– By Nikit Popli Launched in 2014, Make in India was an ambitious call to turn India into a global manufacturing powerhouse. The initiative aimed not only to bolster India’s economy but also to create jobs, attract foreign investment, and foster a self-reliant industrial ecosystem. Ten years later, the program has transformed many sectors, redefined
The tax liability of several Indian companies, which have operations in Switzerland, including bellwether IT and pharma firms, may rise with the central European country announcing a decision to increase the withholding tax on dividends their Swiss arms pay to Indian parents under the ‘source rule’, from 5% to 10%, effective January 2025. Switzerland cited
IndusInd International Holdings Limited (IIHL) aims to complete the acquisition of Reliance Capital (RCap) by January 2025. Ashok Hinduja, the chairman of IIHL, said they have secured all the necessary regulatory approvals to close the `9,861-crore deal. The final approval from the department for promotion of industry and internal trade (DPIIT) has come, paving the
Bengaluru-based Prestige Estates Projects plans to launch multiple projects in Bengaluru, Hyderabad, Mumbai, among others, comprising a total area of 53 million sq ft with total sales value of `52,114 crore by March 2025. In an interview, its chairman and managing director Irfan Razack tells Raghavendra Kamath about the company’s plans and strategy. Since the RBI is unlikely to
Traveltech startups like Oyo, ixigo, EaseMyTrip are driving growth through a surge in acquisitions, targeting market expansion, customer reach and enhanced capabilities, given the post-pandemic travel boom.Recent notable deals include Oyo’s acquisition of G6 Hospitality, the parent of Motel 6 and Studio 6, to boost its international footprint. Similarly, MakeMyTrip acquired Happay, ixigo took over
At the core of the heightened demand for a higher tariff wall, in the form of safeguard duty, on steel imports is the relative uncompetitiveness of the domestic primary steel makers. The world steel supplies remain robust, making imported cost of the alloy cheaper, even as domestic producers complain of low profitability. At the end
Pharmaceuticals, FMCG, and oil and gas were among the top hirers for niche profiles like artificial intelligence/machine learning (AI/ML), cybersecurity, cloud computing, data science and big data analytics and blockchain in 2024. Due to the increasing demand for these profiles, and the shortage of experienced talent, companies led by GCCs (global capability centres) paid up
In November 2024, the ministry of coal achieved a notable milestone, with overall coal production reaching 90.62 million tonnes (MT), reflecting a growth of 7.20 per cent compared to 84.52 MT in the same month last year. Additionally, coal production from captive and other entities saw significant improvement, rising to 17.13 MT, up 37.69 per
Typically, there are two primary objectives for investing in a piece of property. The first is purchasing the property for personal use, and the second is buying it now with the intention of selling it later for a profit when the need for funds arises. Additionally, until the property is sold, it can generate a
Following raids conducted by the Bureau of Indian Standards (BIS) at warehouses of major e-commerce players, including Amazon and Flipkart, Amazon has issued a statement reaffirming its commitment to product compliance and customer safety. The raids, carried out under the supervision of the consumer affairs ministry, led to the seizure of thousands of uncertified consumer
Foreign investors continue to pull back money from the Indian equity market withdrawing a little over Rs 30,000 crore in the first fortnight of the month amid escalation in global trade tensions. This came following an outflow of Rs 34,574 crore from equities in February and Rs 78,027 crore in January. With these, the total
Fixed deposits (FDs) have been a go-to investment choice in India for quite some time, particularly among senior citizens who prioritize financial stability and a consistent income. To meet the needs of this age group, Senior Citizen FDs provide better interest rates along with a range of other benefits. Before you jump into these investment
The combined market capitalisation of five of the top-10 most valued firms declined by Rs 93,357.52 crore, with IT giants Infosys and Tata Consultancy Services taking the biggest hit, in line with a weak trend in domestic equities. Last week, the BSE Sensex benchmark declined 503.67 points or 0.68 per cent, and the NSE Nifty
