The deliberations about reciprocal tariff is gaining momentum. Even as US President Donald Trump announced reciprocal tariff from April 2 and criticised India’s high tariff, the exact extent of the implications need to be assessed. In a report by ICICI Securities, analysts have compared the difference between the tariff levied by US on India and
Indian biscuit maker Britannia Industries announced on Thursday that its Chief Executive Officer, Rajneet Singh Kohli, has resigned after serving in the role for two-and-a-half years. Kohli will be relieved from his duties on March 14, as per his request. The company has not yet named his successor. Kohli did not disclose the exact reason
In a bid to defend margins and improve utilisation rates, the top IT services companies including Tata Consultancy Services (TCS), Wipro, HCL Tech, Accenture and Infosys have reduced the bench sizes in a year and a half. According to Money Control report, the main reason for this being slow growth in revenue. In the IT
The tariff war and reciprocal tariff demands are gaining traction as US President Donald Trump announced that the US will introduce reciprocal tariffs from April 2. In the latest development on the zero tariff demands from US, CNBC-TV18 reported that US may demand zero tariffs on all products traded between the two countries apart from
Mukesh Ambani’s Reliance Retail is worried about slowing sales after brokers valued the company at just $50 billion, which is half of what it was worth when it raised money two years ago, reported Bloomberg. Ambani has admitted to investors that the retail business, which was part of his effort to diversify from energy, grew
Tata Electronics will set up a display manufacturing unit in Gujarat in partnership with Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) and Himax Technologies, Inc. The three companies on Wednesday signed a tripartite Memorandum of Understanding (MoU) to jointly explore opportunities in the display semiconductor market and ultra-low power AI sensing, both in India and globally.
Global investor Brookfield Asset Management, on Wednesday said it has sold 1.6 GW portfolio of solar and wind assets in the country to Gentari Renewables India, structured in two phases. Though the investor did not disclose the size of the deal, sources pegged the deal around $900 million. The first phase, comprising the sale of 1
Joint Civil Judge S S Shinde of the Pune Civil Court on Wednesday asked the court to issue notices to Baba Kalyani and Gaurishankar Kalyani regarding a partition suit filed by their sister, Sugandha Hiremath. The court was hearing a partition suit filed by Hiremath, seeking a one-third share of the Kalyani HUF (Hindu Undivided
Here’s an acronym that you probably hear almost everyday on business television – CDMO. Contract Development and Manufacturing Organization (CDMO) are flexible third-party service providers that are entrusted with all the stages of the process of making medicines – providing services in the research and development stages, offering support in manufacturing, and providing formulating and
If you have donated Rs 5 lakh or more to a lesser-known political party, then the Income Tax Department may also be keeping an eye on you. Recently, tax officials have sent a long list of questions to thousands of individuals who made such donations in the financial year 2020-21. According to reports, in many
US President Donald Trump recently criticized India’s high tariffs, warning of a potential US retaliation. In a sharp statement, Trump asserted that the existing trade system is unfair to the US, and vowed to introduce reciprocal tariffs to counteract what he perceives as protectionist policies by other nations, including India. While much of the discussion
Singapore’s state investment company Temasek has signed a deal to pick up close to a 10% stake in the snacks business of India’s Haldiram’s at a cost of about $1 billion, two people with direct knowledge of the matter said on Wednesday. The deal was signed after months of negotiation and Temasek considers Haldiram’s a
Sanjay Shah, promoter of Prudent Corporate Advisory Services, India’s fifth-largest mutual fund distributor, has made headlines with his unique gesture of gifting shares to employees. Shah plans to distribute shares worth Rs 33 crore among 650 employees, including some staff engaged at his home, to celebrate his 25 years in business. The planned gift involves
