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Fitch Ratings on Tuesday said the aggregate revenue for its rated corporates will rise by 6 per cent in FY27 on steady GDP growth and an improved consumer-spending outlook, following a comprehensive reduction in GST rates. However, corporates could face some downside risks if additional US tariffs are imposed or in case of a sharp depreciation of the rupee. Fitch has recently revised India's GDP growth forecast for FY26 to 7.4 per cent, from 6.9 per cent, and expects annual growth of 6.4 per cent and 6.2 per cent over FY-27 and FY28, respectively. The rating agency expects GDP growth and robust infrastructure spending to underpin healthy demand for cement and building materials, electricity, petroleum products, steel, and engineering and construction (E&C) companies during FY27. Fitch-rated Indian corporates generally have low direct exposure to the current US tariffs, but unaffected sectors, including pharmaceuticals, could be hit by further US tariff announcements. Direct ...
Commerce and Industry Minister Piyush Goyal on Monday appealed to Indian corporates to create a pool of funds to support startups of the country, saying many entrepreneurs end up selling a large part of their equity at abysmally low prices to foreign firms. He also asked domestic firms to focus on quality, innovation and sustainability to push the country's economic growth. "I have a complaint about many of the billionaires that Indian domestic capital is not coming sufficiently to support the Indian startups. So I do wish to see Indian companies, Swadeshi capital coming in a big way to promote the startups because there's tremendous potential. "And sadly, a startup sellout, a large part of their equity ownership, at abysmally low price, very low price when they need that first seed capital or early stage funding," he said at an event in Mumbai. He added that the "sharks" out there just tend to kill the ideas of Indian startups or buy them out very cheaply. "I want to appeal to al
Big corporates are likely to lead the way in adopting new-age technology such as AI, data analytics, and cybersecurity solutions for improving their bottomline, a report said. The demand for technologies such as AI, data analytics, and cybersecurity solutions is expected to grow significantly and larger businesses are likely to lead the way in adopting these tools, given their greater capacity for investment, as per the latest Business Technology Report published by CPA Australia. The report highlighted numerous benefits that technology adoption brings to business, particularly in improving cybersecurity and the customer experience, and enhancing employee skills and satisfaction. It also emphasised the importance of integrating technology to address emerging challenges, particularly in ESG. "Businesses should focus on expanding their use of technology to monitor emissions, improve supply chain transparency, and engage with stakeholders effectively. This will not only enhance ...