Business
India Imposes Anti-Dumping Duty On Five Chinese Products
NEW DELHI: India has imposed anti-dumping duty on five Chinese goods, including vacuum flasks and aluminium foil, during the month so far to guard domestic players from cheap imports from the neighbouring country. These duties were imposed as these products — Soft Ferrite Cores, certain thickness of vacuum insulated...
Public Sector Banks’ Dividend Rises 33 Per Cent To Rs 27,830 Crore In Fiscal Year 24
NEW DELHI: Dividend payout by public sector banks (PSBs) have risen by 33 per cent to Rs 27,830 Crore in FY24, indicating significant improvement in financial health of these lenders. PSBs declared a dividend of Rs 27,830 Crore to shareholders in 2023-24 as against Rs 20,964 Crore in the...
Tamil Nadu Gets Major PLI Projects In Electronics, Automobile: Sitharaman
CHENNAI: Tamil Nadu has emerged as a key beneficiary under the Production-Linked Incentive (PLI) scheme, receiving a significant share of projects in the electronics and automobile sectors, Union Finance Minister Nirmala Sitharaman said. Addressing an event organised by Chennai Citizens’ forum on Saturday evening, Sitharaman dismissed charges of the...
Customs Rule Of Origin Changes May Raise Compliance Cost For Importers: GTRI
NEW DELHI: The amendments in the customs rules to tighten checks on goods imported under free trade agreements (FTAs) could make it harder for businesses to do imports at concessional duties and may increase compliance cost, economic think tank GTRI said on Sunday. However, it said the move would...
Separate E-Commerce Inflation Index Likely
NEW DELHI: The ministry of statistics and programme implementation (MoSPI) is considering launching a new inflation index, which would track retail prices of items being sold on e-commerce platforms. The new index will not be part of the consumer price index (CPI), but will be released along with the...
Commerce Ministry To Seek Extra Funds For Export Mission
NEW DELHI: The ministry of commerce and industry will seek additional funds for the newly announced Export Promotion Mission (EPM), once the umbrella scheme that will absorb various export promotion initiatives gets approval from the Cabinet. “Under EPM it (department) is working to carve out an umbrella scheme with...
No Tax Demand After Resolution Plan Approval, Says Supreme Court
NEW DELHI: The Supreme Court (SC) has said that no tax demand, even if raised by the income-tax (I-T) department, can be allowed to be included in a resolution plan after the said plan has been approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy...
India’s Oil Import Dependency On Course To Hit Fresh Full-Year High In FY25
NEW DELHI: Growing demand for fuel and other petroleum products amid stagnant domestic crude oil output led India’s reliance on imported crude oil increasing to over 88 per cent in the first 11 months of the current financial year ending March (FY25), indicating that the import dependency for the...
For Pension Products, Common Regulatory Framework On Table
NEW DELHI: The government is considering a common regulatory and supervisory framework including a grievance redressal mechanism for all retirement financing schemes while exploring ways to bridge India’s pension gap. The terms of reference of the proposed forum for regulatory coordination and development of pension products are being finalised,...
1.91 Lakh Circuit Km Transmission Lines To Be Added By 2032
NEW DELHI: Union Power Minister Manohar Lal on Friday said that India has planned to add about 1.91 Lakh ckm (circuit kilometre) of transmission lines and 1274 GVA of transformation capacity by 2032. Addressing a meeting of the Parliamentary Consultative Committee of Members of Parliament for Ministry of Power...
Adani Energy Wins Rs 2,800 Crore Transmission Project In Gujarat
AHMEDABAD: Adani Energy Solutions Ltd (AESL), India’s largest private transmission and distribution company and part of the globally diversified Adani portfolio, today said it has won a power transmission project in Gujarat, which will supply green electrons for manufacturing Green Hydrogen and Green Ammonia in Mundra, Gujarat. The project...
DP World, Reliance Partner On Rail Solution
NEW DELHI: DP World and Reliance Industries have partnered to launch an innovative logistics solution for the petrochemicals industry, shifting product transport from road to rail, significantly cutting carbon emissions. The Dubai-based logistics operator in a statement said the new solution connects Reliance Industries’ Jamnagar plant in Gujarat to...
SEBI Relaxes ‘Skin In Game Rule’ For AMCs’ Employees
NEW DELHI: With an aim to address concerns about the “skin in the game” rule for designated employees of mutual funds, including CEO, CIO, and fund managers, markets regulator SEBI on Friday reduced the mandatory investment percentage, with the requirement now based on specific salary brackets. Earlier, AMC-designated employees...
Markets Bounce Back After Falling In Opening Trade On Fresh Foreign Fund Inflows
MUMBAI: Equity benchmark indices Sensex and Nifty opened on a negative note on Friday but soon recovered the lost ground and were trading with gains as fresh foreign fund inflows supported investors’ sentiments. The 30-share BSE benchmark Sensex declined 252.8 points to 76,095.26 in early trade. The NSE Nifty...
NSO To Use GST Data For GDP Estimate In New Series
NEW DELHI: The National Statistical Office (NSO) will likely use GST Network (GSTN) data to compute the gross domestic product (GDP) starting with the new national income series to be unveiled in the next financial year. The data of the revenue collections from the principal indirect tax will be...
Key India-US Trade Negotiations Next Week To Finalise BTA Contours
NEW DELHI: To finalise the shape of the proposed bilateral-trade agreement (BTA), a team of United States (US) officials, headed by Assistant Trade Representative Brendan Lynch, will come to New Delhi next week to hold discussions with their counterparts here. Both sides are aiming to finalise the first tranche...
SEBI Mulls Changes To ESOP Norms
MUMBAI: The Securities and Exchange Board of India (SEBI) has proposed allowing founders to exercise employee stock options (Esops) or stock appreciation rights (SAR), even after they are classified as promoters when the companies are about to list. In a consultation paper released on Thursday, SEBI, however, said the...
Bain Capital To Invest Rs 4,835 Crore In Manappuram Finance For 18% Stake
CHENNAI/MUMBAI: The US-based private equity (PE) giant Bain Capital announced on Thursday that it has entered into a definitive agreement to acquire joint control of India’s second-largest gold financier, Manappuram Finance, by purchasing an 18 per cent stake for ₹4,385 crore. The acquisition will be through a preferential allotment...
