Top Headlines: TCS on moonlighting, licensing of digital apps, and more

TCS said moonlighting is an "ethical issue" and against its core values but has not taken any action against any staff

IT services exporter TCS on Monday said moonlighting is an "ethical issue" and against its core values but has not taken any action against any staff. Digital app companies fear that the draft Communications Bill might lead to a ‘regulatory overreach’ with the DoT incorporating powers from other ministries such as the IT Ministry and the I&B Ministry. Read more on these in our top headlines. 

TCS says moonlighting 'ethical issue'; no action taken against any staff

The country's largest IT services exporter TCS on Monday said moonlighting is an "ethical issue" and against its core values but has not taken any action against any staff. The company, which employs over 616,000 people, will take into account all the relevant dimensions while forming its final view on the issue which has been dominating headlines for the last few weeks, its Chief Human Resources Officer Milind Lakkad told reporters. Read more 
 

DoT may bring digital apps under licensing purview in draft telecom bill

Digital app companies fear that the draft Communications Bill might lead to a ‘regulatory overreach’ with the Department of Telecommunications (DoT) incorporating powers from other ministries such as the Electronics and IT Ministry and the Information & Broadcasting Ministry. Read more
 

India's e-retail market to increase to $150 bn-$170 bn by 2027: Report

India’s e-retail market is estimated to increase to $150 billion–$170 billion by 2027. This implies that 25 per cent–30 per cent annual growth and a doubling of market penetration to 9 per cent–10 per cent over the next five years, according to a report by consulting firm Bain & Company made in collaboration with Flipkart. Read more
 

Ministry of Corporate Affairs improves the ease of running a company

The post of the secretary of the ministry of corporate affairs (MCA) has been vacant for close to two months, since Rajesh Verma moved on as secretary to the President of India in August (on August 19). Revenue Secretary Tarun Bajaj has been holding additional charge since then. Despite the vacancy, MCA officials have reason to be pleased at how they have managed to improve the administration of company law, reduce the scope of criminal penalty and accelerate the time to set up companies or exit them. Read more
 

FMCG companies may see price hike-led revenue growth In July-September

Revenues of fast-moving consumer goods companies are expected to continue rising on the back of price increases in the July-September quarter. However, volumes are expected to remain under pressure due to grammage reduction, inflation and slowdown in rural demand. Rural demand for FMCG products remained soft during the quarter. Godrej Consumer Products said in its quarterly update that rural markets witnessed slower growth compared to urban. Read more