After reports of contamination in cough syrups sent from the country, India is considering a system to test them before exporting. It is learnt that the Central Drugs Standard Control Organisation (CDSCO) has sent a proposal to the Union health ministry on this. The idea is to test the medicines at government labs before exporting.
No process can offer a panacea for ethnic conflict, but there are times at which a legal process could work to defuse violence, asserts Supreme Court lawyer Devvrat.
Companies don't have to be in the field to nudge people to return money they owe lenders.
Shares of asset management companies (AMCs) have rallied in the last 3-4 sessions due to clarity on regulatory changes in total expense ratios (TER) and expectations that it won't upset profits much in the long run. HDFC AMC has gained over 12 per cent in the last four sessions, while Nippon AMC and UTI AMC are up around 5 per cent. Aditya Birla Sun Life (ABSL), the only other listed AMCs, has risen more than 2.3 per cent in the last four sessions.
Fuelled by rising passenger traffic and reviving local economies, the global airline industry is projected to record a net profit of $9.8 billion this year, IATA Director General Willie Walsh said on Monday and also made a strong pitch for having global standards for a Sustainable Aviation Fuel (SAF) book and claim system to help reduce carbon emissions. While addressing the Annual General Meeting of the International Air Transport Association (IATA) here, Walsh also flagged concerns about supply chain issues that are raising costs as well as limiting the ability of airlines to deploy aircraft. He also pointed out that decarbonising aviation is a serious issue and governments must not be allowed to use it to shore up exchequer finances.
Prime Minister Narendra Modi, who is in the United States for a three-day state visit, has gifted an eco-friendly lab-grown 7.5 carat diamond, placed in Kashmir's exquisite Papier mache box, to First Lady Jill Biden.
The Indian government is keen to woo major semiconductor players, but a global race to attract them to countries where there is already an ecosystem is making it difficult for India to attract the biggies in the business. On Wednesday the government decided to throw open the doors to more players to participate in its semiconductor scheme. It is now looking at not only 28 nanometre (nm) chips and below, but higher nodes like 40 nm.
Jiomart B2B is the latest among organised supply-chain companies to bite the bullet, shutting down its warehouses, and asking its employees to leave. Why are companies finding it difficult to sustain the supply-chain business? Experts point out that gross margins in supplying fast-moving consumer goods (FMCGs) are very low.
ITC's results for the January-March quarter (Q4) were strong, with robust growth in the fast-moving consumer goods (FMCG) segment and a good performance in hospitality. The tobacco division's performance was on expected lines, with double-digit volume growth, helped by reclaiming of market share from the smuggled trade. There was 60 per cent growth in non-cigarette earnings before interest and tax (Ebit), despite a relatively weak performance in paperboards.
The India personal computer (PC) market shipment, inclusive of desktops, notebooks, and workstations, dropped by an overall 30.1 per cent in the first quarter of CY2023 over the previous year, to only 2.99 million units, according to the latest data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker released on Tuesday. In Q1CY23, while the demand for desktops was positive, the notebook category witnessed another weak quarter as it declined by 40.8 per cent year-on-year (y-o-y). The consumer segment declined by 36.1 per cent y-o-y primarily due to slowing demand and weak market sentiment.
The government's ambitious vision document that aims at achieving electronics manufacturing with a value of $300 billion by FY26 (including exports of $105-130 billion) could end up far lower than the target, according to a reality check this month. The reality check came from the Indian Cellular and Electronics Association (ICEA), which partnered with the government in preparing the document. The members of the ICEA are mobile and electronics companies, and its assessment, based on current trends, indicates that the total electronics production in FY26 will be around $225 billion.
With the fate of the Development Enterprise and Services Hub (DESH) Bill in limbo, the commerce department is working towards tweaking some rules under the existing special economic zone (SEZ) law to allow use of unutilised spaces in IT/ITES for non-SEZ purposes. The move, when implemented, will free-up the land area that is not in demand through partial de-notification of certain floors or buildings, thereby allowing easier exit. "The department of commerce is discussing the matter with the revenue department before making changes in the Special Economic Zone Act, 2005," a person aware of the matter
The government is close to approving a proposal by Micron Technology to set up an assembly, testing, marking and packaging (ATMP) facility in the country involving an investment of about $1 billion. The world's fifth largest semiconductor company, based in Idaho, USA, will use the facility to process some of its own wafers, manufactured across the globe.
India must be prepared to deal with climate disasters, geopolitical confrontations, and social strife linked to global events, asserts Jayant Sinha, chairman of Parliament's Standing Committee on Finance.
As the government plans no further extension of the scheme beyond FY24, the task is to achieve the unfinished target of subsidising 914,707 EVs.
Micron plans an assembly testing, marking and packaging project of $1 billion, and talks are on to set up a memory chip plant for captive requirements.
OSAT majors have concerns about India's ability to provide a stable, predictable, and lasting policy environment for years to come, which is key for making a decision in a capital-intensive business.
The Securities and Exchange Board of India (Sebi) is considering a proposal to allow mutual funds (MFs) to charge a fee based on their performance, said Ananta Barua, whole-time member of the markets regulator. He said the proposal is being reviewed by a working group formed to look into cost structures. "One working group has been set up which is going to review... One of the suggestions is that if any scheme or fund is performing well above the benchmark, it (fee) can be linked to its performance.
