Business
India Actively Engaged With 30 Nations For Mutual Recognition Agreements: CBIC Chairman
NEW DELHI: Central Board of Indirect Taxes and Customs chairman Sanjay Kumar Agarwal on Thursday said India is actively pursuing negotiation for signing of mutual recognition agreements (MRAs) with customs authorities of about 30 countries. Mutual recognition agreements help ease overseas trade by avoiding dual certifications. It thus reduces...
Generative AI Will Enhance Effectiveness Of Tax Functions: Report
NEW DELHI: Most of the CFOs as well as finance and tax leaders in India believe generative AI (GenAI) will significantly enhance the effectiveness of their tax functions, said a study on Thursday. Globally, 87 per cent of leaders echo this sentiment, underscoring GenAI’s potential to revolutionize tax functions...
Government Collects Rs 1.44 Lakh Crore In Toll Tax Since 2000
NEW DELHI: The government has collected Rs 1.44 lakh crore as toll tax at fee plazas presently operational under Public Private Partnerships (PPP) model on National Highways since December 2000, Parliament was informed on Thursday. In a written reply to a question in the Lok Sabha, road transport and...
IT Hiring Expected To Grow By 10-12 Per Cent In Next Six Months: Report
MUMBAI: IT services hiring is expected to grow 10-12 per cent in the next six months following rapid evolution of technology which is reshaping industries and economies worldwide, a report said on Wednesday. Emerging technologies such as Generative AI, Deep Tech, and Quantum Computing emerge are set to create...
100% FDI In Insurance May Attract Global Firms, Boost Competition: Experts
NEW DELHI: It has been nearly a quarter of a century since the Indian insurance sector was liberalised. Despite the presence of 27 life insurers, 34 non-life insurers, one domestic reinsurer, and ten foreign reinsurance branches, the need for a greater number of players — particularly specialised ones —...
Govt May Opt For Staggered Roll-Out Of Social Security Code
NEW DELHI: The government may not roll out all provisions of the Code on Social Security (CSS) in one go, given the industry’s concerns of the “financial burden” from the implementation of a few provisions designed to help platform and gig workers, official sources said. The CSS, one of...
India And EU Discuss Free Trade Agreement, Security, And Strategic Cooperation
BRUSSELS: India and the European Union (EU) held their 5th Strategic Partnership Review Meeting in Brussels, with a focus on advancing key initiatives such as the Free Trade Agreement (FTA), investment protection, and cooperation on global issues. The meeting on November 22, 2024, co-chaired by Tanmaya Lal, Secretary (West)...
Govt Invites Bids For 20 MSME Technology Centres With Public Private Partnership
NEW DELHI: The government has sought requests for proposal (RFPs) for setting up 20 MSME Technology Centres under Public-Private Partnership (PPP) mode. For the first time, private players will partner with the industry to provide technological, incubation, and business advisory support. Establishing these centres will create additional capacity for...
Govt Moves To Fill 59% Vacant Independent Director Posts At CPSEs
NEW DELHI: About three in five independent director positions on the boards of various central public sector enterprises (CPSEs) are lying vacant, prompting the Centre to step up efforts to fill in the posts, people aware of the details said. As many as 441 of 750 independent or non-official...
India-Russia Trade Hits USD 66 billion In 2024; Target Of USD 100 billion By 2030 On Track: Russian Envoy
KOLKATA: A senior Russian diplomat on Wednesday said bilateral trade between the two countries has reached a record USD 66 billion in 2024, marking a fivefold increase over the past five years, with a 9 per cent rise in the first eight months of this year. The envoy said...
ICRA Revises Down Volume Growth Forecast For Cement Industry To 4-5 Per Cent For FY25
NEW DELHI: Rating agency Icra has revised down its volume growth forecast for the cement industry to 4-5 per cent at 445-450 million tonne for the current fiscal on account of sluggish construction activity. In July this year, Icra had forecast a year-on-year volume growth of 7-8 per cent,...
Chennai To See Around 450 Global Capability Centres By 2030: CBRE
NEW DELHI: Chennai is estimated to have around 450 Global Capability Centres (GCCs) by 2030 as against 250 centres now because of supply of premium office space and availability of skilled talent, according to CBRE. Real estate consultant CBRE on Wednesday released a report titled, ‘Tamil Nadu: The Epicentre...
Govt Says e-Daakhil Portal Rolled Out Across India; To Soon Launch e-Jagriti
NEW DELHI: The government on Wednesday said the ‘e-Daakhil portal’ — an inexpensive, speedy and hassle-free mechanism for filing consumer complaints — has been rolled out successfully in all states and union territories. The government is also working for launch of e-Jagriti, which will further streamline case filing, tracking,...
India Has Taken Robust Measures To Regulate Fintech Industry: Finance Ministry Official
INDORE: Concrete steps have been taken to regulate the fintech industry in India as per the Financial Action Task Force’s recommendations to tackle money laundering and terror financing, a central government official said on Wednesday. India is among the few countries that are working on FATF recommendations to regulate...
Easier Agriculture Marketing On The Cards
NEW DELHI: Three years after rolling back three controversial farm Bills, the government is set to make another bid to achieve their essential objectives of barrier-free trade in farm produce under a uniform pan-India framework. According to official sources, a 12-member committee, under the aegis of the Union ministry...
India Inc’s Q2 Scorecard Weak; Brokerages Say All Eyes On Q3
With the end of the fiscal second quarter results season, brokerage firms stated that Q2 corporate earnings scorecard was weak, but excluding commodities, it reported an in-line growth. Consumption, per analysis by Motilal Oswal Financial Services (MOFSL), has emerged as a weak spot, while select segments of BFSI are...
India Red-Flags Non-Tariff Barriers, Wants EU Focus On Market Access
NEW DELHI: India has sought certainty from the European Union that the bloc will not impose new non-tariff barriers in future hurting the country’s interests. India’s insistence on such an assurance comes as the two sides assess the progress of their free trade agreement (FTA) negotiations, which restarted two...
Banks Eye Rs 1 Trillion Through Infrastructure Bond Issuances In FY25
MUMBAI: Infrastructure bond issuances by commercial banks in the current financial year (FY25) are likely to surpass Rs 1 trillion, almost double that of FY24, market participants said. So far this financial year, banks have raised Rs 74,256 crore via infra bonds. In FY24, the total issuances stood at...
