India’s gold demand rose 8 per cent annually to 136.6 tonne in the March quarter helped by a strong economic environment despite prices touching historic highs, according to the World Gold Council. The aggressive gold buying by the Reserve Bank of India (RBI) also contributed to the rise in...
NEW DELHI: Patanjali Foods has been served a show cause notice by the GST intelligence department, asking the company to explain why input tax credit worth Rs 27.46 crore should not be recovered from it. The Yoga guru Ramdev-led Patanjali Ayurved Group firm, which is mainly into the edible...
MUMBAI: The rupee declined 10 paise to close at 83.48 (provisional) against the US dollar on Monday, as investors remained cautious ahead of the US Federal Reserve’s monetary policy decision. A robust sentiment in the domestic equity market and softening crude prices in the international market, however, cushioned the...
MUMBAI: The SEBI board on Tuesday approved measures to deter front-running at asset management companies. This will be through an institutional mechanism that will consist of enhanced surveillance systems, internal control procedures, and escalation processes to identify, monitor, and address specific types of misconduct, including front-running, insider trading, and...
Global Capability Centres (GCC) are leading the charge for a diverse workforce with 28 per cent women in their workforce, according to a report by Pure Storage in association with Zinnov. The report also highlighted challenges in achieving gender parity within deeptech organisations, where gender diversity currently stands at...
NEW DELHI: The growth in factory output, as measured by the Index of Industrial Production (IIP), is likely to slow down to around 4.7% in FY25 from an estimated 6.1% in FY24, in the backdrop of the statistical effect of a high base and fading away of pent-up demand,...
NEW DELHI: Despite paucity of manpower available with the government, a record 125 Advance Pricing Agreements (APAs) were signed during FY24, in what experts believe shows the APA teams have become more efficient. “The government has multiple APA teams spread across the country and with every year, both taxpayers...
NEW DELHI: India’s share in global services exports has more than doubled over the last 18 years and rise of global capability centres (GCCs) has played a crucial role in the expansion, a global report said on Monday. The proliferation of GCCs has given a boost to real estate,...
MUMBAI: At a time when overseas capital flows have been firm, foreign lenders have requested the banking regulator for flexibility in compliance with the central bank’s Large Exposures Framework (LEF), particularly in handling certain types of accounts that facilitate global transactions. Banks have requested the Reserve Bank of India...
BENGALURU: Escalating construction costs are forcing real estate players to optimise their expenditures and readjust their pricing strategies to strike a balance between profitability and meeting customer requirements. A recent JLL report stated that the overall construction cost in the country will experience an average increase of 6 per...
GURUGRAM: Nestle India Chairman & Managing Director Suresh Narayanan on Monday asserted that the company’s infant food formulation for children below 18 months is done on a global basis and the allegation that “it is racially stereotyped is unfortunate” and untrue. Addressing reporters here, he said the amount of...
NEW DELHI: HCL Technologies’ FY25 guidance of 3-5 per cent represents a “good growth” in current environment, CEO C Vijayakumar said, adding cloud migration and GenAI projects are gaining traction but financial services vertical could face ‘headwinds’. Vijayakumar told PTI in an interview that HCL Technologies (HCLTech) is keen...
NEW DELHI: The escalating geopolitical tension may have implications for the country’s exports in the first quarter of 2024-25 as it is likely to impact global demand, apex exporters body FIEO said. The global uncertainties caused by continuing war between Russia and Ukraine has impacted India’s outbound shipments in...
MUMBAI: India Inc is likely to log 4-6 per cent revenue growth in the January-March quarter of 2023-24, marking the slowest quarterly growth since recovery from the Covid-19 pandemic which began in September 2021, said a Crisil report. The report is based on an analysis of 350 companies which...
NEW DELHI: Concerned over slow progress, the lenders of debt-ridden Reliance Capital (RCAP) have asked the Hinduja Group arm, IndusInd International Holdings Ltd, to expedite the process of obtaining necessary regulatory approvals and stick to the resolution plan deadline of May 27. In a meeting held in Mumbai on...
NEW DELHI: The Centre is weighing a proposal to tweak corporate social responsibility (CSR) norms for widening their scope and coverage besides reviewing the penalty structure to discourage companies from non-compliance, people aware of the development told ET. Deliberations on the matter have started and a final decision will...
NEW DELHI: The ministry of corporate affairs (MCA) has chalked out a plan for the first 100 days of the new government to assume office after the elections. Besides a clutch of changes to the Insolvency and Bankruptcy Code (IBC) aimed at expediting the resolutions and expanding the ambit...
NEW DELHI: India and Chinese Taipei have asked the WTO’s dispute settlement body not to adopt any ruling against New Delhi’s import duties on certain information and technology products till July 26 as both sides are engaged in resolving the matter, an official said. The issue came up during...