in order to become a developed nation with USD 13000 per capita income by 2047, former Reserve Bank Governor C Rangarajan said on Tuesday. Asserting that innovation cannot be a single solution to reduce inequalities or poverty,...
NEW DELHI: Urban India witnessed remarkable progress in financial readiness, with 3 out of 4 urban Indians now owning life insurance products, according to a report. The Protection Index is at an all-time high of 45 in India Protection Quotient (IPQ) 6.0, up from 43 in IPQ 5.0, reflecting...
NEW DELHI: Annual revenue growth of leading auto component manufacturing companies will come down to 5-7 per cent in the next fiscal due to moderation in domestic volumes and a drop in exports, rating firm Icra said on Tuesday. According to Icra estimates, its sample of 45 auto ancillaries,...
NEW DELHI: India-Canada trade in goods was $8.2 billion in the first 10 months of 2023 as against $6.9 billion in 2022, registering a growth of 18.84 per cent, according to the government data provided in Lok Sabha on Friday. India’s exports to Canada in 2023 (January to October)...
NEW DELHI: After repeated criticism of project planning in several infrastructure projects, the Ministry of Road Transport and Highways on Friday revised the framework of evaluating bids for project plans prepared by consultants for National Highway projects. Under the new framework, deficiencies in the work done by consultants will...
BETUL, GOA: Public sector refiner and fuel retailer Hindustan Petroleum Corporation (HPCL) plans to start commercial production of fuels at India’s newest refinery in Rajasthan’s Barmer city by January 2025. The refinery-cum-petrochemicals complex, being built at a cost of nearly Rs 73,000 crore, will have a crude processing capacity...
NEW DELHI: India continues to be a preferred destination for foreign direct investment (FDI) despite soaring global interest rates, commerce and industry minister Piyush Goyal said Friday. The hardening of interest rates had led to capital flowing back to developed nations. “That was a period where one would have...
MUMBAI: Ahead of Indian sovereign debt’s inclusion in global bond indices, some banks have on behalf of their overseas clients requested the Reserve Bank of India to permit international electronic trading platforms to execute trades in domestic government securities in order to ease market access. “Following JP Morgan’s decision...