Business
IDBI Selloff Picks Up Pace As Suitors Get Data Access
NEW DELHI: IDBI Bank’s potential suitors have been granted confidential data access to carry out due diligence on the lender after a 12-month hiatus, during which their applications underwent government scrutiny, said people familiar with the matter. The development marks a step forward in the disinvestment process, through which...
US Global ‘Supplemental Tariffs’ To Target Trade-Surplus Countries
NEW DELHI: After assuming office as the 47th president of the United States, Donald Trump laid out an “America First Trade Policy”, which includes imposing global “supplemental tariffs” to address what he termed “unfair and unbalanced trade”. He also threatened a 100 per cent tariff on BRICS nations, including...
SEBI Proposes Pre-Listing Trading For Initial Public Offerings
MUMBAI: In a bid to curb grey market activity, the Securities and Exchange Board of India (SEBI) is working on a regulated trading mechanism that would enable investors to sell shares once they are allotted in an initial public offering (IPO), chairperson Madhabi Puri Buch said on Tuesday. Buch...
Bridgestone India Expects Seven-Eight Per Cent Growth In Replacement Demand In 2025
MUMBAI: Bridgestone India is expecting around seven-eight per cent growth in the replacement demand this calendar year after seeing a disruption owing to multiple factors in 2024, a top company executive has said. The Indian arm of the Japanese tyre company Bridgestone Corporation also said that along with increasing...
Chemical Industry Seeks Tweaking In Customs Duties In Budget
NEW DELHI: The chemicals industry has sought tweaking in customs duties in the forthcoming Budget on certain products such as Polyethylene Terephthalate and Polyvinyl Chloride with a view to cut imports from China and boost domestic manufacturing. China is currently the world’s biggest exporter of key products like Polyethylene...
BlueVerse To Unveil Sustainable Vehicle Washing Solutions
NEW DELHI: BlueVerse, a DPIIT-recognised start-up, will showcase its innovative automated vehicle washing solutions at the Bharat Mobility Summit 2025, taking place from January 17 to 22 at Bharat Mandapam, New Delhi. Visitors can explore BlueVerse’s revolutionary technologies at Stall No. three, Hall No. nine. Aligned with India’s sustainable...
Rupee Falls 14 Paise To Close At 86.59 Against US Dollar
MUMBAI: The rupee pared initial gains and settled for the day lower by 14 paise to 86.59 (provisional) against US dollar on Tuesday, tracking heavy sell-off in the domestic equity market and a recovery in the US dollar index. Forex traders said the dollar weakened from its 109 levels...
Markets Rally In Early Trade Amid Mixed Global Equities
Equity benchmark indices Sensex and Nifty began the trade on an optimistic note on Wednesday mainly due to buying in index heavyweights Infosys and HDFC Bank amid a mixed trend in global markets. The 30-share BSE Sensex climbed 366.49 points or 0.48 per cent to trade at 76,204.85. On...
India, EU To Develop Cutting Edge Tech, Secure Critical Raw Material Supply Chains
NEW DELHI: India would work with the EU to develop cutting-edge technologies and secure critical raw material supply chains to strengthen economic ties, commerce and industry minister Piyush Goyal said Sunday. The issue was among six broad principles that Goyal discussed with Maros Sefcovic, European Commissioner for Trade and...
Government Set To Meet Target Of 10,000 New FPOs In FY25
NEW DELHI: The government is aiming to meet the target of 10,000 new farmer producer organisations (FPOs) by the end FY25, five years after the launch of the central sector scheme. Sources told FE that over 9,268 FPOs have been registered as cooperatives and producers’ companies under a central...
Lower Import Tariffs On Inputs, Other Incentives Sought
NEW DELHI: The coming general Budget could undertake adjustments of taxes and unveil incentives for Indian industry to take advantage of the opportunity that could emerge, if Trump administration’s moves escalate the worldwide trade tensions, according to experts. For several months, Donald Trump has been open about increasing tariffs...
Rising Funding Costs May Hit NBFC Margins
MUMBAI: Liquidity pressures and high cost of funds are likely to pressure margins of non banking finance companies (NBFCs) during the third quarter ended December 2024. Micro finance companies and NBFCs having a high percentage of unsecured loans may also be impacted due to payment delays by borrowers during...
Govt Likely To Provide Incentives For Manufacturing High-End Electric Vehicles
NEW DELHI: The Centre is likely to consider investments in research and development and in setting up dedicated assembly lines for electric vehicles at existing factories for incentivising carmakers under a scheme aimed at promoting local manufacturing of high-end EVs. People in the know said the government has agreed...
Domestic Composite Materials Industry To Touch USD 2.8 Billion By 2030: Report
NEW DELHI: Domestic composite materials industry is expected to grow at a 7.8 per cent annual growth rate to reach USD 2.8 billion by 2030, a report said. Composite materials or fibre-reinforced plastics (FRP) help in the circular economy as these are manufactured by combining multiple materials with different...
India Not Seeking Duty Concessions On Liquor, Cigarette In FTA With Oman
NEW DELHI: India is not seeking customs duty concessions on over 100 product categories such as liquor, and cigarette in the proposed free trade agreement (FTA), which is under negotiations between the two countries, sources said. They also said that though the FTA negotiations were concluded, Oman has sought...
Budget FY26: Government Could Cut Customs Duty On Raw Materials To Boost Manufacturing
NEW DELHI: The government could reduce customs duty on inputs used in manufacturing medical equipment, electronic goods and footwear industries in the forthcoming Budget to boost local manufacturing, according to tax experts. Deloitte India Partner, Indirect Tax, Harpreet Singh said key demands from the Customs side from the 2025-26...
EVs On Anvil For India, Part Of Multi-Tech Approach To Combat Emission: Toyota
Japanese auto major Toyota will launch electric vehicles in India, as part of its multi-technology approach towards combating carbon emission in the country, which EVs alone cannot tackle, according to top officials of the company’s Indian arm. The company feels that under the current circumstances, strong hybrid is the...
FPIs Take Out Rs 44,396 Crore From Equities In January Amid Weak Earnings Outlook, Rising Dollar
NEW DELHI: Foreign investors have pulled out Rs 44,396 crore from Indian equities this month, driven by strength of the dollar, rising bond yields in the US, and expectations of a weak earnings season. This came following an investment of Rs 15,446 crore in the month of December, data...