Food delivery firm Zomato Ltd said on Wednesday most stores of its grocery unit Blinkit had resumed operations after being shut following protests by delivery partners. "Over the last few days we have made changes in the delivery partner payout structure with respect to the Blinkit business to address the needs of delivery partners, improve customer experience and reduce cancellation/ order rejection frauds by few delivery partners in the system. "Such changes are done from time to time, as needed," said the company in a letter to the BSE.
Zomato-owned quick commerce firm Blinkit has permanently shut down some of its dark stores in Gurugram amid ongoing strikes by many of its delivery workers in the region. Blinkit informed its workers of the development through a notification - seen by Business Standard - on their delivery partner app which said that the stores are being closed because the partners have not been working at them for the past 3-4 days.
India should by 2027 ban the use of diesel-powered four-wheelers in cities with over 10 lakh population and switch to electric and gas-fuelled vehicles, according to a report commissioned by the oil ministry.
Currently, banks are closed every second and fourth Saturday of a month. Why shouldn't they be shut every Saturday? When most customers carry their banks in their pocket (the app on the mobile phone), there is no need to keep banks open on Saturdays, argues Tamal Bandyopadhyay.
'A microcosm of India, inclusive and welcoming'. For years, Pragati Maidan was the centre of Delhi's social life.
The 'Make in India' campaign, along with the production-linked incentive scheme, played a role in energising the sourcing movement in the country, discovers Nivedita Mookerji.
In the first nine months of financial year 2022-23, India's exports of medical devices have grown by 17 per cent, while imports have declined by around 8 per cent, show the latest data compiled by the Association of Indian Medical Device Industry (AiMeD). However, import of 30 medical devices from China has risen between 25 per cent and 152 per cent during this period, the AiMeD has written to Commerce and Industries Minister Piyush Goyal in March. The AiMeD is an umbrella organisation of medical device makers.
Finance Minister Ishaq Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year.
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI. Officials from the Bentonville-headquartered firm recently held a virtual meeting with several domestic toy manufacturers in India.
It also promised to launch the 'Poshane' scheme through which every BPL household will be provided with half litre 'Nandini' milk every day and five kg 'Shri Anna - siri dhanya' through monthly ration kits.
Zomato shares may see limited upside in the near-term amid news-flow around government-backed ONDC expanding its footprint in the delivery market, believe analysts. Zomato shares have dropped 4 per cent in three days on the BSE. By comparison, the benchmark S&P BSE Sensex has added 0.2 per cent.
Encouraging results for PayTM (One97 Communications) for the 2022-23 financial year (Q4FY23) have led to a surge in the company's stock price, gaining nearly 5 per cent during Monday's trade. PayTM reported Q4FY23 revenues at Rs 2,330 crore, up 51 per cent on year-on-year (YoY) basis (13.2 per cent quarter-on-quarter or QoQ), led by monthly transaction user (MTU) growth of 27 per cent and average revenue per user or ARPU growth of 19 per cent YoY. MTU is defined as users with at least one transaction/month.
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
One of the challenges for those car graves is that Indian owners often find markets for their old cars rather than send them to scrapyards.
Apple is hoping to assemble in India 25 per cent of all iPhones produced globally to reduce its heavy dependence on China.
The country's largest bourse National Stock Exchange (NSE) has put the NSE Prime initiative in cold storage following lukewarm response from India Inc, said people aware of the development. Inspired by Brazil's Novo Mercado, NSE had announced a separate platform which any listed company could be part of by voluntarily adopting a stricter corporate governance code. Launched in December 2021, NSE Prime was to formally take off within a year after empanelling companies.
Congress general secretary in-charge communications Jairam Ramesh said that in the 'Hum Adani ke Hain Kaun (HAHK)' series under which the Congress posed questions to Prime Minister Narendra Modi, the party had asked him about his "favourite business group's links with the Chinese citizen Chang Chung-Ling (aka Lingo Chang) who has been a director in several Adani Group companies along with Vinod Adani and also made an appearance in the Panama Papers".
In the run-up to Apple CEO Tim Cook's visit to India, government officials are finalising the talk points with the Cupertino-headquartered tech major. Officials said that the government would like Apple to "deepen" the company's engagement in the manufacturing and assembly of iPhones in the country and not limit itself only to the minimum commitments made under the production-linked incentive (PLI) scheme for mobile devices. The conversations between the two sides are likely to focus on that.
New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.
The Wildlife Institute of India's former dean Yadvendradev Vikramsinh Jhala, who was part of the cheetah project in the past, told PTI that KNP has 'inadequate space' for these animals.
Addressing a gathering after the 'bhoomi pujan' of a bottling plant here, Adityanath said people are seeing that those who showed little respect for law and order earlier were now running for their lives.
The Securities and Exchange Board of India (Sebi) is discussing with mutual funds (MFs) a proposal on introducing new total expense ratio (TER) slabs linked to the total equity and debt assets by replacing the current ones that are linked to assets of an individual scheme. Senior MF executives confirmed that Sebi had held discussions on this matter with AMCs. Such a change is expected to lead to a lower TER cap for bigger asset management companies (AMCs).
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