The government has tightened the wastage allowance that exporters of gold, silver, and platinum jewelry can claim at the manufacturing stage to qualify for duty-free import of raw materials. The revised norms, effective from January 1, will reduce permissible wastage across various jewelry categories, distinguishing for the first time between handmade and machine-made pieces. Announced
Broadband satellite services provider Hughes Communications expects to continue a 15-20% year-on-year growth in India. The company, which has a service distributor agreement with Bharti-owned Eutelsat OneWeb, is banking on the launch of satellite internet broadband services, satellite internet of things (IoT) solutions and capacity additions with upcoming GSAT-20 satellite launch by the Indian Space
India and Saudi Arabia on Friday signed a series of “actionable agreements” aimed at enhancing trade volumes and facilitating a smooth flow of investments between the two counties, an official statement said on Friday. The agreements emphasise cooperation in energy transition, digital transformation and exchange of expertise to accelerate economic growth. The agreements were signed
Hindustan Unilever Ltd (HUL) on Friday announced the completion of divestment of its water purification business under the brand ‘Pureit’. The company had, earlier on July 15, announced that it has signed an agreement for the sale of its Pureit business in India to A.O. Smith. Pureit offers a range of residential water purification solutions
The IT sector, during the fiscal second quarter, reported in-line operating performance, moderate deal wins and a weak second half outlook. While last year’s record deal wins have supported H1Y25 growth, stable leakages have helped too, though sporadic instances of ramp-downs still linger, stated a report by JM Financial. “FY24’s deal revenues in the base
The month of October remained an exciting one with companies across sectors riding high on the festive season, the frenzy around IPO announcements, and quarter results announcements for Q2FY25. Firms betted on the festive season for increased sales and revenue growth as retailers, e-commerce platforms, and consumer goods manufacturers experience a surge in demand as
The countries that are part of the BRICS grouping will collectively surpass the G-7 group of developed countries in global trade by 2026, according to a research report. From 2000 to 2023, the BRICS+ group’s share of global merchandise exports has risen from 10.7% to 23.3%, marking an impressive increase of 12.6 percentage points. In
It’s an unprecedented situation for Rahul Bahl, the owner of Bahl Enterprises, a utensil and appliances shop in Lajpat Nagar, Delhi, who is sitting idle on a Friday evening barely a week before Diwali. “There are hardly any customers in the market, despite it being Diwali time. People prefer to buy online, where they get
6 high growth sectors to watch for maximum investment returns in 2025 The world is rapidly going digital. From making payments to consulting doctors, more services are shifting online than ever before. India saw a staggering 7.42 billion UPI transactions in October 2024 alone. This digital transformation is also changing traditional business models, creating fresh
By Krishna Barot | Mukesh Jagota Being at once import-intensive and export-oriented, the gems and jewellery industry can withstand the current fall of the rupee, but have serious concerns about the continued sluggishness in demand from key export markets. In the major industry clusters, capacity utilisation has plummeted to abysmally low levels. The depreciation of
The liberal use of threats of tariffs by US President elect Donald Trump before his inauguration in January puts all forecasts of how world trade would shape up in the coming year difficult but Indian exporters are mostly positive about the prospects and their biggest worry stems from demand slowdown in bigger markets. The World
The government is set to borrow Rs 3.94 lakh crore from the market via treasury bills (T-bills), the Reserve Bank of India (RBI) said in a press release. On Friday, the central bank released the calendar for the auction of T-bills. The central government is set to borrow Rs 1.68 lakh crore via 91-day T-bills
With spiralling medical costs, buying a super top-up health insurance plan is ideal as it covers multiple claims within a policy year once the base cover is exhausted. Unlike a top-up which covers only one claim, a super top-up activates after the combined expenses exceed the deductible. It works best with a base cover of
